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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Would you let $5000 come between you and your dream house?
Posted by Sunrise813
You sound very fustrated, but you have to understand that its their decision and just like the seller will not budge at 435K the buyers may not be able to budge past $430K.
Buying a house is one of the biggest decision a person makes, and I can understand needing to think things over before making a final decision.
oh i'm very sympathetic to the fact that buying a home is the biggest investment of someones life...its the first think i tell people. but yes, i'm just frustrated over the fact that they originally were looking at houses over $500k and now I find them this great house way UNDER their budget and they seem to scared to move on it. i just needed to get my aggressions out  .
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Posted 4/24/07 12:38 PM  |
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lilacwine
only love...
Member since 5/05 2034 total posts
Name:
<3
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Re: Would you let $5000 come between you and your dream house?
Posted by Sunrise813
You sound very fustrated, but you have to understand that its their decision and just like the seller will not budge at 435K the buyers may not be able to budge past $430K.
Buying a house is one of the biggest decision a person makes, and I can understand needing to think things over before making a final decision.
Well said. The sellers should also be thinking about that last $5,000.
Have you offered to lower your commission?
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| Posted 4/24/07 1:02 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Would you let $5000 come between you and your dream house?
Posted by lilacwine
Posted by Sunrise813
You sound very fustrated, but you have to understand that its their decision and just like the seller will not budge at 435K the buyers may not be able to budge past $430K.
Buying a house is one of the biggest decision a person makes, and I can understand needing to think things over before making a final decision.
Well said. The sellers should also be thinking about that last $5,000.
Have you offered to lower your commission?
A few things - I would never lose a house over 5K - especially a house I loved. Too many people try and play the game - but exactly - 30 dollars a month is NOTHING.
And to address the above question - why should Alnem offer to reduce her commission? She did her job - took them to tons of homes - and they found a house that they loved. WHY should she have to cut her commission???
Message edited 4/24/2007 1:15:15 PM.
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| Posted 4/24/07 1:05 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: Would you let $5000 come between you and your dream house?
Both the buyer and the seller seem to be stubborn in this case. I wouldn't let a house I loved go over $5K--it's just too small an amount of money to go crazy over.
I also think the seller might be a bit stubborn here. We had an offer on our co-op that was $5K less than we wanted. We countered, but the buyer would not go up at all. We decided to accept--we just figured it wasn't worth the headache of trying to find a new buyer all over again. The buyer backed out in the end, but still, we were ready to lower our expectations to make the sale.
Kerry's suggestion of halfway sounds good. If neither side will budge though, there isn't much you can do.
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| Posted 4/24/07 1:12 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Would you let $5000 come between you and your dream house?
Posted by Diana1215
Posted by lilacwine
Posted by Sunrise813
You sound very fustrated, but you have to understand that its their decision and just like the seller will not budge at 435K the buyers may not be able to budge past $430K.
Buying a house is one of the biggest decision a person makes, and I can understand needing to think things over before making a final decision.
Well said. The sellers should also be thinking about that last $5,000.
Have you offered to lower your commission?
A few things - I would never lose a house over 5K - especially a house I loved. Too many people try and play the game - but exactly - 30 dollars a month is NOTHING.
And to address the above question - why should Alnem offer to reduce her commission? She did her job - took them to tons of homes - and they found a house that they loved. WHY should she have to cut her commission???
i'm not greedy but i'm also certainly not going to reduce my commission that i have earned. i think everyone forgets that realtors work for free until we get to the closing table. thats the gamble you take in this field. so in essence, i've worked with this couple for almost 8 months with nothing to show for it. even the seller told me "i would never ask you to reduce your commission. i appreciate how hard you are working."
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| Posted 4/24/07 1:54 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Would you let $5000 come between you and your dream house?
For everything that you've said, I still think they are just not ready to pull the trigger. Something is holding them back and it's not $5K. Maybe they just like the chase.
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| Posted 4/24/07 2:05 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Would you let $5000 come between you and your dream house?
