Hello BP community. My business partner and I have been working with an agent over the past 2-3 weeks to find a townhouse in Brooklyn. We quickly found the townhouse and placed the offer which got accepted. I am wondering if it is too late to ask our agent for buyer agent rebate (which I read about on Streeteasy). I am thinking that the commission of 3% is a bit too much for 2-3 weeks of work, but on the flip side, it might just be wrong to try negotiating this late in the game. I know that there are other brokers that give back some of the commission, which we could switch to if needed, but that doesn't feel like the right move. Any feedback would be appreciated.
Too late in the game. Also, you make an assumption that the commission is a certain amount. You know what happens when you assume.
That discussion needed to happen before you started looking. And no, you can’t switch to adifferent agent now.
You may think he’s making too much for 2-3 weeks worth of work.....would you offer to pay him extra if it took 2-3 months, or pay him something if you never bought anything.....I doubt it. As an agent, it sort of averages out, good money for the time on some deals, lousy money for the time on other deals and no money for a lot of time invested on others.
Wayne / Russel, thanks for the valuable feedback. Super helpful.