VIVIANE ALBI…,  in Los Angeles County, CA

W-9 form Requirement from Listing Agent

Asked by VIVIANE ALBINI, Los Angeles County, CA Mon Jun 21, 2010

I don't understand why lately several listings on the Westside require Selling Agent to provide W-9 Form before submit offer from buyers. Do you have any idea about this?

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I have come across this, mainly with Coldwell Banker affiliated listing agents. It appears to be a company policy with them and is really no big deal. Your broker can easily provide you with a blanket W-9 (completed and signed by the broker) and you can copy and forward it with your offer. Remember, commissions are paid to the broker, not the agent, so the W-9 must contain the broker's information. Hope this helps.

Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
1 vote Thank Flag Link Mon Jun 21, 2010
My company requires a W9 form to be filled out prior to a closing when we are the listing brokers. I have been told it is required by the IRS (not a company requirement) when paying a commission to another company.

Their tax ID# needs to be given to the IRS (according to our accounting dept). Once we have their tax ID number on file, we dont require another form for future closings
0 votes Thank Flag Link Mon Jun 21, 2010
Does your company pay the commission or is it paid through escrow? If paid through escrow, and your company then reported the numbers on the W-9 to the IRS, wouldn't it appear that your company paid the commission? Wouldn't that give your company a write-off for funds they did not actually pay? It only makes sense when your company pays the cooperating agent directly.
Flag Fri Jul 1, 2016
I got a request for a W-9, told them I would provide it only to escrow. This is identity theft-sensitive information that should be safeguarded, not included with offers that could be faxed, emailed, copied and otherwise left unprotected.
0 votes Thank Flag Link Mon Jun 21, 2010
I have not heard of it being necessary before the contract is bi lateral. The W 9 Form is needed to pay the commisssion and should have nothing to do with the negotiation of the offer.
0 votes Thank Flag Link Mon Jun 21, 2010
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