Thinking ahead to the purchase of a small condo in a California town where there are not many such options. Once we go to a few open houses in that town and see examples of the condos available, we really won’t need a realtor to show us around, there just aren’t that many apartment complexes. Sounds like a perfect opportunity to try one of those online realtors and save a chunk of commission money. Then again, buying any real estate involves a lot of money that nobody wants to risk in any way, so maybe it’s best to go the traditional route and just pay the higher commission for peace of mind?
The buyer does not pay any commission in California. Not sure how you are going to save money for yourself. But, the Seller will save on commission if he/she is using a low rate realtor. But that doesn’t really help you in any way. Since you are looking for condos in a small town, you will have to work with whatever realtor the Seller is using.
The best way to save the Seller (and you because you can make a lower offer knowing Seller is paying less commission) is to work directly with the listing agent. So, when you see something at an Open House, or you see it on Zillow, Trulia or Realtor.com, call the listing agent direct. Make sure you are calling the listing agent, and not an agent who is advertising on the web page. Then the Seller is not paying the 2.5% commission that usually goes to the buyer’s agent.
However, you have to know enough to protect yourself a bit because the agent will be representing both parties in the transaction.