I have a whole different view now on the MLS...in fact I think it is safe to say that I have lost some faith in the MLS as I know it....it used to be that when someone (another agent) put a commission in the MLS that you were guaranteed to get what they put in there....That's the way it used to be.....
Now apparently you can put what ever you want in and not have to pay it....or at least that was my experience recently......You see I just sold a home that had a X% commission listed in the MLS....so like most people I think expected the full%.....but that didn't happen....what happened was that the agent countered the commission down to 1/2 the% that was posted in the MLS.....and changed it in the MLS computer AFTER the offer was given to him.....he freely admits this....I have no problem with a simple mistake of putting X% in instead of Y%....I think I have actually done that many years ago and caught it....
The problem I have is where in the "Private"Remarks it saying "YES YOU READ IT RIGHT...X% TO THE SELLING OFFICE!!" That was the full commission....the carrot if you will......What's your opinion on that? Bait and switch? or Simple mistake?
SO...my question is this....does it seem fair to be offered X% only to get 1/2 half that even though the MLS clearly states the X?.....His side said I agreed to the reduced amount%...I didn't...why would I agree to 1/2 when the full amount is what was "Promised" in the MLS....What good is an MLS if you can't count on the amount offered as being true?
Arbitration doesn't seem quite fair when the MLS comments and commission amount offered are not considered....what was considered was one story again another...and not the facts.....
What would you do if you were offered X and then the agent cut it in half when they Countered your client? Does that seem right to cut the commission on the contract between a buyer and seller? Shouldn't the commission be a separate issue?
Do you think it is wrong to change the commission offered and reduce it 50% AFTER you get an offer??? Or is that ok??
We closed on the home of course, as it was in our clients best interest...and the commission has nothing to do with them....It just seems that in life you have to trust SOME things...I thought I could with our MLS....I found out the hard way that it doesn't matter What is put in the MLS....
So what has this taught me? Well it taught me that at least here locally you can put in the MLS Anything you want....because no one will up hold it.....heck might as well put in 10 or 15% commissions....doesn't seem to matter here.And as long as no one is enforcing it...well I guess that is a lesson well learned next time I see something out of the ordinary.....
Regards
Richard Goates
I'd get what I can, sell the property, move on. The reduction to hold the sale together, close the gap is part of the real estate dog and pony. Selling price was ? Contract price was? What other link on the property to clear up and maybe caused no other money source but Joe Realtor's take. Make the sale.