Listing Agent CLAIM: "If I offer less than the 'standard' commission, buyer's agents will refuse to show your home to their clients."
Sadly, some agents are unethical and dishonest, at times going out of their way not to show homes offering lower commissions. Fortunately, these agents make up a small percentage of the population, as most understand that they have a fiduciary responsibility to put their client’s best interests above their own. Subversive agents are easy to identify as they often want to avoid talking about commissions at all costs - specifically, when asked to explain how they will earn the traditional 3%. Food for thought: Maybe they realize their services are no longer worth 3% (or never were). Over 90% of buyers find the home they eventually buy via the internet and without an agent’s help. The role of the buyer's agent is relegated to opening the door, being a sounding board, and facilitating the transaction documents. Buyers who talk with their agent before they start shopping for a home are in a more powerful position when negotiating with the seller. Sellers who tell their agent to offer less than 2.8% to a buyer’s agent should ensure the public remarks in their home's listing says, “Commissions are negotiable,” so that the dishonest buyer's agents aren’t as quick to steer away naive buyers.