Quote:
Originally Posted by retiredguy123
Your first paragraph is totally false. The listing contract is between the listing broker and the seller. There is no buyer agent mentioned in the contract. The buyer has absolutely no contractual relationship with the broker. When you go to the closing, the entire commission is listed on the seller's side of the settlement statement and paid for by the seller. The buyer pays nothing. The buyer has no legal recourse for breach of the listing contract because the buyer never signed the contract and never agreed to pay any of the commission. That is basic contract law.
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I am not wrong. I don't think you understood what I was saying. The listing contract is between the seller and the listing agent, correct. But the listing agent posts the buyer's commision (co-broke) in MLS. The buyer's agent looks up a listing and knows right away what their portion of the commission will be. The buyer's agent portion is in the closing disclosure. Technically I guess you could argue that the seller/listing agent is getting all the commission and paying the buyer's agent. But again, semantics.