Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
3,364,961
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good to see you back, Praful.  Some people(including some agents) do not comprehend how the real estate business works.

Aug 21, 2019 06:33 PM
Rainmaker
2,801,126
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Hello Praful!

Welcome back to the Rain!!!

I have not had a co-broke ask but I have had several buyer agents ask me to reduce my compensation so that they could recover from their mistakes.  

I thanked them for the offer and opportunity and respectfully declined. 

Aug 21, 2019 06:10 PM
Rainmaker
3,137,612
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Yes, I have. And the answer was no. And I've never requested another agent to do that.

Aug 22, 2019 03:49 AM
Ambassador
3,358,913
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hey there, Praful! SOOOOO happy to see your smiling face back here! 

I have had that question asked - it's a quick, "No!" and the subject is changed! 

Aug 21, 2019 07:57 PM
Rainmaker
573,857
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

No never. And where have you been? I haven't seen on Q&A in a long time.

Aug 21, 2019 06:40 PM
Rainmaker
777,305
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Praful Thakkar!!!! WELCOME BACK!!! 

I've had agents ask me to adjust my compensation. The commission has been an agreed-upon condition  in the Listing Contract

Aug 22, 2019 07:17 AM
Rainmaker
1,623,644
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

GREAT to see you back Praful Thakkar ! Yes I've been asked and my answer depends on the circumstances and how (what tone) I'm asked. It's been yes and it's been no.

Aug 22, 2019 06:26 AM
Rainmaker
3,194,620
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

If we can't negotiate our own terms, how can we be the right Agents to negotiate the terms for our clients? A Big Fat NO!

Aug 22, 2019 03:01 AM
Rainmaker
1,496,212
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Yes, it happens often now-days with our astronomical housing prices: rebates, credits, splits, etc. . We have to negotiate, it is too simple to say Yes( and get losses) or No( and loose the deal). 

Aug 22, 2019 02:18 AM
Rainmaker
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Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

No, nobody asked me.

Aug 21, 2019 07:39 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Best to just say No to such foolishness.

Aug 21, 2019 06:57 PM
Rainmaker
418,548
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

If you don't know "why" they are asking simply ask the agent what's up.

Then based on the answer and the overall scene, I'd do what seemed like the smartest business decision at the time - both short and long term thinking required.

Aug 22, 2019 06:58 AM
Rainmaker
632,183
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Hello Praful!!  We've missed you! Glad you are back!

Sometimes you gotta give a little to get a little.. it happens.. I keep an open mind about it

I'm glad to see you back!

Aug 21, 2019 09:22 PM
Rainmaker
4,495,100
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

Welcome back.

I am in agreement with Michael Jacobs 

Aug 22, 2019 06:06 AM
Rainmaker
1,314,048
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

A few times. At first, we'd agree, but less now that we're more experienced.

Aug 22, 2019 05:30 AM
Rainmaker
768,748
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Welcome back.

Consumers have more information and data to consume.

They know if they leave a gap of a few thousand dollars, two agents will need to decide if they want to scuttle the deal because they didn't want to kick in $1,000 bucks. Those same agents will pay a referral fee of  multiple thousands of bucks to a remote agent or organization who brings no value to the transaction.

As we love to say, "All things in real estate professional fees are NEGOTIABLE."

Precedence is clearly established by the REBATERS who make it clear agents have a lot of surplus that should be tossed into the pot.

Will an agent let a deal crash because they feel they need the whole $9,000 or should they kick in $1,000 to make it work? There are many ways to adjust compensation, this is just one of them. Bloated compesation is seen by many agents as their entitlement, not as a tool from which solutions can be offered.

Those who say 'No way, No day,' may not have their clients best interests at heart. Now cut to the chorus.....

Aug 22, 2019 05:02 AM
Rainmaker
1,010,596
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Situations have occurred where I have asked and also been asked. Circumstances vary whether I will capitulate or not.

Aug 21, 2019 11:44 PM
Rainmaker
2,808,773
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Praful Thakkar  welcome back, haven't seen your posts for a while. 

Aug 21, 2019 08:33 PM
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Nope, hasn't happened and my answer would be, thank for asking but no.

So glad to see you back - hope all is well, Praful!!

Aug 21, 2019 08:13 PM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Yes, I have been asked and have asked. Sometimes giving a little means a lot and future business.

Aug 22, 2019 02:14 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

no

Aug 22, 2019 06:57 AM
Rainmaker
86,472
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans Jumbo/Conventional/FHA/VA

In Michigan these are 2 separate issues. You can't make an offer that is contingent on cutting a buyer's agent's commission. 

Aug 22, 2019 06:10 AM
Rainmaker
638,502
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Yes...  Rarely but yes & depending upon the situation & specifics, I'll at least listen and consider. 

Nice to see you back. 

Aug 22, 2019 05:23 AM
Rainmaker
3,307,039
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Many times. Few times with logical merit. 

