Real Estate

Hiring selling agent as buying

  • Last Updated:
  • May 5th, 2019 11:49 am
[OP]
Sr. Member
Nov 25, 2008
700 posts
31 upvotes
edmonton

Hiring selling agent as buying

Typically what would you expect from the selling agent of the property that you try to buy?

Do you ask directly cash back at time you decided to hire him?
Say 500k property you ask for 0.5% cash back?

In the past ..I asked and got $2500 from him.. Not sure this approach works well with other agents these days. .

In my case howeVer I am thinking to propose I may hire him for help out renting out the property that I want to buy...Hopefully this agent can help me bit more in term of getting this transaction done
(Although I understand agent leaning towards helping seller getting highest price)

Thx
Tc
Last edited by love0715 on May 4th, 2019 10:10 pm, edited 1 time in total.
11 replies
Member
Feb 15, 2018
328 posts
395 upvotes
It has been debated ad nausea on these forums and the preponderance of evidence clearly points out that you have nothing to gain by engaging the selling agent. They will gain by double dipping. I do not think they can even technically split the commission with you as you are not a registered realtor. Your best approach is either of the following:

1) Hire your own buyer's agent who will split their portion of the buy side commission with you.
2) Get your own realtor license and keep all the buy side commission.
Deal Fanatic
Mar 27, 2004
5096 posts
3133 upvotes
Toronto
Get your own realtor. plenty of cashback realtors here. I can get your back more than that.
Full-time Realtor
Jr. Member
Jan 30, 2019
107 posts
67 upvotes
I really don't think helping you rent what you buy will be an incentive for most realtors. If you got $250 last time, that agent screwed you big time.

Go with a cash-back agent the way most here have advised.
Deal Addict
Dec 21, 2010
1555 posts
848 upvotes
GTA
Seriously???

You have been hitting me up all month for (FREE) advice. I gave you pages and pages and pages and answered all your questions on repeat. Now you want to "hire" someone?
Award Winning Realtor - I LOVE MY JOB!!
At the end of the day, you're the boss and need to make sure I'm worth your rate of pay!
[OP]
Sr. Member
Nov 25, 2008
700 posts
31 upvotes
edmonton
Sorry it was typo ..It's 2500...Basically 0.5%
Deal Guru
User avatar
Mar 23, 2008
11890 posts
8141 upvotes
Edmonton
loriblum wrote: Seriously???

You have been hitting me up all month for (FREE) advice. I gave you pages and pages and pages and answered all your questions on repeat. Now you want to "hire" someone?
Ouch!

C
Member
Oct 21, 2013
284 posts
140 upvotes
waterloo, on
loriblum wrote: Seriously???

You have been hitting me up all month for (FREE) advice. I gave you pages and pages and pages and answered all your questions on repeat. Now you want to "hire" someone?

Ooooppss.. Face With Rolling Eyes
Serving Kitchener/Waterloo/Guelph/London/Hamilton/Niagara and surrounding areas
Deal Addict
Sep 11, 2006
1743 posts
552 upvotes
Has nothing to do with the cash back. Your real benefit is that real estate agents have no morals and are looking for ways to sell the property faster even at a lower price. There's a CBC Marketplace hidden camera report on it.
Sr. Member
May 3, 2013
643 posts
199 upvotes
Toronto
From a listing agent point of view, I love buyers who come to me directly. I sign them up as customers and protect the interest of the seller. By dealing with the buyer directly, I get more "read" on their position and intention to maximize the seller's interest. From a personal standpoint, the seller trusted me enough to let me list their property, I would never jeopardize that trust.
The key to success in this business is not how many transactions you can close, but how helpful one is in protecting the client's interest. The honesty and transparency will show and the transactions will naturally follow.

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