Listing Broker question

mjlbAugust 17, 2013

If I visit an open house conducted by one listing broker, but make an offer when a new listing broker has the listing, is there some sort of commission-sharing between the listing brokers?

I realize that as a buyer, it doesn't really affect me, but I'm curious. Thanks!

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rrah

No, not unless you make your offer using the first listing broker.

Based on what you said, my assumption is that one broker/company had the property listed and did an open house. At a later date the listing expired and a new broker/company re-listed the property. In cases like this no commission is owed to the original broker for any sale.

    Bookmark   August 17, 2013 at 5:40PM
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mjlb

Thanks, rrah.

    Bookmark   August 17, 2013 at 10:00PM
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c9pilot

Actually, sometimes there are agreements made for this situation, but not always.
If someone looks at home with the first broker, then buys the home within xx days (often 30-90 days, depending on how it is written), they will get the sale and the commission. Usually there has to be a list of names associated, which is why they want you sign in at the open house.
More often, this is to prevent a seller from cheating a broker towards the expiration of a listing, if he/she whispers to a buyer that if they just wait xx days, the listing will expire and they will discount a certain amount and they will avoid the commission that the broker worked hard for, marketing and such. FSBO sellers do this, too, because they might have a list of people who were interested, but never made an offer, and then the FSBO decides to list.

    Bookmark   August 18, 2013 at 9:36AM
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linda117117

Actually, sometimes there are agreements made for this situation, but not always.
If someone looks at home with the first broker, then buys the home within xx days (often 30-90 days, depending on how it is written), they will get the sale and the commission.

This has more to do with a buyer approaching the home owner than agents. Once a listing has a new MLS contract with another agent, the clause is void.

    Bookmark   August 21, 2013 at 8:49AM
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