To set the scene the buyer wrote up his own offer. He wrote he was not using a buyer agent so would want the buyer agent commission paid to him on my new Manchester NH area home listing. It lead me to ask the following question, "Was he a licensed agent here in NH?
The answer was no. In that case, then no, you can not get paid the buyer agents commission. For background info... the buyer called me direct. The first question is always if he is working with a buyer agent. The answer was no. During the 2nd showing and then the 3rd showing he was alone. So when he next said he would go get a buyer agent to write the offer who would then split the buyer side commission with him, the answer again was no. I told them they would not be procuring cause and therefore not due a commission.
He changed the topic and what about the offer? Well, it could not be presented as is. I could write it on a standard purchase and sales form. He would need a pre qual letter and a deposit check. Why did he need a pre qual letter turned into a good 2 minutes of why he did and what it is for. After that, he wanted to lower his offer. The bottom line was a bigger problem, the offer was $72,000 less than asking price. It did not end their when he then wanted to add that the seller would pay 6% towards the buyers closing costs.
When enough was enough the offer was re-typed. It had to be in writing to even present to the seller. The good news was the seller did not throw my out. He listened and countered with his best offer. He also said that if the buyer really wanted or needed those closing costs, we could add them to the price. The counter offer was sent to the buyer. The buyer should have been very happy. however the buyer was back to the commission.
The buyer was educated that the listing commission is a contract between the seller and the listing agent, one that he can not dictate or change. He was still not an agent and still could not get a buyer agent fee. Then I could just pay him? NO, any payment or credits have to be in writing and n the HUD. The buyer decided he wanted to think about it. After all the house needed work, he tore it up for the next few minutes and until I called it a night. An email went out to everyone that saw the home that an offer was in and they should move if they were still interested
Over night another offer came in. There was 2 second showings scheduled that morning and 2 more offers came in. The Buyer decided he wanted to take the deal and we could discuss him getting the commission. Unfortunately for him a clean offer came in and was accepted. It was substantially higher. It was clean. It had a pre qual letter and the buyer was putting down a great deal of money.
The moral of the story is that the Buyer lost out. Not willing to listen and learn was a down fall. He should have fired his own buyer agent but did not want one. In the end the seller was very happy. The seller was my client. The buyer was his own worst client.
There is a difference from agent to agent. That a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.