Posted by alnem
a little background...I have a buyer that i've been working with for quite some time now. there was a house they made an offer on in syosset and lost out on because it took them forever to counter any offers the sellers thru back...they had to discuss everything in length with their parents....mind you they're almost 40...they are not kids.
then i finally found them this GREAT house in plainview, needs no work. granite countertops, new roof, new siding, basement is completely redone, new bathrooms, hardwood floors, CAC, the works. they make an offer....lowwwwwww. so i present it and the seller counters. this was on SATURDAY! buyer is stuck at $430k and the seller wants $435k (this is what he NEEDS to net after paying off everything so he cant budge). the buyers think they're being slick and sticking to their $430k thinking the seller will cave. i think they're just gonna lose the house to another buyer again.
my question to you is, after 4 days of negotiating, would $5k keep you from the house that you say is your "dream house"???? for me, maybe because i do this stuff daily, its not a big deal to me. you wouldnt even feel an additional $5k a month on your mortgage! if you LOVED a house as much as these 2 claim to, would you let this small amount keep you from it or would you just go for it?
Probably I'd go for it - it would really depend on a lot of things... BUT at the same time, if I were the seller and REALLY wanted to sell the house, I also wouldn't let $5k stop me.
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| Posted 4/24/07 2:05 PM |
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luckyinlove
I love my baby girls!
Member since 12/06 2441 total posts
Name:
Lauren
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Re: Would you let $5000 come between you and your dream house?
It depends--- we are in a similar situation-- we found a house that we really like, not love b/c it still needs work and has some other issues, but it is great for us for right now. They are asking 429k, so we made a low starting offer of 380 and they countered at 424k. We countered with 390, they wouldn't budge. A few weeks later, we countered with 400, they said 420, we went up to 406 and the realtor said that they would reduce their commission by 1%, which would bring them to 410, but they said no- 420. Now we are 10k apart, but I refuse to budge b/c we have "budged" a lot more than they have. We are already over our budget and over what the house is worth. At this point I don't even care anymore b/c apparently it was just not meant to be.
Back to you, maybe they feel the same way?
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| Posted 4/24/07 3:56 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Would you let $5000 come between you and your dream house?
Posted by alnem
Posted by Diana1215
Posted by lilacwine
Posted by Sunrise813
You sound very fustrated, but you have to understand that its their decision and just like the seller will not budge at 435K the buyers may not be able to budge past $430K.
Buying a house is one of the biggest decision a person makes, and I can understand needing to think things over before making a final decision.
Well said. The sellers should also be thinking about that last $5,000.
Have you offered to lower your commission?
A few things - I would never lose a house over 5K - especially a house I loved. Too many people try and play the game - but exactly - 30 dollars a month is NOTHING.
And to address the above question - why should Alnem offer to reduce her commission? She did her job - took them to tons of homes - and they found a house that they loved. WHY should she have to cut her commission???
i'm not greedy but i'm also certainly not going to reduce my commission that i have earned. i think everyone forgets that realtors work for free until we get to the closing table. thats the gamble you take in this field. so in essence, i've worked with this couple for almost 8 months with nothing to show for it. even the seller told me "i would never ask you to reduce your commission. i appreciate how hard you are working."
Exactly!!  You should be rewarded for doing such a great job - not penalized.
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| Posted 4/24/07 4:42 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Would you let $5000 come between you and your dream house?
No way - $5k is nothing over the lifetime of a mortgage.
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| Posted 4/24/07 5:05 PM |
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Marcie
Complete Happiness :)
Member since 5/05 27789 total posts
Name:
LOVE being a Mommy!
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Re: Would you let $5000 come between you and your dream house?
Posted by MrsERod
Posted by Meaghan729
$5,000 amortized over thirty years at 6.5% is $31.60 more a month.
if they want $30 a month stand in the way of their dream house, they are crazy.
this is exactly what i was going to say.
This is what I was going to say too
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| Posted 4/24/07 5:11 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: Would you let $5000 come between you and your dream house?
Just happened to us, (not are dream home), but the seller came half way and that is what we settled on. We thought it was fair. But we were also willing to come up to the extra $5k.
