Brilliant you think! Real Estate Agents don’t really do too much do they? Why not get a Real Estate Agent who will sell a home for less money. Oh, yes….this will work good too.
Now that they’re in retirement, the kids have all moved out with families of their own while Robert and Patricia decide it’s time to downsize. Plus, living on a fixed income certainly makes them keenly aware of how they spend their money and they really need to sell their home; what better reason to offer the Real Estate Agent they hire a reduced commission. They’ll just hold firmly and insist. That’ll work. They’re sure the Real Estate Agent will understand and easily accept any reduction that they ask for regarding the commission to be paid.
Robert and Patricia discovered what happens when they hired one of the five Real Estate Agents interviewed who accepted their request to sell their home for a reduced commission.
How does this strategy fail?
Ever hear of you pay for what you get? How easy was it for Robert and Patricia to get the Real Estate Agent to reduce his/her commission? Easy? If so, how easy will it be for a Buyer to get your Real Estate Agent to get you to reduce the price of the home you’re selling? Can you see it now? Your
Real Estate Agent will say, “Sure, Robert and Patricia really need to sell their home, so I’m sure they’ll accept less money”. What? Why is your
Real Estate Agent revealing such private information about your need to sell your home? This is definitely a no-no when trying to corral the most money for a home.
How hard is this Real Estate Agent going to work for you when they know they’re working for a reduced pay. I learned at a very young age that you get what you pay for and the same holds true when you hire a Real Estate Agent on a budget. Don’t expect them to work their tail off for you. They will be pulling punches however for their recent customer, Enzo, who is paying a full commission. I imagine it might be a bit harder for you to get ahold of your Real Estate Agent too, as he/she is likely tied up with Enzo.
So if you don’t have your Real Estate Agent gung-ho about selling your home, do you really think they’re trying to get you top dollar? Makes sense, doesn’t it?
Another consideration is regarding other Real Estate Agents whom may be representing prospective Buyers when your own Real Estate Agent is not. For example, the Buyer’s Real Estate Agent finds 3 homes for the Buyer to see (3 the magical number it takes for Buyer’s to find and choose from, as home buying TV Shows swear by, right?! If only it were that easy.) If two of the homes are paying the typical full commission, and your home is nestled in amongst the others, yet your home has a glaring red sign that tells the Real Estate Agent that they’d make less money selling your home. Do they really want to show their Buyer your home? Oh but wait…that’s unethical you think for the Real Estate Agent to consider not showing the Buyer your home. Sure it is, but don’t think for a moment that this scenario doesn’t play out or what if the the Real Estate Agent is struggling financially and needs money desperately to care for their ill child? Desperation leads people to do desperate things. Would you really want to test this? We buy houses in Decatur Il.