For full disclosure I used to be an agent, but focus on other things these days and only use my license for my own investments for the most part.
I think in your instance everything you did makes perfect sense and seems logical since you knew the seller. If someone comes across that scenario is makes perfect sense imo.
Personally, I just want value being brought to the table whenever someone is paid in any profession.
If I was working with a buyers agent I’d say I want them to find me a place for a little under market (say 10%) and if I find it myself then they will not be paid since I found it. Conversely, I’d say if I’m a seller I’d list 10% above what I’m looking to get and let them know there will be no price reductions. I’d establish a realistic time-frame to give them a shot and if they do not sell it within that timeframe I’ll be cancelling the listing. I might add an addendum that if someone that came through during the listing period buys after the listing period they must pay full list price in order for the agent to be paid.
The only reason I chime in here is that I think Realtors get a bad wrap a lot of the time. I think there are many good ones that deserve what they are paid, but there are others that do not. People tend to generalize on the value of the profession, but I do not believe everyone in any profession is equal. Some people just work harder and deserve to be paid and vice versa.
