Right now, I'm feeling a little ill. Why? Because I'm seeing things in the real estate world that I've never seen before. It's happened a LOT since I left my former brokerage and it's like blinders are off.
My team is dealing with an agent, well let's not say where this agent is from but suffice it to say that it is someone that many agents, including myself have looked up to in the past.
SO as we are negotiating out this deal, some things come up that might be sticking points (but should NEVER be a sticking point).
The main one has to do with co-broker commission. This property was taken with a 2.5% co-broke on it and it is listed in the MLS as such. Now personally, I have never let the co-broke offering influence if I show a property or not. It just isn't ethically allowed to happen, right?
So this agent submits an offer and asks for 3%. Nothing wrong with asking...he/she is told that the co-broke is 2.5% and that it is listed that way in the MLS.
This particular agent is known for consulting or teaching other agents that you NEVER discount your listing comission and that he has a standard comission that he charges. Remember, this is an agent that a lot of newer agents have been taught by and they look up to.
So the email comes in a little while ago that this agent understands the "lowered commission" and that he/she built his/her business on the 4% listing agreement, always offering at least 3% to the buyer's agent. That came as a bit of a shock to hear that admittal...but the rest of it just blew my doors off.
He/She goes on to say, "could we increase the counter offer by $450 and then have you offer a $450 bonus to me to make up for the loss of the extra 0.5%?"
Did that agent just really say to stick it to his buyers, not tell them, so that he/she could make more money on the deal?
Doesn't the Code Of Ethics govern this type of Behavior!??????!
C'mon folks...don't be THAT GUY/GIRL!
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