No. of Recommendations: 3
So sometimes it’s worth it.
Exactly. You needed your realtor to do a bunch of work, handle all the paperwork (including the 1031 stuff, the repairs, the closing, etc). The guy next door also sold his unit 3 days later, for the same price (it's an identical unit but mirror image of yours), but his realtor only spent a couple of hours on it because it sold to the third person that looked at it, and all 3 showings were on the same afternoon! And the owner organized the minor repairs and attended the closing. He also paid 6%, or $60,000.
It made me realize that the tiered commission I sold the Pittsburgh house under was exactly backwards. The commission should have gone up as the price increased - to incent the agent to negotiate for a better price...
You think that's a bad incentive structure?!?? The way things are set up today, the buyers agent gets paid MORE when the price is higher. So if the buyers agent works hard to negotiate the price down, they get paid LESS!
