This afternoon I held an open house in Bradenton, Florida for a property that is listed by another agent within my same brokerage. During my open house I had a few Realtors drop by and a question arose: How does one handle showing property that one is not listing when either buyers whom already have representation or Realtors that may bring a buyer at a later date show interest in the property?
This question vexes me and I have now come up with a few possible answers:
1. Before showing property under these circumstances have an agreement with the listing agent that if you effect procuring cause during your open house then there is a percentage split on the listing agents' commission.
2. If this type of agreement cannot be reached then do not offer to show that specific agents' properties.
3. Locate an agent whom has listings that meet your desires and procure an agreement with that agent that allows for a commission split based on the above scenario before any open house is scheduled.
The above situation I feel is one that happens mostly to agents who are just beginning a career in Real Estate. The reason I say this is that once you have your own bank of listings there would be no need to show other agents' properties.
What do you think?