House purchase through agent, now contract terminated

  • Erstellt am 2024-01-26 20:46:52

ypg

2024-01-27 09:36:19
  • #1

That has nothing to do with (un)fairness at all. There are no two parties playing for a medal or success here. Everyone only has to look after their own interests.

How? Coming out better? Buying a house is not a competition for the biggest piece of cake.

I find your thinking a bit “naive” and not at all constructive. Before, you would have also had to pay a commission.
How does it proceed? No different. Either you want the house or not. Ultimately, it is not he who sells, but still and previously the owner.
The broker has fulfilled his duty. Period. Otherwise, nothing changes and nothing has changed.

That is not noticeable since you are creating a side issue that is unnecessary.
Maybe you’re lucky and the broker is a sleepyhead?!
Put the money aside and buy the house.
 

jens.knoedel

2024-01-27 10:27:56
  • #2
Without the real estate agent, we wouldn’t even be talking about the commissions here. Because you might not have even been offered the house for purchase. So buy it, enjoy a great house and (depending on the agreement, which we still don’t know exactly) pay the agent for their successful work.
 

hanghaus2023

2024-01-27 15:11:55
  • #3
I also find that totally unfair. In the USA, the commission is usually paid by the seller. They usually make the profit. Unfortunately, different rules apply in DE.
 

jens.knoedel

2024-01-27 15:38:48
  • #4
In Germany, as a seller, you can also say that you want to pay the commission. Also quite normal. But in the US, a commission of up to 6% by the seller is normal, right? Here, about 7% is common. So quite comparable. Only the German sellers are stingier...
 

Tolentino

2024-01-27 18:17:01
  • #5
I recently saw in some HGTV (like) show on YouTube that commissions in the US are significantly lower. However, I don’t remember exactly how much and also don’t know if that applies universally. In the US, people move much more often, they are more mobile and used to buying and selling more frequently. So lower commission per sale/purchase, but higher frequency.
 

jens.knoedel

2024-01-27 19:10:32
  • #6
Just checked. The usual commission in the US is 5-6% of the final purchase price. However, other rules sometimes apply there. For example, as a listed agent with a client looking for a property, if you offer a property from another agent, you can benefit from an additional commission. In that case, the seller’s agent shares a portion of their commission with you (often 2%).

In the US, large real estate chains are often active, unlike in Germany. Over the past years, this has significantly driven up agent commissions - cartel law issues. Recently, in 2023, there was a billion-dollar fine against some companies and further lawsuits are pending.

... and financing is variable (often without amortization), which led to the last crisis.
 

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