Open house and agent commission agreements

By
Real Estate Agent with Adkins Florida Group, Keller Williams

This afternoon I held an open house in Bradenton, Florida for a property that is listed by another agent within my same brokerage. During my open house I had a few Realtors drop by and a question arose: How does one handle showing property that one is not listing when either buyers whom already have representation or Realtors that may bring a buyer at a later date show interest in the property?

This question vexes me and I have now come up with a few possible answers:

1. Before showing property under these circumstances have an agreement with the listing agent that if you effect procuring cause during your open house then there is a percentage split on the listing agents' commission.

2. If this type of agreement cannot be reached then do not offer to show that specific agents' properties.

3. Locate an agent whom has listings that meet your desires and procure an agreement with that agent that allows for a commission split based on the above scenario before any open house is scheduled.

The above situation I feel is one that happens mostly to agents who are just beginning a career in Real Estate. The reason I say this is that once you have your own bank of listings there would be no need to show other agents' properties.

What do you think?

Thanks,

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Rainer
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Tammy O'Brien
Century 21 Baytree - Melbourne, FL

Hi James!  I AM a new agent and this question is very timely for me, as I have no listings and would like to hold some open houses in my area.  I am looking forward to hearing more on this topic! 

Thank you!

Sep 30, 2008 10:13 PM #1
Rainer
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James Adkins
Adkins Florida Group, Keller Williams - Bradenton, FL
BA, CDPE - Realtor

Tammy,

 

Thank you for posting your thoughts to my blog. I will definitely have more to say on this topic as it is something that is perhaps not set up properly for all REALTOR's at this point.

James

AdkinsFloridaGroup.com

Oct 01, 2008 08:24 AM #2
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Rainer
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James Adkins

BA, CDPE - Realtor
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