I have a question that I'd like to ask. I as a flipper worked with a realtor that charges me 4% commission when I sell my flips. If I bring the buyer to the table to purchase a property even before I purchase it to flip for said buyer, would I still have to pay 4% commission or split the commission with the realtor? This would be the 3rd deal that we have done together.
Use FSBO or a real Estate attorney instead. I always sell through who ever brings me the deal, so I don't mind paying extra to sell as I wouldn't have the property without the realtor anyway. That's assuming your realtor brought you the property.
used realtor to buy property under contract now. Have a buyer wanting to purchase the home after renovation for set price already. Since the realtor didn't have to do anything to sell property other than paperwork, should they split the % equally between realtor and contractor.
Talk to your Realtor about it. Your Realtor may be willing to do the paperwork for you and your buyer for a flat fee or smaller commission since he/she doesn't have to market the property.
Curious, is it 4% total? Or 4% for the listing agent and they charge a total of 8%? If it's 4% total, that seems like a pretty good deal. Our area is 6%.
normal is 6%, this was an arrangement made between parties.
He can Lower his commission but he can not split it with you (pay you any portion of it).
I understand that Wayne, but he can lower his commission to 2% and do the deal. I've done for sale by owner on other deals, but wanted to keep him on board and not feel like I'm undercutting him. Thank you for all your input everyone, I know what I need to do.
This depends on what the realtor does to bring value to the deal. We've found deals but my realtor runs it from there - showings, inspections, code enforcements, the SPIR, tenant notices, necessary docs (lead paint disclosure, fire & safety, energy audit, minimum housing certificates, etc...). We're at a negotiated 5% now that is split between both sides.