Consumption and Real Estate
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#3 written by RedPersianKitty 1 year ago
The “ethical” or “right” thing to do would be to pay the buyer’s agent a commission. Did the agent that brought him by have you sign a one time showing/commission agreement? If not I guess it is up to you and how nice or greedy of a person you are. The buyer and his agent may have signed an agreement as well.
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I am Keith Gordon, broker for ADDvantage, a Florida flat fee MLS service. I have 25 years of brokerage experience and I think procuring cause needs to be looked at carefully.
The big question that determines procuring cause: Did this buyer’s agent show the home and did the actions of that agent directly cause the sale? Other questions: Who advertised the home on Craigslist? Why didn’t the prospect call you directly in the first place? Why did the buyer come back wihout his agent? Did you have a sign on your property? And if so, was is a FSBO sign or one that indicated you were flat fee listed?
This agent may end up arbitrating with your flat fee listing broker for the commission and in turn, may come against you per the listing agreement that you signed with that listing broker.
There may be a hearings (2 non-partial board members and 1 outside person) if the agent brings an action.
Keith Gordon
Flat fee MLS broker, for ADDvantage http://www.getmoreoffers.com