Easy way of telling RE agents that you are representing yourself when buying a house?

[justalayman]

I don't know what state you are in, but I explicitly posted I was in WA in the OP.

Here is the laws of a dual agent in WA. It clearly states written consent from all parties:

http://app.leg.wa.gov/RCW/default.aspx?cite=18.86.060

"Dual agent—Duties.
(1) Notwithstanding any other provision of this chapter, a broker may act as a dual agent only with the written consent of both parties to the transaction after the dual agent has complied with RCW 18.86.030(1)(f), which consent must include a statement of the terms of compensation."

Are you above the law?

You have no understanding of agency and as such, no idea what that law is for. It is simply a requirement that if an agent acts in a dual agent capacity it must be known by and agreed to by the principals involved.

 

[pditty8811]

Here, you wanted a contract showing what I am saying. Here is the brokerage fee portion of the contracts from the realtors assoc in my area;

Where is your area? I just showed you RCW's saying that it should be in writing in WA.

 

[pditty8811]

Here, you wanted a contract showing what I am saying. Here is the brokerage fee portion of the contracts from the realtors assoc in my area;


BROKERAGE FEE. Seller agrees to pay Broker a brokerage fee of % of the sales price due and payable if: the property is sold or traded by Broker or by Seller or anyone else during the listing period (including sales pursuant to
options granted or contracts executed during the listing period);
a prospective buyer ready, willing, and able to purchase the property on the terms specified herein or other terms acceptable to Seller is produced by Broker or any licensee or person during the listing period;
or the property is sold within months after expiration of the listing period (including sales pursuant to options granted or contracts executed within that period following expiration) to a buyer who had been shown the property during the listing period by Broker or Seller, or any other individual licensed for real estate sales activities under the Michigan Occupational Code (hereafter “licensee”) or person, except that this provision shall not apply if the property is sold pursuant to a valid listing agreement entered into with another broker subsequent to the expiration of the listing period of this agreement



Notice; the seller owes to the listing broker a fee if the house is sold. Do you see anything in there about any other agent sharing it?

Nope



Here are the sections that deal with other entities that may be involved;

PARTICIPATION IN MLS. Seller agrees that the brokerage fee may be shared by Broker with any cooperating broker who participates in the sale per the following compensation schedule:
Subagent (of the Seller) % of the sale price; Buyer’s Agent % of the sale price; Transaction Coordinator % of the sale price.
Participation in the MLS requires cooperation with at least one type of agency relationship as listed above.
Exceptions:
9. POSSIBILITY OF DUAL AGENCY. If Broker acts as a dual agent, Seller hereby consents to this dual agency and agrees that under such circumstances, the following provisions shall govern Broker’s actions:
a. Broker will not knowingly say anything or do anything which might place one party at a disadvantage, such as disclose
personal confidences;
b. Broker shall assume a role as an intermediary, facilitator, and/or mediator to assist Buyer and Seller; and
c. Broker shall not disclose to Buyer that Seller might accept a price other than the listing price; nor shall Broker disclose to
Seller that Buyer might be willing to pay a higher price.



I have NEVER written a contract allowing for a share to be paid by a buyers agent. If the buyer wants to hire an agent they can pay for it themselves. I have shared the commission with other agents for the seller (subagent of the seller). Do you see anywhwere stating the fee the seller agrees to pay is reduced if there is not a buyers agent or anybody else? Huh? Do you?


I didn't think so.


That is where you are getting screwed up. You think that automatically an agent that shows the house to a buyer is a buyers agent. You obviously do not understand agency. I cannot recall any buyers agents in my area, ever. You have to realize a buyers agent works for buyer. Sellers agents work for the seller. A buyers agent attempts to get the lowest price possible while a sellers agent attempts to get the highest price possible. Dual agencies are possible but they are very difficult to deal with since an agent has a fiduciary duty to the principal. With a dual agent that is nearly impossible to honor.

What the hell does that say in bold?

 

[justalayman]

Where is your area? I just showed you RCW's saying that it should be in writing in WA.

You showed me a law requiring a dual agency to be disclosed to the principals involved. That has absolutely nothing to do with the commission paid by the seller. It is nothing more than a mandatory disclosure. My state has the same basic law.

I also knew of no agents that would act in a dual agency capacity. Too many possibilities of problems and not necessary.

 

[justalayman]

What the hell does that say in bold?

Show me where the brokers fee (the section prior) is changed by anything, especially a buyers agent's fee. As I said, I never included a buyers agent's fee allowance in my listings. I was not going to expect my seller to pay a buyers agent who is bound by law to pay the seller as little as possible. Kind of having the fox guard the henhouse.

 

[STEPHAN]

I expect informed advice in a legal forum, not this crap.

You are always free to pay a specialized lawyer.

 

[justalayman]

Where is your area? I just showed you RCW's saying that it should be in writing in WA.

Even with that simple statement you are wrong. The law says the disclosure MUST be in writing. Should is nowhere around.

 

[pditty8811]

Show me where the brokers fee (the section prior) is changed by anything, especially a buyers agent's fee. As I said, I never included a buyers agent's fee allowance in my listings. I was not going to expect my seller to pay a buyers agent who is bound by law to pay the seller as little as possible. Kind of having the fox guard the henhouse.

Says here bud:

"PARTICIPATION IN MLS. Seller agrees that the brokerage fee may be shared by Broker with any cooperating broker who participates in the sale per the following compensation schedule:"
Buyer’s Agent % of the sale price;

This is allotting a percentage to a buyer's agent, from the sellers pocket. Not the buyers pocket. The buyer only pays for it through the seller and and the sales price.

What the hell are you looking at?

 

[pditty8811]

Even with that simple statement you are wrong. The law says the disclosure MUST be in writing. Should is nowhere around.

The disclosure must be in writing. The whole dual agency must be disclosed in writing and so must compensation. Nowhere does it say that dual agency and commission is assumed, as you say.

 

[justalayman]

The disclosure must be in writing. The whole dual agency must be disclosed in writing and so must compensation. Nowhere does it say that dual agency and commission is assumed, as you say.

You are the one assuming their is a dual agency involved, not me.

 

[justalayman]

Says here bud:

"PARTICIPATION IN MLS. Seller agrees that the brokerage fee may be shared by Broker with any cooperating broker who participates in the sale per the following compensation schedule:"
Buyer’s Agent % of the sale price;

This is allotting a percentage to a buyer's agent, from the sellers pocket. Not the buyers pocket. The buyer only pays for it through the seller and and the sales price.

What the hell are you looking at?

You are the one that said of there is no buyers agency fee the seller pays less in total selling fees. I gave you the section of a typical Realtors listing agreement so now, show me where it says the seller pays less in total brokerage fees if there is not a buyers agent's fee.


And again, I would not write a contract with a buyers agency fee split. If the buyer wanted an agent they can pay for it out of their pocket.


You just don't understand this entire system is the problem. You have something stuck in your head and due to that nothing else could be possible. You need to get off that stick you have up your butt and look around at other possibilities.

 

[tranquility]

What the hell does that say in bold?

PARTICIPATION IN MLS. Seller agrees that the brokerage fee may be shared by Broker with any cooperating broker who participates in the sale per the following compensation schedule:
Subagent (of the Seller) % of the sale price; Buyer’s Agent % of the sale price; Transaction Coordinator % of the sale price.
Participation in the MLS requires cooperation with at least one type of agency relationship as listed above.

Reread it. There is a "brokerage fee". As all have been telling you, one fee as contracted by the listing broker. It "may" be shared with a buyer's agent. If there is no buyer's agent, guess what happens to THE brokerage fee.