Reduced Fee for direct sale....

Stribling has gone to 5% in this situation.

You should negotiate this in the initial contract, which is always an option (not everyone will accept). I would think it represents an upside to the listing agent rather than 3% or less on a co-broke. However you should be careful as hunting for 1 or 2% to make the deal might blow the sale and in this market that could cost you more at the end of the deal.

It's real estate, everything is negotiable - just be upfront with your facts, don't try to do it after the fact - most brokers just don't want to have to take it to their direct report, if that person manages revenue there's a good chance they may accept your proposal. I can imagine C's "official" position is non-negotiable however their unofficial position may be to close the deal.

Of course it's negotiable. If they tell you differently, then they are lying.

this is their win -- if they bring you both a buyer and rep you -- they get the % negotiated upfront. You do not get to change direction mid path. If another buyer comes in nondirect -- and offers you more -- you can selct the new buyer and they get a reduced % but a higher selling price.

When you signed on with Corcoran to list the property, did you not already agree to a stated commission?

It sounds like all parties are close to a deal; I would try to go up the managerial chain for approval.

ali r.
DG Neary Realty

Yeah - I negotiated 5% up front (reduced from 6%. At a 4% fee, I hit my minimum net proceeds I was willing to take. As an added wrinkle, I just got a direct offer from someone I know for the same price as the current offer, not through the broker at all. I dont have my agreement in front of me, but in the standard agreement does the agent still have the right to the full commission in this situation?

We bought from a Cororan broker and were stunned at closing when the commission was obviously not 6%. We mentioned it. The broker admitted that he'd agreed to a smaller amount to get the listing but was obviously uncomfortable that we'd noticed and commented as Cororan always claims not to negotiate. That said, of course it is easier to negotiate upfront than once an offer is on the table.

You did agree to their terms and it is a bit crap to try and reneg on that now. However, I get it as it is a win:win ... if your next buyer has a buyers broker, your listing agent will only make 3% anyway. Ditto, or more likely, if the place doesn't sell within whatever time frame you signed a contract for, you are absolutely going to yank the listing and this listing broker will get zero.

Hello everyone,

I have made my entire living on doing exactly what you are all discussing. My name is Arbi Asadourian, owner/broker of RB Homes Realty. I have always offered discounted fees on direct sales as well as non-direct sales. It's hard for the giant companies to reduce their fees since they have so much overhead (dozens of offices and maintaing thousands of agents with their phones, computers supplies etc).

It is far more important to make the sale that will garnish me the most referrals and not necessarily the most money because in reality a good relationship is worth so much more. Just as many people have one doctor, one attorney, one caddy or one barber/stylist... I am their real estate broker.

If you are looking for an honest and hardworking broker (not agent..big difference) please look me up on either streeteasy or at www.rbhomesrealty.com -

Arbi Asadourian

Arbi, just a little technicality--

You are an agent. What you are not is a Licensed Real Estate Salesperson. You are a Licensed Real Estate Broker.

A agent in general is someone who acts on behalf of someone else. So, you can have a literary agent or a talent agent.

New York State law requires that you disclose your agency. That word, agency, means who you represent in the transaction.

Makes sense - I wanted to illustrate that though many licensed RE salespersons falsely refer to themselves as "brokers" i in fact am a broker....a broker that is active in the field representing either the seller or buyer in a transaction as their agent.
Thanks for the concise explanation.

I think Bellmarc and Elliman negotiate down. That being said we bought through a Corcoran broker direct and she didn't budge one cent even though the sellers had 2 or 3 board turn downs before us and were desperate by then.

That is why a commission rebate is the progressive model for a a buyer. Representation along with a guaranteed monetary advantage.Its what we used to call in the old days "A locked gift". (:

Keith(Broker)
http://theburkhardtgroup.com/services-and-fees-c14358.html

seller
about 3 weeks ago
ignore this person
report abuse Yeah - I negotiated 5% up front (reduced from 6%. At a 4% fee, I hit my minimum net proceeds I was willing to take. As an added wrinkle, I just got a direct offer from someone I know for the same price as the current offer, not through the broker at all. I dont have my agreement in front of me, but in the standard agreement does the agent still have the right to the full commission in this situation?

If you are listed with Corocoran, and your aparment sells within the time frame of that exclusive (also I believe if it sells to anyone whom the broker brought to you during the period of the exclusive for an addditional 6 months after) then you will owe them commission.