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| Posted 4/24/07 5:40 PM |
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Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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Re: Would you let $5000 come between you and your dream house?
for a dream house - no way...but maybe it's only what you think is their dream house.
I know lowering your commission may seem harsh, but if they do not buy you will get $0. Not saying you should do it, but just another thing to think about.
I guess everyone needs to figure out what is best for thier packetbooks.
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| Posted 4/24/07 6:00 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: Would you let $5000 come between you and your dream house?
no absolutely not, but maybe they are just holding out.....good luck! theyll find something!
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| Posted 4/24/07 6:33 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Would you let $5000 come between you and your dream house?
Posted by Eleanor
for a dream house - no way...but maybe it's only what you think is their dream house.
I know lowering your commission may seem harsh, but if they do not buy you will get $0. Not saying you should do it, but just another thing to think about.
I guess everyone needs to figure out what is best for thier packetbooks.
IF they do not buy this house I'm sure they will find another one through her. I think what people really don't get is the fact that let's say this house really goes for 435K - usually the split for the agent who brings in the buyer is 2% and in some cases 1.5% -- that is $$8700. Unfortunately all of the money does not go to Alnem - she probably takes home about half of that depending on her split with her broker - that means she is walking away with $4350 and that is BEFORE taxes.
She has been working with these people for months, and when you break it down it's really not that much. If it was something that she did wrong and had to make up the difference that is one thing - but to just try and get this deal done when she did nothing but her job - and to take a lower commission is alot to ask.
I have taken lower commission in certain circumstances - and I have also stopped working with people who I have worked my butt off for who have suggested I take a lower commission. I guess each circumstance is different.
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| Posted 4/24/07 6:55 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Would you let $5000 come between you and your dream house?
Posted by Diana1215
Posted by Eleanor
for a dream house - no way...but maybe it's only what you think is their dream house.
I know lowering your commission may seem harsh, but if they do not buy you will get $0. Not saying you should do it, but just another thing to think about.
I guess everyone needs to figure out what is best for thier packetbooks.
IF they do not buy this house I'm sure they will find another one through her. I think what people really don't get is the fact that let's say this house really goes for 435K - usually the split for the agent who brings in the buyer is 2% and in some cases 1.5% -- that is $$8700. Unfortunately all of the money does not go to Alnem - she probably takes home about half of that depending on her split with her broker - that means she is walking away with $4350 and that is BEFORE taxes.
She has been working with these people for months, and when you break it down it's really not that much. If it was something that she did wrong and had to make up the difference that is one thing - but to just try and get this deal done when she did nothing but her job - and to take a lower commission is alot to ask.
I have taken lower commission in certain circumstances - and I have also stopped working with people who I have worked my butt off for who have suggested I take a lower commission. I guess each circumstance is different.
I am not an agent/broker but come on. Why should anyone who has worked for those people for so long take a cut in pay. I don't agree at all. If you can't afford the house, stop wasting people's time. Agents are already only paid when a house close. They have to go through LOTS of showing to get something in return. I would like to know who is willing to give up their income here???
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| Posted 4/24/07 7:08 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Would you let $5000 come between you and your dream house?
Posted by smdl
Posted by Diana1215
Posted by Eleanor
for a dream house - no way...but maybe it's only what you think is their dream house.
I know lowering your commission may seem harsh, but if they do not buy you will get $0. Not saying you should do it, but just another thing to think about.
I guess everyone needs to figure out what is best for thier packetbooks.
IF they do not buy this house I'm sure they will find another one through her. I think what people really don't get is the fact that let's say this house really goes for 435K - usually the split for the agent who brings in the buyer is 2% and in some cases 1.5% -- that is $$8700. Unfortunately all of the money does not go to Alnem - she probably takes home about half of that depending on her split with her broker - that means she is walking away with $4350 and that is BEFORE taxes.
She has been working with these people for months, and when you break it down it's really not that much. If it was something that she did wrong and had to make up the difference that is one thing - but to just try and get this deal done when she did nothing but her job - and to take a lower commission is alot to ask.
I have taken lower commission in certain circumstances - and I have also stopped working with people who I have worked my butt off for who have suggested I take a lower commission. I guess each circumstance is different.
