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How many home sellers out there have reduced commissions before signing the P&S agreement to compensate for low ball offers and poor ability of agents to get reasonable sales prices on your home?
Aren't most agents willing to accept less? After all something isn't better than nothing?
Have any agents ruined a deal (told their buyers not to go though with it) when a seller did this?
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,242,078 times
Reputation: 6469
Real Estate commissions are negotiable and I always hold firm on my rates at the beginning. I've conceded commission dollars during negotiations when that would make a difference between success and failure, but I would disagree with your characterization about "poor abilities to get reasonable sales prices".
I get paid more if I get a full price offer. It's in my best interest to get the best price I can. Maybe someday I'll have the ability to implant the phrase "pay the asking price" into my buyer client's psyche, but until that happens, my duty to both parties is to put something together and help them arrive at a mutually agreeable price.
How many home sellers out there have reduced commissions before signing the P&S agreement to compensate for low ball offers and poor ability of agents to get reasonable sales prices on your home?
Aren't most agents willing to accept less? After all something isn't better than nothing?
Have any agents ruined a deal (told their buyers not to go though with it) when a seller did this?
If a house is listed for $200,000 at 6% the total commission for both agents would be $12,000.
If an offer was accepted at $180,000 the seller would be taking 10% less and in doing so the agents would also get 10% less.
I take it from your thinking that the agents should be willing to accept 5% instead of 6% since you took $20,000 less.
So you would still be getting 10% less but now the agents would be making 25% less. (Actually you would get a little more since you want to cut the agents commission)
When you list a home for sale you sign an agreement to pay a certain amount upon closing, why should the agent accept less after everything is done just so you can make more?
I wonder how you would respond if your boss told you that after he/she decides you didn't live up to their expectations during the last pay period.
"Hey emily.....I know we have a contract with you to pay $XYZ, but I don't think you did as good of a job as you could have this month....so we are docking your pay 25%. Why are you upset? I mean something is better than nothing right?"
I wonder how you would respond if your boss told you that after he/she decides you didn't live up to their expectations during the last pay period.
"Hey emily.....I know we have a contract with you to pay $XYZ, but I don't think you did as good of a job as you could have this month....so we are docking your pay 25%. Why are you upset? I mean something is better than nothing right?"
That is sure to be a crowd pleaser.
I think a better analogy would be, We know we told you we would pay you $X amount for this week but the company wants to make more profit so we are only going to pay you $Y amount.
I wonder how you would respond if your boss told you that after he/she decides you didn't live up to their expectations during the last pay period.
"Hey emily.....I know we have a contract with you to pay $XYZ, but I don't think you did as good of a job as you could have this month....so we are docking your pay 25%. Why are you upset? I mean something is better than nothing right?"
I wonder how you would respond if your boss told you that after he/she decides you didn't live up to their expectations during the last pay period.
"Hey emily.....I know we have a contract with you to pay $XYZ, but I don't think you did as good of a job as you could have this month....so we are docking your pay 25%. Why are you upset? I mean something is better than nothing right?"
That is sure to be a crowd pleaser.
Yeah but what if you had discussed it and orally agreed to it 6 weeks before but then as the time grew nearer
decided you didn't like your decision? That's what's happened here.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,242,078 times
Reputation: 6469
Quote:
Originally Posted by emilybh
Yeah but what if you had discussed it and orally agreed to it 6 weeks before but then as the time grew nearer
decided you didn't like your decision? That's what's happened here.
Who discussed it with whom? If I told you I would do that, I'd back it up (and hate myself for having said it) no matter what the paperwork said.
I recently had a transaction where the seller was pleading abject poverty and I told her I would help out as much as I can when it came to closing. The preliminary title report came back and she's walking with $250K in her pocket and I'm pretty sure I will make someone who wants my money to prove to me they can't afford it.
I hate little old ladies that sandbag me.
Last edited by DMenscha; 11-02-2007 at 05:24 PM..
Reason: spelling
I think a better analogy would be, We know we told you we would pay you $X amount for this week but the company wants to make more profit so we are only going to pay you $Y amount.
Actually a better analogy would be: you saw the sales quota and the commission associated with each revenue amount provided 6 weeks ago. Considering your sales were less than the lowest level, don't whine and complain that you aren't getting paid at the highest level.
I actually did give the agent different price points and what the commissions would be reduced to at each one and he said he "had no problem with that". The lowest price point was $7500 more
than what the selling price was.
Now he's threatening to ruin the deal if he doesn't get the highest commission level and claims he doesn't agree even though he received multiple written messages with the commissions spelled out.
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