Asking buyer's agent to cut commission

[Rosie Giacosa]

Hi,

Is it appropriate to ask a buyer's agent to cut his commission to 2% to close a deal if I am selling my property as owner/agent?

Thanks!

[Rich Spaulding]

The relationship between a buyer agent and their client is not really your business.  You can offer whatever you'd like to a buyer agent.  However, buyer agents expect (and deserve) 3% when working with buyers.  The duties of a buyer's agent is well beyond just locating the right property.  

I can see from your perspective (especially in a deal like the one you're describing) you may disagree and don't see how paying a buyer agent is worth it.  But they represent the buyer.  Just because you're offering commission, doesn't mean the buying agent cares about your interest.  A good buyers agent will solely concentrate on their client's best interest.  

In your example, you said the offer came in $25,000 less than asking.  It's probably because your property is overpriced.  A professional real estate agent will understand comps and make appropriate offers.  

I can tell you from experience, I've shown houses to my buyer, only to find out the listing agent or FSBO only pays 2% commission. When that happens, I inform my buyer they would be responsible to pay the extra 1%. Guess what happens? They don't want to pay and we find another house.

Congrats on the offer and I hope the deal works out for you!