I have nothing to add here other than to report that i read this whole thread without popcorn involved.
I think I need 6% commission just for reading this entire thing. This is stupid.
Bro, you got in your own way. If the deal was the number you wanted, YOU blew it. Take this as an education lesson and leave your pride in the rear view.
And- your agents are wrong for saying to report the original agent. Sounds like he got more for the seller who he has a fiduciary responsibility to. Dammit, why am I explaining this. Now I need 7%
@Cal C. I understand your frustration but I don't see an ethics issue. I see an issue with the seller's agent acting in a way that isn't doing themself a favor by alienating a potential future client in you but you can't really blame them for representing their client and getting the most money for their property.
Interesting story similar to yours:
As recently as last month, I contacted an owner who was wanting to sell a distressed property off MLS that was next door to my mother's house at a deep discount in a competitive market. As an investment it would've been terrific. The seller offered the discounted price to the current tenants (it was a rental) who declined, they offered my future brother-in-law the same discounted price (they knew my potential interest at this point but I deferred to my brother-in-law to give him a chance being a first-time home buyer) but he couldn't get a loan. When it came to me, they discovered I was an investor and substantially raised the asking price to way above market. Like almost $100k higher. That made the deal unworkable for me and I felt the price was arbitrarily increased because they felt I had the cash and incentive to pay emotionally. I don't really know their motives but the experience taught me something very quickly: there will be many times we cannot control the actions of others and some deals might be lost for reasons with which we struggle. I had to walk away and that was hard because I felt targeted. But the good news is there are lots of deals to be made - I'll just find another one.
Easier said than done but it's all part of the growth process. Good luck on your journey brother.
Based on my experience, majority of agents are not going out of their way to bat for their buyers/sellers.
I work with 2 proactive agents - and they consistently own the other side.
Such agents that do are worth their weight in Gold. They help to directly create value and wealth with every transaction without me even asking. They also can and will bring deals to your attention.
All the talk about whether 6% is fair or not is irrelevant if you are not paying it. I am not a bible thumper, but Matthew 20 - The Parable of the Workers is something to this day I keep in mind for a lot of these types of things, not just real estate.
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