Real Estate Commission Question? [Archive] - Real Estate Insider Forum
 
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Bo
07-30-2007, 01:10 PM
Five months ago I was working with a Realtor and saw about 20 properties. I'm now working with a new realtor who will split their comission with me. One of the properties I saw with the first realtor 5 months has gone down in price by 50,000. I now have some interest in the property and I'm thinking of making an offer. The problem is the first realtor told me since they introduced me to the property they would be entitled to the comission. Is that true? I never signed any type of aggrement with the first realtor, so do I have a future problem?

Beau R
07-30-2007, 11:00 PM
If he makes a problem with you remind him that a vague verbal contract is unenforceable.

David
07-30-2007, 11:14 PM
The Realtor that will split their commission with you is doing something illegal and can lose his license. He is not allowed to split his commission with you, that's considered a kickback.

The first real estate agent that showed you the house is entitled to the commission he is the procuring cause.

Interesting
08-02-2007, 07:32 PM
Your old Realtor is not entitled to any commission split simply because you did not sign a Buyer's Representation Agreement; therefore, you were a customer and not a client. He did not pledge to represent you in writing, nor did you pledge compensation in writing. Essentially your old Realtor acted as a volunteer.Additionally, Realtors can only split their commissions with licensed agents. However, he may gift any amount he desires, and he may choose to a lesser commission. But remember, commissions are paid by the seller and not the buyer.