Realtor Question

[Bill M]

No, they can't rep both buyer and seller. They can act as a mediary between the two however and can't offer advise one way or the other. You save nothing as a buyer by not having your own representation.

This and...

Seller typically pays the commission.
Buyer pays origination fee to the lender typically 1% of the loan amount., Buyer pays Title policy, appraisal fee, survey, recodrding fees to the title company, prorated taxes and insurance, prorated HOA fees and HOA transfer fee if any. The lender will disclose those fees up front.

this. ^^^

[Henry]

1-3% closing costs
An agent can write the deal without another agent representing the other party, but can only represent one party. The other party should sign a Disclosure of Non-Agency though to CYA.

[Muygrande]

Conflict of interest. There are no advantages unless you get the commission lowered.

This exactly and everything is negotiable.

[tigerscowboy]

No, they can't rep both buyer and seller. They can act as a mediary between the two however and can't offer advise one way or the other. You save nothing as a buyer by not having your own representation.

I can't agree with you based on our market and the knowledge of many consumers.

Prospects/Buyers that are not represented propose offers every week to us that explain they want 3% off the listed price because they do not have a realtor.

We don't open the discussion. This is what a good number of the buyers present to builders/sellers.

[Austin]

While everything is negotiable in Texas it is customary that seller pay realtor commissions, title policy for buyer and typically see a home warranty thrown in by the agents. Survey is about a 60/40 split it's just a negotiation.

In the case of FHA and VA it is not uncommon to see sellers agree to pay additional closing fees as well

As said get your own agent

[Bill M]

I can't agree with you based on our market and the knowledge of many consumers.

Prospects/Buyers that are not represented propose offers every week to us that explain they want 3% off the listed price because they do not have a realtor.

We don't open the discussion. This is what a good number of the buyers present to builders/sellers.

Apples and oranges. I'm not talking about a deal between a builder and client, just a straight real estate transaction. I was builder for many years also and dealt with people in the same manner you're talking about on customs. Did the same thing thing on specs that weren't listed yet as well.

My broker wife did correct me on something though. Acting as mediator is only one way the transaction can be handled by a single realtor but not the only way.

[Bill]

"Everything of value is negotiable



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[eradicator]

"Everything of value is negotiable



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this. when you are a middle man(no offense to realtors), then you should expect to have to negotiate

[Burnadell]

What are customary closing cost for buyer?

Can same agent rep both buyer and seller? Advantages/disadvantages?

Conflict of interest. There are no advantages unless you get the commission lowered.

This exactly and everything is negotiable.

I know you two attorney's misread the question, because the SELLER pays the realtor commission, therefore no advantage to the BUYER even if commission is lowered. I know you knew that.

[BlackoutRam2500]

this. when you are a middle man(no offense to realtors), then you should expect to have to negotiate

True story.