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Ummmmm, Star Trib, you did this article already-I don't believe it was the exact same article, but it was the EXACT same theme. I believe it was 6-12 months ago. Same as what you did with the farmer out in southwest Minnesota who left $3mil to various entities in town. What's going on with these repeat stories?

Please everyone- real estate agents are NEVER working for you. Their only concern is that the house sales as fast as possible. The guy in the article gave up $30K (potentially). The real estate guy only gave up his share of the 3.5% half his agency got, typically around 1.5% of sale or less. It cost him about $450, out of a potential $7125, and he is free to go on to the next sale and make another commission. Bill G.

Price should have been 290k.. good job and who would BUILD a house in this market.. when you can buy them for 40 cents on the dollar.

Ruphina-umm, very simple. Real estate is like any sales profession in that it's built on referrals and trust. If you truly believe that agents are in it for a one time commission, you're misinformed OR you're not running into good, long term agents. And, on top of it, the sale was closer to the list price than the market average. A bit of research and introspection on your own circumstances (and a reality check) might go a long way... Just saying

Whether the market is good or bad, the bottom line is...most houses are priced too high! Homeowners ALWAYS think their house is worth more than it is. Yes, your neighbors may have gotten $300K for their same-sized home three years ago, but look at the CONDITION of the home they sold compared to yours, and the price the market will CURRENTLY bear. Realtors have an easy time asking you to drop your price $10K after a week...because it was not worth the original asking price, to begin with. PS - I am not an agent, but please...let's not blame this all on the agents, ruphina. The truth is, homeowner's are usually quite clueless as to the actual worth of their home and then blame it on the agent who TOLD THEM they were pricing it too high, to begin with. Then it's the 'agent's fault' when they can't get it sold...go figure.

"Real estate is like any sales profession in that it's built on referrals and trust. If you truly believe that agents are in it for a one time commission, you're misinformed OR you're not running into good, long term agents." Maybe. But, unless you are buying multiple properties or relocate often, how many home buyers/home sellers are making long-term relationships with a real estate agent? I don't see why it would make much sense for a real estate agent put all of this extra effort for an extra $400 commission, whether he/she is good or not.

While the story is right, the numbers are way off. $475K houses are not selling for $445K unless the state and city are in prosperity states like Minnesota. There are just no new buyers. With foreclosures still rampant, and a small population growth, there are very few qualified people to buy these homes. The one stat the real estate industry never releases is the "First Time Buyer Stat. It's horrendous. IMO, major corrections are still to come on real estate prices.

$456,000 for a house? Good Lord. What does that make for Property Taxes? $10,000 per year? Holy!

I still contend real estate agents are really only interested in how fast a property sells, not what it sells for, because in the overall world of their compensation, more sales will generate way more income than those extra dollars per sale. The incentive to try to get you your asking price just isn't there. Bill G.

ruphina - You just don't get it. "Your asking price" based on 'what', is the point here. If a homeowner wants $500K for a $400K house...why should a real estate agent spin their wheels for months and put up with a seller who already thinks they know it all, when they could be out making a living with a client who will listen to their expertise and actually take their advice? And I beg to differ that agents don't care. Real estate is a 'word-of-mouth' business. Most agents I know get their business from referrals, not advertising. So quite literally, one bad reference could be detrimental to their business. Yes, I do agree their are some agents out there who are all about getting as many listings as possible...but this is not the majority of agents. And you do have the choice to stay clear of them. Get personal references from friends and family, whittle that list down, then interview no more than 3 before hiring. Don't just pick one out of the phone book.