Agent commission - Shopping real estate agents

This is a discussion on Agent commission - Shopping real estate agents within the Other Real Estate Law Matters forum, part of the REAL ESTATE & PROPERTY LAW category; We're shopping real estate agents and one firm has provided a contract that reads (verbatim): "AGENT'S COMPENSATION. Seller agrees to ...

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Old Jul 11th, 2007, 04:00 PM   #1
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Confused Agent commission - Shopping real estate agents

We're shopping real estate agents and one firm has provided a contract that reads (verbatim): "AGENT'S COMPENSATION. Seller agrees to pay Agent a total fee of 3% of the gross sales price of the Property, or 4% if dual, which shall include the amount of any compensation paid by Agent to a cooperating agent as set forth in paragraph 9 below."

Paragraph 9 reads (verbatim): "COOPERATION WITH/COMPENSATION TO OTHER AGENTS. Agent has advised Seller of Agent's company policies regarding cooperation and the amount(s) of any compensation that will be offered to subagents, buyer agents or both. Seller authorizes Agent to (1) Cooperate with subsgents representing on the Seller and offer them the following compensation: 2% of the gross sales price. (2) Cooperate with buyer agents representing only the buyer and offer them the following compensation: 3% of the gross sales price."

Has the agent totally goofed in typing the contract and handed over her 3% to the cooperating agent (if acting as a selling agent only)? Does the contract really inform that the Seller will pay a total of 3% which shall include the amount of compensation paid by Agent to cooperating agent... or am I misreading? PLEASE HELP!!
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Old Jul 13th, 2007, 02:53 PM   #2
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Default re: Agent commission - Shopping real estate agents

Not a lawyer but why don't you just ask her how she thinks it works. You cannot take advantage of an error anyway.
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