Flat rate buyer's real estate broker

New York, NY · Member since 2017 · 7 posts · 0 votes

Hello,

I'm looking for a flat rate buyers agent in Texas. I have done all the leg-work myself including finding the property and negotiating the final price. I am looking for a flat rate buyers real estate broker. I will compensate the broker $1000 for their work. Please PM me if you are interested in working with me.

Thank you

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Brie SchmidtBusiness Member

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Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes

@Account Closed - seller's pay the buyer's agent. As the buyer you don't pay

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Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
8y
@Account Closed - seller's pay the buyer's agent. As the buyer you don't pay
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Account Closed
OP
New York, NY · Member since 2017 · 7 posts · 0 votes
8y
Ultimately of course the money comes from the payment the buyer pays to buy the house. I will request a refund minus 1000 dollars of what the seller would normally pay the buyers agent/broker.
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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
8y
Originally posted by @Account Closed:

Ultimately of course the money comes from the payment the buyer pays to buy the house. I will request a refund minus 1000 dollars of what the seller would normally pay the buyers agent/broker.
Agents are typically not empowerer by their broker to negotiate this type of deal.
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Christopher Phillips
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
8y
Ali Maz Doesn’t exactly work that way. There are flat rate brokers that will place a seller on the mls for a fee, no work or services involved. There really isn’t an equivalent on the buy side since the seller normally pays the commission that is already set by the contract between the seller and the seller’s agent. Where you might get someone to do it for a flat fee on the buy side is when it’s a for sale by owner and the owner refuses to pay a commission. Then the buyer would be responsible out of pocket If your deal involves a listing agent, you aren’t paying the commission. And no, it’s not a matter of semantics. The sales price has nothing to do with the commission, it gets paid regardless if the seller is getting below or above market value.
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
Agency is quite rigid. I see what you're trying to do, but doubt you'll be able to do it, unfortunately.
I sold a house FSBO last year, offering $8k to any agent that brought me a buyer within 14 days. They all looked at me cross-eyed even though it was well above 3%. No agent could grasp that I didn't want a contractual listing heading into winter. I sold it 3 weeks later. Their agent got 2.5%. She was an agent I emailed specifically about my 'special' but couldn't see outside the agency box. Costed her $2050 letting her clients find me on their own.
If I were you, I would fill out the TREC best I could and adhere to all inspection and contingency deadlines. Put up $1k in EM. Open escrow at your preferred title co. The loss may be the $1000 you were gonna pay a rookie agent that wouldnt be much help anyway. If you learn to go solo... huge upside!
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OP
New York, NY · Member since 2017 · 7 posts · 0 votes
8y
This is why I will work with a broker as opposed to an agent. As it is also my understanding that agents themselves cannot complete a transaction like this, however a broker can give me a refund as per a contractual agreement between myself and the broker.
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
Originally posted by @Account Closed:
This is why I will work with a broker as opposed to an agent. As it is also my understanding that agents themselves cannot complete a transaction like this, however a broker can give me a refund as per a contractual agreement between myself and the broker.
Great. Call around and ask then. Look some up in the phone book or online.
Sorry to waste your time. I've made a note to self to not let it happen again.
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OP
New York, NY · Member since 2017 · 7 posts · 0 votes
8y
I don't know any brokers personally, however I'm hoping I will find someone through this forum. Please send me a private message if you are interested in being my broker. Any interested broker will likely be involved in more than 1 transaction :)
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Aaron Hunt
All Over, USA · Member since 2017 · 689 posts · 756 votes
8y
Please stop with the fake news that the "seller" pays the buyer's agent. Ain't nobody got time for fairy tales. We're all grown ups here and know the money is coming from the buyer.
In the age of the internet - the value of the real estate agent/broker has diminished tremendously. Smart agents and brokers acknowledge that and are accepting lower commissions to stay ahead of the game and are using technology to keep volume where it needs to be. No matter what anyone says, to appear for a single showing (or two) and then sending a single DocuSign via email offer does not dictate a 3% commission regardless of who pays it.
While not "flat rate" here is an example of a forward thinking brokerage who I will be giving my business to for my next purchase, and several of my family members and colleagues. I summarized the available options.
Option 1: Full commission. Higher 2.5-3%. Short term committment, can back out if it falls through.
Option 2: Broker Credit. 2%. Broker credits buyer back 1%.
Option 3: Hourly $295/hr. If you're doing your own Zillow/Redfin homework, and it is a quick sale, then it could be tremendously quicker and cheaper. YOU COLLECT THE FULL COMMISSION at CLOSE and get BILLED BUY THE BROKER.
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OP
New York, NY · Member since 2017 · 7 posts · 0 votes
8y
I'm actually looking at buying properties in other states as well. Please let me know if you are a buyer's broker interested in a flat rate, requiring minimal work on your part. Please send me a private message.
Thank you.
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