It was approximately 3pm the day before the closing on a co-op we had listed and sold. The seller was being foreclosed by her hard money lender and her attorney called me with some bad news. After reviewing all the closing costs there was a cash shortfall of $1600.00. The seller had no ready cash to make up the deficit.
It was going to be necessary for all parties to sacrifice to get the deal completed. The attorney was going to waive some of his fees, the management company would forgive the seller's late charges, the hard money lender was willing to reduce penalties and now it was up to our brokerage to reduce our commission.
It took a quick phone call to our broker and we all agreed to forgo some of our commission. The closing went smoothly the next morning and all parties were happy with the outcome. Realtors will always be willing to sacrifice to get the deal done.
Keeping you posted,,,,
Bonnie Chernin & David Rogoff