Commissions are negotiable, but a new tool for buyers is letting them do some of the work a realtor would and only pay for the services a Realtor actually provides.
Ben Matthews is like a lot of people in Houston. He's looking for a new home.
"Trying to find something that I like and can afford," Matthews said.
To help him save money, Matthews is turning to a new website that lets potential buyers find realtors willing to discount their services if the buyer has done some of the home search leg work.
"If you have a realtor that will help you with the things you need help with, and not with the things that you don't need, then you can get a certain percentage of the commission back," Matthews said.
The website is called jasonshouse.com and Nicholas Ripple is the CEO.
"You save on the services you can pass on and you still hire an agent for the important part, which is the transaction," Ripple said.
The website deals solely with Houston real estate and with licensed real estate agents on our area. Ripple says the first step of buyers is detailing where they are in the home buying process.
Buyers list if they have picked a home, lined up financing, arranged inspections and even contacted the seller. Ripple says realtors then offer discounts on the commission based on the work the buyer has already done.
"Within about 2 minutes you get competitive bids from local agents and then you can look and compare them and ultimately select an agent based on what you want," Ripple said.
The home buyer saves depending on how much the Realtor is willing to discount the commission. That varies depending on the price of the home.