Quote:
Originally Posted by frayedends
I think you missed a big part of my posts or you just don't understand how this works. And again, maybe different in Massachusetts. The commission paid to the buyer agent is disclosed by the Listing agent in MLS. They have what they call a cooperative agreement. This is common practice here. We are talking about 2 different agents, just to be clear. The seller agent knows they are paying the buyer's agent commission. Of course, this is done to get buyers to view the home.
Let me give you an example of how it works in Massachusetts...
A buyer calls an agent and says I'd like to see 64 Tucson trail. The agent says, okay that is not my listing. I would be acting as your agent and representing you. I can set up a showing for tomorrow at 3 PM. They go to the house, the buyer agent opens it with a lock box code. The seller agent may or may not accompany. The buyer agent signs an agency disclosure with the buyer (or a contract if they want). The buyer agent advises the buyer on making an offer, etc and helps throughout the transaction. The MLS Listing shows a Co-Broker Commission. It literally says "Buyers Agent X%". Generally they all know the co-broke commission already for an area. It's fairly standard but not required to be.
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Yes, it is different in Florida. If it is listed in the contract as allowed by Massachusetts law, there is nothing unethical. Knowing this, I probably will never buy a house in Massachusetts. I am not going to pay someone to do something I can do myself. How hard is it to look at MLS listings to find what you like.