A couple of weeks ago I heard a new agent say "i'm getting paid x if I sell them this house; and x+.5 if I sell them the other house". He was of course referring to the percentage of commission which the Listing Broker was offering to pay a buyers agent.
I wanted to throw something (heavy) at this agent. I chimed in; "You are their agent - your needs do not matter - you need to help them buy the home that is best for them and the one they like the like the most!"
A buyer's agent needs to address his commission at the very beginning with his Buyers Agency Agreement. If he is going to charge x% or accept the co-op%; they need to accept it.
I always address how I get paid up front with my buyers. I explain to them how the commission works and how I get it paid - then I don't think about it again until I see the commission check at the end of the transaction.
It is a Realtors obligation to look out for his clients BEST interests above all else - PERIOD.
When hiring your own Agent; make sure you know whose side they are on !
Contact James Downing of the Downing Real Estate Group, LLC; if you are selling, buying or have questions!
Office: 202-469-6778 or 703-244-3971
Licensed in Washington DC, Virginia & Maryland.
Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!
Office: 202-362-5800 Cell: 703.244.3971
Licensed in Washington DC, Virginia & Maryland.
Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
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James, I find it very strange to focus on something that might not materialize.....I wait to focus on the commission once we have Escrow Instructions and then I do not focus on it until the buyer has removed all the contingencies. The money will come if we take care of our buyers and so will referrals.