Sounds like they want it. Good Luck!

Gayle

Hope it sells for you.
Leslie

What was the asking price?

The relentless bad news regarding the housing market has given people the impression that many homes on the market are distress sales.

I hope you can hang tough and get a fair price. Good luck. Fingers are crossed for good news.

Kim

Lindsey
Our original price was $174,000. We then lowered it to $169,900. We are now firm on $167,000.

So far we haven't heard back from our agent. That is the frustrating part...not knowing. Even though the buyer offered $165,000 he is also an agent so he would get half the commission. DH and I feel that he and our agent could take $1000 each off their commission to make up the other $2000...that is...if he wants to buy it bad enough and if she wants to sell it bad enough.

Samkaren
your resident DJ

I'd hold out Sam. If the buyer is an agent also, he can afford to give up more of his commission. He can make it up when he sells it.
Leslie

Thanks for the additional details. Yes, it's much easier to agree that the original offer was ridiculous when I know what the asking price was. :-)

"...he is also an agent so he would get half the commission."

The typical commission is 6% of the sales price. One-half of that (3%) goes to the listing office, and the other half (3%) goes to the selling office.

The Broker whose license is what keeps the Office operating gets one-half of that office's share of the commission, so the Broker from the listing office will get 1.5% and the Broker from the selling office gets 1.5%. The listing agent gets 1.5%, and the selling agent gets 1.5%.

So... if the buyer is representing himself as the buying agent, he will get 1.5% of the total commission. If the sales price is $167,000, his commission will be $2,505. If the buyer is also the Broker for his office, his total commission will be $5,010 --- which is 3% of the sales price.

Yeah, your listing agent could give up nearly half of her commission to assure the sale, but why should she? The buyer should totally give up his commission. After all, it's a piece of cake to represent himself on a purchase; and if he does turn around and sell it, he'll earn commission there.

At any rate, I'm certainly keeping my fingers crossed for you!