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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (125176)	5/24/2008 2:45:43 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 306849

That's funny. We just had that same thing happen to one of our agents yesterday. A house sits on the market overpriced with the owner ignoring pleas to get ahead of the market. He started at 500k a year and a half ago and accepted a 365k offer yesterday and that was w/the home listed at a 4% total commish. The buyer's agent asked for a 3% coop and put it right in the offer(rather than the stated 2%). The seller was pissed but gave in after we pointed out that an identical home down the street is set to close 15k under his offer price any day. He then tried to get our agent to take only 1%. She is very mild mannered but a hard worker. She flew into a rage at the seller. lol! After a year and a half of ads and open houses she will break even at best. An agent with a buyer in hand is king in this market.