Posted by
downradio
15 yrs ago
Hi everyone, appreicate your advice. I know all the agents in HK ask for 1% commission, but in practice, do people really pay that much or negotiate it down? Would really appreciate hearing what others have paid in practice to help me with my own negotiation..
Thanks
My approach is this: If the agent can achieve the "Target Price" that I give him, then I pay 1% commission. If he wants me to deal at a different level, than I expect him to "share in the pain." If, for example, he gets a buyer at $20,000 below my target, then I expect him to reduce his commission by $10,000, and my Net price becomes $10,000 less than my target.
This method gives him a strong incentive to hit my target.
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