buyer broker vs buyer agent?

[trentdejong]

Originally Posted by DavePautsch

shellytc...I tried to rep you but have to spread it around first! Great post.

Real estate licensee - passed the test, paid the fee
Realtor - licensee who is a member of the National Association of REALTORS - Code of Ethics training, can be held accountable by local Board for violations of the COE.
Agent - real estate licensee who is acting on behalf of a client in a transaction (implies fiduciary duties to their CLIENT)
Broker - varies from state to state; but generally a licensing status
Principal Broker - in Oregon a Broker who is licensed to supervise other brokers (which is what many other states call just a broker)...also a licensing status
Real Estate Professional - what we should ALL be striving to be in this career field!

great point

[shellytc]

Originally Posted by appoloosa

As a semi-retired agent I always wondered about this buyers broker/sellers broker, yes the seller does pay your commission, however, they are not going to pay you a red cent unless you get them a buyer and sell the property. Here's another thought to ponder, when the seller says "I want this much money, just add your commission to that number" ....hmmm who's paying you now?

appaloosa, i'm confused? are you suggesting that the agent has some duty to the principle that is paying? it is clearly stated in stated in Virginia that compensation IS NOT a determining factor for creating a client relationship.

and I have never had a seller say "just add your commission" to me." suppose it couldhappne, just hasn't happened to me.

shelly

[rjrcm]

Buyer's agent and Buyer's broker can be used interchangeably. I represent buyers as their buyer agent (I'm not a broker), however, our agency disclosure form refers to the "buyer's broker" when discussing my agency relationship with the buyer. The form defines Broker as my real estate company and designates me as acting for them as a licensee employed by the company.

[Zarathu]

You need to contact an agent from Colorado. Every state's real estate laws are different.