In the event the Coop amount offered
Who pays the Buyer Agent? The Seller or The Listing Brokerage? A Brokerage Fee may be contracted between the Seller and Listing Brokerage, in most cases the Listing Brokerage offers a portion of this compensation over the MLS to Cooperating Buyer Agent/Brokers. This is known as the Coop or Buyer Agent Commission. ( The “BAC” ).
This contracted Coop incentive is offered from Listing Broker to Selling Broker and is noted on the MLS Listing as the BAC. TheBuyers Agent is instructed to have a Buyer Broker Agreement, noting the amount of compensation that is required of the Buyer Brokerage for Buyer Agent services rendered. In the event the Coop amount offered over the MLS is less than contracted amount between the Buyer and Buyer Brokerage, some adjustments may be in order. Buying and Listing Agents are instructed to inquire if prospective clients have an Agent. A contracted / executed / signedexclusive representation agreement with a licensed agent.
Broker/Agents who do not inquire about an the exclusive agreement may be found in violation of the Realtor Code of Ethics. If contacted about their property, the Seller should also inquire as to whether the party to whom they are communicating is a licensed agent or whether the party is represented by a licensed agent.