2,458,623
A buyer can include a request for different commission amount as part of the offer/negotiation process.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Debbie Gartner
White Plains, NY
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Debbie Gartner
White Plains, NY
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Michael Jacobs
Pasadena, CA
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Dorie Dillard Austin TX
Austin, TX
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Eve Alexander
Tampa, FL
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Wayne Zuhl
Cranford, NJ
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Susan Haughton
Alexandria, VA
1,057,374
No. The co-broke is what it is. If you want more money, get it from your client!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Debbie Gartner
White Plains, NY
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Dorie Dillard Austin TX
Austin, TX
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Kasey & John Boles
Boise, ID
613,494
First of all, I think that most responding, need to read the code of ethics particularly the interpertation of Case #16-17 Buyer conditions purchase offer in seller agreement to pay buyer agents fee. The case was adopted as case #21-18 in 1990...and later transferred to article 16 as case #16-12 in 1994. That is more than 20 years ago!!!!! ...and it has not changed.
Here is the correct answer in simple language...
What the buyers agent cannot do is go directly to the seller and they also cannot try to reduce the listing agents commission. They cannot change the listing agreement between the seller and listing agent JUST LIKE the listing agent cannot dictate any change in agreement between the buyer and buyers agent.
What the Buyers agent can do is:
1. Ask the listing agent for more commission.
2. Have the buyer include more commission or all the commission for the BA in their offer to the seller. The buyer can ask for a new roof, closing costs, new landscape, a gift card for their kids, and commission for their buyers agent. It is all part of negotiations like Kat Palmiotti stated. What I find most amazing is that Kat who looks too young to be in this business for a century has the correct answer. The rest need to get educated.
For decades, Exclusive buyers agents were offered "O" for a co-op fee so all across the USA commission was put in the offer by the buyer to the seller. On occasion, I still do it and always do it on a FSBO offer.
Eve
PS: BTW if anyone wants additional legal documentation from NAR relating to this subject, please send me a private e-mail.
In addition, I also have documentation that it might be a violation of the code of ethics for any listing agent to try and interefere in a buyer agents request for commission.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Debbie Gartner
White Plains, NY
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Michael Jacobs
Pasadena, CA
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Wayne Zuhl
Cranford, NJ
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Kat Palmiotti
Kalispell, MT
5,244,211
If they are asking the seller directly, a call to their broker is in order. Not to mention the possibility of tortious interference of my listing contract to get his/her attention or a formal complaint to the Board!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Susan Haughton
Alexandria, VA
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Gloria Valvasori, Accr...
Mississauga, ON
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Nina Hollander, Broker
Charlotte, NC
809,258
The co-op fee is what it is. It is not the buyer agent's place to ask for more. They may have a buyer rep agreement that states a certain amount owed to them and if the co-op fee does not cover that the buyer could owe the additional amount or they may be able to structure the offer to ask for seller concessions and paying buyer closing costs which include additional commission to the buyer agent but that is up to the buyer to request as part of the offer which obviously nets the seller less, and up to the seller if they want to agree to buyer requested concessions. The buyer agent is not a party to the listing agreement OR the purchase and sale agreement. He/she is only party to the buyer rep agreement if one exists and they have to deal with the terms of that agreement and not the others. -Kasey
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Debbie Gartner
White Plains, NY
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Nina Hollander, Broker
Charlotte, NC
5,032,294
I'm with Kat Palmiotti ..especially if the co-broker commission is less than standard.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Kat Palmiotti
Kalispell, MT
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Debe Maxwell, CRS
Charlotte, NC
1,390,113
I'm not an attorney. I would have the buyer agent communicate that a request like that could come from the buyer's attorney and be an ammendment to the contract.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Eve Alexander
Tampa, FL
5,772,593
Exactly what Candice A. Donofrio said. We have never encountered that. A
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
7,869,527
Tell them to include that increase in their offer if there buyer wants to have that as a condition of the sale.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,712,876
An increase in price if the home will appraise.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
5,062,675
I'm with Kathleen Daniels on this. Hopefully that request is part of the offer and not a direct request to the seller!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
3,350,439
Rarely am I speechless ... I am sitting here looking at my computer screen with my mouth slightly open ... more coffee please!
Okay ... while I cannot get into specifics about the commission ... I can say that I personally never take a listing that offers below a certain percentage. That percentage is very common in my market. So, if the agent was asking the seller for more ... I'd say, present your clients offer with a cover letter to the seller stating your request for MORE $$$. If your clients offer is contingent upon the seller agreeing to pay more ... please state that as well. I will present to the seller and get the sellers response back to you within 24 hours.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Lyn Sims
Schaumburg, IL
5,115,607
Do you mean they've approached the seller directly. What a big no-no. I'd be having a "ome to Jesus" chat with that agent and depending on how egregious the situation a talk with her broker.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
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Lyn Sims
Schaumburg, IL
2,684,769
Nothing in the law prevents a licensed real estate broker from asking anyone to increase their commission or pay their fees. If you (the selling agent or broker) have a fiduciary with the Seller, you must make your Seller aware of this request.
See Mike & Eve Alexander's answer and sub-comments to this question for an excellent elaboration on this topic.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Kat Palmiotti
Kalispell, MT
1,617,916
real estate is negotiable
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Tony and Suzanne Marri...
