Quote:
Originally Posted by candacev
Agents will be able to have open houses and people will be able to tour. However, once the discussion starts about price or the negotiating, that buyer will have to sign a Buyer's Broker agreement. Example: My listing agreement with the seller as a transaction broker in Florida is x%. The seller agrees that if another agent brings a buyer I am able to split that compensation however the seller and I agree to in our listing agreement. The buyer's brokerage agreement in that case would say lets say whatever 1/2 of what that x% is. The buyer's brokerage agreement states that we are transaction brokers as well. I work for the transaction to make the transaction work for both parties. That is the goal. Yes, I would receive the total x% because I am not splitting it with another broker since the buyer was procured from the open house I am hosting. The buyer would not be paying it, because I am disclosing to that buyer that the seller has agreed in our listing agreement. This is the same way it has worked for a very long time. It really is not changing. It is just being more transparent.
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Huh? If I go to an open house, and I make a cash offer to buy it, the only thing I will sign is a sales contract to buy the house for that price. Period. I don't care what the seller and the agent agree to between themselves.