[XBoxBoy]

Whoops, looks like there went another $300,000 in just 2yrs time.

http://www.sdlookup.com/MLS-080045112-7974_Paseo_Del_Ocaso_La_Jolla_Ca_92037

And somehow I get the feeling this is gonna get worse…

XBoxBoy

[XBoxBoy]

Whoops, looks like there went another $300,000 in just 2yrs time.

http://www.sdlookup.com/MLS-080045112-7974_Paseo_Del_Ocaso_La_Jolla_Ca_92037

And somehow I get the feeling this is gonna get worse…

XBoxBoy

[XBoxBoy]

Whoops, looks like there went another $300,000 in just 2yrs time.

http://www.sdlookup.com/MLS-080045112-7974_Paseo_Del_Ocaso_La_Jolla_Ca_92037

And somehow I get the feeling this is gonna get worse…

XBoxBoy

[XBoxBoy]

[quote=Rustico]If you care more about the deal an agent who will drop low balls and bargain hunt could save you more.[/quote]

Hmmmm…. not sure I agree. I’m sure there are some agents out there that will help you get the best deal possible. But from my experience over the last couple of years, (looking in La Jolla mind you) is that all the agents out there are not interested in me getting a deal, just in me signing on the dotted line so they can make their commission. Sorry to be so cynical, but that’s just what I’ve felt. And as for negotiating, I’ve yet to encounter an agent that gives good advice/strategy about negotiating.

For a while I was working with a buyer’s agent, and one day she showed me a house I thought had potential. I asked her, “What do you think is the best strategy to get the seller to come down in price?” She looked at me with a befuddled look (as if I was clearly out of my mind) and said, “I’m not sure what you mean, but if you like the house, then we should write up an offer for the asking price and hope they take it.” Needless to say, I stopped working with that agent.

I’m not sure I’d follow your suggestion to bid out the rebate on craigslist, but I do think it’s a darn interesting idea, that’s for sure.

[XBoxBoy]

[quote=Rustico]If you care more about the deal an agent who will drop low balls and bargain hunt could save you more.[/quote]

Hmmmm…. not sure I agree. I’m sure there are some agents out there that will help you get the best deal possible. But from my experience over the last couple of years, (looking in La Jolla mind you) is that all the agents out there are not interested in me getting a deal, just in me signing on the dotted line so they can make their commission. Sorry to be so cynical, but that’s just what I’ve felt. And as for negotiating, I’ve yet to encounter an agent that gives good advice/strategy about negotiating.

For a while I was working with a buyer’s agent, and one day she showed me a house I thought had potential. I asked her, “What do you think is the best strategy to get the seller to come down in price?” She looked at me with a befuddled look (as if I was clearly out of my mind) and said, “I’m not sure what you mean, but if you like the house, then we should write up an offer for the asking price and hope they take it.” Needless to say, I stopped working with that agent.

I’m not sure I’d follow your suggestion to bid out the rebate on craigslist, but I do think it’s a darn interesting idea, that’s for sure.

[XBoxBoy]

[quote=Rustico]If you care more about the deal an agent who will drop low balls and bargain hunt could save you more.[/quote]

Hmmmm…. not sure I agree. I’m sure there are some agents out there that will help you get the best deal possible. But from my experience over the last couple of years, (looking in La Jolla mind you) is that all the agents out there are not interested in me getting a deal, just in me signing on the dotted line so they can make their commission. Sorry to be so cynical, but that’s just what I’ve felt. And as for negotiating, I’ve yet to encounter an agent that gives good advice/strategy about negotiating.

For a while I was working with a buyer’s agent, and one day she showed me a house I thought had potential. I asked her, “What do you think is the best strategy to get the seller to come down in price?” She looked at me with a befuddled look (as if I was clearly out of my mind) and said, “I’m not sure what you mean, but if you like the house, then we should write up an offer for the asking price and hope they take it.” Needless to say, I stopped working with that agent.

I’m not sure I’d follow your suggestion to bid out the rebate on craigslist, but I do think it’s a darn interesting idea, that’s for sure.

[XBoxBoy]

[quote=Rustico]If you care more about the deal an agent who will drop low balls and bargain hunt could save you more.[/quote]

Hmmmm…. not sure I agree. I’m sure there are some agents out there that will help you get the best deal possible. But from my experience over the last couple of years, (looking in La Jolla mind you) is that all the agents out there are not interested in me getting a deal, just in me signing on the dotted line so they can make their commission. Sorry to be so cynical, but that’s just what I’ve felt. And as for negotiating, I’ve yet to encounter an agent that gives good advice/strategy about negotiating.

For a while I was working with a buyer’s agent, and one day she showed me a house I thought had potential. I asked her, “What do you think is the best strategy to get the seller to come down in price?” She looked at me with a befuddled look (as if I was clearly out of my mind) and said, “I’m not sure what you mean, but if you like the house, then we should write up an offer for the asking price and hope they take it.” Needless to say, I stopped working with that agent.

I’m not sure I’d follow your suggestion to bid out the rebate on craigslist, but I do think it’s a darn interesting idea, that’s for sure.

[XBoxBoy]

[quote=Rustico]If you care more about the deal an agent who will drop low balls and bargain hunt could save you more.[/quote]

Hmmmm…. not sure I agree. I’m sure there are some agents out there that will help you get the best deal possible. But from my experience over the last couple of years, (looking in La Jolla mind you) is that all the agents out there are not interested in me getting a deal, just in me signing on the dotted line so they can make their commission. Sorry to be so cynical, but that’s just what I’ve felt. And as for negotiating, I’ve yet to encounter an agent that gives good advice/strategy about negotiating.

For a while I was working with a buyer’s agent, and one day she showed me a house I thought had potential. I asked her, “What do you think is the best strategy to get the seller to come down in price?” She looked at me with a befuddled look (as if I was clearly out of my mind) and said, “I’m not sure what you mean, but if you like the house, then we should write up an offer for the asking price and hope they take it.” Needless to say, I stopped working with that agent.

I’m not sure I’d follow your suggestion to bid out the rebate on craigslist, but I do think it’s a darn interesting idea, that’s for sure.

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy

[XBoxBoy]

[quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy

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