Comments on: Who pays the buyer’s agent? http://montrealrealestateblog.com/who-pays-the-buyers-agent/?utm_source=rss&utm_medium=rss&utm_campaign=who-pays-the-buyers-agent A fresh dose of the local market. Three times a week. Wed, 16 May 2012 08:32:42 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Tony http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4689 Tony Wed, 09 Mar 2011 22:13:48 +0000 http://montrealrealestateblog.com/?p=925#comment-4689 <a href="http://oaciq.com/sites/default/files/article/fichiers/non-exclusivecontract.pdf" rel="nofollow">http://oaciq.com/sites/default/files/article/fich...</a> Can anyone tell me why in montreal it seems agents are unaware of the non exclusive brokerage contract when it comes to selling a home. They act like they never heard of it. Are any agents willing to use it and list a home on MLS under this contract? http://oaciq.com/sites/default/files/article/fich…
Can anyone tell me why in montreal it seems agents are unaware of the non exclusive brokerage contract when it comes to selling a home. They act like they never heard of it. Are any agents willing to use it and list a home on MLS under this contract?

]]> By: curious http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4438 curious Wed, 05 May 2010 03:59:30 +0000 http://montrealrealestateblog.com/?p=925#comment-4438 It is important for agents to explain these things to the seller up front to avoid the confusion in the same manner as they are required to explain all the sellers and brokers rights and obligations. Buyer 456 why do you lowball, and what do you mean ie:offer a really low under the market value price, just in case the seller or agent is desperate, and if so what do you base it on percentage off, round figures, etc. just curious It is important for agents to explain these things to the seller up front to avoid the confusion in the same manner as they are required to explain all the sellers and brokers rights and obligations.
Buyer 456 why do you lowball, and what do you mean ie:offer a really low under the market value price, just in case the seller or agent is desperate, and if so what do you base it on percentage off, round figures, etc. just curious

]]> By: Deya Bautista http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4425 Deya Bautista Sat, 24 Apr 2010 15:41:33 +0000 http://montrealrealestateblog.com/?p=925#comment-4425 Andrei, It is just a matter of being able to work with different personality types. Some buyers take longer than others. As agents we need to have the savoir faire to be able to finish a transaction with buyers or seller.It doesnt always happen the way we want, sellers may want to drop off market, and buyers decide to take a break only to go buy later with another agent. It happens. A contract will help you to sign it, but make sure you do TELL your buyers that the document is not compulsory...so you dont look like a liar when they find out. Andrei,
It is just a matter of being able to work with different personality types. Some buyers take longer than others. As agents we need to have the savoir faire to be able to finish a transaction with buyers or seller.It doesnt always happen the way we want, sellers may want to drop off market, and buyers decide to take a break only to go buy later with another agent. It happens. A contract will help you to sign it, but make sure you do TELL your buyers that the document is not compulsory…so you dont look like a liar when they find out.

]]> By: Deyanira Bautista http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4424 Deyanira Bautista Sat, 24 Apr 2010 15:33:39 +0000 http://montrealrealestateblog.com/?p=925#comment-4424 Buyer 456, It is not a matter of agreeing with the agent or not. It is the law that dictates it. Would the seller have received only ONE offer by his listing agent, then the drop of the brokerage fee comes into place. But because there were two offers - one with an agent and one without, it will be discriminatory to choose one over the other because of the discount, to avoid those types of scenarios, the law applies to it. Buyer 456,
It is not a matter of agreeing with the agent or not. It is the law that dictates it. Would the seller have received only ONE offer by his listing agent, then the drop of the brokerage fee comes into place. But because there were two offers – one with an agent and one without, it will be discriminatory to choose one over the other because of the discount, to avoid those types of scenarios, the law applies to it.

