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"As a first-time homebuyer, I was nervous about the entire process. Step by step, Joe made it easy and fun. His expertise in the Columbus real estate market is a tremendous asset. He is highly recommended!" - Nicolette Horan
"I wanted to say thank you again, so much, for all your hard work. I know that you really put a lot of time into this transaction and I really, really appreciate it. I'm so happy I got the house and it all worked out and I just wanted to say thanks again, you did a great job and i really appreciate it. I will put that on the survey when they send it to me.
If there is ever anything I can do for you, please don't hesitate to give me a call. I will refer every single person I know to you. I'm going to go get my dog and we're going to sit on the floor of our new house and have a glass of champaign. Thanks a lot Joe" -- Michael Mamp
Want to buy a house? It Costs You Nothing to Use an Informed Realtor (me)?
December 19th, 2007 categories: For Home Buyers, Real Estate News
Seriously. Just like yesterday’s post, I find buyer’s don’t initially know or understand this. Why would you though, if you haven’t run across this information somewhere and you haven’t bought a house before?
So I work for free when I represent buyers? No, I have kids to feed. This is how it works in Columbus:
- The money I get paid as the Realtor who represents the buyers is built in to the price of the house.
- Conventional Wisdom says that that fee equals 3% of the purchase price, more or less.
- Even For-Sale-By-Owners often advertise that they will co-op, meaning they’ll give 3% to the Realtor who has clients that purchase the home.
- That 3% can, and does change, from time to time according to the transaction. If it were fixed, then the Columbus Real Estate Market wouldn’t be a free and open market, Realtors would be accused of collusion, perhaps even the sky would fall.
I keep 3%? I must be rich! No, not so much. There is a lot of overhead involved in the real estate business and Coldwell Banker is part of the largest real estate company in the world because they know how to make money – both from and for their agents. I split that 3% with Coldwell Banker King Thompson in one form or another.
The bottom line? I will go to the ends of the earth for you, watch out for your best interests, save you thousands of dollars, advocate on your behalf, buy you coffee, use my gas for you, leave my family to show you homes and get you in the house you want within your time frame all for nothing out of your pocket. Who says nothing is free anymore?
Also see: Want to see A House? Don’t call the Realtor on the Sign!
MLS Numbers Unmasked - What does it all mean?
Always be Prepared (for something to go wrong)