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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 42327
Experience:  Texas Attorney for 30 years dealing in real estate
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I am the seller of a home in Tennessee and represented by a

Customer Question

I am the seller of a home in Tennessee and represented by a realtor as is the buyer.
My realtor has agreed to accept the 1% reduction in commission (5% v 6%). However, the buyers real estate agent refuses (totally absent of his buyers knowledge). Again, can I as a seller legally stipulate in my counter offer:"Counter offer $725,000 with a 1% reduction in buyers/sellers real estate commission"
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Ray here to help you.

Yes as seller you can stipulate your counter offer.Here the buyer and the buyers agent have to agree to the terms and the reduction.But this is certainly possible assuming everybody agrees.In such a situation everything is negotiable.Alternatively buyer could agree to pay the buyer's realtor the 1% as a closing cost on their side here.As long as buyer or buyer's agent pays it should not matter to you.

You just want buyer here to pay the 1% to buyer's realtor or have buyer's realtor agree to reduction.Either way it would net you the same .You can definitely counter here and see if they agree to accept the counter offer.

I appreciate the chance to help you tonight.Please let me know if you have more follow up.Thanks again.

Customer: replied 1 year ago.
I'm in Tennessee.........the real estate laws the same as Texas?
Expert:  Ray replied 1 year ago.

Yes you can do so under Tennessee laws.Everything is negotiable here in this situation.Thanks .