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As others have mentioned, I would imagine your MLS has some sort of "history" screen for the listing which shows the change with a time & date stamp. If it doesn't and you don't have a copy of the listing showing the old co-operating compensation level then I would call up your MLS to see if they can provide you a history in writing showing when that change was made.
Once you have some proof, the next thing I would do is compose a very nice email to the listing agent telling them that you expect to be paid the original compensation amount. You are not responsible for this other agent's type-o's or procrastinations. You should be paid whatever compensation level MLS read at the time the contract was signed. If you get push back from this agent, I would call their broker. If you get push back from the broker, call your MLS and local Realtor board (if this agent is a member) and register a complaint. I know my MLS has levied some pretty substantial fines on agents who don't follow the rules they agreed to when joining the MLS.
In my MLS, there is a "history" screen that can be printed out for a listing that shows exactly when a change took place, so we could see that the "commission to coop broker" was changed (although not what the change was) on November 1st at 3:42 PM, for example. If you don't have that option, maybe your MLS could pull it up and give you something stating when the change was made.
In FL MLS, there is no a "history" to do that like yours, If I had not kept a copy, how could I prove the listing agent changed it?
What does the commission agreement say? In our state, we have a separate commission agreement that details commission splits, who's paying for what, etc.
We dont have commission agreement for buyer's agent with lisitng agent or seller. Do we? In FL?
In FL MLS, there is no a "history" to do that like yours, If I had not kept a copy, how could I prove the listing agent changed it?
Call your local MLS office and ask them to print something out for you showing the time of change.
Quote:
Originally Posted by Ducksinlake
We dont have commission agreement for buyer's agent with lisitng agent or seller. Do we? In FL?
Hopefully someone from Florida can answer this for you. In Idaho, we have a form, but only use it on FSBOs, not on MLS listed properties. So every state is different.
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In Florida, at least in my market, all new listings require a listing agreement to be filed with the local MLS which clearly stipulates the commissions for both sides. I can't say for certain if it is different for the OP's local MLS.
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Quote:
Originally Posted by Lacerta
Call your local MLS office and ask them to print something out for you showing the time of change.
Good suggestion. The exception is when a realtor makes a listing change. Short of a price change, no guarantees that the local MLS will have a record of it. As I mentioned earlier, the OP should contact their broker first. After all, the broker/office will lose part of their cut of the commission (2.5% instead of 3% commission). I think the OP's broker should have a chat with the other broker to figure this out. Nobody likes to give up any part of their commission unless it is necessary to close the deal.
In post #9, 1insider related an almost identical situation and explained the outcome.
Last edited by dontaskwhy; 11-05-2013 at 10:42 AM..
Good suggestion. The exception is when a realtor makes a listing change. Short of a price change, no guarantees that the local MLS will have a record of it. As I mentioned earlier, the OP should contact their broker first. After all, the broker/office will lose part of their cut of the commission (2.5% instead of 3% commission). I think the OP's broker should have a chat with the other broker to figure this out. Nobody likes to give up any part of their commission unless it is necessary to close the deal.
In post #9, 1insider related an almost identical situation and explained the outcome.
Sure there are no guarantees that the OP's MLS tracks this, but many do, so it is worth asking. My area the MLS tracks ALL changes to any category. I think that is more the norm than not tracking anything but price changes.
I'm not saying to not have the brokers get involved, but I think having as much information as possible to have an intelligent conversation would be helpful. Something that shows that the commission was previously higher and was changed.
I guess you could have the brokers talk first, and then if the broker denies that it was listed higher, you could go to MLS afterward to see what you can find out. But what happens if the OP just read it wrong and missed that it really was just 2.5% all along? Then the broker has confronted another broker for no reason and looks stupid. I just prefer to have ducks in a row before calling someone to complain.
Good suggestion. The exception is when a realtor makes a listing change. Short of a price change, no guarantees that the local MLS will have a record of it. As I mentioned earlier, the OP should contact their broker first. After all, the broker/office will lose part of their cut of the commission (2.5% instead of 3% commission). I think the OP's broker should have a chat with the other broker to figure this out. Nobody likes to give up any part of their commission unless it is necessary to close the deal.
In post #9, 1insider related an almost identical situation and explained the outcome.
I definitely think the OP should contact their MLS first to see if there is a record of the change in the system. You're not going to get far with anyone without any proof that the commission rate was changed. Perhaps, the OP does not remember correctly. I wouldn't want to start a big stink about this only to have egg on my face in the end.
But what happens if the OP just read it wrong and missed that it really was just 2.5% all along? Then the broker has confronted another broker for no reason and looks stupid. I just prefer to have ducks in a row before calling someone to complain.
No I did not read it wrong, Actually I printed it out at the day when I place offer and I printed it out again when we ordered the appraisal, then I find out the commission has been changed. I just curious what happens if I had not printed it out.
From my experience as a FL Realtor, the commission is set when originally listed and any reduction of commission would require approval from both the seller's and buyer's agents. I would check with you broker first as all Florida Realtors work under a broker's license/office.
Not exactly. We have changed the commission after a deal fell through and the buyer's agent came back 2 days later and a new contract was entered but we had lowered the commission for the selling agent and they protested but we knew they would come back and we were handling both sides since the selling side was so badly handled that the buyer wants us to handle everythign for him but due to them bringing us the client we had to pay them but we found it reasonable not to give up 3% but 2.5% and since the property status had been changed in between from active with contract to active again it was legal.
Otherwise it is illegal to do so.
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