652,663
I explain how agents get paid and Relocation agents sometimes have to pay up to a 48% referral fee. Third party Relo buyers are the best ones out there for certain properties and if you want to make the show list the co-op can be an important factor.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Candice A. Donofrio
Fort Mohave, AZ
1,600,181
I advise on what we are supposed to do ethically and then that not all agents are ethical. Their are those like me that have every buyer under contract and show every listing that is a possibility for their criteria. But, those that don't, will certainly look at commission as a way of prioritizing what they show. I ask the seller to think of the commission as one of the big impact tools in their marketing toolbox. (Or like a big piece of cheese on the trap). Human nature will trump ethics often in this industry, I see it a lot, so seller beware.
Selling agent commissions follow trends too, they are not set in stone. Some markets you have to post 3%, others, 2.5% is the "going rate", so that is a factor too.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Candice A. Donofrio
Fort Mohave, AZ
4,800,282
They are in competition with other similar homes. An agent will typically pick two or three homes in an area to show their buyers. Which ones do you think they would pick?
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Tony and Suzanne Marri...
Scottsdale, AZ
1,579,493
I'm feeling a theme to your questions? yes, I suggest a larger co-broke
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Tony and Suzanne Marri...
Scottsdale, AZ
634,582
See my answer to your next question, Tony and Suzanne Marriott, Associate Brokers. Some buyers consider it a sign the seller will be problematic.
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Tony and Suzanne Marri...
Scottsdale, AZ
1,529,854
I do not. If my buyer wants to see a home, I show it. Only exception is if it is listed by an agency known for illegal/unethical practices.
I know of one agent that almost lost a buyer over the commission amount. She said "I won't show that house becaue they don't pay enough." The buyer went directly to the agent and almost bought the house. She didn't care about the agent's commission. She almost started working with the listing agent as a buyer too! She was under a buyer's agreement too, which the original agent negated by refusing to show her a home.
That agent really screwed up! Instead of having a smaller piece of the pie, she almost got nothing!
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Tony and Suzanne Marri...
Scottsdale, AZ
1,090,375
Straight up. We work on commission. We are not supposed to concern ourselves with the amount, and it really should be between buyer and their agent, but if your property is in consideration along with others paying a greater split, is there a chance that it will end up on the bottom of the pile?
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Tony and Suzanne Marri...
Scottsdale, AZ
1,677,896
Yes I fully explain how commission works. If they still want to go lower I explain how this can and probably will affect the selling of the home.
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Tony and Suzanne Marri...
Scottsdale, AZ
316,098
I fully explain the commission structure. Once they see how many splits there are, most no longer feel that they are being 'gouged' (a word one FSBO used with me on a listing appt!). The average consumer has no idea of the commission structure - as an industry we have done a lousy job educating them on this point.
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Tony and Suzanne Marri...
Scottsdale, AZ
921,504
I suggest that many agents, like myself, will discuss how they are paid with their buyers. Further explain that many buyers CHOOSE not to see real estate where costs traditionally paid by the seller is passed onto the buyer.
"If you were a buyer," I continue, "would you not agree to exactly the same thing?"
Sellers have explained to me the reason they want to reduce buyer compensation is due to buyers being rebated dollars the seller agreed to pay the buyer agent. I can't blame the seller for this response.
I wish I know how to specifically address rebate situations.
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Tony and Suzanne Marri...
Scottsdale, AZ
6,617,246
3,762,439
They may get plenty of showings, but the buyer brokers might secretly hope that their clients hate the place.
8,077,126
No. I would show them the properties that would best meet their needs even if the compensation might be lower than desired.
3,986,423
Yes, on certian types of homes and price range...Easy to explain...Wouldl you change your job location doing the same work for more money...same thing here
617,935
Tony and Suzanne,
I deal with it in passing. Not something to dwell on unless a very expensive listing.
5,773,924
Tony and Suzanne,
We never had to explain, It was well known that we would share equally in the commission. You seem to have something unanswered in this whole scenario given the number of questions you have asked that are similar. What exactly are you trying to have answered? A