“I was going to pay you this whole pizza, but instead I’m keeping a quarter of it for myself. Why? Because you can’t spell sociopath without Ci, that’s why.”
Because I have a listing right now, I am aware of the competition. Interestingly, I ran across listings from both Zillow and OpenDoor that significantly underpay Buyer’s Agents.
Note well: Brokers are advised to avoid discussing commission rates amongst each other, since free speech and free assembly don’t count if you’re in business. Whatever. I certainly have the right to talk about commissions all alone.
So first: I hate it that the Listing Agent pays the Buyer’s Agent. We say the seller does, but the lenders would never allow that, just as they don’t allow buyers to pay for their own representation. Instead, the seller pays the Listing Agent a lot more than he will typically earn, with half or more of that commission income going to the Buyer’s Agent. You say the buyer is getting representation. I say I am paying a brokerage fee: The price of the introduction. If you don’t see the Agency problem here – I am buying your fiduciary’s loyalty, aligning his interests with mine and my seller’s and against yours – the NAR would love to have you testify on its side in the upcoming lawsuit over this idiotic compensation scheme.
But second: I Corinthians 9:7-10: “Do not bind the mouths of the grunts on the ground who are delivering your dinner!” Buyer’s Agents don’t work for their brokers, they work for Listing Agents. Freelance. On spec. They live on dreams and promises, too many of which don’t come true. They drive hundreds of miles a Read more
