Pending - How to adjust the co-broke commission

Dealing with co-broke commissions of listed properties

You may request the listing agent adjust the co-broke but you must be careful in the wording that you use as the NAR Code of Ethics article 16 prohibits using the terms of the purchase contract to attempt to modify the commission offered per the terms of the listing agreement.

NAR Code of Ethics Article 16, Standard of Practice 16-16
Realtors, acting as subagents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to subagents or buyer/tenant representatives or brokers nor make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation

To avoid being in conflict with this article, you should have a buyer agency agreement before inserting this verbiage into the Purchase Agreement.

"Buyer’s brokerage is declining cooperating compensation as offered per multiple listing service. Seller(s) to pay 3 percent buyer agency representation fee to purchaser at closing."

 

Key Works:  Co-Broke Commission, Discount Brokerage, Change Commission, Buyer Agent Commission