Spam prevention
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No standard commission for me David, though there is a minimum.  Though, it's a secret.  And, if I told you, I'd have to kill you!  

Nov 19, 2014 05:48 AM
Rainmaker
1,572,727
David Saks
Memphis, TN
Broker / Industry Analyst

Okeedokee, Jason. No need to argue, but I'll refer to the fact that a "standard" is a basis for comparison in this case, and since the broker isn't in collusion to control a market with other brokers it's a reference point against which other things can be evaluated by that broker in determining his "normal" commission rate, as you suggest.

And, as you were so quick to point out that the legislative codes had nothing to do with the question, the first example is very easy to understand. It basically says that if you you don't have a contract for a commision you have the right to prove in a courtroom that your services are worth what you claim they're worth.

The second legislative code basically states in language, that anyone with a third grade education or lower could understand, that if the real estate commission attempts to set the commission they'll end up in deep trouble. So if the commission can't establish one why should anyone else be allowed to ?

I thought clues were well laid in #4  #4   that the "original" question is wrought with controversy. Thanks.

Nov 21, 2014 07:59 AM
Rainmaker
1,304,300
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

A brokerage is in fact entitled to set its "normal" commission rate, as long as they don't imply that it's standard for others, which would imply collusion. The stuff you posted has nothing to do with your original question.

Nov 21, 2014 04:29 AM
Rainmaker
1,572,727
David Saks
Memphis, TN
Broker / Industry Analyst

That's right, Angela, although the broker can establish the commission split.

62-13-301 of the TREC adds:

A real estate agent, employed to sell property
without any special contract as to his compensation,
will be entitled to prove and recover
such reasonable commissions as, for similar
services, real estate agents in that particular
locality are, by usage and custom, entitled.
Arrington & Farrar v. Cary, 64 Tenn. 609, 1875
Tenn. LEXIS 139 (1875); Pennsylvania R.R. v.
Naive, 112 Tenn. 239, 79 S.W. 124, 1903 Tenn.
LEXIS 101, 64 L.R.A. 443 (1903).

and

62-13-204. Regulation of fees or commissions. — Nothing herein shall allow the commission to set fees or commissions for real estate contracts or transactions and if the practice is found to be in actual practice in the field, if because of action of the commission, all members of the commission shall forfeit their licenses. [Acts 1973, ch. 181, § 21; T.C.A., § 62-1312.]

Nov 19, 2014 12:30 PM
Rainer
10,293
Angela Foley
Realty Brokerage Solutions - Falls Church, VA

There is no such thing. 

Nov 19, 2014 11:43 AM
Rainmaker
1,572,727
David Saks
Memphis, TN
Broker / Industry Analyst

Gabe...you're a riot !!!

Can I send you a peanut butter and banana sandwich ?

After you finish it you'll tell me !

Nov 19, 2014 06:05 AM
Ambassador
6,362,764
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

nothing standard

 

Jul 28, 2019 12:00 AM
Rainer
279,878
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

I don't think we can dicuss this here.

Apr 09, 2018 11:42 PM
Rainmaker
630,251
Ajay Pandya
e-Merge Real Estate Unlimited - Columbus, OH
Realtor Ajay Pandya

There is no standard commission by the broker.

Sep 04, 2017 09:26 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The one I am comfortable with my clients.

Mar 21, 2017 11:17 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

There isn't one - it's up to us!

Nov 25, 2016 05:56 AM