1,543,843
Nothing to debate-The commission is non-negotiable once published in the MLS. My thought is simple: It's violating board rules (in CA) to do so and is not a legitimate counter.
-
J.R. Schloemer
Louisville, KY
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Mimi Foster
Colorado Springs, CO
-
Doug Dawes
Topsfield, MA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Steffy Hristova
Tempe, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kasey & John Boles
Boise, ID
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Barbara Todaro
Franklin, MA
-
Thomas J. Nelson, REAL...
La Jolla, CA
2,684,109
Buyers and Sellers can ask for whatever they want.
But if the listing Broker offers you a coop fee in the MLS listing, that Listing Broker is legally bound to pay it to you at closing. Otherwise they are in breach of the MLS (the MLS is a contractual agreement between Broker members of that MLS).
On the other hand, if the MLS listing offers "zero" coop fees to Transaction Brokers, Buyer Brokers, or Non-Rep Brokers, then the Listing Broker isn't legally obligated to pay a Buyer's Broker anything.
*This sounds like some old-school agent who never accepted the idea of Buyer Represenation.
-
Brenda Mayette
Glenville, NY
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Eve Alexander
Tampa, FL
-
Steffy Hristova
Tempe, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kasey & John Boles
Boise, ID
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
289,607
Correct me if i am Wrong....but whatever is in the MLS is the commission Period...all offer of changing commission have to be discussed before a Offer is submitted...(at least in Pa. it is) so even if the counter offer wants buyer to pay at closing whatever is listed in the mls at time of the offer is what is paid...from the seller side..
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob "RealMan" Timm
Minot, ND
-
Joseph Domino 480-390-...
Scottsdale, AZ
-
Candice A. Donofrio
Fort Mohave, AZ
-
Lyn Sims
Schaumburg, IL
-
Kasey & John Boles
Boise, ID
-
Kathleen Daniels, Prob...
San Jose, CA
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
5,104,931
That's a bit odd, since in mls it states how much commission will be paid to the buyer's agent. In reality, seller pays the commission, but as it's typically factored into the final price, it is the buyer who is paying the commission through the purchase price to some degree. Without a commission, seller might sell the home for less.
-
Richard Weeks
Dallas, TX
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Amanda Christiansen
Fort Wayne, IN
679,404
All things are "negotiable" in real estate ... so I would first contact the Listing Agent to get more information and understanding ... and then you can always counter back. Best Wishes on this one Peter Mohylsky
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Fred Griffin Florida R...
Tallahassee, FL
-
Kathleen Daniels, Prob...
San Jose, CA
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
1,209,215
Why let it bother you? If it's on a counter offer the selling agent isn't insisting, but asking the buyer to pay the buyer's agent commission.
Obviously you have to submit the counter to your buyer, but maybe a conversation with the seller's agent asking for an explanation of what the story is with their odd request.
It sounds to me like the seller may be tighter on funds than they thought and their agent threw out this idea. I'd get clear on what is really going on and figure out a different way to get this through. It's all a numbers game and there are many solutions to each problem.
Best of luck!
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kathleen Daniels, Prob...
San Jose, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Nina Hollander, Broker
Charlotte, NC
6,393,609
Was the counter from the seller or the sellers agent?
-
J.R. Schloemer
Louisville, KY
-
Bob Crane
Stevens Point, WI
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Debe Maxwell, CRS
Charlotte, NC
660,906
As Anna Banana Kruchten CRB, CRS 602-380-4886 stated it's a moot point. Buyer Broker commission cannot be in the contract because the Buyer Broker is not a party of the contract. The agreement must be separate and between the two brokerages, with signatures by the DBs.
-
Dana Hollish Hill
Bethesda, MD
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Debe Maxwell, CRS
Charlotte, NC
2,781,283
Greed....
-
Debe Maxwell, CRS
Charlotte, NC
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
5,583,278
the listing agent needs to pay you the percentage that's stated in MLS.... the listing agent does not dictate who pays you.... the seller pays the listing office and the listing office pays you whatever fee was agreed upon by the seller and listing agent....
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kasey & John Boles
Boise, ID
3,390
I would take a closer look at your MLS rules. A better ask might be for the buyer to increase their offer to cover the co-broke.
