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Updated over 7 years ago,
Listing agent becomes buyer agent
This property is over $1M.
Prior to signing contract with listing agent "Tony" he says commission rate is 3% for buyer, 3% for seller (6% total). Pretty standard. Tony says if he sells it too, he will reduce the total to 4.5%.
Agreement is signed with a handwritten note added, in the commission clause, regarding this 4.5% scenario.
Tony says this is going to get the red carpet treatment here I am bringing in a second listing agent to give it loads of support. Enter "William" now he's also a listing agent for the property. Two listing agents.
Tony puts up a House For Sale sign and on the first day a neighbor calls the phone number on the sign. Neighbor has no buyer agent. William gets taken off as a listing agent and he becomes buyer agent.
Deal is getting close to mutual acceptance.
Seller thinks this meets the criteria of getting 4.5% and mentions that to Tony who says no way.
Seller talks to a friend with years of experience as an agent, who agrees, and suggests that Seller reach out to Tony's managing broker.
Thank you for any feedback.