Which realty do we work with?

If we have been working with a realtor who has a house as a listing that we are negotiating on, and the contract expires between that realtor and owner, and the owner lists the house with another realty (as of today), who do we work with?  We were just about to agree on a price.  Who will get the commission?  Thanks
  • February 03 2009 - Long Island City
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Answers (3)

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By the way, the "broker" for each realtor typically takes a percentage of what the realtor receives, sometimes as much as 50%.  So that 3% really is only about 1.5% to your Realtor.  Subtract from that all the realtor's expenses....  gasoline, car maintenance, phone service, photocopies, ... and one can see that it is really not a good time to be a realtor if it takes 10 months or more to make a deal and you have to show 35 properties to close one sale.
  • February 03 2009
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You only work with YOUR realtor (the "buyers" agent).  If that "used" to be the seller's agent as well but the seller doesn't like that agent anymore, your "negotiation" probably has meant nothing so far.  If the seller is not happy with the agent, there must be some reason, and if you are so far from closing that the seller is not going to just close the deal, then you probably never had a deal.

So your agent can continue to represent you, but the seller will have someone else represent them.  From what you pay into the escrow account and the "loan" money; the seller receives that money and pays 6% to THEIR realtor, who MUST give 3% of that to YOUR realtor, unless the seller's agreement with their Realtor has different percentage values for the payment.  Of course the Escrow company could pay each of the realtors directly to avoid the seller walking away without paying.

That is the nature of "commission work"; you only get paid if you close the sale.  All the rest of the work you put in is "donated" (free).
  • February 03 2009
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What do you care about who gets the commission, you want the house right?  Let them deal with that issue.
  • February 03 2009
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