I am not an agent/broker but come on. Why should anyone who has worked for those people for so long take a cut in pay. I don't agree at all. If you can't afford the house, stop wasting people's time. Agents are already only paid when a house close. They have to go through LOTS of showing to get something in return. I would like to know who is willing to give up their income here???
THANK YOU!!!
Message edited 4/24/2007 8:53:38 PM.
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| Posted 4/24/07 8:53 PM |
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curliegirl
He's here!!!!
Member since 3/06 10128 total posts
Name:
Gina
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Re: Would you let $5000 come between you and your dream house?
I agree that you absolutely should not take a commission cut....why should you? You work so hard to find people houses, you deserve every penny!!!
It sounds like they have no clue about negotiations, I hope you don't lose it.
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| Posted 4/24/07 9:08 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Would you let $5000 come between you and your dream house?
I am just reading this and I totally agree. You should absolutely NOT reduce your commission. If they are going to let $5,000 come between them and the house they love - so be it.
And the fact that they are 40+ and not kids but still need to speak to their parents (not just show their parents the house) is a problem. They are not ready to buy yet.
For some reason people expect a realtor to make the deal work by taking less money for their work. There is no other job in the world where people are asked to take less money for their job AFTER the job is done You run around for months and in some cases a year or more and when the deal is finally on the table the person who has put in the most work, the agent, is asked to take a pay cut
I had a situation recently where I listed a house and ended up getting offers well beyond the price the seller wanted. I had worked with this person since January 2006 and the deal closed March 2007. He was very hard to work with - to the point of calling and e-mailing me in the middle of the night. I felt like his personal shrink.
My reward was to be asked to take 50% less than the agreed upon commission. In the end I got my full commission and the seller finally got it - real estate pays my bills & I do not work for free.
If they do not buy this house, they will likely buy another house through Em. And if you do agree to reduce your commission for this deal and it does not happen - then they certainly will ask you to reduce it for the house they end up buying.
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| Posted 4/27/07 10:23 AM |
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domsmom52704
Family is everything!!!
Member since 5/05 1989 total posts
Name:
Jess
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Re: Would you let $5000 come between you and your dream house?
Nope, this happend to us and we came up the $5000. I think it only makes about a $60 difference in payments per month
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| Posted 4/27/07 10:25 AM |
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Smiles111
...
Member since 12/06 1905 total posts
Name:
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Re: Would you let $5000 come between you and your dream house?
It sounds like these people may have deeper issues, if you know what I mean 
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| Posted 4/27/07 10:34 AM |
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Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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Re: Would you let $5000 come between you and your dream house?
Posted by Diana1215
IF they do not buy this house I'm sure they will find another one through her.
She mentioned that she didn't want to deal with them afterwards. I was only looking at this specific example. I totally don't think that REA should have to lower their commission, but in this circumstances, if she walks away - it's $0.
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| Posted 4/27/07 12:58 PM |
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LIPrincess
Foxy Lady
Member since 6/05 1610 total posts
Name:
Jaimie
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Re: Would you let $5000 come between you and your dream house?
You have FM.
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| Posted 4/27/07 1:24 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Would you let $5000 come between you and your dream house?
Posted by Eleanor
Posted by Diana1215
IF they do not buy this house I'm sure they will find another one through her.
She mentioned that she didn't want to deal with them afterwards. I was only looking at this specific example. I totally don't think that REA should have to lower their commission, but in this circumstances, if she walks away - it's $0.
I understand - I've walked away from people that I worked with for months because they suggested I take a lower commission (to help them pay for a CO) I was more insulted then anything and walking away I actually was able to feel good about it. Yes - I wasted TONS of hours and weekends working with them....but I believe if I kept working with them - they would have driven me crazy for another 6 months. No thanks!! 
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| Posted 4/27/07 1:47 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Would you let $5000 come between you and your dream house?
435 in plainview with no work needed? I'd jump on that...5K would definately not stand in my way. i agree with the other posters -- these buyers are either scared or trying to be extra slick.
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| Posted 4/27/07 1:47 PM |
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