[WSBARP] real estate commissions

[Kary Krismer]

That sounds like what Redfin has done for years.  It probably does have 
to be done as closing costs, if there's a loan, but I'm hardly an expert 
on such matters.  If I've rebating I'll always ask the lender what's 
allowed.

BTW, the new Form 41C that went into effect in October has a choice to 
credit part of the commission to the buyer or to reduce the commission 
(effectively benefiting the seller under the new listing forms).  It 
also covers situations where no compensation is offered in the listing, 
and where the compensation is less than the buyer's agency agreement.  
And if that's not enough, there's an "other" section where you can write 
in whatever you want.

Kary L. Krismer
206 723-2148

On 11/9/2022 3:42 PM, Craig Gourley wrote:
>
> Further clarity on my facts.  Property is listed by the “ listing 
> agent” and seller offers whoever brings a buyer a larger than normal 
> commission.  My client is not the “listing agent” but represents the 
> buyer thus he is the “ selling agent”.  Buyer wants his agent to 
> rebate him (the buyer) the “ bonus” portion of the selling agents 
> commission.  I suppose this could be considered a fee sharing.  What 
> if the selling agent offered to pay part of his client’s ( buyer’s) 
> closing costs?   Same result as a cash payment? I agree that the safer 
> way would be to offer the seller a lower commission in exchange for a 
> lower price but for some reason they want to do it the hard way.   
> Thoughts?
>
> *From:* wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Kary Krismer
> *Sent:* Wednesday, November 9, 2022 2:15 PM
> *To:* wsbarp at lists.wsbarppt.com
> *Subject:* Re: [WSBARP] real estate commissions
>
> It would help if you would define "selling agent." Traditionally that 
> is not the "listing agent" unless there is no separate buyer's agent.  
> The term "selling agent" was used because the agent might or might not 
> be the buyer's agent.  I suspect though you mean listing agent because 
> Redfin has been rather famous for rebating part of their commission 
> when representing the buyer.
>
> I'm pretty sure there's no NWMLS rule against what you are asking, 
> assuming you meant listing agent.  Whether that's allowed by RESPA or 
> a buyer's lender would be another matter. It is okay for a buyer's 
> agent to rebate part of their commission, but the lender might have 
> limits on that.
>
> Kary L. Krismer
> John L. Scott, Inc.
> 206 723-2148
>
> On 11/9/2022 1:55 PM, Craig Gourley wrote:
>
>     Listmates.  I am not familiar with all of the rules governing real
>     estate agents so hopefully those of you who work that arena can
>     educate me.   Client wants to know if a selling agent can
>     give/rebate the buyer part of the selling agents commission.  On
>     its face I don’t see an issue unless there is some sort of
>     prohibition on fee sharing like with attorneys or it violates some
>     MLS rule. Thanks in advance!  Craig
>
>     *Gourley Law Group*
>
>     Snohomish Escrow
>
>     The Exchange Connection
>
>     Trustee Services of Washington, Inc
>
>     1002 10^th St Snohomish, WA 98290
>
>     PO Box 1091 Snohomish, WA 98291
>
>     360-568-5065 Craig at glgmail.com
>
>
>
>     ***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
>
>     _______________________________________________
>
>     WSBARP mailing list
>
>     WSBARP at lists.wsbarppt.com
>
>     http://mailman.fsr.com/mailman/listinfo/wsbarp  <https://nam04.safelinks.protection.outlook.com/?url=http%3A%2F%2Fmailman.fsr.com%2Fmailman%2Flistinfo%2Fwsbarp&data=05%7C01%7Ccraig%40glgmail.com%7C5737d140fdc84c5e080308dac29ff81b%7Cebbf337fee3b4dd681791c2ed72652b1%7C0%7C0%7C638036289584442872%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=HX%2BHzp8oINdbWWffiESinJnHpMetuUyEDTPEAEFUnf8%3D&reserved=0>
>
>
> ***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
>
> _______________________________________________
> WSBARP mailing list
> WSBARP at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbarp
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20221109/bf13e07a/attachment.html>