Scottsdale, AZ
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Eve Alexander
Tampa, FL
4,583,759
Nearly everything is negotiable and anyone can ask for anything. Getting "it" whatever "it" is depends on the situation. As a listing agent, we represent the Seller but are not the Seller.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Eve Alexander
Tampa, FL
5,257,097
WHAT?! OMG, exactly what Corinne Guest, Managing Broker said!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
6,422,994
I saw one on fb a month ago who wrote into the offer that the seller was to provide an extra percent to the selling agent at closing.
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Bob Crane
Stevens Point, WI
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Tony and Suzanne Marri...
Scottsdale, AZ
1,554,357
LOL "Go study the MLS rule book!"
That ain't happening here baby...we gots rules fool.
T R A N S A C T I O N A L gets a check.
RELATIONAL builds a career. How about being referral worthy of your client and go make many commissions.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
4,272,934
In Washington state you can do it if you have a signed buyer broker agreement. (I've never done it)
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
3,986,308
The buyers agent should not be talking to the seller
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
2,402,108
I just responded to another question saying that in our MLS I have not even heard of agents cursing each other BUT this may call for a "Bite Me".
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
3,988,013
I respond what the offered commission is and that is what will be paid.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
5,583,328
I can't share those thoughts in writing on this site....but it would be very powerful.... actually, no one would do that to one of our sellers, if they knew us!!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
716,452
The advertised commission has already been negotiated between the listing agent and their client. For the buyer's agent to try to interfer with this is a violation of the code of ethics. The buyer's agent needs an education and should be referred back to their managing broker.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
2,221,950
I will ask the seller.
You can always ask; you may not receive.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Anthony Acosta - ALLAT...
Atlanta, GA
1,728,656
I call that a violation of the agreement that listing agent has with his seller. Tell the buyers agent to jump off the next cliff and perhaps report him.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
509,449
I've seen more listings offering 2 or 2.5% to buyer's agent now. The agent will need to ask his/her buyer to make the difference if their agreement is 3%.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
1,153,794
An action like that could easily exclude them from showing any of my listings for life. Need more money? Talk to your Buyer!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
1,457,869
When I stopped laughing I'd tell them to speak to their Buyer!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
577,750
What Candice A. Donofrio said, and also what Wayne Martin said!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
921,504
Actually, the buyer agent should be advising the seller, IN WRITING, that the compensation being deferred to the buyer makes the house 'uncompetitive' and this buyer will find a 'conforming' listing.
Of course if the buyer agent works for a 'blue' company, they are agressive in meeting the 'office compensation' goals and the greed associated with it.
By putting it in writing the listing agents gets to 'dance' because of their compensation strategy or can say "I told you so" if the seller is trying to save too much money or the 'go pound sand' response to the greedy.
IF both agents are a fry short of a happy meal, they will actually get into the 'Repsonse/reaction' trap.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
1,525,616
Candice A. Donofrio, Corinne Guest, Managing Broker and Nina Hollander gave you some good answers.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Nina Hollander, Broker
Charlotte, NC
1,466,257
Tony and Suzanne Marriott, Associate Brokers You mean you didn't have your buyer sign a BBA so your total fee would be covered? Shame on you!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Kasey & John Boles
Boise, ID
1,847,581
I'd ask the seller, explain the situation & see what they say. I'm sure that it will become more common place. Usually the seller says 'tell them to take a hike'.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Candice A. Donofrio
Fort Mohave, AZ
5,879,115
We have some discount brokers, and if our clients instruct us, we can ask. Sometimes they do increase it.
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Tony and Suzanne Marri...
Scottsdale, AZ
1,506,623
So long as the buyer pays it.
Example: Mr./Ms./Mrs. Buyer's agent, let's agree on a price then if you want additional commission get your buyer to add it to the agreed upon price and anything over the agreed upon price is yours. Of course, if the seller has to give any concessions, it will come out of your commission first before the price.
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Tony and Suzanne Marri...
Scottsdale, AZ
4,800,132
Not appropriate. The agent can ask his buyer for a commission.
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Tony and Suzanne Marri...
Scottsdale, AZ
4,434,177
4,319,773
Tony and Suzanne Marriott, Associate Brokers - well, they cannot ask the seller - unless they are sending the offer with what they expect!
And the sellers can decide on what they want to do.
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Tony and Suzanne Marri...
Scottsdale, AZ
1,625,053
Well, anyone can try to negotiate anything. If his client on board and you do not have any better offer, why not to deliver seller his request?
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Tony and Suzanne Marri...
Scottsdale, AZ
3,590,091
991,652
How does the agent even get to the seller? We don't share that information here
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Tony and Suzanne Marri...
Scottsdale, AZ
2,785,276
We would dialog...if the basis is sound, I want to know about it
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Tony and Suzanne Marri...
Scottsdale, AZ
1,513,143
It must be done before requesting a showing here that the buyer's agent will be asking for a larger split than what is posted in the MLS; in this area.
Once a showing has been requested it is whatever is posted.
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Tony and Suzanne Marri...
Scottsdale, AZ
3,416,038
I always let them know the fee is what it is in MLS, i also speak to my seller who can make the final decision.
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Tony and Suzanne Marri...
Scottsdale, AZ
1,242,104
Often it is split between two agents. The sellers want to get the house sold often as little as possible. We have seen "0, $500, or 1%" here. Last one my buyer has to pay 5% hammering fee.
I think the days that buyer need to pay commission for service is just at kitty corner. It has been a common practice for ages elsewhere. In a seller market that makes sense.
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Tony and Suzanne Marri...
Scottsdale, AZ
1,980
You Need a Buyer’s Agent who is experienced and Agent should be actively finding you homes, keep you informed of the process, answering all of your question.
4,964,712