Quote:
Originally Posted by topfiverecords
How is a buying realtor a waste of money when you don’t personally pay them?
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Because their commissions is part of the sales prices on the home. Their existence costs you the purchaser negotiation room. For a typical 7% 100K; 3% rest calc, a $500K home has around $19K of total fees. Half of that is owed to the buying realtor, effectively potentially costing you $10K in negotiation room for that half a million dollar house.
I dealt with a realtor recently who took $1K to walk away as the buyer's rep rather than taking $2-3K in commissions instead of full commissions to fill in forms for the buyer on a private deal. We told the buyer to pay the realtor to pound sand and the price would drop $5K (seller and buyer both still ahead). I still don't get what that realtor was thinking. It was basically another hour worth of work and it wasn't worth the extra couple grand? Bizarre stuff.
The lawyers are worth their fee and they're significantly cheaper than realtors. I honestly don't have issues with realtors, but their fees are obscene. They often probably make more per hour than the lawyers do on the real estate deals.
Back on topic, if I'm OP, I'd offer $1K per month the tenant moves out early. Grease the wheels and try and salvage a win/win.