My realtor is charging a commision which is different than agreed on!

[jdac]

What is the name of your state? New York

We recently signed an exclusive right to sell agreement with a realtor. The agreement we signed states " Owner agrees to accept a net price of $46,000, authorizing [agent name] to retain any amount received over and above said net price as reimbursement for expenses and as a commision." This I understand, no problem. But after it's all signed she tells us she is setting the price of the home (a 13 year old mobile home) at $51,000, which is way too high for our location. We asked why so much and she told us to cover her 10% commission fee? Am I missing something? No where in the entire contract is it mentioned that her fee will be 10%. She is not listing it in the paper due to the high price because she says it will "scare" buyers off, she wants to get them in the door first. She hasn't listed it with the local MLS either. Can she do this? As an extra added bonus, our copy of the contract is not signed by the realtor, only by us. Is this a binding contract?

[DrewfromCA]

It sounds like it is binding, but to the extent that is worded. Nowhere does it say 10%, so you aren't obligated to pay her 10%.

On a different note, when you have a realtor, you should make it a habit of either paying a percentage commission or actual dollar amount. What could happen is that your home might be only worth $46k, and that means the realtor is working for free, which means guess what..... she won't even try to sell it.

[HomeGuru]

Originally Posted by jdac

What is the name of your state? New York

We recently signed an exclusive right to sell agreement with a realtor. The agreement we signed states " Owner agrees to accept a net price of $46,000, authorizing [agent name] to retain any amount received over and above said net price as reimbursement for expenses and as a commision." This I understand, no problem. But after it's all signed she tells us she is setting the price of the home (a 13 year old mobile home) at $51,000, which is way too high for our location. We asked why so much and she told us to cover her 10% commission fee? Am I missing something? No where in the entire contract is it mentioned that her fee will be 10%. She is not listing it in the paper due to the high price because she says it will "scare" buyers off, she wants to get them in the door first. She hasn't listed it with the local MLS either. Can she do this? As an extra added bonus, our copy of the contract is not signed by the realtor, only by us. Is this a binding contract?

**A: that agent is an idiot doing everything the wrong way.

[jdac]

Thanks to you both, I didn't think it sounded right. Do I now let her know my feelings on the matter and ask her to lower the price to a reasonable amount? I am not looking to make a killing here, would be happy to give her anything over the $46,000. Could I reasonably ask her to re-negotiate the contract, stating either a dollar amount or percentage rate acceptable to us both?

[HomeGuru]

Originally Posted by jdac

I didn't think it sounded right. Do I now let her know my feelings on the matter and ask her to lower the price to a reasonable amount? I am not looking to make a killing here would be happy to give her anything over the $46,000.

**A: here is the right way to do things as a Realtor. Gather all comps then advise you of the market value of your property, come up with a list price based on such value, determine the sales commission, list the property and market it wisely ie, MLS, open houses, print media advertising etc.

[jdac]

Am I now in a position to ask her to re-write our contract to end the confusion and appease us both? (Thank you both for your insight).

[HomeGuru]

Originally Posted by jdac

Am I now in a position to ask her to re-write our contract to end the confusion and appease us both? (Thank you both for your insight).

**A: why do you still want to use her?

[jdac]

I believe she would have a better chance helping a buyer get financing for a used mobile home then I would or a potential buyer would. She sells Manufactured housing as well.

[HomeGuru]

Ok, then list at market vlaue and pay the 10%.

[nate811]

She is not listing it in the paper due to the high price because she says it will "scare" buyers off, she wants to get them in the door first.

That's a lie. She's not listing it in the paper because she would have to pay for the ad.

[clueless55]

Are not 'net' listing illegal in some states?

[BradleyS]

Originally Posted by clueless55

Are not 'net' listing illegal in some states?

RE Broker in Kansas:

In Kansas at least, a NET LISTING is illegal.

Originally Posted by jdac

I believe she would have a better chance helping a buyer get financing for a used mobile home then I would or a potential buyer would. She sells Manufactured housing as well.

She sounds like a con artist to me. Good luck...you will need it.

[HomeGuru]

Originally Posted by BradleyS

RE Broker in Kansas:

In Kansas at least, a NET LISTING is illegal.

**A: what about an internet listing?

Originally Posted by HomeGuru

**A: what about an internet listing?

HG, I have asked you before to pay better attention and now I will ask you again to pay better attention.

He was talking about FISHING NETS, okay?