Are you required to use a Real Estate Agent?
No. However, Home Owners and Buyers need to realize that some legal forms may be
difficult to complete without the assistance of a licensee. While the Internet may seem to
be a tool which eliminates the needs for real estate experts, the transaction details go far
beyond a web site. The decision to seek professional assistance is typically driven by the
buyer’s familiarity with the home sales process and their familiarity with the community.
The more limited a buyer’s time to devote to finding a home, the more valuable
professional assistance may become. Buyers from outside the area often find the
assistance of a local expert helpful, both in terms of evaluating neighborhoods and the
values represented by asking prices. Sellers must balance the cost of the service against
access to larger numbers of potential buyers, their own marketing expertise, and the time
they might have available to expedite the transaction, once they have an accepted offer.
Why does some Real Estate Agent would not push harder for me?
Usually the Buyer or Seller feel that their Real Estate Agent are not pushing harder for
your best interest and this normally occurred when an offer is made. When a buyer makes
an offer lower than asking price, the seller may feels the offer is too low. Now the
negotiation process takes over. Remember, insisting on a bargain-basement price may
result in no purchase, and insisting on an above-market price may result in a delayed sale
(often at an even lower price). Once an offer is in play, the pressure is on all sides to
strike a deal quickly. A hardworking and honest Real Estate Agents like Bobby and Robby
Abutin can sometimes get you a home at a better price through good negotiation
Who pays the commission?
(1) The broker’s compensation may be paid by the seller, the buyer, a third party, or by
sharing the compensation between brokers. (2) An agreement to pay or payment of
compensation does not establish an agency relationship between the party who paid the
compensation and the licensee. (3) A seller may agree that a seller’s agent may share
with another broker the compensation paid by the seller. (4) A buyer may agree that a
buyer’s agent may share with another broker the compensation paid by the buyer. (5) A
broker may be compensated by more than one party for real estate brokerage services in
a real estate transaction, if those parties consent in writing at or before the time of signing
an offer in the transaction. (6) A buyer’s agent or dual agent may receive compensation
based on the purchase price without breaching any duty to the buyer.
Is the commission too high?
The compensation for real estate brokerage services is negotiated between the client
(usually the seller) and the broker when a listing is taken. While it may seem that
commission rates are fixed (usually at 6% for residential homes) , they really can be
negotiated. A real estate broker may be willing to reduce some fees, but others may not
because commission supports the services of many people and many activities. Real
estate salespeople work for real estate brokers. Part of the commission compensates the
salesperson working with the seller, and part compensates the salesperson working with
the buyer. Since in most transactions two separate offices or firms are involved, part of
the commission compensates the two brokers, who have the legal liabilities, who are
required to maintain specific paperwork, and must provide the office space, telephone
lines, etc. Salespersons also have to reimburse the broker for classified advertising, long
distance telephone, and other services provided by the broker which are related directly
to your transaction.
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|Abutin Realty Website
Licensed Real Estate Professionals
State of Washington, USA