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06-01-2011, 05:57 PM #1
Renter
- Join Date
- Jun 2011
- Location
- Los Angeles
- Posts
- 1
Realtor offering me price discount in lieu of taking my commission ?
I am a commercial RE broker who has just joined the local, California and national Association of REALTORS. I am about to buy a new home, and the selling agent has suggested that instead of giving me the 3% commission I would be due representing myself as buyer, that I have him represent me as buyer's agent and "he'll give me the equivalent of the commission as a discount on the purchase price." He said it's better since it won't create income for me and lowers the property tax base.
This sounds fishy. Is this a legitimate way to handle the situation when one Realtor does business as a buyer with one selling?
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06-02-2011, 06:23 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
First off, he can't be your buyer's agent because he already works for the seller.
Has the contract price already been negotiated? If not then he might be looking to keep the whole commission. If the purchase price is reduced he still has a contract with the seller for 6% which the seller will be keeping in mind all through the process.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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