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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/this-was-discussed-with-our-real-estate-agent-30707075.aspx

Subject:  Re: Five day home sale Date:  5/29/2013  5:06 PM
Author:  inparadise Number:  125410 of 127262

This was discussed with our real estate agent before we signed the contract. Our agent will not be an agent for the buyer. A buyer that shows up without an agent will be directed to another agent in the same agency. It avoids direct conflict. There can still be more subtle conflicts where a "preferred" agent's clients are given preferential treatment to the detriment of the seller.

If the listing agent takes a referral fee, this can still be a conflict of interest. When an agent refers a client to another agent, they get a negotiated fee. In the agency I worked in, it was typically 25% of the commission the referral agent would get. This may vary based on state regs and agency practices.

IP,
having collected that fee more than once, but for referring my sellers to an agent in the area they wished to purchase and in which I was not licensed
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