Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


Having fear of getting what you need for a successful transaction may be an indicator that you are in the wrong business.  You cannot be fearful in real estate,  A

Nov 15, 2015 03:23 AM
Gary Coles (International Referrals)
Venture Realty International - Las Vegas, NV
Latin America Real Estate

When I use, Buyer Agency Agreements, I always discuss how I will be paid.

 It is much more common for me to act as a consultant for someone in another country and then I discuss whether I will receive a referral from an agent or whether I will be charging my client a consulting fee and how much it will be.

Nov 15, 2015 01:30 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

For the most part, have not had a problem with Buyer's Agency, and only once did it become a problem and only because they were from a state that usually did not sign these.

Nov 15, 2015 01:11 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

As the author of some of those recent questions  here's what we do.

1. We always use a Buyer Broker Agreement.

2. The amount we stipulate as our minimum compensation is equal to what we offer as co-broke on our listings (the Seller approves that amount).

Nov 15, 2015 09:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

There is no reason not to be upfront in discussing compensation. We should not be ashamed of the fact that we don't work for free. If you go to a lawyer or an accountant or a doctor, they will tell you their fees up front.

Nov 15, 2015 08:18 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Praful. Why would anyone be afraid to share how much they are going to be paid?

Nov 15, 2015 04:41 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I discuss agency and what I offer, they sign something saying they understand. I do not make them sign a BBA, I earn their loyalty and have them sign it at the time they are making an offer.

Nov 15, 2015 02:29 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I do discuss with my buyers how I get paid. I don't charge a success fee. If the situation came up where no commission was being paid on a property, I would have that discussion with my buyers. 

Nov 15, 2015 11:03 AM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

That's part of the first conversations with the client.

Nov 15, 2015 10:21 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Normally my compensation is from the co-broke, but when it's too low, I ask buyers for commission, they have only agreed once. But then they didn't want to see the listing either. 

Nov 15, 2015 09:16 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Most of the time the co-broke is acceptable and I get 95% of my buyers to sign a buyer agency agreement. I cannot think of but maybe one time in 35 years that I was disappointed with the compensation.

Nov 15, 2015 08:56 AM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

This is a very important issue to bring up right away

Nov 15, 2015 08:29 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not sure how anyone can be a successful buyers agent if they are afraid to talk about an exclusive buyers agent agreement. 

Your clients do expect to pay you, and there is no shame in sharing this info with them.

Nov 15, 2015 08:11 AM
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Co-broker commission here is very predictable. I explain that the seller has committed to pay the listing agent and listing agent through the MLS will pay me. Never a problem.

Nov 15, 2015 06:50 AM
Toronto, ON

The Buyer Representation Agreement or Buyer Customer Service Agreement has clauses to deal with the compensation issue.  I explain how the compensation works.

Nov 15, 2015 06:34 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Yes, I do discuss it, and at the end of closing, while we are still in the room by ourselves I show them my check and thank them, because they gave it to me.

Nov 15, 2015 05:23 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Praful Thakkar Buyer Broker Agreements are mandatory in my State. This gives an opportunity to talk about compensation should the seller not pay a fee. It is discussed as part of the BBA.

Nov 15, 2015 03:38 AM
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

I don't look at the Buyer Agency Agreement as 'how I get paid' as much as I look at it as a loyalty agreement that sets the expectations of both parties (myself and the buyer).  While I would like to get $xxxx on every sale, I know that in the long run it all evens out.

Nov 15, 2015 02:45 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

We merely identify that the seller pays us. Amounts should make no difference, however, if asked specifically; we do disclose.

Nov 15, 2015 01:26 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I only charge what is offered as co-op fee.

Nov 15, 2015 08:48 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I don't talk how much I make with buyers unless they ask me how do they pay me.  If this comes up I simply explain how real estate works in NM. 

Nov 15, 2015 08:30 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Praful - I get paid through the co-broke, and my job is to find my clients the best home for them. It has nothing to do with how much money I will make on the transaction.

If the co-broke is virtually nothing, then that is what I will get paid, but when the co-broke is more than a typical percentage (or the listing agent is offering a bonus) I don't complain about that either.

I use buyer broker agreements, but I don't discuss with the buyer how much I SHOULD be paid because it is the selling brokerage that pays me. 

Nov 15, 2015 12:03 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If the situation arises, I will discuss it with my buyers.

Nov 15, 2015 04:13 AM
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

im sure glad we dont have to deal with that much out here...99% of listings are 2.5>3.0 each end. sometimes more. no need for those discussions

Nov 15, 2015 02:59 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Praful Thakkar This is an excellent important question.

Nov 15, 2015 02:43 AM
Roy Kelley
Retired - Gaithersburg, MD

Full disclosure and a complete explanation of the process is a very good policy. Avoiding surprises and unknowns is good for relationships.

Nov 15, 2015 02:24 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

This is not the first topic of conversation as it is more important for me to gain a repor and show value first...

Nov 15, 2015 02:19 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we are listing agents and we always pay the buyer agent.... 

Nov 15, 2015 02:02 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Regardless of the co-op compensation I would never expect a buyer to pay my commission.  I explain that when I go over the buyers rep; however no buyer rep I will not work with them.

Nov 15, 2015 01:46 AM
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

My commission for the most part is co-broke; occasionally with a buyers agreemant part or all may come from the buyer.

#2 Use buyers agreement

#3 It is didcussed twice; once at the first meeting and then when making an offer.

Nov 15, 2015 01:45 AM