There appears to be a lingering perception in the minds of some Buyer Agents who have been around for a while that no matter what the total commission paid by the Seller is, the Buyer Agent is automatically and indisputably entitled to 50% of the total commission.
What's more, when they become aware that's not the case - some of them behave atrociously. They wail......
What they fail to realize is that this behavior is:
1. A violation of the REALTOR Code of Ethics and
2. makes them look like total morons!
Nothing prevents any Buyer Agent from establishing their compensation with their Buyer in a Buyer Broker Agreement.
If the compensation offered in the MLS is equal to or exceeds that amount, the Buyer does not have to contribute to the Buyer Agent commission.
If the compensation offered in the MLS is less than that amount, the Buyer contributes to the Buyer Agent commission.
Why a Buyer Agent would work with a Buyer without a Buyer Broker Agreement is unfathomable.
Would they take a listing without a Listing Agreement?!
The conclusion will no doubt irritate some of these Buyer Agents, because the truth can be very irritating.
They simply aren't "strong" enough to secure a Buyer Broker Agreement with their Buyers. Instead they rely on the Listing Agent to establish the compensation offered in the MLS, and if they think they are entitled to more, they squawk!
Worse yet, some of them will tell prospective Buyers that the Listing Agent is "not offering a co-broke" or better still "not offering a FULL co-broke"! What on earth is a "full" co-broke?! There isn't any such animal!!
It would be far simpler, and far more professional, to secure a Buyer Broker Agreement (if the Buyer Agent is dead set on a certain amount of compensation) with their Buyer.
If a Buyer Agent does not choose to have a Buyer Broker Agreement with their Buyers, they have no business moaning and whining about the compensation offered in the MLS, particularly after they have shown the property and written an offer!
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!
Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty
Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty