Did you know that buyer agents typically collect and keep 45% of the commission charged by seller brokers (typically 2.7% of the purchase price)? In addition, nearly all Realtors charge a junk fee of $400-600. Regardless of skill or experience, they all get paid the same. And there is no way to negotiate this fee using their “standard” Realtor Association Buyer Representation Agreements. Yet, despite collecting tens of thousands of dollars, many buyer agents tell their clients that they work for free. Worse, those fees are concealed from home buyers. There is no record of the payment even on the closing documents. Consumers pay far more than they would pay an attorney to do the same job. I am an attorney and I charge far less than they do and I make a good living doing it.
Hire Me and I Will Refund the Buyer Broker Commission to you (similar to a commission rebate). When I collect the 2.7% commission being offered to me by the listing firm, I deposit this money in my attorney trust account on your behalf. I consider this to be your money, not mine. After the commission check clears my trust account, I refund the commission to you after I deduct my legal fees. I only get paid if I am successful collecting the commission. Hiring me should save you many thousands of dollars. Plus, you have a real estate attorney representing you instead of a Realtor.
With Me You Get a Refund of $4,980 (approximate). Sellers will typically pay me 2.7% or $9,450. My fee will be $4,000 plus a $250 non-refundable drafting fee and non-refundable $44 showing fees for each property you are shown. If you see 5 properties, my total fee will be $4,470. And it is only payable if I collect the 2.7% (except the drafting and showing fees which are owed regardless of whether I collect the commission or if you close). A Realtor will collect $9,450 plus their junk fee of $400 – $600.
With Me You Get a Refund of $4,980.
With a Realtor, they get paid $9,450 and you get back nothing, plus you pay an additional $400-600 at closing.
With Me You Get a Refund of $11,780 (approximate).
With a Realtor, they get paid $20,250 and you get back nothing, plus you pay an additional $400-600 at closing.
With Me You Get a Refund of $23,680 (approximate).
With a Realtor, they get paid $39,150 and you get back nothing, plus you pay an additional $400-$600 at closing.
With Me You Get a Refund of $57,680 (approximate).
With a Realtor, they get paid $93,150 and you get back nothing, plus you pay an additional $400-$600 at closing.
What Do Realtors Do? I can tell you what they shouldn’t be doing… They shouldn’t be providing you advice or negotiating for you if the house is listed by their brokerage firm – it is illegal (this is one of many reasons you should never agree to dual agency). They shouldn’t be giving you lending advice – that’s what mortgage officers do. They shouldn’t be appraising houses – that’s what appraisers do. They shouldn’t be inspecting houses – that’s what home inspectors do. They shouldn’t be giving you legal advice – that’s what attorneys do. They shouldn’t be recommending title companies – few of them understand what a title company does and most Realtors have such cozy relationships with title companies that it interferes with the neutrality of the title and closing services. They shouldn’t be attending closing – any advice that you might need at closing likely falls under the category of legal advice and it is illegal for them to give you legal advice.
Most Buyers Search and Find Their Own Houses. if you find your own house, why do you need a Realtor? They are extremely limited in the advice that they can give you. With me, you get all the same Realtor searching tools and you have an attorney representing you – ONLY you. It is illegal for attorneys to subject you to dual agency (it should be illegal for Realtors too).
Wouldn’t you rather have an attorney drafting your purchase agreement? I only represent consumers and I only handle residential real estate. Plus, I’m a Real Property Law Specialist, certified by the Minnesota State Bar Association. I have been a member of the Bar Association’s forms committee for many years. I also hold a real estate broker’s license and am a Realtor and MLS member.
I can only work with a few buyers at a time, so please call me to see if I am available. I love helping consumers save money on real estate commissions and I love educating consumers on the real estate process. Give me a call 612-284-9000 or email me: dougmill[email protected]