Fixed Flat Fee Just to Write Buy Offer

1

Hopefully not too touchy a subject…

I’m a buyer again (not RE professional). And I find myself doing all the critical work — the research into comparables, the legwork driving to look at each property, the conversations trying to discover sellers’ motivation, etc.

And when ready to make my buy offer, I want to save on the usual 2.5% or 3.0% hit on commission. I fully understand the consumer-feeding lingo and reverse thinking that the fee is paid by the seller, but when the buy offers are tight on a property, I can still potentially get an edge. I can also write up a private contract whereby the 2.5% or 3% gets repaid to me afterwards.

Moreover, I plan to make many many “tight” offers on multiple properties in several areas simultaneously. Of course, I should just get my own license for the purpose, but let’s say it’s a one-time thing for the question. So, as you can imagine, my offers could be deemed “low ball” by the seller although it’s just business. I wouldn’t want to insult the listing agent or make him/her feel reluctant, like in dual-agency.

AND, even more important, I’ve already found several semi-retired acquaintances, investors, etc, who are NOT active in RE but just happen to hold a license from their background. They are merely idle and could try to be helpful to me. They would be glad to do just the paperwork etc. My request to them is in itself a gift they don’t expect.

So the big question is:
What kind of fixed flat fee can I offer from the bottom up just to write the buy offer? For example, if it takes just few hours total, is $300 generous enough? Would that cover the paperwork time and effort? They would keep the $300 regardless of my buy offer getting accepted or counter-offered by the seller.

And I would repeat this multiple times simultaneously. My total expenses of XX multiples of $300 can still be less than any 2.5% commission on a single bloated transaction.

Bigger question is:
What else can such a semi-retired RE person propose that is of value?

Anything else to consider?

2

1% to buyers agent is the best you can do

3

I think this goes for real estate attorneys as well.

Can you not write your own offer yourself?

4

Might work in a buyers market. Not in this insane sellers market. What realtor wants to nurse maid an amateur offer? Better off just having the listing agent write the offer and getting a kick back.

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5

You become a realtor, just write that exam and work with a broker…That is it.

6

“Getting the kick back” is exactly and only what I’m seeking. And having them (whoever with license & willing) do it is also to avoid an “amateur offer.” Speaking of which, what exactly constitutes amateurism in a buyer’s offer? If you answer “low price,” you’d only be fooling yourself. The unexpected unsolicited fee paid to somebody with a license is precisely for the purpose of using proper forms and knowing which forms to use, etc.

Unless there’s something else that constitutes “amateur offer?”

7

Would be nice for my next transaction. Now it’s not quick enough. I’m in-between home ownership and need to transfer my capital gains quickly.

8

If I would accept your deal and write offers for $300 a piece, I would make sure non of them get accepted. After all, you would not pay for the remaining work after acceptance, right?
A brief call to the listing agent and your $300 offer goes in that special round file.

Then I would write the next $300 offer for you.

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9

I wonder if you are serious.

10

But there’s no stipulation that I’m hiring you alone to write more offers. Nor would you have incentive to get the offer accepted for the same reason. It’s just $300 or zero. Remember this is not for active RE agents.

11

Stop wondering and use your logic.

More importantly, instead of just doubting the question. How about offering what else to think about such as your first reply about dumping the offer for no reason — which is possible but not plausible.

12

As I said, non payment for work after acceptance is a strong motivation to make sure it won’t get accepted.

Have you looked into Help-u-sell? Maybe they help buyers too.

13

But what would you assume to be “non payment?” The written check would be good to clear.

14

Real estate agent could be hired by the hour theoretically. But there are specific requirements like an AVID that take a lot of time. Good luck in finding your special discount agent. Even a $3000 fee would probably not entice most BA agents.
You get what you pay for. But in this market it is best to worry about getting the property and not so much about the cost savings.
Approach the listing agent. See what deal they will offer.

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15

I would get $300 to write the offer regardless of acceptance. Most work is after writing the offer.

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16

What exactly is “AVID that take[s] a lot of time?” If it truly takes more time, then I would gladly increase my flat fixed fee. This is the constructive criticism and dialogue that I seek here in this forum.

17

Sure. It’s negotiable. My example $300 for discussion here is not set in stone.
So tell me what kind of “work is after writing the offer?”

18

AVID?
Hire an agent and find out. This proves your lack of knowledge and means most agents will demand from you a full commission. Like I said a 1% fee is about the best you can do for a discount

19

You sidestep the question posed in this forum.

Remember, this is only a question here. You can choose to ignore it at any time — whether you don’t know how to answer or feel uncomfortable about answering honestly and helpfully.

20

1% to 2.5% fee depends on your knowledge and negotiation ability. Take the real estate exam and learn the business or pay the freight…