“ He had been willing to lower his asking price by $25,000, he said, but instead chose to pay out a higher commission ….
In the end, Caty netted about $14,500 less in the deal than he would have had he dropped the condo’s price $24,000 and sold it with a regular commission…..
Caty said the deal left him feeling uneasy “
We all agree that buyer is crazy for not being upset,. But at the end he find out “after the fact”
But the seller also paid 14K more, why would he do that? Would the condo not sold 617K? As I buyer I would feel more than uneasy. Why give 14K away?
I do not the details but $600K+ for a 1 bedroom!!!! Buyer is definitely in denial.
What I like about this site is that I always learn something. Some realtors give you 1% back, sometimes depending on the commission they may give you less. But today I learn the % could be higher (as it depends on the seller) so I will need to have a discussion with my agent in case I like (or he/she shows me ) a house with this special buyer’s agent’s offer.. Now I will not only negotiate a % of the commission but if the commission exceed the industry standard I want the price to be dropped by the excess commission, else I won’t buy the house. I am not sure if I will be able to know the commission but if the agent can/will want to cheat because if I find out I can take legal actions.
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