How do we split commission between buyer and sellers?

How do we split commission between buyer and sellers?

All of the ways a buyer broker can be compensated prior to July 1st will exist after July 1st. This includes, without limitation, scenarios where (a) the buyer broker being paid directly by the buyer, (b) the seller agrees to pay the buyer’s obligation to the buyer broker in the Purchase Agreement, and (c) the buyer broker is paid by the listing broker. As far as this last example, the only differences are that the listing broker cannot make the offer of compensation on the BLC® (or other BLC®-supported platforms) and the buyer broker cannot accept more compensation than was negotiated in the written agreement with the buyer. We encourage brokers taking this approach to use IAR’s Broker Compensation Agreement form. 


    • Related Articles

    • Why Can't I View Buyer Agent Compensation (BAC) on listings?

      The directive of the 2024 NAR settlement includes removing the practice of offering a unilateral blanket offer of compensation on listings from the Multiple Listing Service. For the BLC this means an adjustment to our Rules and Regulations to ...
    • Reporting Sale for Buyer Representation Only

      Reporting Sales when One Party was a Non-Member Licensee. When a sale involves both a member and a non-member licensee, the member may only report him/herself for one side of the transaction. When reporting a closed transaction where the selling ...
    • Adding Buyers/Sellers to a Transaction

      When a listing is added to connectBLC, the Listing Agent is automatically added as a transaction participant. The Listing Agent can immediately add the Seller as a transaction participant in order to start exchanging information and documents, and to ...
    • Collaborative Closing-Buyer Agent Side

      The most common requests for listing changes after a closing are the Sold Price, Listing Address, Listing Status, and List Agent and Co-List Agent and Buyer Agent and Co-Buyer Agent information. By introducing a collaborative process of checks and ...
    • Buyer’s Closing Costs Calculator

      Estimate the settlement and escrow costs a purchaser will incur in purchasing a home at a specific sales price. This calculator allows you to perform an analysis of typical estimated closing costs, prepaid items, and monthly payments for different ...