Click Here for Some Helpful Buyer Information


Attention Real Estate Buyers!

Commissions that are negotiated with the Sellers of real property, when a property is listed, unless otherwise written in the initial commission agreement, is not a negotiation chip for Buyers.
The Sellers’ agent can split the commission with a Buyers’ agent, if the Buyers’ agent is licensed, has the sellers written permission, brought a ready, willing and able Buyer, and there is a successful close of escrow. The Sellers’ agent is willing to do this because the Buyers’ agent is doing half the work through the entire process to close of escrow, in addition the Buyers’ agent is taking on half of the liability as well.
That being said, just because the Sellers’ agent is willing to split the commission with the Buyers’ agent does not mean that he is discounting the commission for an unrepresented Buyer. When there is an unrepresented Buyer, the Sellers’ agent is now doing all of the work and is taking on all of the liability, and unless it is written in the initial commission agreement, the Seller has already agreed to pay the Sellers’ agent the full agreed upon commission amount at close of escrow. Therefore, the Buyer should not expect that he has an entitlement to a commission discount if he is unrepresented by a licensed agent.

So, remember, shopping for real estate by yourself, unrepresented, is your choice, however, if you are doing so thinking that you are entitled to only pay half of the seller’s agents agreed upon commission YOU NEED TO RE-THINK YOUR REASONS FOR BUYING REAL ESTATE WITHOUT PROPER REPRESENTATION.

Keep in Mind that appraisals of real property do not included commissions. So when a property sells at somewhere around the appraised value, the agent represented Seller, is paying the commission typically from their proceeds at the close of escrow. The point being, most of the time, the commission is not added to the property value when a listing is taken, and for good reason, one being that if a loan is involved, at the time of purchase, the price might inhibit the Buyers ability to get the loan. Therefore, you are not saving money by not being represented by a licensed Buyer agent.

I hope this information helps you make good decisions.



Dual Agency? What is It?

Dual Agency is a conflictive relationship that strips buyers and sellers of service to a level that can best be described as abandonment. Dual agency arises when the real estate broker is representing both the buyer and the seller. It is illegal in every other fiduciary profession except under the most extreme circumstances. It is routinely practiced in residential real estate where there is the least amount of training. When a real estate broker engages in dual agency they may not work to the advantage or the detriment of the buyer or seller. In other words, all the reasons you hired your broker vanish - often with little warning.

Dual agents are legally prevented from negotiating price or terms (two of the most important reasons consumers hire Realtors). And perhaps the biggest problem with this betrayal is that it usually presents itself with little warning to the client - it is a bait and switch. The broker could be acting in the client's best interests all the way up to finding the house that creates a dual agency. At that point the buyer or seller are on their own.

In a dual agency, brokers don't have to share the commission with other brokers so they make twice as much money. They profit greatly from this practice. Realtors, who typically have no understanding of the legal ramifications of their own fiduciary relationship with their clients, often illegally counsel their clients of the so-called "benefits" of dual agency. We're here to tell you that there are NO benefits and that you should NEVER agree to dual agency. Find a small brokerage firm with highly qualified real estate agents and demand that they not engage in dual agency. The likelihood of dual agency arising with a smaller firm is far less than with a large firm. FOR A MORE DETAILED EXPLANATION CLICK HERE.

 Information provided by CAARE, a nonprofit (501(c)(3) charity dedicated to providing consumer resources and advocacy for fair and equitable real estate practices in the United States.

"It is our mission to ensure that each person who wants to realize the dream of owning a home can do so in an environment that puts their best interest first and provides information for them to help them make the right decisions."




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