The answer to that is easy...NO. There are so many reasons I don't like to (and never will) negotiate commission to sell a house. Most people don't know I will spend most of my own money marketing the seller's property and making sure it gets seen by as many people as possible. Postcards, newspaper ads, and my own website (www.upstatenydreamhome.com) cost me to use. I don't mind spending the money on clients, because I know to sell the home takes more time then just plopping down a sign in the front yard and walking away.
I would also think sellers would want an strong agent that is willing to WORK for the amount he agrees on and not negotiate the asking price on a house like he may negotiate his own commission!
Another thing the public may not be aware of...
The percent of the commission in the listing price is usually spit a few ways between the buyer's agent, selling agent, AND those agent's brokers.
Here is a great blog from my Broker about things like commission...
http://villagegreenrealty.wordpress.com/2011/04/20/commission-escrow-filed-in-ulster-county-new-york/
I KNOW I work hard for all my clients and earn every cent of my commission!
I would also think sellers would want an strong agent that is willing to WORK for the amount he agrees on and not negotiate the asking price on a house like he may negotiate his own commission!
Another thing the public may not be aware of...
The percent of the commission in the listing price is usually spit a few ways between the buyer's agent, selling agent, AND those agent's brokers.
Here is a great blog from my Broker about things like commission...
http://villagegreenrealty.wordpress.com/2011/04/20/commission-escrow-filed-in-ulster-county-new-york/
I KNOW I work hard for all my clients and earn every cent of my commission!
I am surprised at how few agents tell their clients what you just did in your post! When sellers hire me before they choose an agent, I tell them NOT to negotiate the commission--in fact, I gave this advice to my own daughter who is selling a co-op in NYC.
ReplyDeleteI further explain that after the other agent gets paid and brokers take their share, unless it is a very high end property, there isn't a huge piece left for their agent! When I put it this way by discussing who else gets paid, my sellers really get it! I am a strong believer that when you give people information and let them educate themselves, they will almost always reach the right conclusion.
So, I say agents shouldn't be so protective--tell the seller what happens to the "commission pie" and let them see the benefit to having a well-fed, er... I mean well-paid agent! : )