Posted By:
Judge Dred (Fred)
I like that sliding scale. The only issue would be in a lot of areas the price of home is $500K (and that's cheap). If they take a quick offer of 85% ($425K) then they'll still bank $8.5K for doing very little (losing $75K for the seller) or nothing at all except list the property.
Those numbers work good on smaller scale home sales. I remember when $200K was a modest home and 6% (isn't that the industry standard) was $12K. Could you imagine paying 6% on $500K? That's $30K for trying to get market value for a house. To me it's nuts. Why should someone pay $18K more to sell the same house a few years later when there's not much effort in a truly moving market. I've seen so many people flipping houses (like people flipping cards). If someone put a house on the market and it sold in 5 days (at 100%) then the price was probably under market and I'd be a little peaved if I was the seller. I guess it's hard to balance all of it.