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The wife and i are shopping for our first house (first one for either one of us). We put an offer in last week on a house, and counter-offered a few times, but could not agree on a price that we felt comfortable with and that fit the market, so we walked. No bigge.. there are other houses. My wife felt our agent should have reduced his fees along with the sellers agent to make the sale. I guess i really don't agree with that. How many of you have ever cut your fees to make a sale? is it common? She has a girlfriend she works with that bought a house back in 2010. Both realtors cut their fees for the sale. But the house was only $79,000 to begin with so not much money was to be made upfront anyway, i am assuming.
Seems like your boss asking you to take a cut, so he can have a raise.
The wife and i are shopping for our first house (first one for either one of us). We put an offer in last week on a house, and counter-offered a few times, but could not agree on a price that we felt comfortable with and that fit the market, so we walked. No bigge.. there are other houses. My wife felt our agent should have reduced his fees along with the sellers agent to make the sale. I guess i really don't agree with that. How many of you have ever cut your fees to make a sale? is it common? She has a girlfriend she works with that bought a house back in 2010. Both realtors cut their fees for the sale. But the house was only $79,000 to begin with so not much money was to be made upfront anyway, i am assuming.
Seems like your boss asking you to take a cut, so he can have a raise.
comments? Thoughts?
You didn't think the house was worth as much as the owner thought it was. No Problem. Why would your wife think that someone else should contribute some of THEIR money, so that you can pay more for something than you believe it's worth?
Just out of curiosity, did you ASK the agents to cut their commissions, or did your wife think he should have just volunteered to do so?
My wife and I own a real estate company on Cape Cod and it is our company policy not to reduce the commision but we have on rare occasions to help put a deal together. It does depend on the deal however, the people involved, the time invested, the money at stake. What the public outside the profession doesn't understand is the work that is involved leading up to the closing. They all think we are millionaires so why not cut our rates.
One time at the closing table there was an issue and the lawyer suggested that the 2 agents work it out and my wife said how about you reducing your fees instead? he did.
I have cut my fee one time in 9 years as an agent. It wasn't at the start of the offer either. Something came up later in the transaction and I and the listing agent went down a bit to help the seller do a repair for my buyer. The seller was super tight money wise and my buyers were super easy clients so it was a no brainer to cut my fee.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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If buyer and seller are a couple of grand apart on a $200k transaction, I've offered to split the distance with the other agent. As the broker, I don't split my fee with anyone else, so I have far more latitude than a regular agent.
I don't care to do it, but I'd rather have a smaller slice of something, than not make anything at all. As the market returns to normalcy, I'm sure I'll be even less inclined to do it.
She didn't ask our agent to do it but she mentioned her friends agent did it. Ours did mention that came up in a seminar he took a few weeks ago and said it does not happen that often and is happening less and less.
I would not like it if after I completed a project, my boss asked me to take a slight pay cut because he wanted more take home that week.
My father would do it in a dual agency situation but only occasionally as an agent representing only one party.
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