Over on the Redfin Forum there is an ongoing discussion called "Rebate MESS!" that has become a huge frustration to the homebuyer. It has become increasingly "the norm" for All Commissions to be Negotiable between a Real Estate Agent and their client. Still...many agents seem to believe that only applies when "the Client" is a seller of a home and not when "the Client" is a buyer of a home.
To me, that suggests that the agents involved do not consider the Buyer and Seller as equal, and with equal rights to negotiate their commission with their agent.
I don't really care about the money of it. In fact, "negotiation" does not mean that the agent gets more or less money. It means that there is a meaningful and BINDING discussion between a Principal and their Client. Of course it is the Agent for the Buyer's job to know that they can perform as to the agreement they have with their Buyer Client, and there are limitations that will impact their ability to deliver what was promised. Consequently the old "don't OVER-Promise" applies and agents have to become more familiar with the laws and rules that govern their abiltiy to deliver what they have promised...before they promise it.
I am writing this post to urge agents to keep an open mind with regard to facilitating, within legal limits, the agreements between a buyer and his/her agent. In the linked case, the Agent for the Seller (and seller) are apparently refusing to reduce the price to allow for the credit, even though the net return to the Seller would not be impacted.
Being stubborn based on the principle? I don't know. But I do know this:
It's almost 2012.
If you ave been one of those agents who thinks that the buyer of a home has NO SAY in what their agent is paid.
If you are one of those agents who thinks the services a buyer receives from THEIR agent is "FREE".
I urge you to reconsider your stance...because...it's 2012 (almost) for Pete's Sake!
Start with YES...and only move to no if there is no possible way to facilitate that yes. But...know in advance...that there is a way.
Maybe it's time for NAR to add the HOW of that to the "Accredited Buyer Representative" Designation Course? I think so!
If you truly believe that the Buyer is your CLIENT...then you need to learn HOW to negotiate and enact commission charges with YOUR client.
It's as simple as that. Let it be so.
Comments(2)