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Listing Expired |
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Friends of ours looked at a house and made a bid on it the day it was going off the market and were unable to negotiate a price with the seller through their agent.
Since then, the seller called them and said now that it is off the market, they wanted to call and see if they were still interested, but if they take the last offer our friends made, they do not want to pay the commission on it- they need to net a certain amount.
So, I was wondering what you thought our friends should do. I know there is a one to six month period after the end of the contract that protects the agent under these circumstances (I'm not sure about their specific contract); and they can not afford several thousands to pay the commission themselves. Are commissions negotiable and can they offer them a 2 percent commission, reasonably, because of the financial market?
They are afraid they could lose the house over this.
Help! |
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Yes, commission are negotiable. Whether the agent would be agreeable after having invested time and advertising money is something we can't predict, but there's no harm in trying. By the way, the length of time the agent is protected after the listing expires would be stated in the original listing commission. Let me know what happens; I'm interested. |
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Edith
Originally published on August 29, 2007 |
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