3,350,764
They can ask for whatever they want. Present the offer. Counter the offer or decline the offer. The seller has many choices. It's up to the seller.
-
John Juarez
Fremont, CA
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Inna Ivchenko
Encino, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
1,507,073
So if I'm reading this correctly the situation is seller offering to pass on 2.5% and buyer's agent has a BBA that says buyer to pay the difference between what is offered and 3% (I'm just making up numbers here). They then put in the contract that "buyer's agent commission to be 3% instead of advertised 2.5%".
I don't recall ever seeing this myself, but if it were my sellers and I would counter that out as I'm sure not lowering my commission to cover their BBA. We'd respond with something to the effect of "Buyer Agent's commission agreement is between the listing broker and the buyer agent's broker. Listing Broker will not pay any buyer commission beyond what is stated in the MLS. Should any additional consideration be desired by the buyer's agent, that will be between them and their client."
If the buyer's agent has a problem with that and wants to kill the deal over it, that's fine.
-
Inna Ivchenko
Encino, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Bob "RealMan" Timm
Minot, ND
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kathleen Daniels, Prob...
San Jose, CA
4,584,596
Any "terms" can be a part of a purchase agreement. The seller should be presented with the offer and respond appropriately.
-
John Pusa
Glendale, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Kevin J. May
Hobe Sound, FL
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Eve Alexander
Tampa, FL
5,258,996
I'm with Michael Jacobs & Mike & Eve Alexander on this. In fact, I represented a buyer who has asked for this as recently as last month. Seller had no idea that his LA was offering less than half (in MLS) either!
The Contract is, indeed, between the buyer and the seller and it is the sellers' prerogative to request whatever they wish in the Offer.
-
John Pusa
Glendale, CA
-
Eve Alexander
Tampa, FL
-
Inna Ivchenko
Encino, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
613,494
Here we go again...
Does NO ONE READ THE INTERPRETATION of the code of ethics???
1. The BA can ask the seller to pay them a commission that is different from the offer of the MLS. The buyer asks for it in the offer and it has nothing to do with the co-op fee.
2. What the BA cannot do is ask that the LA reduce their commission.
3. Contracts are between the buyer and the seller and the buyer can ask for a new roof or more commission for their BA.
4. Any LA that has a problem with that may be violating the code of ethics by interfering in a contract.
Anyone that wants legal NAR documentation on this, ask me, I will e-mail it to you.
Eve
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Kat Palmiotti
Kalispell, MT
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Fred Griffin Florida R...
Tallahassee, FL
87,920
Everything is negotiable.
-
Inna Ivchenko
Encino, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
3,168,284
It's not really an agent's call. If you get an offer that changes what the MLS offers you present the offer and let your seller make a decision.
-
Inna Ivchenko
Encino, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
2,684,769
Legit in Florida. Present the offer.
MLS is just an offer of shared or paid compentation to other real estate brokers for bringing an offer that closes... it means nothing between Buyer and Seller.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Sam Shueh
San Jose, CA
-
Eve Alexander
Tampa, FL
5,117,178
I've not seen this. Commissions may not be paid to unlicensed individuals. Are you sure that buyers brokers are not requesting a credit to the buyers. Regardless of what the commission is in MLS the agreement between buyer and their broker is their agreement.
Also it should be noted that agents are not parties to a purchase/sale contract and they are usually silent on commissions.
-
Inna Ivchenko
Encino, CA
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Roy Kelley
Gaithersburg, MD
6,426,255
Well if the sellers agent is stiffing the buyers agent then somebody has to pay.
Was looking at some land listings a few days ago, and though this agent was charging his sellers 10% was only offering the buyers agent 2%.
If I was the buyer then i would want to even this up so that my agent was getting a fair deal.
-
Bob Crane
Stevens Point, WI
-
Fred Griffin Florida R...
Tallahassee, FL
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
2,403,205
It's very rare here but I have seen it and I think I may have even written one in the last couple of decades. If I did it was where I converted a FSBO and they were willing to pay X% but not 2X%.
-
Michael Jacobs
Pasadena, CA
-
John Pusa
Glendale, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
5,063,430
Haven't seen this but it may be happening. Seller can decide how to proceed.
-
Debe Maxwell, CRS
Charlotte, NC
-
Eve Alexander
Tampa, FL
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,319,873
That is perfectly fine - the sellers need to understand this.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
3,988,013
We have separate forms for the commission. It is not proper protocol to include it in the seller/buyer purchase agreement. They are not part of the compensation agreement.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
3,986,308
I have seen where an agent wanted more commission than I was offereing. Told them go to their buyer. should have dealt with the issue with a buyer rep contract
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
4,182,719
Many great responses.
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
1,153,794
There's been a lot of talk about redaction lately. That's what I think about this practice.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
5,246,568
Counter with the commission to be paid is as stated and the difference is none of my business how it is paid!
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
519,324
In my MLS if the commission adjustment is higher than what is posted, unless the buyer's agent has a buyer's agency agreement calling for that full percentage to be paid, this would be a violation.
If they have the buyer's agency agreement, asking the seller to pay just removes some awkwardness at closing and creates a slight adjustment to the seller's net sheet.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
5,773,392
What Ryan Huggins - Thousand Oaks, CA said. A
-
Michael Jacobs
Pasadena, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Bob "RealMan" Timm
Minot, ND
556,536
Not legal in nc.
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
7,871,872
You just have to deal with these offers. The commission is what is offered by the seller and the listing agent.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,434,177
I have not seen it.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,800,132
This should not be in the offer and should be negotiated prior to the offer.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
3,416,038
Here in NH commission is not suppose to be in a purchase contract. Most often done on an addendum. The good agents ask up front before submitting an offer. As a listing agent i see many buyer agents do it though where my seller says we will accept the price, but not paying anything extra. One yesterday raised the price to cover the buyer agent fee where the buyer was offended. They then told the buyer now you know how we feel.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
3,071,589
Kathleen Daniels nailed this one!
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
2,195,834
Sounds like a COE violation ! See SOP 16-16
-
Michael Jacobs
Pasadena, CA
-
Michael J. Perry
Lancaster, PA
1,625,651
I've never seen one.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
1,242,204
What state and where is the offer for? There may be another way check with your broker.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
5,583,328
buyer agents get paid what's in MLS by my team members.... we offer them half of the total commission...we are certainly not going to pay them more!!!
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
2,071,025
1,598,452
5,879,826
Our commission requires the verbiage in additional provisions, and must be requested by the Buyer. We have discount brokers here that offer minimal commission.
1,326,624
If the request is that the seller credit the buyer an amount to satisfy the buyer’s obligation to the buyer’s agent, it can be a credit and nothing is amiss. Of course, the seller does not have to agree. Agreement by the seller would be tantamount to the seller increasing the commission paid but directly indirectly to the BB and not through the listing agent as is normally done. I believe the lender would also have to be on board with the arrangement.
If the request is for the listing agent to pay anything to the buyer or buyer’s agent that is not spelled our mls offer of compensation, the request is out of line and may be a violation of mls rules.
1,712,876