Some home sellers, unhappy with declining prices, are pressuring real estate practitioners to give up part of their sales commissions.
But Elizabeth Weintraub, an associate with Lyon Real Estate in Sacramento, Calif., and the author of The Short Sale Savior, is quick to tell her colleagues, You'd be foolish to give part of your salary away. I'm worth what I get paid.
On the other hand, Kellie Jones, an associate with Century 21 Beachside in Orange County, Calif., says that during the real estate bubble, practitioners could discount their commissions and make the loss up in volume. Today, she and her colleagues are really digging in their heels because they aren't selling as many homes.
One situation where some real estate professionals are willing to consider a discount is when the practitioner is both the listing and the selling agent and gets the whole pot. But if the seller doesn't request it, they won't get it, Jones says.
Source: Los Angeles Times, Mark Yemma (12/06/2009)