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Old 03-30-2009, 07:57 AM
 
Location: East Northport
3,351 posts, read 9,756,661 times
Reputation: 1337

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Quote:
Originally Posted by lesscrappy View Post
Not to mention the fact that a sellers broker is much more likely to advise their client to sell on a lower offer than if they have to split their commission...
This is incorrect.
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Old 03-30-2009, 08:23 AM
 
Location: NY
1,416 posts, read 5,599,407 times
Reputation: 605
Quote:
Originally Posted by lesscrappy View Post
Not to mention the fact that a sellers broker is much more likely to advise their client to sell on a lower offer than if they have to split their commission...
The seller's agent is contractually bound to get the best deal for his or her client, and so to "advise" an acceptance of a lower offer just because of the commission split would be unethical. Now if the lower-offer buyer was more solid (putting more money down, already pre-approved for a mortgage, or was all cash, yadda yadda) than the higher-offer buyer... then I could see the seller's agent advising that from the point of view of "Will the deal go through or is it likely to die?" the lower offer buyer might be a better choice.
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Old 03-30-2009, 02:50 PM
 
Location: Long Island
9,933 posts, read 23,142,320 times
Reputation: 5910
Quote:
Originally Posted by totallyfrazzled View Post
The seller's agent is contractually bound to get the best deal for his or her client, and so to "advise" an acceptance of a lower offer just because of the commission split would be unethical. Now if the lower-offer buyer was more solid (putting more money down, already pre-approved for a mortgage, or was all cash, yadda yadda) than the higher-offer buyer... then I could see the seller's agent advising that from the point of view of "Will the deal go through or is it likely to die?" the lower offer buyer might be a better choice.
Thanks for the explanation from the "third party", which on this forum seems to have more credibility
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