I recently sold a home and used an agent who I have bought two homes with. Inventory in my area is extremely low and, since I did not shop around agents and had a very desirable home, I told my agent that I would pay him 2% commission and the buyer agent 1%. We had a long back and forth and he finally agreed. When it came time for us to accept an offer, we were negotiating the details and he told me that he really advised me to provide the buyer agent another percent on top of the 1%, which at the offer price was an extra $5,000. I asked him why and his answers varied from “they worked together to get me this good offer” to “You have benefitted from the current system when you bought and need to pay it forward” to “it would be embarrassing for this agent to take less than the seller agent”. He said “I implore you to pay this extra 1%”. I said absolutely not. Fifteen minutes later he informed me that they had made the offer and agreed to the 1% commission for the buyer.My agent begged me to pay this other agent a whole percent more with no benefit to me. Remember that you have the leverage in these situations and don’t let yourself get bullied or manipulated by people who are “working for your interest”. They are working in their own interest, and you should too.
Majeed Ekbal's Daily Blog 