Buying A House In A Down Market Orange California Tip 4

Buying A House In A Down Market Orange California Tip 4

Negotiate With the Realtor

When houses are selling at a slow pace, many real estate agents are also struggling. In such an environment, both agents and firms may be more inclined to knock a percentage point or two off of their commission schedule to get a deal done.

But isn't it's the seller's job to pay the real estate agent? Why should you care what the commission is?

Commission is important to the buyer because the seller probably listed the home at a high price so he or she could pay the commission to the agent and still walk away with a nice profit. Buyers can get their real estate agents to ask the listing agent to lower his or her commission so that the deal gets done, and both the seller and his or her agent both walk away with a decent profit.

The Consumerist.com offers these tips for increasing your leverage when negotiating with a real estate agent:

• You may be able to get a discount by using the same agent to sell your current house and buy a new one.
• Smaller real estate firms may be able to approve lower commission rates more quickly, because they have fewer layers of bureaucracy.
• If one agent won't negotiate, find another who will.
• Consider using the internet as much as you can to eliminate properties you are not interested, send a list of these homes to your real estate agent so the house hunting time is less and more productive. There are services available online that give house hunters direct access to the Multiple Listing Service, allowing them to find potential properties themselves.

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