Disclosing commisson if asked (buyers agent, commission, contract, listing)

[illtaketwoplease]

Does a broker have to disclose the commission they are receiving if asked by a potential buyer ? Not just talking about the buyers agent but the sellers agent also ?

If someone was to ask a seller what they are paying (not another agent), anything illegal with that?

[MikePRU]

I do not disclose my commission to anyone. It's a private contract between myself and my client. If a buyer asks what co-broke fee a property is offering, I'm happy to tell them. My opinion is that what I'm being paid is entirely between myself and my clients.

How would you feel if a stranger walked into your office off the street and asked what you are being paid?

[illtaketwoplease]

I was more asking about the legality or requirement to disclose if asked. Agents seem to talk quite abit about commission rates - what they will or won't work for - so it's not a stretch to pose this question.

[Silverfall]

No a listing agent doesn't have to disclose a commission they are receiving if asked by a potential buyer. We don't even have to disclose the commission to another buyer agent. They are entitled to know what compensation they are being offered as a member of the MLS, and that's it.

You are free to ask the seller anything you want, but I think most would find it weird if you knocked on their door and asked.

[MikeJaquish]

We have to disclose to any client with whom we would be in dual agency.

[FalconheadWest]

The only thing that really has to be disclosed is if there is a Variable Fee and what the variable is for the fee to the seller to be different. You still don't have to say what the actual fee is.

[illtaketwoplease]

Anything restricting a seller from telling someone what they are paying if asked ?

[TexasHorseLady]

You mean what the seller is paying in commission, or did you mean restricting the buyer from telling what they're paying for the house?

In either case, I wouldn't think so. They might think you were rude and nosy for asking, however, and decline to tell you.

[FalconheadWest]

Originally Posted by illtaketwoplease

Anything restricting a seller from telling someone what they are paying if asked ?

A buyer and seller can say and do just about anything they want. It's an agent who is restricted from disclosing confidential information.

[NinaN]

I've never had a buyer ask. I can only imagine the reason for asking is to see if they can skim a bit off the top. No.