You are an agent and able to sell your client's house now for $500,000 and you can make $5000 in commission (1%).

However you may be able to secure a better offer next week at $550,000 and your potential gain in commission is $500.  But you would have to incur $600 in expenses more to secure this better deal.

What do you do and why?

The ethical action is to put your client's interest first and hold out for the better offer but how many agents will take this course of action?

I doubt if any agent will go in for this noble action,unless he is a friend too.Normally the agents have a tendency for making fast buck and why not,nobody waits,the opportunity may not be there again.

You are probably right on  the money;  sasdly, most agents will put their interest first before their clients - that is  the ethical isssue and perhaps the most compelling reason to buy or sell your house DIY.

Dear liowkc,
            &nb sp;       I would suggest that hire a high profile agent and at the same time  keep your own eyes and ears open and be careful during the whole process of the deal.The secret is trust no one in real estate dealings.