Another agent asked me about whether I have ever given a buyer a rebate. He had a client that asked him whether he can give them $1,000 back on the purchase.
So, it led me to think about, what is the biggest value add that a buyer’s agent could offer you as a buyer?
Before I get to the biggest value add an agent can provide you, I want to talk about commissions. Commissions in a real estate transaction are paid by the seller out of the proceeds of the sale. Out of the net proceeds the seller takes care of the agents both on the buy side and the sell side. So, when a buyer comes and asks for a rebate. Essentially what they are asking for is money back on something that they did not pay for. The seller pays the commission. In other words, if you are working with a buyer's agent, it is a service that the seller is paying for. Instead of asking for money back it would be more valuable for you to build a strong relationship with that agent. Chances are whether it is 5, 10 or 15 years down the road, a trusting relationship with a good agent will help protect you and feel confident your agent will negotiate the best terms in any deal whether it is on the buy side or the sell side. Aside from your financial goals, the most valuable thing you can get out of a real estate transaction is a good relationship with a top agent.
Ricardo Panchoo
Stonybrook Realty
630 Main Road
Towaco, NJ 07082
M: 718-840-9597
O: 973-334-1416
Serving New Jersey: Morris County, Hudson County, Union County, Bergen County, Essex County
Watch more Real Estate topics on my YouTube channel
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