In my personal experience, resale homeowners don’t make concessions, only builders do. When my offer came in 5% below listing price, my realtor did not suggest that we raise the price and offer a concession. The buyers wanted the lowest price. My realtor told me of 2 sales in Poway, one where they represented the seller, another where she represented a seller adjacent to the “low” sale, and both those sales came in much below list and were accepted as such. No concessions on those.
Also, realtors only earn about 1% – 2% of the 6% commission, so an extra $20K added to the sale price is only $200 – $400 more for the realtor- not a big deal. I don’t think the realtor cares for how MUCH the house sells, only that it sells and closes escrow.
I think buyers can’t qualify for the high loans anymore, and are looking for a good deal, so they make lower offers. I think only the builders are throwing in concessions.
