Quote:
Originally Posted by gerryann
I've used a realtor to help me find a property and when they did, they received their full commission (from the seller) if it was a property that they were contracted to sell.
If it was another realtors listing, they would receive a co-broke agreed amount. Nothing ever came out of my pocket to a realtor.
Is this a particular state broker law? If so, what state?
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What you are saying sounds correct to me.
However, if your Realtor was paid commission from the seller,
she was not acting as a buyer's agent.
The Realtor you used handled the sale as a transaction agent.
If she sold her own listing she would get her split from the broker on both sides --
the listing side and the selling side.
If she sold another agents listing,
the commission would be split according to the terms of the listing.
A "true" buyer's agent is paid by the buyer.
Their fiduciary is to the buyer. That is the difference.
They cannot collect any commission from the seller.
In other words, they can't have it both ways!