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  • April 19, 2009 at 1:58 PM #15523
    LarryTheRenter
    Participant

    Sorry newbie question here…Just came across an agent listing a house in carmel valley who had “receive 20% of my commission” if you buy the place….Is this legit or just if she is the sole agent on the deal??? Obviously you want the best agent you can to get you the lowest price which is best in the long run..If 2 agents are involved would you still get 20% back??

    Any red flags????

    April 19, 2009 at 2:07 PM #384170
    equalizer
    Participant

    Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition.

    April 19, 2009 at 2:07 PM #384821
    equalizer
    Participant

    Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition.

    April 19, 2009 at 2:07 PM #384684
    equalizer
    Participant

    Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition.

    April 19, 2009 at 2:07 PM #384636
    equalizer
    Participant

    Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition.

    April 19, 2009 at 2:07 PM #384438
    equalizer
    Participant

    Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition.

    April 19, 2009 at 2:36 PM #384641
    LarryTheRenter
    Participant

    thanks for the insight…appreciate your comments.

    April 19, 2009 at 2:36 PM #384175
    LarryTheRenter
    Participant

    thanks for the insight…appreciate your comments.

    April 19, 2009 at 2:36 PM #384826
    LarryTheRenter
    Participant

    thanks for the insight…appreciate your comments.

    April 19, 2009 at 2:36 PM #384690
    LarryTheRenter
    Participant

    thanks for the insight…appreciate your comments.

    April 19, 2009 at 2:36 PM #384443
    LarryTheRenter
    Participant

    thanks for the insight…appreciate your comments.

    April 19, 2009 at 2:39 PM #384448
    Coronita
    Participant

    [quote=equalizer]Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition. [/quote]

    This practice isn’t illegal in CA. Note though, you *may* get a 1099 at the end of the year for commission rebates.

    April 19, 2009 at 2:39 PM #384831
    Coronita
    Participant

    [quote=equalizer]Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition. [/quote]

    This practice isn’t illegal in CA. Note though, you *may* get a 1099 at the end of the year for commission rebates.

    April 19, 2009 at 2:39 PM #384695
    Coronita
    Participant

    [quote=equalizer]Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition. [/quote]

    This practice isn’t illegal in CA. Note though, you *may* get a 1099 at the end of the year for commission rebates.

    April 19, 2009 at 2:39 PM #384180
    Coronita
    Participant

    [quote=equalizer]Yes to all. Sounds like agent will offer 20% of buyers commission, 0% on sellers commission. In some states, the Realtor groups bribed the state officials to make full service mandatory for agents and commission kickbacks a crime (probably a felony with 5 year minimum mandatory sentence). This is NOT a joke.

    The big agencies really hate this practice because it would degrade the profession and cause commission price wars. Cant have competition. [/quote]

    This practice isn’t illegal in CA. Note though, you *may* get a 1099 at the end of the year for commission rebates.

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