Thank you, Senatorii, for the compliment and for the vote of Best Answer. I'm glad you received some great answers here and that you have a broker you're comfortable with. Best wishes for a quick sale and with finding your next home - Ted

Lee,

Apology accepted. BTW, I gave you a thumbs up on that last one.

I failed to be considerate of you. I failed to understand that you are part of the community and I have realized the eminent truth that the community is made up of many types of people, just like you, with different backgrounds, knowledge and beliefs. I now know that I need to be considerate of others and to not attack other community members. I know to be respectful at all times.

On the internet, there is no such thing as mere footprints.

Rock on Senatorii.

Lee,

Sorry to beat a dead horse, but I find it interesting that you now have deleted all of your responses - even your rude ones. Are you now trying to cover your tracks? I thought you said you stood by your answers and "humour?"

I was wrong. Sorry for the exercise in futility.

Lee,

It's funny how you responded. First off, it's not that I "felt" attacked - I was attacked by both you and your buddy Hank. There was no humor involved at all. I didn't feel disrespected - I was disrespected. You said I lied (by not believing that my Broker wrote the stipulation) and that I was in some fantasy world for asking such a question. Hank, well his answers speak for themselves - again no humor at all, not a perception of attack, but pure attack. Not a feeling of being disrespected, but actually being disrespected.

First, nowhere in any of the responses from either of you do you uphold the guidelines of this community. Someone who clearly is not an agent or broker asked questions and was attacked for asking the questions. If to be attacked is the response - what is the purpose this site?

So much for being considerate, recognizing people's different backgrounds and knowledge. Secondly, you say that this site is to foster dialog about real estate. Where in any of the answers by either you or Hank did you contribute to anyone's understanding of the issues or questions? How did either of you foster helpful dialog? Thirdly, you say that (you, as a consultant) and this site are here to offer a disproportionate benefit to the fee paid. What benefit did you (and Hank) bestow upon me or anyone else in this community? The cost was free, but your (and Hank's) responses were unprofessional, unhelpful, rude, distasteful, nasty and ugly. Looking at it from your cost benefit analysis, it would appear to me that you are "in the hole" - you owe me money - for the negative benefit you both provided.

No response is necessary - just my thoughts, beliefs and feelings.

Ted,

Thanks for your answers. I only have two comments on them:

A1. Thanks - I know what it is, my question was more about whether the 90 days was "normal" for Atlanta. But it appears that there is no "standard" for anything, so no problems - I understand that there will be no answer to the question.

A4. Thanks - I was referring to Section 5 of the Exlusive Buyer Broker Agreement (2008 printing), not the Seller Broker Agreement. At least in the version we received, Section 5 is where WE are obligated to pay the commission of 3% on the house we BUY if the Seller refuses to pay it to our Broker. Thus, that was my question - since we would be responsible for paying the 3% commission to buy the house - how would it interact w/ the rebate being offered by our Broker.

Thanks for the offer to represent us. We are pretty sure we will go w/ the Broker we contacted. Since this is our first home sale in Georgia (and will be the first purchase since 2001) our questions were more about what is "normal" in Metro Atlanta. It is not, unlike some other agents/brokers who have responded, b/c we have no faith in our Broker. It is b/c we truly don't know what is out there - what is "normal." As for any suggestion (not yours, Ted) that we ask our Broker what is normal, that is a little absurd - what else would s/he say?

Senatorii -

Clearly you are happy with your chosen broker so I'm puzzled as to why you felt compelled to post these questions. When one has full faith and confidence in a service provider they typically don't continue to solicit advice and opinions, especially in this case since s/he is reported to be so successful. Surely s/he has explained this to you? Something appears amiss here.

As far as you speaking with GAR, knock yourself out. While on the phone ask about their position on rebates and kickbacks. Also ask about the myriad of other improper, unethical and flat illegal actions taken by agents looking to survive in this business and what the ramifications are to both the public and the agent.

Skilled and experienced agents like myself, Lee and others have a clear ability to quickly identify and avoid buyers and sellers that don’t fully understand this business. Here’s a news flash – we get paid after successfully completing a sale, not for the time and expenses we incur as we go along. We get paid for our level of experience and knowledge of this business – something that comes from doing for years. If you want a flat fee agent, discount agent or rebate agent you have a wide variety to select from (as you have already discovered).

And as for your comment that “every business provides discounts”….again I have to ask, are you serious? I’d love to know what that means and what it is that you do for a living. Never mind – strike that as I’ve already spent too much time on this.

