Quote:
Originally Posted by Mrs. Robinson
Yes -- there is some confusing and inaccurate information in previous posts.
Although the seller may be paying the entire commission, the listing agent and selling agent do not both work for the seller. In this case, I am speaking about the agent for the buyer. The majority of Realtors are transaction agents as I've mentioned in a prior post.
A true buyer's agent does have a contract which the buyer must agree to and sign. In the case when a Realtor is a buyer's agent under contract, the buyer would be paying their Realtor a commission, not the seller.
Nowhere in any of the above comments, do I see mention of a dual agent and don't know why this was brought up.
The Florida Real Estate Commission (FREC) in Tallahassee can answer anyone's questions regarding real estate in Florida.
(850) 487-1395
|
The buyer may sign a piece of paper with an agent, but, unless the buyer agrees to pay money to the agent that does not come from the seller's listing agreement, it is not an enforceable contract under common law. The listing agreement signed by the seller is the only real contract, and it is the source of all income that the agents involved in the transaction receive. That is why buyer agency agreements are deceptive.