The following is an excerpt from a recent Robert Bruss article in the San Francisco Chronicle. Click here to view the entire article.
Q: When we listed our home for sale, we followed your advice to interview three successful local agents. I'm sure glad we did.
The agent recommended by a neighbor turned out to be a part-time agent and full-time schoolteacher. We selected another excellent agent who gave very professional service. Our listing went into the local multiple listing service and on the Internet at Realtor.com.
The first weekend our agent advertised an open house, she sold our home for $7,500 more than the asking price. There were multiple offers. Because she had our listing less than a week and sold it at the open house without having to split the fee with a buyer's agent, we asked her to reduce the 6 percent sales commission.
She refused and became very indignant. Except for that, we were very pleased with her service. Do you think she should have cut her commission for an easy quick sale?
A: No. When you listed your home for sale with that agent, you signed up for full service, and you received it. Just because your agent was quickly successful and able to earn a full commission by obtaining a purchase offer from an open house prospect doesn't mean you should cut her fee.
But I don't blame you for asking. If I were in your shoes, I also would have asked for a commission reduction.
Depending on the amount of the commission, if I were in the agent's shoes. I might have agreed to adjust the fee a bit to make you a very happy seller who would refer her to your friends.
Experienced agents know their best source of buyers and sellers is happy past clients. If that agent had cut her commission by $500 or $1,000, you probably would have been satisfied, and she would get your referrals.
More questions about what defines "full service" from an agent? Questions about buying or selling a home? Contact me today for honest, experienced answers.
Amy Blakeley, Realtor®
ablakeley at mcguire.com