Quote:
Originally Posted by retiredguy123
Apparently, the OP thinks that any commision paid to an agent just reduces the amount of money that goes to the seller. If that is true, then a seller would be foolish to pay any commission. Also, regarding a buyer's agent, as a seller, I would never allow a buyer's agent to receive any money from my side of the settlement statement. If a buyer wants to be represented by an agent, the buyer would need to negotiate and pay their own commission or fee.
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My understanding is that the relationship between the buyer and their Realtor is not formally disclosed to the seller. So your closing statement would show 3% to your listing office the 3% to the selling office.
The Commission Split is based on an agreement between the Realtors, not the sellers.
In our area (Residential Real Estate) I am not aware of any/many Realtors who retain the 'AGENT) relationship.
Changing to a 'TRANSACTION BROKER' allows them to work with buyers and seller at the same time without the burden of laws of agency.