5,027,077
Why is this a question? Why would a listing agent during a a presentation be talking about commission paid to a buyer's agent over the previous years? Did I miss something??
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Nina Hollander, Broker
Charlotte, NC
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Susan Emo
Kingston, ON
1,846,901
I'm scrunching my forehead wondering why?
If you say you pay a higher % thus attracting more buyers agents - that's totally ok.
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
1,056,272
I don't think it's fair housing, but a potential price-fixing concern. If you compiled a report showing buyer agent splits via MLS for a number of homes in the area, I would call those statements of fact and not a standard being set.
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Nina Hollander, Broker
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Bruce Walter
West Lafayette, IN
3,741,885
I am having a hard time seeing how commissions paid to a buyers agent have anything at all to do with fair housing. Maybe I just don't have the context for the question.
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Nina Hollander, Broker
Charlotte, NC
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Susan Emo
Kingston, ON
290,969
I don't know 'why' a listing agent would mention commissions being paid to a buyer's agent over the previous year. Who would be asking, and why would they care - what is someone's 'agenda' for giving this information, since it involves another agent, and not themselves. I need to read answers below Evelyn Johnston!
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Susan Emo
Kingston, ON
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Michael Setunsky
Woodbridge, VA
991,252
Why would that even come up and how would they know other than guessing which is a whole other ball of wax not to be opened!
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Jessie Cochran
Panama City, FL
3,167,614
you can discuss commissions with potential clients all day long. You simply cannot discuss them with other brokers/agents because that could be collusion or even the appears there of which is not legal. You actually can even run ads saying what your firm charges and what they pay agents if you're running a recruiting ad. No issues there at all. And commissions and discussions of them have nothing I know of to do with fair housing. The Sherman Anti-Trust Act is what prevents broker to broker discussions
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Nina Hollander, Broker
Charlotte, NC
2,221,377
Commissions paid are not a protected class under the fair housing act.
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Anthony Acosta - ALLAT...
Atlanta, GA
3,349,404
I run that data all the time and share it with Sellers. The reason - if a seller wants to discount that data supports why they need to ante up or risk not getting their home shown and sold.
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Nina Hollander, Broker
Charlotte, NC
5,060,544
I think Kenneth J. Jones and Fred Griffin have good answers
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Fred Griffin Florida R...
Tallahassee, FL
5,772,581
Evelyn,
I think you have your answer, and then some...we have very smart people here. A
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Nina Hollander, Broker
Charlotte, NC
1,624,653
It is a custom here to divide commission in half. If a listing agent can not negotiate the commissions for both brokers, how that agent will be considered good for a seller in negotiation the whole transaction?
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Pete Xavier
Pacific Palisades, CA
2,684,569
Not sure I understand the question. Is the scenario/discussion about (1) what Buyer Brokers typically get paid, or (2), how much compensation the Listing Agent is going to offer to Buyer Brokers as compensation
Scenario (1)
That discussion may be a violation of your MLS rules, if you name names and discuss the compensation paid to another Agent or Broker.
If you are only showing the Seller the "split" offered to other offices that you typically see in the MLS, that should be acceptable.
Scenario (2)
If you are telling the Seller, "I the Listing Agent will charge you 10 bananas to sell your house, I typically give 4 of those bananas to the Buyer's agent or Selling Agent," that is part of the Listing Presentation. In our (Florida) forms, the amount paid to cooperating Brokers is spelled out in the Listing Contract.
See an Attorney for legal advice.
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Silvia Dukes PA, Broke...
Spring Hill, FL
292,685
I think if anything it would fall under "Anti-Trust" law because price fixing or talking about real estate commissions would be covered in this area.
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Bruce Walter
West Lafayette, IN
216,904
Not sure why this would be brought up in conversation. If you are stating what you, as a buyer's agent, have been paid in past year, that is a fact. If you are stating what your firm has paid buyer's agent, that is a fact. Beyond that you are walking a fine line.
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Allie Angeloni
Oro Valley, AZ
4,800,132
I'm sorry Evelyn, but I really don't know the answer to this question.
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Evelyn Johnston
Elkhart, IN
956,152
They can state the range, which in truth it has been a range since it's negotiable.
Where one would get in trouble is to imply that there is a standard, normal, usual or typical rate, even when speaking of the selling (buyers') agency's split. We must stay away from even the appearance of price fixing as it's a antitrust issue.
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Evelyn Johnston
Elkhart, IN
1,683,912
That's a good question. I'll wait to see what kind of answers you get.
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Evelyn Johnston
Elkhart, IN
4,960,497
5,877,335
766,079
1,506,013
Evelyn,
Out here that information is not public knowledge. I have NEVER seen it come up on a presentation (usually the total percentage will be asked) and I would put out there that most sellers don't know it exists. The one's I've explained where the percentage goes have not realized that it covers both agents.
4,582,184
Huh? As I channel Roy Kelley -- this might be an opportunity for a blog post. I'm betting there is something that happened to trigger this question.
7,863,184
5,112,471
What buyer agents are paid on listings is a matter of "public" record in mls. Just gather up your facts.
2,538,633
Good morning Evelyn. Not sure why it would come up, you know what are going to charge as your fee, I would be fully open about it, as you know what your service is worth.
4,319,773
Evelyn Johnston this will a 'fact' - yes, I think we can share that information with future prospects.
1,525,616
I wonder why that would be a part of your listing presentation unless you are trying to get a seller to pay a higher commission like Lyn Sims said.
321,564
Stopped to read your replies. Interesting, I have never thought of this.
3,340,443
Not sure in what context you are using this...If you say that the "usual" commission is X and the Buyer's agent gets Y. You will work at less than X but buyer's agent still gets Y..the "hit" is on you...is the only reason I can thik of that this would be part of a listing presentation.
3,986,308
2,375,694
3,988,013
I don't see a problem with it but also don't see how this would come up in a conversation.
4,434,177
2,784,566
what that would have to do with a subject in the moment I would like to know...Water under the bridge..
6,417,434
Not sure why it would be.
I see Kenneth J. Jones has a good reply at the top of the list though.
823,679
Has never happened to me and don't know why it would be brought up. I don't know the answer.
5,583,328
1,241,754
There are homes sellers who will not pay to MLS buyer agent. They expect buyers to pay for it. It is a statement of fact.