A Seller hires/signs a listing agreement with a Realtor for the sale of their home.  At the time of signing, all terms and conditions of the listing agreement were agreed to by both the Seller and the listing agent. (Commission and price included)

Three (3) days after going to market, the listing agent successfully brings the seller 100% of asking price and a firm deal as well (no conditions).  In other words, the agent did exactly what the sellers asked of him and agreed upon.  While the sellers seemed happy, something didn’t sit right with them.  They went on to ask the Realtor the following;

Seller: “Because you sold the house so quickly, and you didn’t even need to work that long, would it be possible for you to give us back some of your commission.  This is a lot of money for 3 days of work.”

Things to think about;

SELLERS

  • Asking for part of someone’s paycheque is always a sensitive issue.

  • When you signed a listing agreement with your Realtor, nowhere in the agreement does it say, If the agent does EXACTLY what you want him to do in a short period of time you are going to PENALIZE them.

  • If the property takes a long time to sell, is the agent allowed to ask you for more commission?

  • You DO NOT need to accept the offer.  If you feel better making your agent work longer and harder thats is the agents job to do.  Keep in mind though your first offer may be your best offer!

  • The transaction is not complete.  You are still going to be needing services from your Realtor until the property closes.  The job is far from over.  

  • Try and understand how you would feel if the agent asked you for part of your paycheque from your job.  

  • Take the terms and conditions of the offer seriously before focusing on what your agent is making.  Never let commission affect the terms of the Agreement of Purchase and Sale!

AGENTS:

  • Do Not take this personal.  It is OK for sellers to try and haggle your commission. You would most likely do the same.  Justify value!

Random thoughts by Adam Stern