I have a question and I think you can help Rick. If a seller writes a listing agreement and agrees to pay a co-broke of 2.5%, then along comes a buyer agent who just signed a buyer agency agreement for 2% with their buyer. The homeowner (seller), will end up paying the brokers 2% commission; however, my understanding is that the sellers (who obligated themselves to 2.5%), will be required???? to use the remaining .5% as a buyer credit????
@@Rickhelps I thought so. I tried to find something in writing to show somebody else and I can't find it in writing. Do you have somewhere to refer me to to find that example please?
@@Detached_AZ Here is the verbiage from lines 41-45 of the buyer broker agreement: If seller or seller's broker's offer of compensation is greater than the Broker Compensation, Broker shall be paid the Broker Compensation and the balance shall be credited to Buyer ( to the extend allowed by Buyer's lender). If a seller's broker's offer of compensation is less than the Broker Compensation, Buyer may request seller to pay the Broker Compensation as part of an offer to purchase the Property. Any Broker Compensation not paid by seller or seller's broker shall be paid by Buyer.
Rick, you are always worth a Million for your informative information!!
@@Detached_AZ Thank you very much!
My dad used to sign his name with "S.I.I" written after his name. It stood for "signed in ignorance".
HA!
I have a question and I think you can help Rick. If a seller writes a listing agreement and agrees to pay a co-broke of 2.5%, then along comes a buyer agent who just signed a buyer agency agreement for 2% with their buyer. The homeowner (seller), will end up paying the brokers 2% commission; however, my understanding is that the sellers (who obligated themselves to 2.5%), will be required???? to use the remaining .5% as a buyer credit????
@@Detached_AZ that is correct
@@Rickhelps I thought so. I tried to find something in writing to show somebody else and I can't find it in writing. Do you have somewhere to refer me to to find that example please?
@@Detached_AZ I will get that for you tomorrow
@@Rickhelps thank you so much Rick. I'll look forward to receiving it tomorrow
@@Detached_AZ Here is the verbiage from lines 41-45 of the buyer broker agreement:
If seller or seller's broker's offer of compensation is greater than the Broker Compensation, Broker shall be paid the Broker Compensation and the balance shall be credited to Buyer ( to the extend allowed by Buyer's lender). If a seller's broker's offer of compensation is less than the Broker Compensation, Buyer may request seller to pay the Broker Compensation as part of an offer to purchase the Property. Any Broker Compensation not paid by seller or seller's broker shall be paid by Buyer.
I just sign in with my old landline ph# and check yes I have an agent even thogh I don't. Easier.
I see that all the time. But, recently some misinformed agents are telling buyers they must sign a showing agreement at an open house. Wrong.
I'm not hardly seeing any open houses right now.
They will increase once the hear subsides
It’s still pretty hot in Arizona. You’ll see the open houses pop back up once we get under 90.