Wanted Looking for Realtor

[Krystal Lambing]

Scott VanFossen 570-592-7223. He’s with Keller Williams Success Realty and member of CPAR

 

[Dawn D]

Find a realtor who splits their commissions 50/50 with the buyers agent. Anything less is greed.

I thought that was the norm, no?

 

[Dawn D]

Scott VanFossen 570-592-7223. He’s with Keller Williams Success Realty and member of CPAR

Thank you

 

[LarsAtTheBeach]

I thought that was the norm, no?

It is the custom.
However, there can be other circumstances that can change that, and it not be greed.
In some cases the listing agent will also offer more to a cooperating broker than is kept with the listing broker.

 

[Poppaj]

I thought that was the norm, no?

It should be. Not sure when it started, but round here 60/40 was common for years unless you had a cooperating agreement between brokerages. Now you will see on a 6% commission the buyer’s agent being offered 2, 2.2, and 2.5% and the selling broker wanting a transaction fee on top of that.
Some brokerages offer a measly 1% to a no brokerage relationship agent.
I have always been curious if this is fully explained to the sellers.

 

[Mike Jones]

It should be. Not sure when it started, but round here 60/40 was common for years unless you had a cooperating agreement between brokerages. Now you will see on a 6% commission the buyer’s agent being offered 2, 2.2, and 2.5% and the selling broker wanting a transaction fee on top of that.
Some brokerages offer a measly 1% to a no brokerage relationship agent.
I have always been curious if this is fully explained to the sellers.

I would think it would have to be disclosed or invite a lawsuit no? Fiduciary and all ...

 

[LarsAtTheBeach]

It should be. Not sure when it started, but round here 60/40 was common for years unless you had a cooperating agreement between brokerages. Now you will see on a 6% commission the buyer’s agent being offered 2, 2.2, and 2.5% and the selling broker wanting a transaction fee on top of that.
Some brokerages offer a measly 1% to a no brokerage relationship agent.
I have always been curious if this is fully explained to the sellers.

That 60/40% was an old Ft Walton thing that spread to most of Okaloosa & Walton. It's pretty much extinct.
Very few (if any) 6% residential listings in this area. Even vacant lots are 4-5%. Some commercial is still 6%, but that too is becoming rare.
I have never seen a transaction fee attached to a listing brokers commission.
If an agent has no brokerage relationship with their buyer, it usually means they are just along for the ride and do not intend to do any of the work. But that is very rare.
Of course all of this is in writing as part of the seller's listing agreement with the brokerage. And the seller is in control of the terms of the agreement, including co-brokerage.

 

[LarsAtTheBeach]

I would think it would have to be disclosed or invite a lawsuit no? Fiduciary and all ...

All in writing as part of the listing agreement between the seller and the listing broker.

 

[Poppaj]

All in writing as part of the listing agreement between the seller and the listing broker.

Right, but not to the buyer’s agent. Before showing a property the first question to the listing agent should always be “Do you split your commissions 50/50?”

 

[Poppaj]

That 60/40% was an old Ft Walton thing that spread to most of Okaloosa & Walton. It's pretty much extinct.
Very few (if any) 6% residential listings in this area. Even vacant lots are 4-5%. Some commercial is still 6%, but that too is becoming rare.
I have never seen a transaction fee attached to a listing brokers commission.
If an agent has no brokerage relationship with their buyer, it usually means they are just along for the ride and do not intend to do any of the work. But that is very rare.
Of course all of this is in writing as part of the seller's listing agreement with the brokerage. And the seller is in control of the terms of the agreement, including co-brokerage.

Fiduciary duty is to sell the home. Who cares who brings the buyer? Do agents tell the seller there may be agents with qualified buyers for their home, but you feel they don’t deserve equal compensation because they are just “along for the ride?”
That sounds like your duties are to yourself.