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#452950 - 06/06/16 07:14 PM Seller agent wants to double end the deal and asking buyer to pay commission
diamente Offline
Junior Member

Registered: 06/06/16
Posts: 2
Loc: Los Angeles, USA
This is in Los Angeles.

I am helping my mom who is a licensed real estate agent. She is representing a buyer bidding for a house in SoCAL. We put in an offer. The seller agent called back saying he wants to double end the deal. He is bidding against us because he is also bringing his own buyer to the deal. Since we represent our buyer, the seller agent has to split commission with us. However, he wants our buyer to pay 2.5% more to cover split commission.

I feel if we do not follow it, then he could just bring his own buyer and not take our offer.

I feel this is unethical and have not felt this much grieve before.

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#452954 - 06/07/16 12:19 AM Re: Seller agent wants to double end the deal and asking buyer to pay commission [Re: diamente]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7676
Loc: Vermont's North-East Kingdom
How is the Offer of Compensation defined in the MLS ?

Print it BEFORE it gets revised by the LO !

PS: Is it possible that the Listing presented the subject Property to your Mom's Buyer prior to her contracting to become the Buyer's Agent; like at an Open House or via a Showing independent of your Mother ?


Edited by Vermont (06/07/16 12:05 PM)
Edit Reason: Added PostScript
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#452971 - 06/08/16 05:48 AM Re: Seller agent wants to double end the deal and asking buyer to pay commission [Re: Vermont]
diamente Offline
Junior Member

Registered: 06/06/16
Posts: 2
Loc: Los Angeles, USA
The MLS listing says 2% for buyer's agent. This is for a $570K property in Socal. We are representing a buyer. We showed our buyer this property. We have been showing her many houses. There was no independent showing without my mom getting involved at least not this property. The buyer did not go to open house on this property.

I realized I probably did not write my post clearly. After we put in the offer, this seller agent called back and said he is going to counter all offers. He was fishing to see which agent would agree to his terms. One of the terms was he was bringing his own buyer and he was competing with us. He wanted to double end the deal.

He wanted me to ask my buyer if they would be willing to pay the buyer agent's commision of 2% fee. I realized he wanted to double end the deal even if a buyer's agent gets involved. The seller agent gets 5% no matter what. This is not stated in the MLS.

This is the part where I found it's not ethical.

In normal transaction, the seller agent would split the commission with the buyer's agent. The selling agent gets 3% and the buyer's agent gets 2% or whatever the negotiated amount is The sellers pays for both side's real estate agent commission. It is not happening like this in this case.

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#452977 - 06/08/16 12:11 PM Re: Seller agent wants to double end the deal and asking buyer to pay commission [Re: diamente]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7676
Loc: Vermont's North-East Kingdom
Would the Listing Agent be comfortable explaining his position to the Seller . . . . his Client ?

It sounds like he's willing to compromise the interest of his Client and jeopardize other prospective transactions in response to his own greed.

That's usually frowned upon.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#452985 - 06/09/16 01:06 AM Re: Seller agent wants to double end the deal and asking buyer to pay commission [Re: diamente]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2231
Loc: Outer Banks
This might be technically considered a net listing. I bet the real estate commission would like to hear about it.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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