New nar rules for agents. will alternative models destroy the ease of appraiser getting that info.

[Zoe]

But true buyer representation barely exists!
Maybe those few who thought they were getting buyer rep but did not initiate the suit, but a true buyer agent agreement is rare because a real buyer agent role means the buyer pays the agent and very few buyers want to fork out cash to an agent - what really happens is the buyer works with an agent who acts as a selling agent in a transaction , and while a buyer may think that agent represents them, the agent is really representing the transaction to get a commission - thus many agents sign a dual agency agreement and not a buyer agent agreement. So if now a buyer agent gets a written presentation, it clarifies it, but since so few people do it, it is m, IMO, meaningless.

So if all agreements on commissions are negotiated outside of MLS rather than a stated fee it might or might not change things - now a broker can charge 10% vs 6 % -and let a buyer haggle it down lol

Buyer concessions in MLS - idk what that means.

Basically, it is a toothless series of regulations IMO - might work out to some lower commissions if negotiated outside of MLS, in some cases - or not -

Appraisers were royally screwed by the HVCC wrt seeing it not allowed any longer for an individual loan officer to choose the appraiser because fo teh huge market power share it defacto delivered th to the AMC's who now had unprecedented leverage over the appraiser - that is not true in RE sales, where an agent or broker has tens of thousands of individual buyers or sellers to work within an area -l

Not true locally. Many buyers and sellers have separate agents. Florida may be different. I just went on short trip to Clearwater and St. Pete, Treasure Island.

It was nice. Clearwater beach was nice. I wanted a T-shirt, but my wife found some on Amazon for like $15-$20.

 

[Zoe]

You got me thinking JGrant. If you think almost all sales are sellers agents in your local area.

That is where the anti trust complaints came from and the settlement.

That is buyer thinking they paid seller's commission.

 

[J Grant]

Not true locally. Many buyers and sellers have separate agents. Florida may be different. I just went on short trip to Clearwater and St. Pete, Treasure Island.

It was nice. Clearwater beach was nice. I wanted a T-shirt, but my wife found some on Amazon for like $15-$20.

I am not denying that they have separate agents, I am saying the word "buyer broker" is often not what we see on a sale contract for the agent that brings the buyer -and in most cases both sets of agents are paid by the seller-

 

[Zoe]

I am not denying that they have separate agents, I am saying the word "buyer broker" is often not what we see on a sale contract for the agent that brings the buyer -and in most cases both sets of agents are paid by the seller-

Okay, the contracts we have locally and we have one of the largest single family brokers in the whole U.S. The seller's agent signs on one line and the buyer's agent signs on another line. The commission is disclosed sometimes and sometimes not. That is only on the sales contract.

It is not disclosed in the MLS.

 

[Zoe]

Look at them. They operate in many states on single family and commerical properties.

Crye-Leike.com | Properties for sale throughout the Southeastern US

Search property for sale and find real estate agents to work with at Crye-Leike.com

www.crye-leike.com

 

[J Grant]

Okay, the contracts we have locally and we have one of the largest single family brokers in the whole U.S. The seller's agent signs on one line and the buyer's agent signs on another line. The commission is disclosed sometimes and sometimes not. That is only on the sales contract.

It is not disclosed in the MLS.

What is the LABEL/ NAME on the sale contact for the "buyer's 'broker and buyer's agent were you are located?Do you have any sales contracts on file from purchase appraisals,, or can you look it up online?

Is it is literally "buyer's agent" or some other label -in FL, what many believe to be the "buyer's broker " is called, on the sales contract, the cooperating broker. And they are paid by the seller, even if tehri function was to bring the buyer to the property.

I just posted a poll on it to clear up the confusion or find out if teh word "buyer's broker " is actually a pre-printed term in contacts.

 

[J Grant]

Okay, the contracts we have locally and we have one of the largest single family brokers in the whole U.S. The seller's agent signs on one line and the buyer's agent signs on another line. The commission is disclosed sometimes and sometimes not. That is only on the sales contract.

It is not disclosed in the MLS.

For Information Purposes Only:Listing Company: _______________________________ Selling Company: _________________________________Listing Firm Address: ____________________________ Selling Firm Address: ______________________________Firm License No.: _______________________________ Firm License No.: _________________________________Firm Telephone No.: _____________________________ Firm Telephone No.: _______________________________Listing Licensee: ________________________________ Selling Licensee: __________________________________Licensee License Number: ________________________ Licensee License Number: ___________________________Licensee Email: _________________________________ Licensee Email: ____________________________________Home Owner’s / Condominium Association (“HOA/COA”):______________________________________________________________

I just checked out a PDF contract online for Tennesssee -IT DOES NOT SAY BUYER;S BROKER/AGENT, right? It says selling company

That is why,, I said, in a prior post on this topic that the word "buyer's broker" is typically not the label used because a true buyer's broker would be paid by buyer,,nto the seller -

What are really selling agents or cooperating agents are THOUGHT OF as the "buyers' broker" but that verbiage is not used - they may bring a buyer to the property and negotiating on behalf of the buyer but their commission is paid by the seller -

that is why i called the NAR rules toothless about "buyer s broker " since they chose to use that label when I bet few sales contacts ever state it as such - idk if that is true in each state for now unless Isee otherwise I assume it would be -

 

[Mark K]

A 'buyer broker' is just a term for the agreement executed between the buyer and their agent describing the rights and duties of each party. All purchase agreements I've encountered simply say 'listing agent/company' and selling agent/company.

 

[Zoe]

What is the LABEL/ NAME on the sale contact for the "buyer's 'broker and buyer's agent were you are located?Do you have any sales contracts on file from purchase appraisals,, or can you look it up online?

Is it is literally "buyer's agent" or some other label -in FL, what many believe to be the "buyer's broker " is called, on the sales contract, the cooperating broker. And they are paid by the seller, even if tehri function was to bring the buyer to the property.

I just posted a poll on it to clear up the confusion or find out if teh word "buyer's broker " is actually a pre-printed term in contacts.

Its listing company, Selling company with signatures for agent in each section.

Contact info, broker, etc.

Sometimes a commission agreement is in the contract. That has to be disclosed also. I don't who controls that. Obviously if the seller is only agent involved, then there is no selling company.

Commissions are not disclosed on MLS.

 

[Zoe]

Of course a contract is not fully executed unless both buyer and seller have signed the contract. Agents same way.
Contracts are not disclosed on local MLS to anybody.