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Old 02-08-2009, 01:27 PM
 
1 posts, read 1,790 times
Reputation: 10

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Here is the basic rundown...

Townhouse is developer owned. List pricing is $350K with 3% realtor commission +$2000 bonus.

Seller countered our initial offer (I admit we low-balled our initial offer on a townhouse that has been market for 280+ days), with $340K with 1.5% with no bonus.

I (the buyer) actually caught it immediately! Our counter was $340K w/ 3% commission+ $2000.

The seller has actually countered back with $345K w/ 3% commission + $2000.

While, I know that negotiating the agent's commission on a contract is illegal, he is using the fact that the listing was taken off the market a few days prior (he had someone sign a rental lease - which to me shows that he needs income coming in on the unit).

Thoughts? Opinions?
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Old 02-08-2009, 01:40 PM
Status: "Planning for the future." (set 1 day ago)
 
Location: Just south of Denver since 1989
10,688 posts, read 28,537,224 times
Reputation: 6860
I would want to know if you can negotiate the brokers fee in a purchase offer.

Just make your best offer and hope it's a winner.

Wouldn't it be easier to have an agreement with your agent to credit you the difference between the agreed upon fee and the overage? Then you can let your offer stand on its own merits?
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Old 02-10-2009, 12:49 AM
 
Location: Johnson City, Tennessee
189 posts, read 486,811 times
Reputation: 98
My firm does not allow for buyer's to set a price of commission for the agents. The commission is agreed upon between the seller and listing agency.

If I am representing a buyer that I truly feel has a need for a reduced commission to close a deal on a house they really like, then I will cut my commission, but otherwise.....I have to pay my advertising, licensing, education, ect. I need my money!
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