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azsailor

Increasing RE Commission (Long)

azsailor
15 years ago

My house has been on the market for 2 months. A fair number of lookers but no offers. I listed at 495,000 and just recently reduced the price to 489,500. The customery commission in my area is 6%. I then got an idea. I asked my Realtor what would happen if the commission to the selling Realtor was listed on the MLS as 2% instead of 3%. She said that Realtors wouldn't show it, which is what I knew she would say. I then said that instead of me reducing my selling price further why don't we offer a 4% commission to the selling Realtor. All other things being equal, or close to equal, on what the Realtor's buyer was looking to buy, why wouldn't the prospect of a 4% commission induce more agents to show my house over those offering 3%. My Realtor would not even consider it and could not really give me a good reason on why it was not a good idea. What is wrong with my reasoning and has anyone ever considered doing this?

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