]]> By: buyer456 http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4421 buyer456 Thu, 22 Apr 2010 07:58:24 +0000 http://montrealrealestateblog.com/?p=925#comment-4421 JustSold. I would not agree with your agent. It seems like you should be paying 3% not 5% if the agent sold it without another agent. You can refuse offers and also renegotiate with your agent. Let the listing agent know you do not want to sell if you're paying 5% or demand a higher selling price to cover the difference. As far as agents go. When I buy I generally don't get an agent to represent me. When you go directly to the listing agent you can probably negotiate a better selling price. They often do renegotiate commissions with their client when they don't have to pay another agent . I have had agents drop their commission rate to make the sale. It really depends on how much demand there is and how desperate the agent and buyer are to make the sale. I always low ball offers. It really depends on your mindset. If you have an abundance mindset then you can move on to the next home easily. If that is the home you really want you may have less options. JustSold. I would not agree with your agent. It seems like you should be paying 3% not 5% if the agent sold it without another agent. You can refuse offers and also renegotiate with your agent.
Let the listing agent know you do not want to sell if you're paying 5% or demand a higher selling price to cover the difference.

As far as agents go. When I buy I generally don't get an agent to represent me. When you go directly to the listing agent you can probably negotiate a better selling price. They often do renegotiate commissions with their client when they don't have to pay another agent . I have had agents drop their commission rate to make the sale. It really depends on how much demand there is and how desperate the agent and buyer are to make the sale. I always low ball offers. It really depends on your mindset. If you have an abundance mindset then you can move on to the next home easily. If that is the home you really want you may have less options.

]]> By: Deyanira Bautista http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4422 Deyanira Bautista Thu, 22 Apr 2010 03:10:40 +0000 http://montrealrealestateblog.com/?p=925#comment-4422 Yes, indeed. According to the ACAIQ's website: "The listing agent cannot reduce his compensation in order to favour his own buyer in a transaction, as this situation could constitute an unfair practice against a collaborator." That is why when multiple offer happens, the compensations goes back to the 5%. The following link explains it in detail. Here is the link: http://www.acaiq.com/cgi-bin/WebObjects/AAVisuel.woa/wa/aller?langue=2&article=4866 Yes, indeed.
According to the ACAIQ’s website: “The listing agent cannot reduce his compensation in order to favour his own buyer in a transaction, as this situation could constitute an unfair practice against a collaborator.” That is why when multiple offer happens, the compensations goes back to the 5%. The following link explains it in detail.
Here is the link: http://www.acaiq.com/cgi-bin/WebObjects/AAVisuel.woa/wa/aller?langue=2&article=4866

]]> By: JustSold http://montrealrealestateblog.com/who-pays-the-buyers-agent/comment-page-1/#comment-4407 JustSold Sat, 27 Mar 2010 19:12:09 +0000 http://montrealrealestateblog.com/?p=925#comment-4407 I just sold my house. When I listed it, my listing agent and I had agreed to 5% commission if it was shared with another agent, and 3% commission if she conducted both ends of the transaction. The house was on the market for a few short days: There was a bidding war: Buyer A has come in with an agent. Buyer B came without an agent. I assumed of course, during my calculations that the 3% commission applied to Buyer B's offer. During the negotiating process between the two offers, my agent tells me that there is a LAW (in Montreal) stating that if there are multiple offers where one bidder has an agent and the other does not, that she cannot honor the 3% discounted commission. I am told it is a LAW. Can anyone confirm or deny without a doubt this story? Remember, this is Quebec. Is anyone familiar with this supposed LAW? I just sold my house. When I listed it, my listing agent and I had agreed to 5% commission if it was shared with another agent, and 3% commission if she conducted both ends of the transaction.
The house was on the market for a few short days: There was a bidding war: Buyer A has come in with an agent. Buyer B came without an agent. I assumed of course, during my calculations that the 3% commission applied to Buyer B's offer. During the negotiating process between the two offers, my agent tells me that there is a LAW (in Montreal) stating that if there are multiple offers where one bidder has an agent and the other does not, that she cannot honor the 3% discounted commission. I am told it is a LAW. Can anyone confirm or deny without a doubt this story? Remember, this is Quebec. Is anyone familiar with this supposed LAW?

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