Sentences with phrase «subagency compensation»

At closing, subagency compensation is paid to Broker A. Broker S subsequently filed an arbitration request against Broker A, claiming to be the procuring cause of sale.

The panel's decision further advised that it was improper for REALTOR ® B to follow a procedure of inserting the amount of subagency compensation to be paid by the listing broker on any document provided to a buyer or a seller, because this is properly a matter to be decided by the listing and cooperating brokers at the time the offer of subagency is offered and accepted; and that preconditioning an offer to purchase on the listing broker's acceptance of a subagency commission greater than he had offered was a practice inconsistent with respect for the agency of the listing broker.

In following this practice, REALTOR ® B was, in effect, presenting a demand for a subagency compensation greater than that which REALTOR ® A, as the listing broker, had specified in the information filed with the Board's Multiple Listing Service.

REALTOR ® B responded that he had a right to negotiate with REALTOR ® A as to the subagency compensation he would receive for his work, and the amount he had put on the deposit receipt was the compensation for which he was willing to work.

The Hearing Panel's decision noted that REALTOR ® B was indeed entitled to negotiate with REALTOR ® A concerning subagency compensation but that such negotiation should be completed prior to the showing of the property by REALTOR ® B.

However, REALTOR ® B had ignored this information as published by the MLS and had, on two separate occasions, brought REALTOR ® A purchase agreements with copies of deposit receipts that provided for a different amount of subagency compensation to be payable to REALTOR ® B.

Not exact matches

If there was no agreement on the essential terms and conditions of such subagency, including compensation, there was no authority for REALTOR B to show the property or to procure an offer to purchase.

REALTOR ® B defended his action arguing that REALTOR ® A's refusal to reduce her commission by an amount equal to what she had offered other brokers for subagency services would have placed the seller in the position of having to pay an excessive amount of commission if he had accepted the offer agreeing to contribute to the buyer broker's compensation.