The friendship....future business from my Buyers family and friends are more important to me than collecting $800.00 at closing from my buyers who more than likely need it more than I do.....
"The bar is there for a reason......now go......and rise above it".....Robert B. McArtor
However, I need the buyer to understand if they are tempted to purchase one of the many $30,000 condos in this area that a new set of requirements come into play. Splitting the commission on a $30,000 condo isn't very attractive! Also in this scenario the listing agent will defer as many expenses to me as possible disguised in our area as MLS fees which they want me to pay. This is solely revenue augmentation in disguise. The MLS fee can range from 0 to $500. There are no restrictions on the amount of this fee and it typically goes straight to the pocket of the listing agent.
It is important for the real estate professional to share with the buyer the complexities of today's environment and each listing may present a unique set of challenges. In our best efforts to find exceptional deals that meet the buyers needs, sometimes we need to go beyond the MLS. In providing such service, the buyer must be willing to respect such efforts for finding the property they want but would never have found without a committed real estate professional. That respect is demonstrated by assuring proper compensation.
It's a business, not a hobby!
TU for Phil.
I always accept the compensation provided in MLS - that is what is listed in our buyer agency agreement. Sometimes that is 3.5% sometimes 1.5% but either way our team has chosen never to make the buyer pay the difference. It was more of an ethical than a business decision for us.
I know this isn't for everyone but this is our practice.