commission sharing between brokers

Lucas

Broker 1 has a listing and 3% commission from seller, Broker 2 has the client..... 1) how do they share the commission? How can broker 2 ensure Broker 1 is only receiving 3% from seller. TY

ownpropertyph

Lucas Is the listing a house and lot or a preselling condo?

If it's a house and lot, you can ask the owner directly, I don't think it would be an issue to the selling broker if both brokers are licensed and trustworthy. If it's a preselling condo, broker 1 can show the commission rates of the developer.

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Alcordo_Realty

Lucas The commission is between 3-6%. The seller will agree with his broker on the actual percentage. The final commission is then divided equally between the seller's broker and the buyer's broker. The seller's broker controls the commission since it is the seller that usually shoulders that. To ensure that you (buyer's broker) get your commission I would have them sign an agreement stating such.