Really think the new compensation laws, disclosures, and forms have done a disservice to the industry as whole. Agents have to negotiate how much they get paid throughout the transaction creating more confusion than clarity.
Unless the BB is willing to offer the Buyer a credit (multiple transaction discount, friends/family/great client discount, other BB2B incentive program, etc), money that is requested to route back to the Buyer, towards closing costs, etc, should be negotiated separately via the Form 22A or similar addendum, not just a simple money grab by the Buyer. How is a Buyer responsible to pay BB 6x only to be credited 2x, if the Seller doesn’t agree to pay BB 6x? Seems a slippery slope if the BBSA can be so easily, and nonchalantly, modified/manipulated. I don’t see the listing agreement and LB compensation talked about in the same manner. Also, what other industry discusses compensation scenarios using fruit? It’s demeaning to the profession.
It feels misleading to negotiate with the seller for a credit to pay the buyer's agent when the buyer and agent are in cahoots to split that money. The seller is being asked to pay a fee that isn't being used for what they are being told. Pre-8/17, this didn't matter since the seller was paying their LB, and that broker was paying the BB, who then shared a % of that money with their buyer client. So, Does the seller need to know about and approve the use of hte money being negotiated?
Hi Andrew. If you are a Washington REALTORS member, please direct your questions to Annie at our Legal Hotline here: www.warealtor.org/membership/for-members/legal-hotline. Thank you!
Hi there, if you are a Washington REALTORS member, please direct your questions to Annie at our Legal Hotline here: www.warealtor.org/membership/for-members/legal-hotline and she will be able to clarify this further. Thank you.
The fact that we have to talk about "apples" as a term of compensation, instead of terms that make sense for agents is ridiculous. Common sense needs to prevail in our industry at some point. It's becoming absurd.
I don't think its for closing costs. its like paying the buyers. That's what i get asked, "will you pay me back a part of your commission as my friend is giving it to me!"
