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How are a majority of contracts being written - as far as commission. I am selling my home and already paying both B/S fee in another state. I am not looking in just one county, so if I have a broker who is not very well versed/knowledgeable in another area can I have that area excluded in the Broker agreement?
Hi Kris, on the buyer broker agreement, you can specify a geographic area such as a town, county etc. Also, there is a single property buyer broker agreement that is also an option if you wanted to limit the agreement with the buyers agent. Hope this helps!
For YEARS, I have used Buyer’s agreement registration so that I don’t lose a commission from a buyer that wanted to look at a property, and then tries to slide another realtor into the deal.. to protect myself. Just can’t figure out how it’s going to go down that we put our commission/income into the agreement. Buyers will still try to go see a property without the agent they are secretly working with. Just not sure how putting our income into the mix is going to fly….. you know buyers aren’t going to want to pay our income, when they never had to, before….. this is so ridiculous.
I agree, it's a pain. A lot of states have required the form already so this won't be something new for those agents to navigate. And you're right, buyers are not going to want to pay if the sellers do not so it will be a tough conversation beforehand to figure out what to do. However, I'm optimistic as a default and while I think that commission amounts may decrease, I don't think they are going away. And even though they won't be published on the MLS we can still see them on broker websites, emails, social media.
You came across as very untrustworthy when you contradicted yourself on multiple occasions regarding the buyer's liability to pay your fee. Thank you for alerting us to what and whom to avoid.
Hi Eric, thank you for your comment. It's unfortunate that it came across that way to you. Long story short, I don't think much is going to change. The seller will still pay the buyer agent commission as usual. If the commission is not there, then as I described on the form, there are two ways to request the commission, at closing as a concession as part of the negotiations (credit at closing) at which the buyer pays their agent through this) or the seller pays direct to broker (as usual). If the seller flat out refuses to pay a concession to be used as commission or commission period, then having my buyers pay me any sort of compensation will be addressed on a case to case basis. I won't refuse to work with buyers (for instance 1st home buyers) who do not have the extra funds. But again, I don't think we will run into this. Regardless of who you work with you will have to sign this form if you work with an agent to represent you on the purchase of a home. I'm not sure how I came across as untrustworthy as this is straightforward but I only want to work with people that want to work with me. Best of luck to you.
@@livinginstjohnscountyfl I don't think you came across that way at all. I thought you sounded very sincere and knowledgeable. As a Realtor here of 20 years we all have a lot to learn with this and have to take things step by step. I really don't like how buyers agents are getting shafted and turned on by hateful people. They have no idea the work we do to help buyers. We do not work for free.
@@MiamiMase I agree this is a learning process for all of us and things continue to change. I've spent HOURS in training classes to stay up to date on how to follow the new guidelines etc. It's also a challenge because all the brokerages are handling these changes differently.
I hope you enjoy the content you find here. I am releasing new content each week, so make sure you hit the bell so you are notified each time we add new videos. It also helps others find my channel. Welcome to the Living in St. Johns County, Florida Channel!
Yes and the client has to abide by the agreement. That is a good thing.
How are a majority of contracts being written - as far as commission. I am selling my home and already paying both B/S fee in another state. I am not looking in just one county, so if I have a broker who is not very well versed/knowledgeable in another area can I have that area excluded in the Broker agreement?
Hi Kris, on the buyer broker agreement, you can specify a geographic area such as a town, county etc. Also, there is a single property buyer broker agreement that is also an option if you wanted to limit the agreement with the buyers agent. Hope this helps!
For YEARS, I have used Buyer’s agreement registration so that I don’t lose a commission from a buyer that wanted to look at a property, and then tries to slide another realtor into the deal.. to protect myself. Just can’t figure out how it’s going to go down that we put our commission/income into the agreement. Buyers will still try to go see a property without the agent they are secretly working with. Just not sure how putting our income into the mix is going to fly….. you know buyers aren’t going to want to pay our income, when they never had to, before….. this is so ridiculous.
I agree, it's a pain. A lot of states have required the form already so this won't be something new for those agents to navigate. And you're right, buyers are not going to want to pay if the sellers do not so it will be a tough conversation beforehand to figure out what to do. However, I'm optimistic as a default and while I think that commission amounts may decrease, I don't think they are going away. And even though they won't be published on the MLS we can still see them on broker websites, emails, social media.
You came across as very untrustworthy when you contradicted yourself on multiple occasions regarding the buyer's liability to pay your fee. Thank you for alerting us to what and whom to avoid.
Hi Eric, thank you for your comment. It's unfortunate that it came across that way to you. Long story short, I don't think much is going to change. The seller will still pay the buyer agent commission as usual. If the commission is not there, then as I described on the form, there are two ways to request the commission, at closing as a concession as part of the negotiations (credit at closing) at which the buyer pays their agent through this) or the seller pays direct to broker (as usual). If the seller flat out refuses to pay a concession to be used as commission or commission period, then having my buyers pay me any sort of compensation will be addressed on a case to case basis. I won't refuse to work with buyers (for instance 1st home buyers) who do not have the extra funds. But again, I don't think we will run into this.
Regardless of who you work with you will have to sign this form if you work with an agent to represent you on the purchase of a home. I'm not sure how I came across as untrustworthy as this is straightforward but I only want to work with people that want to work with me. Best of luck to you.
@@livinginstjohnscountyfl I don't think you came across that way at all. I thought you sounded very sincere and knowledgeable. As a Realtor here of 20 years we all have a lot to learn with this and have to take things step by step. I really don't like how buyers agents are getting shafted and turned on by hateful people. They have no idea the work we do to help buyers. We do not work for free.
@@MiamiMase I agree this is a learning process for all of us and things continue to change. I've spent HOURS in training classes to stay up to date on how to follow the new guidelines etc. It's also a challenge because all the brokerages are handling these changes differently.