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Lexnupe, Other/Just Looking in

Are there ever instances when one should request a reduction in commission from their agent?

Asked by Lexnupe, Sun Dec 9, 2012

I have sold a home and bought one from the same agent, he has made a costly mistake or two to say the least. If I ask for a reduction how much should I ask for?

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If your agent made a mistake that resulted in a loss of money for you, that might be a case to expect your agent to share in that loss.

But as Tina pointed out... I'd have to know what the mistake was, and be assured that it was truly the agent's fault. My experience has shown that buyers and seller often blame the agent (we're the first line of attack), when in reality they had an unrealistic expectation of an agent's obligations and duties... and it's often a combination of misunderstanding and lack of communication.
1 vote Thank Flag Link Sun Dec 9, 2012
I sent you the details through a pm
Flag Sun Dec 9, 2012
Alan May, Real Estate Pro in 60201
MVP'08
Contact
Sorry ti know this, it is a costly lesson. Bring ALL your issues to your agent's Broker, He or She has the legal responsability to make sure you are treated with Honesty and that your interests are most protected. NExt time use a proven and experienced REALTOR.
Good Luck.
Sincerely,
Jose L. Novelo
0 votes Thank Flag Link Mon Dec 10, 2012
Ask him to cover the cost of the mistake. This would only be fair.

Josh Barnett, Realtor
Metro First Realty
Web Reference: http://www.SoldOKC.com
0 votes Thank Flag Link Sun Dec 9, 2012
Absolutely.... Realtor commissions are negotiable.....
If the realtor made COSTLY mistakes, go ahead and ask his/her BROKER(boss) to cover those COSTS.....

Don't let snooty people tell you any different!!
If the realtor makes mistakes or otherwise is not professional.... then why should you pay professional rates? You should pay 'Discount Realtor' rates.....



Tom Burris
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0 votes Thank Flag Link Sun Dec 9, 2012
Wow. Sounds like a bad situation. If the deals are closed there is probably nothing you can do short of never using that agent again. If the transaction is on going, I would start by letting them know whats wrong, how much it has cost you and what you want to remedy it. If that does'nt work call his broker.
0 votes Thank Flag Link Sun Dec 9, 2012
As an agent it certainly is my preference to be able to consider a decreased commission at the time of the offer to be able to make the deal work than to do so when listing the property. One would only hope that most sellers can understand this......

Bill
0 votes Thank Flag Link Sun Dec 9, 2012
It is not the norm to ask for a commission reduction but commissions are certainly negotionable beween the agent and his Client (you). I would discuss the entire situation with the agent involved along with the designated Broker or Manager for the agent.
0 votes Thank Flag Link Sun Dec 9, 2012
As a REALTOR®, I would like to say "no", but in reality, there may be a few instances when a reduction in commission is warranted. As the answers before mine, if a mistake by a REALTOR® resulted in a loss of money for you, then I would speak to him/her about at least splitting that loss 50%-50%. An attorney should only be used, in my opinion, after all other solutions have been tried. For example, speaking to your agent directly about "sharing the loss", speaking to their broker about recovering the loss, mediation, etc...

As for the amount of reduction, I would total the amount lost and then would take that percentage off of his/her commission. Please make sure that the mistake was indeed the agent's fault 100%, not a miscommunication or misinterpretation. None of us are perfect, but we can learn to be more diligent in our work, especially if it costs us part of our commission. This is how we make our living (obviously) and how we support our families, so I think we will learn fast. Hopefully, your agent can rectify his/her mistake before closing.

Thank you for your question,

Monica Barrientos-REALTOR®
210-379-5098
0 votes Thank Flag Link Sun Dec 9, 2012
Hi Lexnupe,

I agree with Alan May. I saw your post yesterday and agree that if you think your agent made a mistake that resulted in you losing money, you need to contact the Broker and possibly an attorney.

You are, I am sure, under contract with your agent (which actually means you are under a contract with the Broker) and the amount you will pay is in that contract, or should be, and are required to perform under that agreement. This is why you need to consult with the Broker or Attorney.

Often times there are misunderstandings on what an agent is obligated to do. It's best to clear up those misunderstandings as soon as possible so that you can be confident in the selling of your home and the purchase of another with this particular agent. Otherwise, there are usually procedures in place that protect you, the consumer.

Good Luck.
0 votes Thank Flag Link Sun Dec 9, 2012
Everything is negotiable, including commissions.
That said, agents often repeat aspects of the transaction several times only to see clients "learn" about costs and obligations at closing. People often hear what they want to hear, so having an agent who makes sure communication is the number one priority is key.
If I see a client hasn't grasped what I ahve said about closing costs or think they might not be paying attention, I repeat it several times and give them a followup e-mail. That way there are NO surprises.
0 votes Thank Flag Link Sun Dec 9, 2012
Since we don't know what the mistakes were, there's no way to say. In any case, unless your listing agreement explicitly specifies a clawback provision, your most likely resolution is to not use this agent again.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sun Dec 9, 2012
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