The following is a true story and a testament to the Real Estate profession.
I was representing buyers in a recent transaction where the Seller's hadÂ one of those listing agreements whereÂ the broker only provided an MLS number. The SellersÂ were responsible forÂ the rest, including scheduling showings, signs and reviewing the CONTRACTS-surprisingly enough.Â Â
At least that's what I realized when the Seller'sÂ called expressing the fact they had just realizedÂ there were seller paid closing costs. When they accepted the offer they hadn't been advised of this term of theÂ contract~which can be found in the Financing Addendum.Â
As I told them, I was sorry for their misfortune butÂ that maybeÂ next time they should retain a FULL service agent-? They agreed thatÂ this aÂ very good example this is of "Why you need an Agent".Â
In the long run,Â they lost more money in the unrealized seller paid costs than if they'd paid the full 6%.
The deal went on to close successfully,Â with all parites on good terms~just with a couple of bruised egos. Fortunately,Â the sellers expressed to me their new found respect forÂ Realtors and their promise never to try this again:).
Good luck to allÂ ~ Stay Strong - Hang in there:)!