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#129436 - 03/19/07 08:44 AM Buyer Agency OFFER FORM
MA BROKER Offline
Member

Registered: 03/29/06
Posts: 204
Loc: Massachusetts
I'm in MA and have seen a different form used to make offers with rather than the usual MAR form. The one I saw had a space for the commission % to the buyer broker, the MAR forms do not. Anyone know where I can get a copy of this?
_________________________
I'm a Massachusetts Broker

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#129964 - 03/22/07 06:47 AM Re: Buyer Agency OFFER FORM [Re: MA BROKER]
Concepts05 Offline
Veteran Member

Registered: 12/21/05
Posts: 1477
Loc: MA
I haven't seen one of those.

I don't think I'd use it anyway. Putting the buyer agent commission on the offer would make it look like it was negotiable. I could see the deal getting down to the last $2000 in negotiations and either the buyer or seller looking at it thinking..."hmmm, the agent is getting $9000 for selling my house...let's offer $7000 and see what happens."

Obviously they all know we're getting paid and I would certainly tell them if they ask (never had that happen)...but why stick it right in their face?

Did you have a problem getting paid your commission?


Edited by Concepts05 (03/22/07 06:49 AM)

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#129990 - 03/22/07 11:33 AM Re: Buyer Agency OFFER FORM [Re: Concepts05]
pikes peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2743
Loc: CO
Agents commissions should not be part of a purchase contract that is between a buyer and a seller. Only in FSBO purchase contracts should commission be addressed in the absence of a written side agreement between buyers agent and FSBO.

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#129993 - 03/22/07 11:42 AM Re: Buyer Agency OFFER FORM [Re: Concepts05]
AgentinMA Offline
Member

Registered: 12/31/05
Posts: 243
Loc: Boston Metro
Is this for a FSBO? I have only seen CBRB use a seperate addendum for their buyer agent offers that specifies buyer agent compensation. I haven't seen any other companies use a form like this and I have not seen a MAR form like this. The MLS listing should specify what buyer agent comp is. If it's a FSBO write in your compensation on a seperate addendum along with other terms and conditions. Make sure to put your compensation is as a percentage of the purchase price not a specific $$ figure. The percentage looks better than a big dollar figure staring you in the face.

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#130664 - 03/25/07 08:26 PM Re: Buyer Agency OFFER FORM [Re: AgentinMA]
Concepts05 Offline
Veteran Member

Registered: 12/21/05
Posts: 1477
Loc: MA
geesh, why post a question then not come back on to reply....

I hope I don't do that! LOL


Edited by Concepts05 (03/25/07 08:27 PM)

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#130877 - 03/26/07 03:21 PM Re: Buyer Agency OFFER FORM [Re: Concepts05]
MA BROKER Offline
Member

Registered: 03/29/06
Posts: 204
Loc: Massachusetts
Sorry you think I didn't come back to reply... this was supposed to go to my email to tell me I had a response but it never showed up and I didn't know there were responses. If there is a way to do that if someone could help me with I'd appreciate it.

I had an offer given to me on my listing by a "buyer's broker" who had a space in the contract for the % of commissision that he was going to get. I guess I will just have to write in the extra lines on the contract that the buyer's agent will get 2.5% commission for bringing the buyer. It seems buyer commissions have dropped down to an average of 2% in this area. Pretty poor when you consider the responsibility and work the buyer does.
I've shown this particular buyer 28 properties.
_________________________
I'm a Massachusetts Broker

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#130879 - 03/26/07 03:22 PM Re: Buyer Agency OFFER FORM [Re: Concepts05]
MA BROKER Offline
Member

Registered: 03/29/06
Posts: 204
Loc: Massachusetts
I think that's a good point...thank you for it.
_________________________
I'm a Massachusetts Broker

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#130981 - 03/26/07 10:55 PM Re: Buyer Agency OFFER FORM [Re: MA BROKER]
Concepts05 Offline
Veteran Member

Registered: 12/21/05
Posts: 1477
Loc: MA
Since the change over to the new format, I think we have to make a change somewhere in our preferences section to be notified of responses. I haven't bothered yet to change it either - so I've probably missed some responses too.


Anyway, is it standard in your area to put the buyer agent commission on the offer? It always amazes me how different we all handle the paperwork, even in the same state.

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#131143 - 03/27/07 07:19 PM Re: Buyer Agency OFFER FORM [Re: Concepts05]
Devil's Advocate Offline
Veteran Member

Registered: 01/03/05
Posts: 538
Loc: Ontario, Canada
For What it's Worth:

Locally, we are prohibited entering any mention of an agents compensation in an Offer after it was found to be redundant.

Simply because, our courts had ruled that such clauses are without merit and have no force or effect upon parties in the Offer, as agents are not privy to the contract between a buyer and seller.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

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