Amy Wengerd

The seller always pays the commission. Whatever rate the seller negotiates between the listing agent is taken out of the sellers proceeds at closing. The only fee a buyer has from their agent are any in house transaction fees plus regular closing costs. Again, all fees on both sides are paid at closing. - Sun Sep 2 2007, 07:05

Diane-I completely agree with you and feel your frustration. There is nothing worse then to get to the closing table and realize the other agent is keeping a higher split. The worst part of this is usually the agents that do this aren't the greatest ones to work with anyway. So, after a grueling transaction and feeling like you've done the work of both agents, then you find out they actually made more money. ARRGH!
After this happened, I entertained the thought of doing this on my next listing but I just couldn't. I realized I did not want that agent having the same feelings that I had. These are people that I have to work with on a daily basis and have good relationship with. I refuse to burn bridges over 1%. I guess if you are going to practice this way you better have a crazy good marketing plan and be on your best game to justify it.
Regardless, I will still continue to split 50/50 or more to the buyers rep. Keep in mind, you want agents to show your home and work with you. Creating a bad repuation in your market will do more harm than good. - Wed Aug 29 2007, 10:49

As agents we are, in my opinion, very blessed to have this job. I think the perks definitely outweigh the negatives. Of course, I don't live in "la-la land" and to have rewards there will also be challenges.

Positives:
1. Flexibility-I am the manager of my time. If I choose to buckle down for a season and take it easy the next I can do that.
2. No 2 days alike-New clients, situations, houses, markets, trends, laws, regulations (Oh, I better stop-I may be getting into a negative)
3. Fulfillment-The realization you are helping people with most likely the largest investment of their lives.
4. Being a "go to" person. Everyone likes to talk real estate (Trulia is the perfect example). Having the knowledge and expertise to educate and guide people in their best interest.
5. Who would I be kidding if I didn't mention the PAYCHECKS! Hmmm...would it still be as rewarding and fulfilling if the pay was bad???

Negative
1. The flip side of no 2 days alike is not having a set schedule. You may think you are done working for the night and 1 phone call can change everything.
2. Client Unloyalty-thankfully, this does not happen often but it sure stings when a client you have invested time and energy with buys something without your involvement.
3. Ever changing industry and market-keeping your competitive edge is a full time job in itself.
4. Agents who don't respect the industry. You know, I should've put this as number 1. Agents that slash commissions, act dishonestly, unethically, and will do anything to get the deal are doing all of us a disservice. We need to hold ourselves to a much higher level. Value your job, education, experience, and commitment. Stop selling yourself, other agents, and this profession short.
5. Ups and Downs--This just takes time to adjust. One month 10 closings, the next 1. You have to learn to hit while it's hot and appreciate the slower time to either spend with family, tackle a few items on the to do list, or strategize your marketing plan.

REAL ESTATE--It may be crazy but what would we do without it??!! - Wed Aug 29 2007, 10:42

Hi Matt,
Your attorney can renogiate for you if you wish. With it only being 1 point over the cutoff the seller may or may not come down on the price. Your position will depend on the price you are paying for the home. If you have gotten the sellers to come down substantially on their price they may not budge on the radon. If you have paid close to list price then you may want to stand firm on having the sellers remedy the situation. Usually, I suggest both parties get their own estimate and split it down the middle when it's this close. Also, I have had buyers take the home as is and not worry about the radon being slightly elevated but you have to be comfortable with that. Most sellers will pay for the treatment if you insist due to the fact they will have to now disclose the radon level to the next buyers. Best of Luck. - Tue Aug 28 2007, 17:35

Hi Greg,

What a great way to pick the brains of other agents-Great Question! Along with all of the information on the house I am having open, I like to bring a list of comparable homes in the surrounding areas. I print off everything currently for sale within the same price range. I then put these into packet form with a cover letter explaining exclusive buyers agency and how I can help them find their next home. As much as I would like to sell my listing at open house, in my market, those odds are quite slim so I try to take advantage of the ready buyers coming through the doors. Almost all buyers love the packets and it's a great conversation starter as you can talk about the other homes on the market. The other mentioned ideas are great too. Lots of lights on, SOFT classical music, and of course to know everything you possibly can about the home you are having open. Best of Luck. - Mon Aug 27 2007, 19:25