5,220,879
Ask her if she discounts her pay check? This is how you make a living and why would you discount the service just because someone else places so little value in their services.
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Evelyn Johnston
Elkhart, IN
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Eve Alexander
Tampa, FL
-
Susan Laxson CRS
La Quinta, CA
-
Sandy Padula & Norm Pa...
, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Elyse Berman, PA
Boca Raton, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Allie Angeloni
Oro Valley, AZ
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Debbie Gartner
White Plains, NY
-
Nina Hollander, Broker
Charlotte, NC
1,472,185
That's not a Buyer but a manipulator! I'd tell them to go jump and fast. They have the right to ask but you have the right to say NO.
-
Eve Alexander
Tampa, FL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Bob Crane
Stevens Point, WI
-
Raj Taj
Lake Bluff, IL
-
Debe Maxwell, CRS
Charlotte, NC
-
Allie Angeloni
Oro Valley, AZ
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
5,254,195
First of all, kick-backs as you put it are not legal. Beyond that, the answer would be no. Our buyer agency agreements state the amount of commission I will earn on the transaction either in a fixed fee or as a percent of the purchase price. It's a contractual agreement.
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Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Jessie Cochran
Panama City, FL
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Allie Angeloni
Oro Valley, AZ
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Debbie Laity
Cedaredge, CO
6,625,572
I would tell them that "I am a real professional and do not need to pay kickbacks to get business, do you want to work with a professional or someone who is less than trustworthy and will likely sell you out as fast as he sold out his own commission".
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Allie Angeloni
Oro Valley, AZ
-
Raj Taj
Lake Bluff, IL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Debe Maxwell, CRS
Charlotte, NC
-
Debbie Gartner
White Plains, NY
-
Bob Crane
Stevens Point, WI
1,603,317
Nordstrom Never Panics When Kmart Has A Sale! I'd let her know her friend broke the law and that I appreciate people that want a deal and some agents discount their fess, because in the abscence of skills, that's all they can do. "I can tell you I don't have money to offer you. But what I do have are a very particular set of skills; skills I have acquired over a very long career.Skills that make me a nightmare for people trying to negotiate my commission away. If you let my commission go now, that'll be the end of it."
-
Fern S. Hamberger
Manhattan, NY
-
Debe Maxwell, CRS
Charlotte, NC
-
Allie Angeloni
Oro Valley, AZ
-
Raj Taj
Lake Bluff, IL
-
Silvia Dukes PA, Broke...
Spring Hill, FL
-
Sandy Padula & Norm Pa...
, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
187,002
Always remember that you're a professional...not a "eager to make a deal" prostitute.
-
Debe Maxwell, CRS
Charlotte, NC
-
Eve Alexander
Tampa, FL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Bob Crane
Stevens Point, WI
-
Raj Taj
Lake Bluff, IL
5,440,965
"I'm sorry, this is my full-time business; I am not a discount, Wal-Mart REALTOR® and I'm curious what part of the Due Diligence/inspection/ negotiation/Closing process your friend's discount broker doesn't help his/her clients through?"
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Raj Taj
Lake Bluff, IL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Michael Jacobs
Pasadena, CA
-
Bob Crane
Stevens Point, WI
2,699,987
Only you can make that decision. If you choose to do a Buyer Rebate (legal in my state of Florida), you need to disclose to all parties, including the lender, on the CD or HUD-1.
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Debbie Laity
Cedaredge, CO
4,697,394
And why didn't you use your friend's agent?
(this issue really needs to be addressed at the initial meeting with a buyer).
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Debe Maxwell, CRS
Charlotte, NC
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Susan Haughton
Alexandria, VA
2,546,911
I'd say no.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Lyn Sims
Schaumburg, IL
-
Bob Crane
Stevens Point, WI
117,040
You have to prepare for this at your first buyer consultation meeting by explaining that the seller pays the commission, and that the seller pays you for bringing the seller a buyer. I also say that commission is what I get only when I get results and is what I get instead of a regular paycheck. I explain more, but when I end this aspect of the discussion, I say something like "So, as a buyer, what the seller pays me in commission has nothing to do with you, and and you are not paying commission."
You should also use a buyer's agreement if you are going to work with buyers, and this should also be explained during the consultation.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Michael Jacobs
Pasadena, CA
-
Bob Crane
Stevens Point, WI
290,969
Dorie Dillard, Nina Hollander, and Jill Murty, Realtor - Orange County, CA have my answer - I could not give a better comment than they already have Kris Swierz. Good Luck on whatever you decide to do.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob Crane
Stevens Point, WI
402,032
Just say NO.
Your buyer's friend's agent is weak and doesn't even believe in his or her own value. They'll be a weak negotiator and representative.
Your buyer wants the quality representation you have to offer, but at a discount price. This is a business and it must be treated as such.
Respectfully decline the buyer's offer to reach into your wallet.
-
Sandy Padula & Norm Pa...
, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Bob Crane
Stevens Point, WI
2,443,345
Silly buyer. my answer would be no. I know what I am worth.
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
3,988,138
I would say I cannot speak for what other agents do or the service they provide but I know I am a professional and worth what I make.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
5,141,819
No, I'm sorry I do not work that way. Dorie Dillard has a great response
-
Sandy Padula & Norm Pa...
, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
5,427,007
Some managing brokers may allow it and some may not! What is the sales price? What percentage of your side of the commission does it represent? What does she do for a living and does she normally offer such gracious discounts to her customers?
If you decide to do it, disclose it to all parties to the contract!
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Debe Maxwell, CRS
Charlotte, NC
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Bob Crane
Stevens Point, WI
3,416,322
Kick backs are illegal. In NH we can only gove a buyer or seller $50 bucks. That is it
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Debe Maxwell, CRS
Charlotte, NC
-
Sandy Padula & Norm Pa...
, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
1,746,327
Like Nancy Regan always said; Just say No!
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Debe Maxwell, CRS
Charlotte, NC
-
Eve Alexander
Tampa, FL
-
Thomas J. Nelson, REAL...
La Jolla, CA
2,425,026
I thought that Wayne Martin had a very good answer - this is a great debate topic
-
Lyn Sims
Schaumburg, IL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Debe Maxwell, CRS
Charlotte, NC
3,986,423
Agents that do that cuts our throats and theirs.
We need to reman Professional and not lower our Professional
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Susan Haughton
Alexandria, VA
-
Bob Crane
Stevens Point, WI
1,713,576
Turn the other agent in for an illegal inducement.
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Fern S. Hamberger
Manhattan, NY
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
1,004,518
Um, that is not exactly legal in my state and I would tell them so!
Section 475.25(1) (h), Florida Statutes, generally provides that a licensee may not share real estate compensation with an unlicensed person, Rule 61J2-10.028(2), Florida Administrative Code, creates an exception: “The sharing of brokerage compensation by a licensee with a party to the real estate transaction with full disclosure to all interested parties is not considered a violation of Chapter 475, Part I, Florida Statutes.” Please note that “all interested parties” should conservatively include any person or entity involved in the deal. For example, the buyer’s lender would need to know about this rebate, as it could impact the lender’s loan calculations.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Jessie Cochran
Panama City, FL
1,866,338
I'm sure you are referring to a company that does this as a buisness model. 1st, those agents for the most part have no experience, what I call newer than newbies. They think real estate is all 'order taking'.
I would say the same as Dorie said, what part of your salary are you willing to give back to me?
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Raj Taj
Lake Bluff, IL
-
Thomas J. Nelson, REAL...
La Jolla, CA
1,049,156
Dorie Dillard gets my vote on this one.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
4,321,670
Kris Swierz - if they have contract with you, just say 'NO'. If not, say them 'BYE'!
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
5,773,934
I would not do it. And I like both Dorie Dillard 's answer and Susan Emo 's also. A
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Debe Maxwell, CRS
Charlotte, NC
750,301
Illegal in Oregon. Commission can only be paid to real estate licensees.
-
Thomas J. Nelson, REAL...
La Jolla, CA
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Bob Crane
Stevens Point, WI
509,499
This is a hard one. Do you have a buyers representation agreement with your client? If so what is the commission written there? I'll stick with that. However, having said that, a similar situation happened to me in the past. The client said that if I'm not going to give her rebate she will not do business with me as the other agent, who is also a broker, is giving her a lot of rebate. She threatened to terminate the agreement. I told her I was the procuring cause of the transaction and I'm not going to reduce my commission or release her from her agreement. I can understand if she is wanting to terminate because my service is poor but not for her current reason
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
1,643,560
I hear this all the time....and unfortunately they will be unlikely loyal with 3k carrot in front of their face. It is up to you and your broker( if any) to decide what you want to do.
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
3,762,439
This sounds like the kind of thing that could upset the antitrust guys.
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
2,234,761
Ask her is she takes a cut in her pay to help out her clients. Ask for the details of her friend's transaction, too. You never know what may have gone on with that. Do you think this buyer will walk if you don't help her out?
You still have a case for procuring case. Document everything. I don't think many other agents will touch this one, and if your market is hot, the buyer takes a chance of losing the house due to delays.
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Bob Crane
Stevens Point, WI
1,157,841
I would do nothing as I am not licenced in your state.
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Lise Howe
Washington, DC
613,494
I am in Florida where "kickbacks" to a party to the transaction is legal...so my standard answer is:
"Sorry, that is against our office policy" (No need to explain further)
Eve
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Raj Taj
Lake Bluff, IL
1,466,257
Kris Swierz Wish them well and send them on their way.
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Thomas J. Nelson, REAL...
La Jolla, CA
5,067,806
It would not be an issue because the buyers rep I would have in place addresses compensation.
-
Thomas J. Nelson, REAL...
La Jolla, CA
3,073,909
Refer her to the Buyer Broker Agreement she signed with you...
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Thomas J. Nelson, REAL...
La Jolla, CA
2,830,050
I would have a nice discussion over lunch
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Thomas J. Nelson, REAL...
La Jolla, CA
783,079
I explain that I'm a professional and work hard for my client's best interest. Buying business is not something that I need to do. People work with me because they end up with what they want at the end of the transaction.
5,965,947
I tell them I am NOT a discount broker, and this is how I make a living.
5,145,632
Tell them that you will not ask them to take a cut in pay at their work.
1,531,044
Were you the first to bring the buyer? Tell them no. If you were the first to bring the buyer and they write with the other agent, you can sue that agent for the FULL commission. Then the friend will be paying $3k out of their OWN POCKET.
At least that's how CA law allows us to roll.
917,943
823,979
3,408,890
I had that happen on a Million + buyer. I wish them well. Months later I found out from the client that referred them that they are not happy with the agent and are still looking. Hum ... I wonder why?
1,618,024
8,086,433
232,119
1,258,333
Kris Swierz
Many brokerages in Washington credit back. In Redmond, Wash gave back up to 1%. I checked Redfin, for example, 13807 NE 76th St, 98052 brokerage gave back at closing a lot more almost double your 3000 at $640,000. I will look up the property you plan to make a purchase at least know the going rebate(right side upper corner).
It is something you and your broker need to work out. Try to factor into price so you do not get clobbered with tax. I believe they charge 1.5% for listing full service. If you wish to go ahead you need get them to promise give your solid referral in the future.