Selling Broker Commission $1

By
Real Estate Agent with Village Real Estate Services, Inc.

 What do you do when you see the commission offered is $1?

Let's say you've been sending listings to a prospective buyer for months.  They've finally gotten pre-approved and want to start going to look at houses.  They give you a list of the homes they want to see.  By chance, while checking availability, you notice that the commission offered to the Selling Office is $1. 

This presents quite a dilemma.  How can anyone honestly work for $1?  That won't even buy more than a few miles worth of gasoline.  So, how do you handle it?

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Marlene Bridges, REALTOR®  800 777-1775

South Orange County Real Estate Website

Orange County Seniors Lifestyles Blog

SRES - Seniors Real Estate Specialist®

CRS-Certified Residential Specialist®

President - Laguna Hills/Laguna Woods Chamber of Commerce

Marlene is a highly experienced  South Orange County CA REALTOR® specializing in residential Real Estate and the sale of Homes and Condos in South Orange County, California and Saddleback Valley cities of: Laguna Woods, Laguna Hills, Laguna Niguel, Laguna Beach, Rancho Santa Margarita, Lake Forest, Dana Point, San Juan Capistrano, San Clemente, Aliso Viejo, Mission Viejo.   

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Location:
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Rainer
17,916
Morgan Brown
Inman News

Hi Marlene,

What a dilemma.  It does seem like the agent wants to earn both sides of the transaction.  I think you did the right thing, show it to them in good faith, and consider the options above.  I am going to share this scenario with a few people I know as it is highly instructive in ethical decision making in business.  Thanks for sharing!

May 20, 2007 01:15 AM
Rainmaker
193,316
Marlene Bridges
Laguna Homes|Laguna Condos|Laguna Real Estate
Village Real Estate Services, Inc.
Thanks Morgan.  It really does boil down to ethics.  Thanks for sharing this with your colleagues.  I'd love to hear back from you.
May 20, 2007 01:20 AM
Rainer
5,078
Cheri Rayas
CRS
Millwood Realty
I agree, a BAA will protect you on your commission.
May 27, 2007 11:04 PM
Rainmaker
323,416
Jeff R. Geoghan
Marketing VP & Coach
Coldwell Banker Select Professionals
I agree with Donna Harris on this - just be upfront with the buyer and have you BA signed!
May 27, 2007 11:16 PM
Rainmaker
193,316
Marlene Bridges
Laguna Homes|Laguna Condos|Laguna Real Estate
Village Real Estate Services, Inc.
Cheri and Jeff - I agree a BAA will protect your commission.  However, do you think that the listing agent is really performing his/her fiduciary responsibility to their clients?
May 28, 2007 09:51 AM
Anonymous
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Rainmaker
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Marlene Bridges

Laguna Homes|Laguna Condos|Laguna Real Estate
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Additional Information

Marlene Bridges Orange County California Real Estate, Laguna Homes, Laguna Real Estate, Laguna Condos

Marlene Bridges, Realtor®

Certified Residential Specialist®

Seniors Real Estate Specialist®

Real Estate Services

Orange County, California

(Area surrounding Disneyland)