too many agents without a signed written agreement have shown homes, spent money on fuel and lost out on dinner with their family so that a person that's just looking at homes to see what's out there. Also, a client without a signed agreement cannot rely on the agent to continue to represent them or give them property advice. They're just acquaintances without a written agreement. There are typically three ways a Realtor/real estate agent for buyers are paid. Three options
1. Single party (home) agreement 2. A Non exclusive buyer agreement. 3. Exclusive buyer representation agreement.
Buyer's Agent Compensation:
(1) The last 30 years or so the Owner/Seller of the home paid the Buyer's Agent a percentage of the total sale (commission fee i.e. 1.5%, 2%, 2.5%, 3.25%) to bring them a willing, able, and qualified buyer interested in buying their home. (2) Recently, some large national brokerages were sued for setting commission fees that might influence what homes a buyer was shown or not shown. Possibly unfairly inflating the prices of homes in order to accommodate an agent's commission. As an example, if the brokerage set the commissions for the transaction for 6% the listing agent might decide that the home "sells itself ", or will be easy to sell so they offer the buyer's agent only 1 or 2% of the sales price and they keep the rest. A home that is hard to sell might be offered a buyer's agent commission of 3 or 4% theorizing that agents would be more likely to suggest that home to their buyers over other properties with lower commission splits. (3)A Buyer can pay the Buyer's Agent directly. Much like a CPA, Lawyer, Physician, Financial Advisor, the client pays the professional a fee for their advice, access to their knowledge,
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