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Started By
Message
1
Posted on 4/25/20 at 9:30 am to Golfer
quote:
I listed a 2nd home for sale last year. The realtor I chose, drew up our contract and he pointed out that if he sold it, the commission would only be 3%. He is the owner of the realty firm. Weeks later, he contacts me and says one of HIS agents is showing the property. The people like it, and want to buy it. I get purchase contract and the commission is 6%. When I questioned him, he said the 3% stipulation was only if HE sells it personally. So, he ends up with 3% for being the listing agent, 1.5% for owning the firm, and his agent gets 1.5%. May be legal, but that is shady as shite!
quote:
That’s your fault for not negotiating properly and/or reading your listing contract thoroughly, IMO.
Lol. Not everyone buys and sells homes for a living. It would be nice if people were just straightforward and not out to frick you all the time.
Posted on 4/25/20 at 9:31 am to PhiTiger1764
Or maybe try not being a cheap frick and use a Realtor
Posted on 4/25/20 at 9:34 am to SDVTiger
Read better.
Posted on 4/25/20 at 9:35 am to PhiTiger1764
I'm reading it just fine
Posted on 4/25/20 at 9:38 am to SDVTiger
quote:
I'm reading it just fine
Clearly, you are not.
Posted on 4/25/20 at 9:39 am to greygoose
quote:
When I questioned him, he said the 3% stipulation was only if HE sells it personally. So, he ends up with 3% for being the listing agent, 1.5% for owning the firm, and his agent gets 1.5%. May be legal, but that is shady as shite!
You know that you don't have to sell your house, right?
Once you have a deal in place negotiate down your realtors percentage a couple points if you aren't happy.
Posted on 4/25/20 at 9:43 am to greygoose
quote:
So, he ends up with 3% for being the listing agent, 1.5% for owning the firm, and his agent gets 1.5%. May be legal, but that is shady as shite!
Just tell him no? You are the decision maker
Posted on 4/25/20 at 9:45 am to Strannix
Clearly that kid is banging your wife and didn’t expect you to be there with her
Had to improvise fast
Had to improvise fast
Posted on 4/25/20 at 9:46 am to PhiTiger1764
quote:
Clearly, you are not.
The OP is not doing FSBO now?
Posted on 4/25/20 at 9:46 am to Roll Tide Ravens
quote:
tell you what's sad:
quote:
thirstyest
One can only hope it isn't his 'go to'
This post was edited on 4/25/20 at 9:47 am
Posted on 4/25/20 at 9:47 am to dsides
quote:
Just tell him no? You are the decision maker
If it were me, not only would I tell him no, he would be fired for being shady.
What do you think 90% of people do though? Accept it. That's why it is done in the first place.
Posted on 4/25/20 at 9:47 am to SDVTiger
quote:
The OP is not doing FSBO now?
I am not talking about OP. Everything I am posting about is quoted.
Posted on 4/25/20 at 9:53 am to Strannix
I hope he also stole some of your wife’s panties
Posted on 4/25/20 at 9:58 am to greygoose
quote:
Weeks later, he contacts me and says one of HIS agents is showing the property. The people like it, and want to buy it. I get purchase contract and the commission is 6%. When I questioned him, he said the 3% stipulation was only if HE sells it personally. So, he ends up with 3% for being the listing agent, 1.5% for owning the firm, and his agent gets 1.5%. May be legal, but that is shady as shite!
Sucks for sure. Especially since it was too late to do anything about it at that point.
I've bought/sold several homes now. I've done it just about every way possible. No realtors at all, one realtor on the buyers side, two realtors, etc.
When selling, I've learned the best way to communicate is bottom line money in your pocket when it's all said and done. And yes, it is possible to get the offer written in that type of language.
Posted on 4/25/20 at 10:01 am to CFDoc
quote:
bottom line money in your pocket when it's all said and done
That's the only way to do it.
If you have a realtor involved then that is their job to work those numbers. Make the other parties give.
Posted on 4/25/20 at 10:05 am to PhiTiger1764
quote:
If it were me, not only would I tell him no, he would be fired for being shady.
What do you think 90% of people do though? Accept it. That's why it is done in the first place.
The only thing he has to accept are the terms of the contract he signed with said realtor. If those stipulations weren't signed in the contract- they have no bearing. This thread is full of people who know nothing about real estate except how to bitch about being taken advantage of because they know nothing about real estate. FSBO for the win!
Posted on 4/25/20 at 10:08 am to Strannix
Was this Prince Akamura Realty?
Posted on 4/25/20 at 10:09 am to CFDoc
quote:
Sucks for sure. Especially since it was too late to do anything about it at that point.
It wasn't too late to do anything about it. It was too late to do anything about it once he signed the contract with those stipulations. You can't just invent terms of commission or pull them out of your arse.
Posted on 4/25/20 at 10:32 am to greygoose
quote:
Weeks later, he contacts me and says one of HIS agents is showing the property. The people like it, and want to buy it. I get purchase contract and the commission is 6%. When I questioned him, he said the 3% stipulation was only if HE sells it personally. So, he ends up with 3% for being the listing agent, 1.5% for owning the firm, and his agent gets 1.5%. May be legal, but that is shady as shite!
Who was this agent? Put them on blast here so we know how to avoid them.
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