Realtor Manny Menezes recently received a tough request from a listing agent: If she chipped in some of her commission to make a deal work, would he do the same? Menezes was hesitant. He knew he was worth at least a 2.5 percent commission, nothing less. But he also knew the deal was stuck -- neither his client nor the seller were willing to budge on price. So he agreed to the discount. Both agents lowered their commission to 2 percent, and the home sold for about $1 million. “Initially, you’re never happy about having to give up commission, but you have to look at the big picture, and I did that and I decided it was the best thing to do for my client,” said Menezes, who owns Seekonk, Massachusetts-based Re/Max Elite. Should you give up commission dollars to salvage a deal? Agents have varying ideas about how to handle these sticky situations, though an informal poll suggests most would be willing to make the sacrifice, at least when it comes to high-end tra...
- If buyer's brokers are asked to cut their commission to save a deal, there are a number of ways to parry the proposal.
- But most agents think giving up some commission dollars to salvage a transaction is worth it, especially for high-end deals.
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Inman Connect San Francisco, Jul 16-20, 2018