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Buyer Rebate Retainer Fee is waived for current Listing Clients SEARCH MLS LISTINGS: | |
Sign up to get Automated Emails of New Listings as they are posted 2011- National Bureau of Economic Research - Lower commissions result in significantly higher home sales. A one-half reduction in the commission rate leads to a 73% increase in the number of houses each agent sells. Lower commissions reduce transaction costs, which leads to a more liquid housing market, improved asset allocation, and better housing consumption. Flexible commissions provides a channel for consumers to choose services tailored to their preferences. Buyer Agent: (statement) "There is absolutely no cost for you to have your own agent representing your best interests. My fees are already committed by the listing brokerage." This premise is false and deceptive. Commissions come from Buyers payment/mortgage as well at the Sellers equity. The "Cost of Sale" is the overall price paid for the property. Work with us Buyer or Selling with the comfort knowing you are protected by the State approved purchase agreement, Seller Disclosures, Due Diligence, Appraisal & Finance Deadlines, and the Fiduciary Duty of the Brokerage. A Reduction or a Rebate of commissions is a Bonus! | |
Brokerage Compensation is contracted between the Seller and Listing Brokerage, in most cases the Listing Brokerage offers a portion of this compensation to Cooperating Buyer Agent/Brokers. This is known as the Coop Buyer Agent Commission. This contracted Coop incentive is offered from Listing Broker to Selling Broker. The Selling Broker (Buyers Agent) should also have a Buyer Agent Agreement, noting the amount of compensation that is required of the Buyer Agent for services rendered. In the event the Coop amount offered is less than contracted between Buyer And Buyer Brokerage, adjustments to the offer may be required. Licensees are instructed to inquire if prospective clients have contracted / signed an exclusive representation agreement with another licensed agent. Broker/Agents who do not inquire about an the exclusive agreement may be found in violation of the Realtor Code of Ethics. | If contacted about their property; The LISTED Seller should also inquire as to whether the party to whom they are communicating is a licensed agent or whether the party is represented by a licensed agent. Broker/Agents should disclose there status as Licensed Broker/Agents up-front, Buyers should also disclose their status of being represented by a Licensed Broker/Agent. These disclosures identify to all parties the Agency involved in any upcoming transaction and avoid future miss-communication in the selling process especially regarding compensation issues. Real Estate Commissions are negotiable and are not established by law. |
Standard of Practice 16-16 NAR REALTORS®, acting as subagents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing brokers offer of compensation to subagents or buyer/tenant representatives or brokers nor make the submission of an executed offer to purchase/lease contingent on the listing brokers agreement to modify the offer of compensation. (Amended 1/04) | |
| AGENCY should be disclosed up-front. Utah Licensee Conduct 6.1.11.2. A principal broker and licensees acting on his behalf who represent a buyer shall have a written buyer agency agreement with the buyer defining the scope of the agency. | |
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