I know several people who are planning to list their homes in the next few months, but as a true exclusive buyer's agent working for an exclusive buyer brokerage, I can not list their homes for them. If you are also an Exclusive Buyer's Agent (EBA) working at an exclusive buyer brokerage, I'd love to hear a bit about how you handle this situation.

How have you selected the agent to whom you refer your listings? Do you get a referral fee for sending them to listing agents? Does this agent let you know if an unrepresented buyer walks into an Open House for the referred property? Do you disclose that you will receive a referral fee to the person you refer?

Thanks in advance for any information you may share.

 
Posted by Dana Hollish Hill, GRI, Associate Broker on 04/02/2007 07:58 PM   Comments (1)  

1 Comments on I know several people who are planning to list their homes...

APR
14
2007
 Dana, Good questions. I do both buyer agency and listings, although I have to say I have been more successful with buyers. I'd say the best way to choose an agent to whom you refer listings is to think back on agents you have dealt with on the "other side" of your buyer deals. Foremost, you want an agent who treated you with the respect you are due, and who handled the deal with integrity.  If you have not done any transactions, ask other agents about who they trust. Barring that, choose an agent with an advanced designation like CRS or GRI, because it demonstrates a commitment to professionalism. You most definitely should get a referral fee and agents are more than willing to pay that fee. The question about unrepresented buyers again depends upon the integrity of the agent. If the buyer does not want representation, the listing agent could handle it in which case you would not get the referral fee from the buy side, but you are already getting from the list side. If they want to buy that house and want representation, hopefully the agent would give them to you. These are my opinions, but it is usually a good idea to disclose a referral fee, although I don't think it is required. You would have to check the code of ethics for your state. I hope this is helpful.
4:08pm • #1

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Dana Hollish Hill, GRI, Associate Broker

Bethesda, MD

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Buyer's Edge Company, Inc.

Address: 4919 Hampden Lane, Bethesda, MD, 20814

Office Phone: (301) 657-1475 x 313

Cell Phone: (202) 271-5301

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