Over the past year I have read different blogs on somebody complaining or wondering if they should do this or that. So here is my re cap>>>>>
1.) You the listing agent are working a short sale. You have an offer. The negotiator comes back and tells you that you need to reduce your commission to get the deal done. WOULD YOU OR WOULDN'T YOU? I don't like being told what to do but I would, simply because I work for the seller. It's my job to get the deal done. Sure I would love the full 3% but I was always taught something is better than nothing. If it will seal the deal I will take a little less to get it done.
2.) You get a phone call about your listing. It is a new listing and somebody wants to see it but they have an agent that is not available. WOULD YOU OR WOULDN'T YOU GO SHOW IT? My thoughts on this one is multiple questions. My first question to the buyer would be, is where is the agent? On vacation or a family member sick then I would show it. Just unavailable just this very minute then maybe not. I would show it because again I am working for the seller TO SELL THE HOUSE. I think it would be wrong not to go out of the way to show the house in order to sell it especially if you are just sitting in the office. You never know. BUT I WOULD ALSO QUALIFY THE BUYER AND SEE THE PRE-APPROVAL LETTER BEFORE I DID THE OTHER AGENTS WORK. Going the extra mile might make the sale.
3.) This one I have never read on Active Rain but I have heard about agents doing this. You are sending listings to your clients. Some only offer 2.25% instead of 3%. WOULD YOU OR WOULDN'T YOU SHOW THE LOW COMMISSION LISTINGS. To me this is a no brainer. Show the listings all of them. Again you never know when it may be the home of your clients dreams. Again I feel it all averages out.
4.) Your buyer is close to closing. He has maxed out his 6% closing concessions. He is short $400 on the day of closing. WOULD YOU OR WOULDN'T YOU GIVE HIM $400 ON THE SIDE TO BRING TO CLOSING. No way that is fraud. Any side deal that is not on the HUD is illegal. To lose your license, to commit fraud, or to go to jail to help a client get a house is wrong. It's best for your client to try to get the money from family. Side deals that aren't on the HUD between the buyer and seller may come back to bite you. It's fraud.
Bottom line for me is to help the client close the deal even if it means giving up a little extra time or a little bit of my commission. What you would do is up to you. It's your real estate business your commission. And I'm not your judge so whatever you decide good for you.
May you and your family have a great Thanksgiving
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My Month of April quote:
"Sometimes the only way to get to the far shore is to lose sight of the shore you just left"
Russ Ravary
"helping make your move easier"
your local Metro Detroit Realtor helping clients like you sell and buy homes through out the entire Metro Detroit suburbs. I love showing and selling Oakland County and Livingston County Lake front homes too.
Russ, I would take less commission to get the deal done. The buyer wants the house and it's the right thing to do. Also send lower commission houses - again, it's the right thing. But I know agents who would not. Usually those houses are problem houses anyway and they don't like them. I would show the listing if the other agent had a real reason - not just being lazy. I'm in total agreement with you!
Russ,
Wishing you and yours a Happy and Safe Thanksgiving.
I always thought that 100% of zero was zero and I would rather make a little off of many transactions than a lot off of a few but I do like the mix of both.
If I am available then I show it because I do work for the seller under a listing agreement. If the potential customer does not have a Buyer/Tenant Representation Agreement with "their agent"' then I would be more than happy to write a contract for them. I am seeing more of this in my MLS: If listing agent shows home a commission of 1% for buyer's agent.
I would show and do show all the homes (home for buyer, house for seller) that are in the area and price range for the criteria I have been instructed to pursue.
If I can get it on the HUD and I am allowed to pay, then I pay no prob-lem-o. If it is not illegal or violates the COE then it's a no brainer.
It always irritates me when I hear Realtors say that they won't show a listing that's less than x%. How selfish.
Just wanted to stopy by and say:
Russ, I love your attitude of putting your seller first when it is on the up and up. I believe that in the end, your business will still fluorish beyond what it seems you gave up.
Russ,
Enjoyed your viewpoint as a consumer, but have to say that as a business person I don't agree with getting something versus nothing. We each have a choice in every business to take what shows up or to be selective in what and who we want to work with. I know in these economic times agents are a lot more flexible that usual, but that doesn't mean you can't be creative in your response to client's rather than giving them your commission.
Having bought 4 homes and sold 3 and never used the same agent twice even when 3 of the transactions were in the same state, I find that many agents are too eager for any sale and don't put forth genuine effort to build a winning relationship with the client and demonstrate their real value. When the value in service provided exceeds the monetary value, there is no question that the client will not only refer but become a lifetime client and be infinitely less likely to demand consideration oon commission.
Just a consumer and entrepreneur's perspective!
Working for the Seller means doing everything in our power to help them sell their home. Working for a Buyer means finding them "the right home" that meets their needs. Sure we would rather sell the home with the full commission, heck, throw in a selling bonus too, but what we really want is for them to be as satisfied and happy with their purchase as we were 13 years ago. Finding an agent that took their time to work with us until we found the right home - even if it wasn't their listing and even though it was the Friday after Thanksgiving, meant the world to us. Our first experience with an agent was a 45 minute drive to a few of their own listings and then dropped us back off and said "well, that's it guys." We have always followed the Golden Rule and in doing that we feel you can't go wrong.