Real Estate commissions based on sales price

[Will Barnard]

I ahve recently had several debates with several agents and others regarding how much agents should be paid for contracted price.

The scenarios that come up with me are this: If you list a property for $300k and an offer comes in at $290k with seller to credit buyer $8k towards closing costs, then their actual offer (in my book) is $282k. s such, I believe it is only fair that agents should be paid based on the $282k (assuming that was agreed upon as final contract) and not based on $290k.

I have had several issues with buyers needing money for closing lately so they often increase their offer price, then reduce it with teh seller paid costs. As such, I feel that the agents should be paid based on the net of the offer price less the seller credit (of course I dod not expect them to get reduced by all other closing costs, only seller credits requested by buyer.

What are your thoughts?

- Will Barnard

[Jon Holdman]

If you look at the secret comments in the listing for REOs it always says "commissions based on net sales price". Add that to your listing and it removes all question.