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Originally Posted by speeder
I'm not an expert on the particulars of RE commissions but it seems like Craig should not have to pay that agent anything since he did't hire him. He's working for the buyer's fee, right?
And what everyone else said, if you take the offer, make it contingent on you staying until an agreed date. And whatever you do, make damn sure you're really netting top dollar on it. If you put it on the open market, at least you know for sure that you got what you could for it.
I have a couple of friends who overpaid for high-end houses in recent years in L.A., IMO and because they could not turn around and sell them for what they paid a year or two later when they changed living plans. That is not supposed to happen in SoCal these days and I'm talking before rates started going up.
I think that their RE agents told them they were getting a good deal, (market value), when they really just did not want to put in a lower offer because they wanted the sure commission. Only relation to your situation is the subject of games RE agents play.  |
One thing about this market is that if a lower offer is made, its just a waste of time and effort. Buyer is just not going to get the house. The tricks they play and has been for a long time is to list it way (you can determine that) low and take offers and only look at top ten and go back to those ten to create a bidding war. Most serious buyers know that they have been at it for 6-9 months, sometimes more, writing offers over asking and getting beat up physiologically. So they find a house they really like, they write one big offer and kill off all competitors making that their dream home. Driving up the market all the time. Agents know that emotional roller coaster. Some take advantage of it