Express commission in MLS 3% to Selling Agent. Howerver, in counter offer, Listing agent wrote: "commission to selling agent is 2.5% only." Buyer beged me to get the house. Many Agents responsed to me that buyer and seller are not part of commission. I tried to find that rule either in MLS and/or in real estate website but I can not find it. I know that act was not fair but I need the regulations to support the fairness. Please help.
Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL
Forget the buyer. Stick to the actual facts on the MLS.
Ask the agent if they`re taking a lessor commission as well. If the answer is NO, i`m positive you`ll know what to do.....
Jul 10, 2008 10:46 PM
Coldwell Banker Ellison Realty 352-209-4044 - Ocala, FL
Realtor, Homes, Farms & 55+
Unless you agreed to a reduction in commission then they are breaking MLS rules. Report them NOW! They are obligated to pay what they say & have written. Remember Real Estate 101 "if it is in WRITING". Make them pay! They should be kissing your feet for selling their listing in this market not spitting in your face by stealing your money. They are right with one thing---the buyer has nothing to do with this, it is 100% the listing agent and their broker who are the cheaters and are completely liable.
Jul 10, 2008 10:55 PM
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!
Hopefully you have a copy of the mls printout that shows the commission they agreed to pay when you showed the home, because it is probably changed by now. If you have a copy, you have a pretty strong case for the grievance committee that your board should have. Contact your board and get started.
Jul 10, 2008 10:59 PM
Aubrey and Associates Realty - Layton, UT
The C Team
Mark, yoy have to hold the listing agent to what was posted in the MLS. That is one of the reasons that we have been instructed to print off the MLS pages and make them exhibit A in the REPC, so that it is how the listing agent listed it, not what he or she may have changed it to after getting an offer. Good luck!
Jul 10, 2008 11:11 PM
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland
Send a copy of the MLS showing the 3% co-op to the title office.
Neither the buyer nor seller can change the co-op in the MLS. This is a matter that needs to go broker to broker. I would have my broker communicate in writing to the listing broker with a copy of the MLS showing the co-op.
Our contract has clause directing the title office to pay the broker fee in accordance with the listing agreement. The MLS reflects the listing agreement.
I don't believe that the NAR Associations will get involved in fees. I do, however, believe that this is a violation of the broker's membership agreement with the MLS provider.
The MLS provider should be noticed quickly.
Jul 10, 2008 11:13 PM
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
Commission is not part of a buyers contract and never should be written on a contract. The commission stated in the MLS at the time you show the house is a contract between brokers. Contact your broker immediately to discuss the issue and have them talk to the other broker. This is the type of behavior by other agents that needs to be brought to the attention of your local ethics committee. How many other times have they tried this and gotten away with it?
Jul 10, 2008 11:26 PM
Realty Executives of Hickory - Hickory, NC
Rochester, NY
From the COde of Ethics below. If there was a change in the coop amount to be paid you should have been noified prior to an offer being presented. The good news here is that the agent put in writting in response to your offer, after the offer was presented. You should go to your broker.
-
Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation. (Adopted 1/94)
Jul 10, 2008 11:36 PM
Champion Realty, Inc - Annapolis, MD
Contact your local MLS' compliance dept. They will get it to you promptly.
Then contact your broker who should handle it on your behalf as the commission agreement is between Brokers.
After you have been correctly compensated you should file an ethics violation against the agent. We need to keep people like this out of our profession!
Jul 10, 2008 11:48 PM
Comments (9)Subscribe to CommentsComment