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Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I was never concerned about that.... just keep moving forward....the money will come.

Aug 03, 2018 12:51 PM
Rainmaker
1,844,271
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Why are you asking this question? I just show the house. The same could be thought of a 40,000 buyer or a 400,000 buyer. Some people start calculating the commission before they've even show it - I'm not one of em.

Aug 03, 2018 12:02 PM
Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

A buyer's service agreement noting that the commission will be a fixed amount covers this. Usually it is what is the normal co-op in your market, but if the co-op commisison offered in MLS is less than that figure, your buyer will cover the difference.

Aug 03, 2018 11:43 AM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If you have this conversation with your clients prior to touring properties and you decide how, how much and from whom you will be compensated, this becomes a non-issue.

Aug 03, 2018 11:37 AM
Ambassador
2,161,048
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

No, it's not that I'm not interested in it but if the buyers want to see the home, then so be it. 

Aug 03, 2018 12:07 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

"Are you working in your personal best interest or your buyer's best interest?"

This statement implies an agent who looks at compensation has only their interest at heart.

Normally, that would get you dragged to the back of a Waffle House for a heart to heart conversation.

OF course a smart agent WILL check. They need to advise the buyer that the buyer could end up paying for their agents services if the seller lives up the what is published in the mls.

You suggest it is best to approach this topic when an offer is in the works. Such a suggestion means hearing the buyer say, "I'm not paying you $15,000 for unlocking that door!? 

I think it is best to have 'the compensation talk' at the first meeting. Let the buyer tell their agent they wish not to see houses that do not fully compensate their agent. 

Second best is to make note of compensation and advise buyer they may be obligated to compensate their agent to tune of "$$,$$$'."

"DO you still want to see this house?"

In my region, some listing DO appear with co-broke compensation of ONE WHOLE DOLLAR. No one has time for that.

Aug 03, 2018 11:45 AM
Rainmaker
4,572,117
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

That's nor a consideration.

Aug 03, 2018 12:37 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

I do not let the comission deter me from showing.

Aug 03, 2018 08:22 PM
Ambassador
2,684,009
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

1. Yes.  It's right there on the MLS listing; how could anyone not see it?

2.  If my fiduciary is with the Buyer, they come first.  

 * It is rare that Listing Agents decide to "stiff" the Buyer Brokers (although I did post an example on this Board last week). 

       Tagging onto what Lynnea Miller said, the Buyer can ask the Seller to pay the commission that is stated in the Buyer Brokerage Contract.  The Buyer and Seller are not parties to the MLS (the MLS is a contract between the Brokers); so it is perfectly legal and not a violation of NAR COE for the Buyer to request that the BBC be a seller-paid cost.   

Aug 03, 2018 03:37 PM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Clients best interest is always top of mind and comes first.  Whatever the MLS offers - it is what it is. 

Aug 03, 2018 01:08 PM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

How is that putting your clients needs first?

Aug 03, 2018 12:32 PM
Ambassador
5,049,033
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's not an issue and I don't normally look.

Aug 03, 2018 11:44 AM
Rainmaker
628,764
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

If your working on a Buyer agency agreement it doesn't matter. I have sold a FSBOS where the Buyer paid my fee when the Seller would not co-op

Aug 03, 2018 07:07 PM
Ambassador
6,393,154
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I seldom work with buyers, but coach my buyers agents to always have this conversation with their buyer while you are signing the buyers agency, if the seller does not pay then the buyer should adjust price to pay the remainder.

Aug 03, 2018 06:18 PM
Rainmaker
7,836,129
Roy Kelley
Retired - Gaithersburg, MD

Sure. 

Aug 03, 2018 12:25 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

That is what fiduciary means that you are working in the buyer's /sellers best interest!  Nor did we push when the buyer's side of the commission was more than the sellers side.  A

Aug 03, 2018 12:18 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I always do just in case my clients need to know about the extra commission per contract

Aug 03, 2018 08:36 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I don't believe I will start doing it now, never have!

Aug 03, 2018 05:28 PM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I do check yes - and in the contract if I write one, I make sure the split is even and well defined!

Aug 03, 2018 04:16 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No

Aug 03, 2018 01:50 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Buyer agent agreement covers the compensation for me but I have read a number of articles indicating that co-broker fees do impact time on market as well as sales prices for sellers. Praful Thakkar 

Aug 09, 2018 08:11 AM
Rainmaker
851,242
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I see it as part of my preparation for our showings but whatever it is won't matter either because of my buyer's agency agreement or the fact that I won't stand in the way of their goals becoming reality for a few hundred bucks (assuming it's less than our agreement). 

Aug 04, 2018 09:18 AM
Ambassador
3,125,663
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

No, I do not. That is not my motivation Praful. Achieving the clients goals is #1!

Aug 04, 2018 08:47 AM
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

I do not - then again - we always use a Buyer Broker Agreement...

Aug 04, 2018 06:55 AM
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

Yes, I check.

Aug 04, 2018 06:28 AM
Ambassador
2,436,099
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I look at the compensation when my buyer gets serious about a specific home so we can have a discussion if necessary. 

Aug 04, 2018 04:25 AM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I don't research much more than whether the home matches close enough to my clients needs.

Aug 03, 2018 11:20 PM
Ambassador
5,229,945
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I never used to look - whatever it was, it was. Now, I only look if they have serious interest and I have to explain to them any difference in our buyer-broker agreement.

Aug 03, 2018 10:25 PM
Rainer
334,783
Linda Metallo DiBenardo
RE/MAX Impact, Lockport, Illinois - Lockport, IL

No.  I am working to find the buyer client a home that works for them.   

Sep 02, 2018 11:25 AM
Ambassador
2,178,553
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

It was never a priority for me.  I knew if it was a Help-U-Sell listing, I was screwed!

Aug 07, 2018 06:00 PM
Rainmaker
5,868,482
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We do have to, as when they sign a buyer's agency agreeing to one amount, they need to know if they will need to cover the difference.  We have many flat fee companies, and offer very little.

Aug 06, 2018 07:51 AM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I look because it is posted and I am curious. It has never stopped me from showing a property.

Aug 05, 2018 02:58 PM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

The "Golden Rule' prevails in our camp.

Aug 05, 2018 05:15 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Aug 04, 2018 07:30 AM
Rainmaker
608,881
Mitchell J Hall
Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

I look at all the listing data before showing a property.  I also know the buyers financial/purchasing qualifications before showing them properties.

Aug 04, 2018 06:36 AM