Question: I listed my house with an agent at a price of $1.515 million with a 5% commission. A week later, I received an offer for $1.5 million from a buyer who had driven by the house, saw the yard sign and called the listing agent. The buyer was not working with an agent …
[Therefore the listing agent would be able to keep both sides of the commission – earning $75,000, instead of $37,500 (but split with the listing agent’s broker company)]
When my agent presented the offer to me, I said it was attractive and asked him to reduce his commission by $10,000 since the house had sold much more quickly than anticipated (reducing his cost, expenses and time) and therefore, he was earning a much higher commission than anticipated. No advertising has been done other than developing a flyer and posting a sign in the front yard.
… I would appreciate your opinion on this. Is it reasonable to reduce the commission under these circumstances or was I completely out of line? Needless to say, I will never use this broker again …
Hmmm. What do you think? Should the real estate agent give back some of his commission? Why or why not?
Columnist’s Answer: Can I Ask My Agent to Accept A Lower Real-Estate Commission? – By Lew Sichelman, MarketWatch by way of The Real Estate Journal