Can a Realtor Lower Commission to Close a Deal?

Can a realtor lower their commission to close a deal?

2 Answers

A real estate agent can offer their commission as a concession to either the buyer or seller, although you should make sure this is acceptable to the lender.

This is probably the best way to reduce a commission without affecting the overall transaction.

Most agents however are reluctant to surrender any part of their commission until they realize that part is a whole lot better than nothing. With that said, removing yourself from a purchase contract can be difficult. You need a legitimate reason to walk away not just a change of heart; that is unless of course you have a "change of heart contingency" written into the contract... point I'm making here is look at the contingencies you have in place. These afford you the option of backing out of contract without recourse. If you're looking for leverage against an agent this is a good place to start.

If you are an agent just trying to do the right thing... I applaud you and suggest offering a concession against your commission.

Yes, without a doubt this is done ALL the time to close deals. The agent will do all they can to avoid this but they will do this prior to losing a sale, which means losing ALL the commission not just part.

The Realtor will need to get this approved by his or her broker, however this is a flexible amount unlike taxes.

If the agent has not already offered, then you should contact him or her about this and let them know what you are thinking and WHY you think that them shaving a few dollars off their commission will make the difference in closing the deal.

If what you are telling them is true then they should see your point and go with it unless there is something more then you are aware of, but the only way to know is to ask.

Good luck!