Aug 22, 2019 05:14 AM
Rainmaker
3,058,635
Richard Weeks
Dallas, TX
REALTOR®, Broker

Yes I have.  It took only $500 from both agents, the seller, and the buyer to make the deal work.

Aug 22, 2019 04:36 AM
Rainmaker
377,460
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

Yes, it happens.  It depends on the reason for the adjustment, the amount, and how difficult your client is.  

Aug 22, 2019 05:23 PM
Rainmaker
538,959
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Some of the comments frost me...

1.  My fiduciary to the buyer does NOT include paying them any $ shortage...and yes, I still represent 100% of their best interest...always.

2.  My clients don't ask me for part of my paycheck...however listing agents occasionally do ask.

My answer has been the same for almost 30 years..."NO".  I however do not care if the listing agent wants to give up ALL of their commission...be my guest.

SHOCKER:  I have never lost a single deal over not taking a haircut...none. zip, zero, zilch.  The buyer and seller will ALWAYS work it out without my money.  Anyone who believes otherwise needs to try it...

Eve

Aug 22, 2019 11:43 AM
Rainmaker
750,320
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No. That scenario should never come up.

Aug 22, 2019 04:13 AM
Rainer
237,262
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Praful Thakkar  happy to see you - My answer would be, "I'm not Ross Dress For Less." then big smile say nothing

Aug 22, 2019 11:05 AM
Rainmaker
559,169
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Just 10 minutes ago I got a call from one of my recruits in training saying she was asked to adjust her commission on a purchase she is making for herself. I told her (1) tell them you can not, you've allready factored that into the purchase price & (2) it's promised on MLS so any other agent who made an offer would be paid, in the event I didn't purchase it & (3) so we have everything else worked out, let's wrap this deal up. 

Aug 22, 2019 09:09 AM
Rainmaker
1,839,145
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Yes . There are times where neither consumer has anymore money to toss in . It becomes a business decision as to whether or not to let the deal blow up and then March all the way back to START ???

Aug 22, 2019 12:19 PM
Ambassador
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Anna Banana Kruchten - Phoenix Homes Sales
Phoenix Property Shoppe - Phoenix, AZ
603-380-4886

Yup sure have Praful! Mostly in the down market with short sales etc.  Why they didn't figure this out ahead of posting on MLS, who knows!

Aug 22, 2019 11:05 AM
Rainmaker
1,248,247
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

WELCOME BACK!

 

Yes, this has happened on more than one occassion.  I take the approach of "No.  My brokerage does not allow it's employees to do that."

Aug 22, 2019 09:52 AM
Rainmaker
5,042,801
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

that's a common question asked in my area.... we answer with a "no"....it the buyer agent's buyer.... the buyer can pay that agent.... and it's also not an acceptable request for any agent in MLS to make....report that to the board.... it's unethical....their compensation is stated in mls....

Aug 22, 2019 09:17 AM
Rainmaker
2,465,099
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have been asked and I have also asked...Real Estate is all negotiations

Aug 22, 2019 09:16 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Welcome back and yes it has been asked of me.

Aug 22, 2019 07:40 AM
Rainmaker
424,258
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Totally agree with Nina Hollander 

Aug 25, 2019 01:28 PM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have negioated my commission to resolve a situation and on short sales many times.  I don't tend to do it for a traditional sale with no unlying cause. The last time I did it was a seller with a sick child and they were selling to pay for treatment for their child and hadn't owned the house very long.  I felt really good about my decision.

Aug 24, 2019 12:59 PM
Rainmaker
3,205,956
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I think we all had that happen.  Never know why this should come up.  

Aug 24, 2019 09:00 AM
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Yes, I particularly remember one where the reason for the request was that the seller wanted to make more money. 

Aug 23, 2019 02:25 PM
Rainmaker
691,306
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I have not run into that problem. My first impulse is to say "no". If the situation presented itself, I would take the request under advisement but suspect that the answer is still "no".

Aug 23, 2019 07:14 AM
Rainmaker
1,549,930
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We have and did not comply. I am glad to see you escaped Mordor!

Aug 23, 2019 06:39 AM
Rainmaker
3,022,152
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

FIrst welcome back, second YES, seemingly all the time. Each is a case by case situation, i never just say no , but most of th etime learn they want me to pay while no one else shares in the cutting

Aug 23, 2019 05:19 AM
Rainmaker
933,521
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Welcome back Praful Thakkar 

No, but it depends on the circumstances. I've only co-brokered twice in 20 years and who my co-agent is...I only do that with friends and it serves a purpose.

Aug 22, 2019 06:40 PM
Rainmaker
4,109,745
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not.

Sep 13, 2019 04:39 AM
Rainer
432,332
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Glad to see you are back.   

Deals fall thru sometimes if we are not willing to help when we can.  If absolutely necessary to save a deal only.

Aug 22, 2019 07:16 PM