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#455113 - 10/25/16 10:09 AM What is up with these idiot agents listing w/ 2% buyer comps?
ibsellin Offline
Member

Registered: 08/19/11
Posts: 377
Loc: USA
Honestly I almost never ever see a buyer agent comp under 2.5% unless maybe it's $2M+ the people get stingy and try to go with 2 or 2.25%.

In my area $300-500k is the average sales price depending on county and lately a lot of <$175k properties listed with 2% buyer comps have been popping up? What are these agents stupid? You think anyone is going to help you sell your <$175k property at 2%?

Don't be a fool and if you have to list it at under 5% you take the hit on whatever it was under 5% on the listing side or we ain't going to help you.

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#455121 - 10/25/16 02:01 PM Re: What is up with these idiot agents listing w/ 2% buyer comps? [Re: ibsellin]
JohnN Online   content
Member

Registered: 11/21/13
Posts: 209
Loc: Minnesota
Let's be honest, if your buyer asks to see the property what are you going to say.. No!

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#455125 - 10/25/16 07:03 PM Re: What is up with these idiot agents listing w/ 2% buyer comps? [Re: ibsellin]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1551
Loc: Cleveland, Ohio
John, I'm sure a lot of agents who need to feed their families will come up with something to keep their buyers from buying the house. Offering a low buyer comp is doing a disservice to the seller. We always split it 50/50.
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David Hunter | Retired RE Agent |Direct-Response Marketer
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#455148 - 10/26/16 04:31 PM Re: What is up with these idiot agents listing w/ 2% buyer comps? [Re: David Hunter]
JohnN Online   content
Member

Registered: 11/21/13
Posts: 209
Loc: Minnesota
Hi Dave,
I don't disagree other then I work with some investors and have handled a few auction properties. I'm currently waiting to close a Hudson & Marshall property with a 1.5% commission.
It's not common in MN to do a 50/50 split. It's usually 2.7 to the buyer's rep and 2.8-3.3 to the listing agent. (2.7% is or brokerage minimum).

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#455158 - 10/26/16 08:03 PM Re: What is up with these idiot agents listing w/ 2% buyer comps? [Re: ibsellin]
Tex Offline
Member

Registered: 02/11/14
Posts: 199
Loc: TX
We are starting to see one once in a while as well. The sellers should know that Realtors will show their home last.
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