I'm doing my third "out of town" real estate deal. In Texas, our license allows us to conduct any type of real estate business or transaction within the borders of the state. My office is in Southlake, TX, a mid-city community within the Dallas-Fort Worth MetroPlex and my buyer client is in Monahans, some 6 hours from here. As with the prior two transactions, the entire paper trail, signatures and closings will be done entirely by fax and overnight shipping. Since the property is outside of my association, I have called the other listing agent already and they have indicated that they will not pay a commission. I have already got a buyer's rep agreement and that the buyer, my client, will be paying my 3% commission instead. If the offer is accepted we'll be closing the first week in December. Now, if you read the entire post up to here, did you catch the part of not getting paid. At closing, the listing agent will get paid 3% from his listing client, but I will not get anything. In Texas, unless I have an agreement with my buyer to be paid my 3%, I will not get paid. CYA.
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Robert, We have buyer agency in Ct, too. If we don't produce the buyer contract when asked at the closing, we don't get paid either. However, our mls in statewide. New in the last few years for us. So, we are covered there. Regardless, good for you. In this economy, you need to go out and go after the business.
It's a Good Life!
Fran