avert foreclosure

avert foreclosure:June 22, 2004 -- After selling a home, real-estate agents often give clients a gift, such as a scented candle or decorative plate. Jeffrey D. Thomas received something more memorable: a check for more than $10,000. Mr. Thomas is the kind of customer most agents don't want to meet. He believes commissions on home sales are way too high, particularly for people like himself who have bought and sold homes before and are willing to help steer the transaction. "It's not rocket science," says Mr. Thomas, a lecturer at the Massachusetts Institute of Technology. So he found an agent, Bill Wendel, who works by the hour, instead of taking a percentage of the sale price as most agents do. With Mr. Wendel's help, Mr. Thomas bought a $537,400 home in Arlington, Mass., last year. The price included a 2.5% commission, or $13,435, for the agent representing the buyer. But Mr. Wendel, who has been experimenting for years with new ways to sell real estate, turned his cut over to Mr. Thomas. In turn, Mr. Thomas paid Mr. Wendel $2,960 for 29.6 hours of work at $100 an hour. That left Mr. Thomas with a net rebate of $10,475. To read complete article click on the link below avert foreclosure It Pays to Negotiate Your Agent's Commission

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