Real estate fee question

[Darton]

Hey Ryan, check your PM's.

Finding the property is just a small piece of the puzzle. It is definitely not a "gift". There is still a ton of work to be done. The listing agent has likely agreed to a fee of 6% to sell the property. Doesn't matter to them if another agent is involved or not, they are getting the 6% from the seller to sell the property. How the agent chooses to split that fee is up to them, not the seller.

I'd argue that having representation as a buyer is even more important than as a seller.

This man speaks truth

[Trapper76]

The money you spend on a real estate professional could be the best money you ever spent, or if your a gambling man I’d say go it alone. Real estate agents do way more than find and list properties, good ones look out for your best interest. Good luck with your purchase and congratulations if it goes thru.

[M16]

If I buy a property that's not listed by a realtor why would I spend any money with one? My money is better spent with a real estate attorney who will represent my best interest. Most real estate attorneys that I do business with are also part owners or have connections with title companies. The fees that I have been charged have never ever been even close to a 3% commission.

[Chance Love]

If I buy a property that's not listed by a realtor why would I spend any money with one? My money is better spent with a real estate attorney who will represent my best interest. Most real estate attorneys that I do business with are also part owners or have connections with title companies. The fees that I have been charged have never ever been even close to a 3% commission.

How many of those attorneys actually get out and set foot on the property? Or research anything other than legal matters on the property? Or research the neighbors? Ect...

[M16]

How many of those attorneys actually get out and set foot on the property? Or research anything other than legal matters on the property? Or research the neighbors? Ect...

I'm perfectly capable of doing that myself.

[Chance Love]

I'm perfectly capable of doing that myself.

I understand you are. Most folks don't want to handle that part. And they don't understand that an attorney won't do that part either. I always suggest that clients hire an attorney to review everything. Most won't.

[RiverRat1]

I posted this in my land search thread but need a wider audience for this question.
If I found a ranch by myself, should I even involve a realtor? It would basically be a gift since I found it on my own. Is there a possibility of negotiating sales price down if the seller isn't paying the 3% to a buyer's agent? I definitely see the value of a realtor when selling, but buying? Hopefully this doesn't seem callous...just thinking it through.

How many properties have you bought or sold? If less than 3 or so just hire a realtor.

Ask Chance how easy it was to buy my property. Things can come up that you wouldn't dream of, some mentioned in post #2.

If you happen to of found a simple property with no easements or issues maybe you can gamble and go without. But you'll never know if your realtor could have found something and tell you to offer less or whatever.

[Big Lee]

I purchased a home that I found on my own. I did get a realtor involved for paperwork purposes etc. We negotiated the 3% he would receive to 1.5% we were both happy with it. This was several years ago prior to the housing Boom. You may not have leverage today. Just an assumption