informal commission survey

[StGeorgeUTproperty]

I received a call from a buyer, they suggested they will not work with a "buyers agent" as their goal was to obtain a better deal by cutting out the "buyers agent" and allowing the listing agent to reduce their commission so the buyer could absorb the savings.

Personal opinions for buyers agents aside...

how many of you (listing agents) actually reduce your commission in efforts to double side a deal? (this is for those agents who are allowed, by law, to practice dual agency).

This is just for my own curiosity...I do not intend to do anything with the info. Thanks!

[Sam Chapman]

I won't do both sides. Too much potential for lawsuits. I actually want to represent someone.

[RonnieG]

What you have brought up is called "variable commission". If the listing agent has negotiated such a deal with their sellers, the seller gets a discount as specified in the listing agreement. By NAR rules, this must be disclosed up front in the MLS. If it isn't, and a listing commission discount is later negotiated and taken, it could be a MLS and ethics violation. Otherwise, the listing agent gets the full commission per the listing agreement, so there is nothing to negotiate. I explain this to buyers, along with the potential issues of being unrepresented and taken to the cleaners by the listing agent, who never owes the buyer any fiduciary responsibilities, and they generally understand.

[1813611]

Years ago before I was licensed I attempted to negotiate a few deals directly with the sellers agent by asking them to reduce their commission since i wasn't using a buyers agent. I asked seven or eight agents to reduce their commission in this situation and none of them would agree.

Now that I'm licensed I frequently handle the buy and sell side and occasionally do reduce my commission in this situation.

[Justin Havre]

IF the both parties are close and neither will move I will ensure that the deal gets done. My goal is to get the results for my clients and if I have to make a small sacrifice here and there that is no big deal to me. Get the deal done and move on to the next.

[satxproperty]

I won't do both sides. Too much potential for lawsuits. I actually want to represent someone.

We also don't do both sides for this reason.

However, commissions may be re-negotiated anytime up until closing. Especially, if that is what it takes to get the deal done.

But, we have also lost significant deals over something as small as $500, because the other agent didn't want to reduce their commission when asked.

[judyo]

I will agree to reduce my commission if I procure a buyer if the seller requests it prior to signing the listing agreement. I do not offer to do this.

Like a couple have mentioned, if I'm a dual agent I would be willing to reduce to get the deal done even if it wasn't agreed on at listing signing.