Buyers' Slice Realty

I just met a wonderful young couple that is looking to buy a home in the Boulder or Louisville area here in Colorado. It’s not their first real estate transaction, but I’m betting it’s the first time they have gotten this excited when looking for a real estate agent. My commission rebate model for home buying is a perfect fit for them, and the guy wants to know what he can do to promote my unique real estate model here in the Boulder area!

I think so, but you won’t.

I drove by a top Boulder realty firm today…stone exterior, nice windows, sharp illuminated sign on a prime corner, and I think I even saw a fountain in the lobby! Well, you know enough about real estate to know that that costs a lot of money. Where does that money come from? Real estate commissions? Of course.

Next time you interview a Colorado real estate agent, make sure you ask them exactly how much you are paying, for what, and if there are any options. And if they have a big fancy office with a lot of people sitting around…look out.

Colorado home buyers commonly refer to their professional real estate representative as their “agent”…and that’s fine, most everyone understands that that term is used loosely and/or generically.   Example:  “You should talk to my real estate agent, they were great, helping me get a great deal on a place in Golden last year.”

But remember, if someone is a legal “agent” of another…they have what are called fiduciary duties to their master.   And “real estate agents” aren’t always agents—-in the legal sense.    If you are confused, call me.  🙂

No.   Then why do we pay them all the same?

Well, I guess we don’t.   Your buyers agent in the Denver-Boulder Metro Area typically makes 2.8% of the purchase price of the home.    In Colorado Springs, and many other areas working off the traditional 6% commission, the real estate agent working with the buyer gets 3% of the purchase price.

Anyway, there is much to be improved with the way real estate agents are compensated, but it seems like trying to turn a ship with a kayak paddle.   OK by me, I’ll just keep offering my commission rebates….they make sense and are a great fit for many of today’s Colorado home buyers!

Sorry…couldn’t resist the play on one of my favorite songs from The Who.    But a woman was telling me that she has been looking for Boulder County real estate with a buyers agent for many months, but suddenly the buyers agent seems less responsive and busy with other things as this woman desires to see more homes.   Then it occurred to me that this another advantage for those home buyers who prefer to see homes with the listing agents!   Not only do they tour the home with the real estate professional who is likely most knowledgeable about the property, but they avoid burning out someone like an exclusive buyers agent.

I see a Boulder REALTOR® advertising “15% for non-profits.”   Presumably they are donating 15% of their commission to a non-profit.    Sounds pretty great if you are a Colorado home buyer, huh?

Well how about getting 50% of my commission (in the form of a buyer rebate).   You could donate 15% to a charity of your choice…and still be left with 35%.   🙂

I have sponsored a great new website:  www.commissionrebatecalculator.com

If you are buying real estate in Colorado, you owe it to yourself to consider all options.   At this great website, you can enter in your own figures to see how much you might save if you pursued a buyer rebate on your next property!

"It's not my job."

I took this photo.   Seriously.  Wish I remember where, but I can see a person sitting on the striping truck thinking, “not my job.”  It reminds me of the listing agent that didn’t want to show a home to my buyer one time.  They were stuck in the old mindset that it is strictly the job of the broker working with the buyer to do the showing—no matter what.   Now most REALTORs® do not have this mindset, and they will stop the truck, get out, and show a home to one of my buyers if I am not available or the buyer otherwise prefers to see the home with someone who actually knows something about it.