We dropped our price. Now it's time for our agent to do her part and drop her fee.
The sellers featured on HGTV were in a tight spot. They just refinanced to overly upgrade a house in relation to its neighborhood and need to sell. The real estate agent has a frank talk about price. However sellers decide to price higher.
No offers follow. Frustrated sellers. Lack of home buyers. And then... The homeowners drop their price.
None of this story is unusual yet what follows catches my ear. The husband announces, "We dropped our price. Now it's time for our agent to do her part and drop her fee. "
Is it a given that an agent who never owned the house, had no say in its past refinancing, should automatically agree to less commission since the seller is running low on equity?
It's frustrating being a seller. Emotions fly higher than a kite. Spending 5 or 6% in equity to sell a house when the family home will barely break even to cover expenses is rough rough rough.
Today I see a dedicated group of Realtors taking care of homeowners in an economy rivaling the great depression. So all I could think to myself is, "If only you'd just asked nicely."
Now I am not debating whether real estate agents should or shouldn't lower commissions for distressed sellers. I am just observing that during times of stress, showing respect in our communication is just as important as in good times.
My heart goes out to sellers caught in a painful real estate market. I admire the sacrifice of real estate agents who continue nurturing home buyers and sellers. Super duper kudos to both sellers and real estate agents able to work within the present confines, showing mutual respect.
Your Friend, Kate Ford
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