Can Agent/Broker force me into going lower than i want to.? Say lower than 100,000?? The price drops every 30 days by $5000.00. And Can I stop her?

Asked by Tasargent774, Athens, GA Sat Jun 25, 2011

What if it doesn't sell? How much commission would i have to pay? In the papers, her commission is 7%.

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6
Christopher…, Agent, Tarrytown, NY
Sat Jun 25, 2011
Hi, You control what happens with the price of your home. It sounds like your agent added a clause to the contract regarding lowering your price, this is mutually agreed upon at signing. You can cancel your agreement but should read it to ensure you won't be penalized.

Chris
Web Reference:  http://raveis.com/chrispagli
1 vote
Laura Feghali, Agent, Stamford, CT
Sat Jun 25, 2011
Hello Tasargent,
Reducing the price on your property is your decision; not your agent's! Your agent can make suggestions and show you comparable sales in the neighborhood to justify a reduction but she should not be taking reductions without your consent. Most Multiple Listing Services require a seller's signature authorizing reductions on their site.
I suggest that you have a discussion again with your agent regarding your price and if you are not satisfied then contact her Broker.
Good luck!

Laura Feghali
Prudential Connecticut Realty
1 vote
Maggie Quinn, , Jackson Township, NJ
Sat Jun 25, 2011
No agent can force you to do anything you don't want to do, that being said the only thing any agent can do if a seller is not willing to accept their professional advice is to end the listing contract allowing you to list with another company or sell on your own. If you are not satisfied with the relationship between you and the agent you can call the broker and request a release from your listing agreement.

Good Luck
Maggie Quinn
Crossroads Realty
Jackson/Millstone Office
Cell 732-299-1502
1 vote
Ron Rovtar, Agent, Boulder, CO
Tue Aug 5, 2014
Hi Tasargent774:

This question was asked back in June, so I am hoping you were abel to get everything worked out with your agent. It does look like you were pretty frustrated at that time since you asked four questions, all of which seem to imply that you did not understand what the agent was doing or why the agent was doing it. So, just for the sake of everyone who is following this question. When putting a house on the market, your real estate agent should make sure you fully understand all the important provisions in your listing agreement. You do not have to agree to any scheduled reductions, but you can if you like. If your agent wants to reduce the price of your home or wants to reduce it beyond a schedule contractual reduction, you may say "no." The main lesson here is that you should make sure you thoroughly understand the listing agreement. And, if you do not, you really should talk to an attorney who can explain it to you.

Best,
Ron
0 votes
Tracy Santro…, Agent, Cary, NC
Tue Aug 5, 2014
The agent must have a provision in writing that you agreed to lower your price. You also will be responsible for paying the 7% commission if that is what you agreed to do. If it doesn't sell you are not required to pay the agent.
0 votes
Shar T, Both Buyer And Seller, 07012
Mon Dec 12, 2011
You don't have to pay anything if the house doesn't sell! BTW, 7% commission sounds outrageous in this economy. (Even in NJ it's only 6% and NJ is ridiculous.)

And your agent certainly can't change the price without your permission, unless the provision is in your contract. Read your contract! If you don't understand it, hire someone who can explain it to you. You need to understand what you signed. Sounds like you might have signed something that's a bad deal for you.

Remember, YOU hired the agent, and you can fire them, according to the guidelines in your contract. We changed agents after the first 6 months, and we are glad we did. Don't hesitate to change agents when the contract expires if you are not satisfied.
0 votes
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