This is the second of three posts I'm writing today inspired by Brian Larson http://activerain.com/blogsview/279189/The-Uninteresting-Tale-of
In his post Brian suggested that a buyer's agent brings three very valuable skills to a transaction, Location advice, negotiation advice and closing facilitation. In my most recent post I suggested that a listing agent offers marketing advice, negotiation advice and closing facilitation to sellers
My question is this: If a buyer or seller does not need everything that we offer than should we be willing to cut our commission to reflect that fact
For example, my buyer has identified the neighborhood he wants, and a list of three well priced homes to see, and he has a pre-approval from a local lender and a copy of his bank statement showing enough cash for the down payment and closing costs. He agrees to make a full price offer on one of them, if I pay half my commission toward his closing costs......Lets see....he doesn't need my location advice, or my negotiating skill, all he needs is access to the property and closing facilitation. Why not give him the rebate?
In my next post Im going to examine the risk vs reward ratio and why our fees seem so high to buyers and sellers and then suggest ways to limit one while increasing the other