Quote:
Originally Posted by Eric Coffey
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.
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Bingo. I have done that. A strong selling commission can make a big difference in a market with a LOT of listings and starving agents. I just upped the selling commission to 4% on a home the other day, sold it in 4 days at almost full price.
Quote:
Originally Posted by dennis in se pa
Both agents can take a slight commission % hit on a $300K house to close the deal.
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Not necessarily. Just recently I had a buyer in the 450-500k range, and when we were negotiating the deal the selling agent asked me to swallow 2k in commission. I politely declined, and said I could bring my buyer elsewhere... there's lots of listings out there including mine, so I wasn't going to give up any commission. The selling agent had to swallow it on her own.
On the flipside, I've had to swallow commission when I'm the selling agent, knowing full well that the buying agent isn't going to lose any $$. That's what a buyers market looks like.
Quote:
Originally Posted by stomachmonkey
Your contract with the realtor is for how long? If you are getting close to the end they will be motivated to close the deal rather than risk losing it, contract ending and you sign with someone else which means they got nothing for their effort.
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Not sure of the local RE rules, but 'round here if the house was shown while under contract, the listing agreement (and subsequent fees) extends past expiry if that buyer offers on the home