Quote:
Originally Posted by Instrument 41
My bottom figure, after commission is $283. How should I approach him with this info?
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What is your listing agreement percentage (total)? Assuming a 6% commission, your bottom-line net figure ($283k) is $1000 more than you would net even if you got a full-price offer of $300k. Even then, you will typically net even less when factoring in closing costs.
If you agreed to a discounted listing fee to begin with and your agent is offering a commission co-broke that is well below industry standard, your property will be overlooked by buyer's agents. Obviously that isn't how it is
supposed to work, but that is the harsh reality of the situation.
If you find an agent willing to discount the listing, I would want them to discount his/her side only, and not the buyer's commission side. In other words, if you agree to a 5% listing (as opposed to 6%), stipulate that they take 2% and offer 3% to the buyer-broker.
That said, if the house has sat on the market for 5 months than you are likely overpriced (or severely under-marketed). Good luck!
