Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Negotiating Realtor Commission
I just found out you could do this, but we already have accepted an offer. Is it to late to negotiate now? If not, how would I bring it up? Do we have to have a reason for wanting to pay a lower commission?
Re: Negotiating Realtor Commission
Probably too late. They've already done a lot of work for you and you can't really say "Well, you've done a great job and got us an offer, but we just found out that we might be able to pay you less - waddaya say?"
. . . or you could say that, but be prepared for a shocked speechless response followed by uncomfortable laughter.
We negotiated immediately when we met our REA and added a clause to our contract - - essentially stating that if we found a buyer (via CL or whatever), then she would waive the portion of the 6% that would have gone to the buyer's agent - essentially lowering the total "fee" to 3.3% or something similar. She was fine with it and warned us that she has never seen it actually happen . . . and of course, it didn't.
I was also tempted to put in a clause stating that if the property failed to sell within X months, her comission would be lowered by a certain amount - - but we sold in 2 months so that wasn't an issue and I'm glad we didn't even bring it up when we met her - I think it would have created some needless tension.
Mine offered to lower hers when we received a contract. She knew I was going to be losing money on the sale, and the buyers did not have an agent representing them. She showed me the offer, the work up sheet showing approximately what I'd need to bring to closing, and then an addendum (sp?) to the contract to lower her commission. She said she was fine with lowering since she didn't have to split with another agent.
Depending on your situation, it may be too late but it might not hurt to ask if you feel it should be lowered.
Mine lowered hers (we didn't have a signed exclusive buyers agreement, but I knew what it would have been if we did) and so she's getting several thousand less, but (a) she did that on her own in the contract process (b) she didn't even tell me she was doing it! I asked her about it when I saw the contract because I thought it was a mistake...