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.
|
Wait. Let me get this straight. If I make a cash offer without a buyer agent then I am forced to sign a contract with you, the seller agent, as my buyer agent? Are you saying that no home can be closed without both seller and buyer agent contracts?
The work you provide me is minimal and you get the entire commission known as double dipping?
Here is my solution. If I were selling my home using the conventional seller/broker split at 5% (2.5 each),
if the buyer initiated the purchase without a buyer agent, then your commission reverts to 2.5% and I get the half you did nothing to earn.
Or, I would hire a buyer agent that exclusively represents me and they would get the 2.5.
Another solution is to ban transactional realtor status.