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The listing agent will consider that an in-house sale. That is her windfall, not yours. She has has contract that says she gets that money.
Finding the house is only an aspect of what a buyer agent does for their client. The homes are all over the web. Protecting the buyers interests ....in many ways not so obvious.... is a larger role. Even if the listing agent conceeds a half point to the seller (theoretically reducing the price slightly), chances are greater you will end up giving the difference to the seller or the listing agent in the negotiation, or loose something else...something more...becuase you do not have representation.
So many times I have had buyers come to me thinking they "found the house" and the work was done. Sometimes I discovered aspects that cause them to seriously rethink the house. Sometimes I can negotiate a price that is better than what they could have. Sometimes when I make sure they have considered all other options...they end up with a different house. There is little to be gained, and much to be lost by attempting to wear all the hats. Very valuable to have an impartial advocate on your side. We are dealing with large numbers, so a small benefit to you...derived because you were represented well...can make a large difference.
I work with sometimes very very savvy buyers who purchase monumental homes. They know they can benefit from help, just like the savvy buyers purchasing starter homes.
Best, John Herman
TheBuyersRepresentative.com Exclusive Buyer Agents
Would you go to a dog groomer to get your hair cut? You are making one of the biggest purchases of your life. It is highly recommended to to find an agent to represent your best interests, one that specializes in the area you are looking in, and one that you personally feel comfortable with. There are plenty of bad agents out there, be sure to find one of the qualified ones. A good agent can save you tons of money now, and insure your profits, when it's time to sell. A good agent will more than pay for the services rendered. A good agent can offer many different negotiating strategies, and also help you jump through the many, many hoops that are required in today's market. Interest rates are historically low, prices are excellent, but getting the deals to actually close is the toughest I have seen in the 15 years I have been a REALTOR. With or without an agent, expect setbacks, headaches, and delays. Really, find a pro to work with.
I have not had the same experience, Doobie. When I want to see a house, I look up the phone number and name of the listing agent. Then, I call and ask for that person, specifically, and tell them I am interested in seeing the house. They give me a day and time, confirm it with their seller, and then meet me at the house. Usually, the listing agent does not get into details about commission, etc. during that phone call. If they try to, I just confirm that I am unrepresented, and leave it at that. I wait to broach the subject of commissions until I have seen the property and have an interest in possibly placing an offer.
However, during the showing, the listing agent inevitably asks about my representation. Sometimes, they share that they will "work with me" since I do not have another agent in tow (aka - they will reduce their commission). Other times, they want me to sign off on dual representation (aka - they want to keep all 6% for themselves). Almost always, they want to try to tell me about other listings (aka - they want to act as my buyers agent concerning another property). I am always quite clear that I am capable of doing my own research and am not interested in buyers' agency.
BeantownChef,
you can do whatever you want to do. There are no guarantees, but you don't know if you don't ask.
I would suggest having a strategy. There are hundreds of ways that this could unfold both to your benefit or to your detriment. Take a long and hard look at your options and your choices, because its not a given that the 2.5% or 3% will be given back to you.
If it were my choice, I would find an Agent who will rebate you 2/3 of the commission for just writing up the offer. That way you can have a second opinion and get some money back, then offer the difference less what you would have offered should you have gotten the entire 3% back to you.
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Foregoing a buyers agent
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BeantownChef
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If my wife and I find a house without the help of a Buyers Agent can we request the 2.5%-3 commission be deducted from the purchase price?
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