VIVIANE ALBI…, Real Estate Pro 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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4
Viviane:

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
http://shel-lee.listingbook.com
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
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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