Interesting scenario, Thanks!
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Joseph Domino 480-390-...
Scottsdale, AZ
-
Steve Booth
Chandler, AZ
378,517
depends on what the MLS says.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
564,494
"Interesting twist" indeed ...
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
343,050
The listing agreement and MLS offering should have that provision. Maybe the seller feels that the offer is too low and wants to shift the commission onto the buyer.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Diana Dahlberg
Pleasant Prairie, WI
7,836,431
Submit your counter offer.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Diana Dahlberg
Pleasant Prairie, WI
5,230,142
The fee is due from the listing broker, as stated in MLS. (I hope you printed the MLS for proof - in fact, I do this every single time, not just when the commission is in question).
I recently represented a federal court judge who had an experience with a seller who tried to negotiate commission terms. YES, either party can negotiate those terms but, regardless of that, the fact remains that the listing broker OWES whatever is stated in MLS. Period.
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kasey & John Boles
Boise, ID
2,220,654
If they are offering a commission in MLS, the seller will be paying the commission advertised. End of story.
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,587,960
Moot point. If it was offered in MLS it is what is . Interesting that an agent would even think this would fly.....
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Steffy Hristova
Tempe, AZ
-
Bob "RealMan" Timm
Minot, ND
1,311,397
The buyer can pay his agent but the mls says the listing agent has to pay the buyer's agent. If you cannot utilize a buyer/broker agreement to suit this situation, it is possible to construct an agreement to accomplish what the seller wants in order to avoid misunderstanding and disagreement going forward. Consult your broker or attorney for suitable wordsmithing.
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
3,416,038
Once published in MLS, the listing agent can not just withdraw it. I have had this brought up but all have failed. When i am on the listing side, i discuss this with sellers who ask and simply increase the price to the buyer which covers the buyer agent fee.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Joseph Domino 480-390-...
Scottsdale, AZ
1,844,301
What does the listing sheet say? Can't go back on that now. It is not a twist - it's an agent that doesn't know her job.
I can't believe some of these answers! Better bone up with your broker on things like this.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
911,338
Can't do it. Counter that sellers will pay buyers agent 6%.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
509,449
Is this a multiple offer situation? It all boils down to whether buyer really wants this home. In a mutiple offer situation I can see how the seller pushes everything to the buyer. Buyer doesn't have to agree to this.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
711,852
Very interesting. In our MLS, the listing brokerage is obligated to pay the advertised buyer's agent commission. If we have a contradictory agreement shown in the purchase agreement, that would take precedence.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Doug Dawes
Topsfield, MA
4,572,439
Anyone can ask for anything but the likelihood of success for the offeror may be subject of additional discussion.
-
Steffy Hristova
Tempe, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
809,258
What does the MLS co-op fee state and what are your MLS rules on cooperation? -Kasey
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
921,504
As much as your argument is sound the reality is when BUYER agents and franchises and brokers started offering REBATES the 'idea of seller paying that cost' was upended.
The seller DOES want to pay the agents involved, HOME SELLER/OWNERS DO NOT WANT TO PAY THE BUYER.
Since the long standing tradition has already been broken, buyers and sellers should pay directly the agent they hire. Now that what I would call TRANSPARENT!
Now about those brokers......
-
Debe Maxwell, CRS
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
3,626,530
What negotiating? The commission has to be honored via MLS listing.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
4,319,419
Peter Mohylsky - not something that I'd like or digest. Not sure though what action will I take against this agent.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
1,196,798
The seller's agent can request what they want. What does the MLS listing say the compensation is?
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
3,988,007
The cooperative agreement thorugh MLS's is a compensation agreement to pay XXX to an agent for a successful sale and the negotiations on commission must be done before showing and before an offer is presented (COE).
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
1,503,008
I had a buyer's agent specify a commission rate to them in a contract recently which is illegal in California... in the offer form. This can be done with the cooperating broker compensation form, but it's outside of the purchase contract and needs to be done before the offer is sent in.
-
Debe Maxwell, CRS
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
1,598,452
Interesting.
What about the price? Did they deduct commission from the price?
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
2,390,630
It happens. I've done it myself Peter Mohylsky . It all depends on the offer in whole.
