When you call the number on a “For Sale” sign in front of a Minneapolis duplex and use the listing agent as your Realtor, can you save money?
Many people are under the belief that because that agent is getting a commission for both the buyer and sellers in that case, if the buyer asks, the agent will give them some of the commission.
That may be true with some Realtors, but not me. Here’s why.
When the seller signs a contract to put their duplex on the market, they are doing so with a real estate brokerage. A real estate brokerage is a company like Keller Williams Realty Integrity Edina.
That contract, and the terms the brokerage are willing to pay to any other real estate brokerage, is published on the multiple listing service. If that number will be reduced. if either the listing agent of the buyer and sellers agent have both sides of the transaction, that information needs to be published on the MLS, as it puts Realtors from other companies, and their buyers, at a disadvantage.
Second, the contract signed between the seller and the brokerage is between those two parties. Payment comes from the seller’s proceeds from the sale. In other words, it comes from their equity.
Buyers are not entitled to money from a contract they are not involved in.
Finally, and perhaps most obviously, why should a Realtor, brokerage or seller give a complete stranger a portion of their pay or equity?