buyer2b Posted May 12, 2008 Share Posted May 12, 2008 There are some buyer's agents who are willing to give some of their commission to the buyer. Since the sale contract still states that the buyer's agent gets 3% (normally), how can a buyer make sure that the agent will give the money back after the closing or at the closing? If an agreement is needed, is there a standard one? Thanks. Quote Link to comment Share on other sites More sharing options...
Scott08 Posted May 13, 2008 Share Posted May 13, 2008 (edited) I would say if it's not written in your contract that you will get part of your agent's cut, then it's not worth the paper it's written on! Seriously, I wouldn't count on getting a rebate unless it is in writing. My house is currently for sale, no rebates implied from my agent UNLESS they sell my house and then find me another as buyer's agent. If that scenario happens, they do rebate me on the new house's commission, in the contract. Edited May 13, 2008 by Scott08 Quote Link to comment Share on other sites More sharing options...
buyer2b Posted May 14, 2008 Author Share Posted May 14, 2008 Thanks for the comment. Are you saying that it should be in the contract not any other form of agreement? Quote Link to comment Share on other sites More sharing options...
cumby Posted May 14, 2008 Share Posted May 14, 2008 Mine is giving me a rebate and he is calling the mortgage company to see if he can get it worked in somehow by still showing him as receiving the 3 but then giving us our portion of that 3. Quote Link to comment Share on other sites More sharing options...
mpbro Posted May 15, 2008 Share Posted May 15, 2008 It would be ironic if you had to pay a lawyer to write up the contract to enforce the buyer's agent kickback... Quote Link to comment Share on other sites More sharing options...
CoolBuddy06 Posted May 15, 2008 Share Posted May 15, 2008 Some agents give money back (usually 1%) just because they know it's a competitive market, and they want you to be so happy that you will refer your friends, but I don't see how that can be written in the contract. Maybe, but I doubt it. Whatever happens, ask upfront. Make sure both of you are on the same page as to how muck you will get, when, and how. Quote Link to comment Share on other sites More sharing options...
jscarbor Posted May 15, 2008 Share Posted May 15, 2008 I have rebated my commission several times. I have usually done it on my word but just recently I wrote up an addendum to buyers agent rep form and stated what the intention of the rebate is. Thats about all you can do really is my guess.2percent2buyer.com Quote Link to comment Share on other sites More sharing options...
ferronsfunctionals Posted July 31, 2008 Share Posted July 31, 2008 I have rebated my commission several times. I have usually done it on my word but just recently I wrote up an addendum to buyers agent rep form and stated what the intention of the rebate is. Thats about all you can do really is my guess.2percent2buyer.comI have used the 2percent2buyer.com and so have two of my co-workers. None of us have ever had any issues on getting the rebates. Quote Link to comment Share on other sites More sharing options...
travelguy_73 Posted July 31, 2008 Share Posted July 31, 2008 I have received part of the agent's commission for my past 3 home purchases. Each time it was because I used the agent on the sell and buy side, and so it was worth it to them to do so. Each time it was written into the contract so (1) it was enforceable, and (2) there was no mistaking that the money was coming from MY agent's commission not the other agent's commission, if there was another agent. Quote Link to comment Share on other sites More sharing options...
jscarbor Posted July 31, 2008 Share Posted July 31, 2008 I have used the 2percent2buyer.com and so have two of my co-workers. None of us have ever had any issues on getting the rebates.ferronsfunctionals was my first customer! I think he would say that I did a good job for him? Quote Link to comment Share on other sites More sharing options...
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