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
716,049
Interesting. But the seller agent can't make that request (in AZ). In fact, it's in violation of several rules, of which many carry consequences and some fines, even perhaps a suspension of his/her license. For starters,
1. The co-broke in the MLS is a blanket contract which obligates payment by the listing brokerage to pay the commission to the selling brokerage as it reads in the MLS;
2. It is a rule by the Dept of real estate that contracts and commissions cannot be negotiated in the same breadth, and that one is not realted to the other;
3. There is a listing agreement (read legal contract) between the listing agent brokerage obligating the seller to pay not only the listing brokerage but also the selling brokerage.
The listing agent is now in big trouble over this. I would report this with evidence of the wrongdoing, and hopefully put his/her license in jeopardy.
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
5,772,575
Peter,
We agree with Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D . Wishing you all the best. A
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
152,204
Peter you are incensed by the idea that the seller would ask the buyer to pay for the commission because our entire business is build around the idea that the seller pays the commission....I once had a listing were the BUYER offered to pay all the closing cost just so he can get the property. Of course, there were 40 offers so the seller had lots to choose from. The seller accepted the offer that netted her the most, obviously. I've always have operated on the premise that EVERYTHING in real estate IS negotiable. I don't know what area you are in but if this was my deal, I would just ask my client and let them decided if they what to pay my commission. I see nothing wrong by this, unless your buyer made a full-price offer with no contingencies, then that is a whole different story.
-
Debe Maxwell, CRS
Charlotte, NC
2,071,025
Interesting situation. Some informaion is missing.
-
Debe Maxwell, CRS
Charlotte, NC
427,267
Technically speaking the offer/counteroffer are between the seller and the buyer. The agents have no business with the this contract. The contract between the seller and the LA is where the fee was already established at the time of contract acceptance & agreement. I believe this needs an attorney to review and advise on proceeding, especially when you get to the closing table and find out the LA is receiving x+1.
-
Debe Maxwell, CRS
Charlotte, NC
450,126
It's a violation of NAR's code of ethics for the parties of the contract (buyer and seller) to write in anything about how outside parties will work together.
And once a property is listed in the MLS with a co-op fee, that is the fee. If they try to change it after you submit the offer, have your broker call the other broker. Not honoring the co-op fee in the MLS is grounds for that brokerage to be removed from the MLS.
-
Debe Maxwell, CRS
Charlotte, NC
1,712,676
3,345,091
I would be digging deep into why when the MLS offers a co-broke. The more information I have the better I can inform and help my client.
-
Debe Maxwell, CRS
Charlotte, NC
1,556,633
There is a new brokerage in town that is trying this. I totally disagree with it, as most buyers need the money for the down (or at least prefer to use their money this way). Everybody tried to keep reinventing the wheel. The new beokerage is run by a non-licensee as President and CIO is also a non-licensee. They don't post on the MLS, but I get a tone of their ads on FB posts. They do have a broker of record, but the main brains behind it are not licensees. They just claim that they paid too much in commissions when they recently sold their house so they want a "better" option for home sellers.
-
Debe Maxwell, CRS
Charlotte, NC
3,071,489
5,217,359
Not in any MLS I have belonged to! Raise the price to cover whatever you need to meet the net!
-
Debe Maxwell, CRS
Charlotte, NC
577,750
There is no negotiation required. If the MLS listing says the cooperating agent gets x.x% commission, then the brokerage has to honour that. All parties must sign a Confirmation of Cooperation and Representation here in the Toronto area. It discloses who is representing whom, that the listing agent is represneting the Seller, and the Buyer's agent is representing the Buy and will get paid x.x% from the Listing Brokerage.
-
Debe Maxwell, CRS
Charlotte, NC
4,883,260
In life it is not what you deserve, it's what you negotiate. Maybe the business should be built around the idea that the buyer will pay what the seller list the house for?
-
Debe Maxwell, CRS
Charlotte, NC
4,800,082
I think this could be questioned for legality.
-
Debe Maxwell, CRS
Charlotte, NC
5,868,565
We have seen some pretty creative ways to "win the bid", but not this one.
3,986,258
4,434,127
1,197,545
Thanks all for the opinions. It is becoming a moot point now, my buyer has gone cold and won't answer the phone. I agree. The MLS is the bible here and the seller owes as he agreed to pay.
4,936,716