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I base the following strictly off of your side of the story.
I'd say the SIL is being greedy at this point. She did nothing to market the home. She has done nothing to help select an agent other than ask for a referral and that w/o even telling the family what it is. I would say no, she isn't entitled to it. Perhaps instead of giving her the referral and costing a hard working agent 30-35% of the commission just ask that agent to reduce the list side commission by 15-20% or pay for the home warranty or something else of value in lieu of a referral fee. That way the whole family benefits and it doesn't cost the agent as much.
You make me laugh.............. I wish my husband could look at this situation similar to what you are saying. He is one to stick to his principals and sometimes, it's just not worth it!
I'll pass along your insightful message......... thanks!!
elljay
Quote:
Originally Posted by chet everett
There is NO current agent. The SIL is "leaching" as they interview propective agents. If the listing is signed with THE BEST AGENT and that agent agrees to toss the SIL a referral consider it "hush money" as maybe he/she knows that things will be easier with the SIL keeping her lazy mouth shut...
Just as janecj's sibs are squabbling over a counter on her dad's place it is always easier to keep the potential squeaky wheels well greased.
Smart Realtors know that SOME money given to a referal or a cooperating broker beats the pants off a deal falling apart over a small amount. Most successful Realtors will NOT "throttle down" the important things JUST because a commission is lowered, of course they are not going to waste caviar showings on an "Archie Bunker" house either.
On the other hand even if the BEST REALTOR that you decide to sign the listing with does NOT agree to the referral MAYBE SIL will come to the realization that NO SALE == NOTHING FOR NOBODY, keep your fingers and toes crossed on that one!
Thanks for understanding what I have been trying to say!
The agent already said she will not reduce her commission. If we pay for the home warranty, how would that satisfy his hungry sister?
elljay
Quote:
Originally Posted by Brandon Hoffman
I base the following strictly off of your side of the story.
I'd say the SIL is being greedy at this point. She did nothing to market the home. She has done nothing to help select an agent other than ask for a referral and that w/o even telling the family what it is. I would say no, she isn't entitled to it. Perhaps instead of giving her the referral and costing a hard working agent 30-35% of the commission just ask that agent to reduce the list side commission by 15-20% or pay for the home warranty or something else of value in lieu of a referral fee. That way the whole family benefits and it doesn't cost the agent as much.
elljay, I am sorry if my assumptions are incorrect and I apologize for offending you. I will stand by my statement that it is a very hard situation for all involved. I'm sorry I can't offer any more advice.
Not much more to add.. although I'm surprised the SIL (as forthwright as she is) has not asked her Broker if she can not split the fee with their firm. Maybe she didn't think of it...yet.
Emotions are getting in the way of the big picture. That's why it is so hard to get things done like this. Siblings start bringing up things 20 years ago and still haven't been able to let it go. Again, Good luck.
Thanks for understanding what I have been trying to say!
The agent already said she will not reduce her commission. If we pay for the home warranty, how would that satisfy his hungry sister?
elljay
It will save her a few bucks. The whole family would net a little more, albeit your SIL gets the same benefit as everyone else. She seems to want and expect more than the rest simply because she has a license. She had an opportunity and didn't take advantage of it.
I'm sorry for all your troubles. It happens often when the parents who have generally kept the family together either pass or are ill. Sometimes people just don't know how to behave.
As for the referral fee, there is nothing saying that the SIL's broker is keeping any part of the fee. Often times, when it comes to family properties, the broker will not share in the commission... they'll just pass it on to the agent. So, if that is stuck in your husbands craw, it might not be an issue.
An agreement of referral is between the listing broker and the broker of the other agent. It doesn't matter if she actually referred the listing or not. If the brokers agree to a referral fee, then a fee is paid.
I wouldn't presume to tell you what to do or not to do. It's such an emotionally charged situation and I don't think it's going to go 'smoothly' whether you agree or you don't to the referral fee. It's just going to suck all the way through to the end.
I wish all of your family the best. It's difficult. Only thing I can say is you aren't alone in your experience.
And by the way...to the person who said something to the effect...you're only an inlaw, let me tell ya something. That makes her family. The fact that she may not have her name on the deed, her husbands name is on that deed. And that's her family. She has every right to speak her mind and be concerned about her husbands well being and the well being of the rest of her family.
And by the way...to the person who said something to the effect...you're only an inlaw, let me tell ya something. That makes her family. The fact that she may not have her name on the deed, her husbands name is on that deed. And that's her family. She has every right to speak her mind and be concerned about her husbands well being and the well being of the rest of her family.[/quote]
Is her husband's name in fact on the deed? MIL is still alive and in a nursing home. I used to work in a nursing home and found the management of declining assets even more stressful than liquidating an estate. OP mentioned elder care attorneys, and medicaid specialists which is helpful, because even after the sale there may be care expenses that are ongoing and need to planned for. Medicaid and Medicare do not cover all expenses and usually any profit from the sale of an asset is directed toward that care.
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