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[quote=Anonymous][quote=Anonymous][b]The commission agreement is in the contract between the seller and the seller's agent. A seller is entirely within his or her right to say "After thinking about it, I'm not willing to sell this house through you unless you agree to reduce your commission from 5% to 3% so that I can accept this pending offer."[/b]

And, as the Economist Article nicely points out, this argument is circular. Agents tell sellers they'll build the commission into the cost of the house, and tell buyers they're not hurt by the commission. Its not possible that both are true.[/quote]

You just contradicted yourself. The seller is not within his or her right to change the terms of a listing contract in this way. Not at all. In fact, if the agent brings a ready, willing and able buyer and the seller tried to do this and the buyer walked because of it, the seller would legally owe the agent a commission, whether or not the house has sold since the agent fulfilled the terms by bringing a ready, willing, and able buyer.

So, once there's a contract, a seller actually [i]has no right at all[/i] to say "I'm not wiling to sell this house through you unless you agree to reduce your commission from 5% to 3%." That's what a contract IS.[/quote]

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