BruceK
Moderator Emeritus
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The above discussion of the Sellers Broker paying half of 10% to the Buyers Broker highlights the silliness of the system. Astoundingly, the Seller is paying the Buyers Broker, and few seem to see that as odd. The Buyers Broker only makes a $ if the sale proceeds. The Buyers Broker is hopelessly conflicted. In practice some will, to their own detriment,do the right thing by their client,who owe a fiduciary duty, but some will surely yield to the temptation to do otherwise in the hunt for a $.
Far better if the Seller pays his/her Broker 5%,and the Buyer makes own arrangements to employ and pay a Broker if thought appropriate to do so.
Far better if the Seller pays his/her Broker 5%,and the Buyer makes own arrangements to employ and pay a Broker if thought appropriate to do so.