Agent wants 2% for not selling a house

78 Replies

While I am not a real estate agent, though I do play one on tv, unless you had a exclusive-right-to-sell listing, you are not obligated to pay him anything, and if some stranger comes up to you wanting to buy it, you don't owe him anything.

I believe this agent could be violating his licensing agreement expecting compensation? Unless you live in a one agent town, to be extorted like that by an agent might be a code of ethics violation. I would tell him he had nothing to do with it, and if you want to cut off your nose to spite your face, then that's your problem...

Just like in life, sometimes we ran into situations like this in business, where a term or agreement was not written nor negotiated, or where an occurrence was not very clear. since you now have your RE license, my advise is to pay him $1,200.00, if he decline this for that 2%, pay him this 2% and cut him off before he cuts you off. 

You are an investor with a RE license, it should be very easy for you to cut him off you, and get another agent if you wants to or if it is very important, so you can concentrate more on your investing/rehabbing deals than spending the time selling the properties by yourself.

Good luck.

How influential is this agent?  Are you currently working with other agents? 

I personally wouldnt pay the agent a thing!!! I also would not want to work with someone that doesnt have my best interests at heart. This agent is motivated by money, not by helping you succeed. Which means you're not the only buyer that they shop deals to. You don't need this person. Ive been working with the same agent for 4 years. We dont have any contract and shes totally content with us selling or buying with other agents. She values me as a customer and is happy to see me succeed. She views my relationship as a long term one. Your agent views you as a transaction. To make as much money off every deal possible. Cut him loose!

I would call every major real estate company in the area and ask to speak with agents that are experienced and high producers of your desired types of properties. I promise that you will dramatically increase your deal flow.

No way.  You lost this agent anyway it sounds like.  Why can't he just be happy for you having a buyer show up?  You didn't deliberately dodge him.  I know how important relationships are, but this temper tantrum has shown his true colors.  Character shows when my 4-year old is in the cereal aisle and he doesn't get what he wants either!

Originally posted by @Steve Vaughan:

No way.  You lost this agent anyway it sounds like.  Why can't he just be happy for you having a buyer show up?  You didn't deliberately dodge him.  I know how important relationships are, but this temper tantrum has shown his true colors.  Character shows when my 4-year old is in the cereal aisle and he doesn't get what he wants either!

 I think a good agent would look at this as chance to earn the commission on the next buy.  Maybe if the agent saw this as being the end of a good run of quick commissions, it would be understandable if not ideal.  

Matching the other agent's commission is more than generous.