Posts Tagged ‘ buyer’s contract ’

Agent Success Newsletter, August: Mike Farmer

We are pleased to have Mike Farmer, Owner/Broker of Mike Farmer Realty in Savannah, GA as the featured real estate agent in the HomeGain Agent Success Newsletter for August.

Mike is also an AgentEvaluator member and a HomeGain Blog contributor.

In our exclusive interview, Mike discusses his strategies behind successfully offering and securing homebuyer representation with 24 out of 25 buyers.

Why and when should an agent get a contract with home buyers? What’s the best way to explain a buyer’s contract? What kind of commission is negotiated?

Listen to Mike Farmer’s advice and find out!

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Posted by: Jessica Gopalakrishnan on August 21st, 2008 under Agent Success Newsletters

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MLS Compensation; The Ugly Truth Today

House and Money

“Real estate compensation structures are wrought with problems, which could be effectively eliminated if the MLS-mandated offer of compensation were done away with.

Agent compensation is set by office policies that support a specific company’s fee philosophy and income. But the system doesn’t take into account how it affects consumers’ opinion of value received or how it can clash with other companies’ compensation policies.

These policies also contribute to uneducated agents blacklisting certain properties—either intentionally or unintentionally.

One major contributing factor to the compensation problem is that a buyer’s agent is paid according to the selling agent’s office policy. This totally disregards the buy-side agent’s office policy on compensation, the buyer’s contract with his agent and the seller’s best interests, which are to remove any barriers that may keep potential buyers from seeing their home.

One problematic result of the mandatory unilateral offer of compensation is the belief that the seller and his agent are the ones paying for the buyer agent’s fee. In reality, both the seller and buyer agents’ fees come from the negotiated sale price, and are deducted from the proceeds Continue reading this post

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Posted by: Jeffrey Bastress on October 24th, 2007 under MLS

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