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. "

Really?

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

Get Your Best Mortgage Rate

 

 

 
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38 Comments on If Only You'd Ask Nicely - The Award Goes To Mutual Respect

20 Most Recent Comments Displayed Show All

SEP
13
2010
452,806 Points 81 Featured Posts Called Shot Master

Kate - Being nice is always the best approach, regardless of the circumstances.  What the homeowner failed to understand in the HGTV segment is that the agent had already dropped their price by putting in effort and marketing towards a home priced too high to sell.  What that did to the agent was lower their effective income when compared to the time dedicated to the transaction. 

Difficult times require extra effort, and sometimes fees are negotiated, but when homeowners begin with the wrong approach and make invalid assumptions, they only lessen their chances for success. Great discussion--but I would expect no less from Super Kate!
1:55pm • #19
188,196 Points 5 Featured Posts

Hi John!  Wouldn't it be great for HGTV viewers if we could add a comment or commentary at the end of HGTV segments?
2:03pm • #20
452,806 Points 81 Featured Posts Called Shot Master

Kate - I like that idea.  Perhaps our remote could have a few extra buttons such as: Idiot - Shut up - Yeah, right - Did you get paid for this?  I'm sure there are lots more, and we already have interactive TV; let's make it more fun.
3:37pm • #21
188,196 Points 5 Featured Posts

John, Let's release remotes with obnoxious smilies for Holiday 2011. I'm also thinking they should hire you and me for short guest commentaries to wrap up each segment.
4:23pm • #22
571,900 Points 141 Featured Posts Outside Blog Called Shot Master

This is a great topic and I can empathize with both the sellers and the real estate agent. I think John has made a hood point about the extra effort it takes to sell a home priced too high. I personally know many hard working agents who do not always get fairly compensated for all their efforts. I would NEVER want to sell real estate, but I do love my job.
5:39pm • #23
188,196 Points 5 Featured Posts

James, There is room for lots of empathy. I also know you love your job. I can tell!
6:39pm • #24
307,600 Points 9 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Now it might be time for the agent to drop that client!
9:00pm • #25
188,196 Points 5 Featured Posts

Damon, as the saga ended, the house was no longer listed and converted to a rental.
9:40pm • #26
1,151,953 Points 53 Featured Posts Outside Blog

Supper Kate,

Is this your way of saying you want to make nice with me and that you will mutually respect me and Wheat?

Nutsy
11:41pm • #27
SEP
14
2010
188,196 Points 5 Featured Posts

Nutsy and Germ, no.
12:14am • #28
1,151,953 Points 53 Featured Posts Outside Blog

Mrs Kate,

To achieve my forgiveness, please write on a chalk board 1500 times this phrase: "Nutsy is brilliant and I respect him so."

Get back to me when that is complete. Thank ya maam

Nutsy

 
6:57pm • #29
188,196 Points 5 Featured Posts

"An ignorant squirrel is but to be ignored" -- Benjamin Franklin 1736
7:20pm • #30
SEP
16
2010
1,151,953 Points 53 Featured Posts Outside Blog

Mrs Kate,

I do not believe that quote was made by that man.

Nutsy
6:02pm • #31
188,196 Points 5 Featured Posts

Nuts, It's a direct quote from Poor Richard's Almanac. EVERYONE knows that! Not that I'd expect you to know. You ARE looking pretty fuzzy.

Ben also said, "Fish and visitors smell in three day." That's why James never invites you to his house.
6:48pm • #32
SEP
17
2010
1,151,953 Points 53 Featured Posts Outside Blog

Mrs Kate,

Nutsy is not looking fuzzy. Take it backs.

Wheat
11:07am • #33
188,196 Points 5 Featured Posts

Germ, those in close proximity are last to see.
11:59am • #34
SEP
18
2010
996,840 Points 362 Featured Posts Attended Rain Camp Called Shot Master

Since I had nothing to do with this transaction, I think the agent should give ME part of the fee.

Oh, and I am entitled to her blog points.

And yours...
11:11am • #35
188,196 Points 5 Featured Posts

Jay, are you suffering from entitlement mentality today?
1:07pm • #36
996,840 Points 362 Featured Posts Attended Rain Camp Called Shot Master

Don't you remember my post?

http://activerain.com/blogsview/1663459/i-am-entitled-to-your-blog-points
1:48pm • #37
188,196 Points 5 Featured Posts

Jayonomics, I knew that was what you meant but I'd missed your hilarious post.  Thanks! Katonomics/Nananomics
1:55pm • #38

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