No reason for reduced commission?
Lowered asking price already cuts compensation
By Benny Kass, Monday, June 8, 2009.DEAR BENNY: In a recent column you wrote about getting agents to lower their commission if the seller lowers the asking price. Isn't it obvious that the commission is automatically reduced when the price goes down, as it is a percentage of the property price? There's no reason why the agent should reduce the commission beyond that automatic adjustment. --Dianne
DEAN DIANNE: Yes, it should be obvious, but from my experience, I have encountered agents who insisted on getting the commission based on the listing price and not the selling price. The listing agreement entered into between the real estate broker and the homeowner should make this clear.
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