Hank and Lee,

I am a litle surprised by both of your comments. You both claim to be professionsals, yet apparently feel that someone insults you (and your profession) by asking questions about fees and discounts - that were raised by the broker (not the client). Look at your posts. I dare say they are anything but professional. Is this how you market to clients? By the way, every profession, every business provides discounts. And, thank you for asking - yes, my broker DID write the sitpulation. And, s/he is an extremely well known broker in Atlanta, who, based on the statistics I have seen, probably sells more homes each year than the two of you have - combined - over the past decade. Good luck w/ your "professional" careers. I think I will be sending a note to the GAR too, asking them to look into whether it feels your behavior on this website meets the standards of being a member of the association in Georgia. Remember, it is a privilege, not a right. Based on your concerns that you are in a profession (I agree with you on that point), I'm sure you both will agree that this is the right course - after all, you need to maintain the professional appearance of all members of the GAR.

Here's the answer Senatorii - bah bah bah...bah bah bah...rebate...blah blah...1%...bah bah bah....GAR form....blah blah bah bah....expired listing at best....then maybe you "smarten up" and stop treating this like amatuer hour.

There's nothing more to add - enough already with everyone trying to provide answers to these ridiculous scenarios! Is there a reason your "skilled" agent hasn't explained this? Stop already!

BREAKING NEWS - Buddha's head just exploded!

Senatorii, if you are considering listing a home for sale in the Atlanta area, INSIST that your agent order a HomeScenes.com Virtual Tour and a HomeScenes.com yard sign that tells drive-bys that there is a virtual tour on the Internet!! Homes for sale with pictures and virtual tours are seen more often and sell FASTER! Successful listing agents use professional virtual tours! In this market you need all the exposure you can get! Not every agent is using high tech marketing tools...do your homework!

Hi Senatorii - I sell the Atlanta metro area and am familiar with the 2008 GAR forms. I'll try to answer each of your questions and keep them brief. Note: You may be confusing the "Exclusive Seller Listing Agreement" with the "Exclusive Buyer Brokerage Agreement." They are two separate agreements.

A1 - The 90 day protection period refers to a period of time after the listing either expires, is withdrawn or terminated. It protects the agent's ability to collect a brokerage fee should you attempt to work with a buyer that was previously introduced or shown your home. This provisions does not apply should you re-list with a different agent/broker and either that agent or another buyer's agent brings the original buyer back to make an offer.

A2- Rebates are sometimes offered by agents to their clients who plan to sell and buy. This can be a win-win for everyone. I'm not an attorney but based upon the wording you stated, I do not necessarily see a problem with it if you agree with the rebate concept and the caveats attached to it.

A3- For an agent or Realtor to say that this practice or a particular amount or percentage is "standard" would get someone in trouble with the real estate commission (due to anti-trust rules).

A4- Commission is addressed under Section 7 of the listing agreement (not sec. 5). Whatever commission amount that you agree to under para. 7.A. would be your total responsibility in the event you sold your home with or without your listing agent's involvement during the listing period or the protected period. Most agents will co-op or offer a portion of this as an incentive to other buyer's agents (but the practice is not mandatory). The co-op amount will be specified under para. 7.B. The "3%" that you are referring I believe pertains to the special stipulation that your contemplated listing agent wrote for the buying side and basis for determining the rebate under the Buyer Brokerage Agreement, should you also buy a home with him/her.

A5- Other variations of rebate programs? Most likely. Brokerage fees are negotiable. Whatever the parties can mutually agree on is acceptable.

If you are still interviewing agents and brokerage companies, I would be honored to interview for the opportunity of serving all of your Atlanta real estate needs. Give us a call or send us an email. Warm regards - Ted

Hey Lee - that one made me laugh out loud. Let me see if I can negotiate a rebate with an interpreter so that I can fully grasp what that all means....anyone out there willing to do it for 1% and rebate me back 2% and guarantee the sale of my termite infested home? Anyone?

I have to think that some of these posts are jokes - bored writers sitting home on strike...

Shopping agents and using cost as one of the primary decision makers will bite you. It's my experience that you get what you pay for - if an agent relies on cutting commissions and giving "rebates" I would think that should raise a flag, no? Do you seriously think that this agent is going to effectively market your home and spend the time and money required to get it sold? You're asking questions about rebates on the home you buy - I wouldn't worry abut that as if you have to sell your existing home first odds are you'll have ample time to research answers to that.

Using an agent based on fees in this market will cost you. Your home will sit, likely expire, be relisted and on and on. If you do get it sold, do you think this agent will properly scrutinize homes for you to buy? Most likely not as they are "rebating" you and not getting the typical commission. Good luck with this agent during research, negotiation and any difficult situations that might arise! That "rebate" will cost you in ways you don't even know about!

It's easy to discount what professional agents do everyday - the public has the impression that all we do is put signs in the ground and cash checks. Professional agents earn every dollar, like other disciplines the true professionals don't have the need to discount - we demonstrate our value and our clients understand what we do for them.

Hi Senatorii,
Good questions, I'm not quite sure what you mean by a "90-day protection period" in the listing agreement though. The listing agreement has a minimum listing period of 90 days but in this market, realtors try to get longer listing periods to compensate for the slower market. You still have the right to cancel your agreement at any time but you will have to pay $25 per listing service (usually two, FMLS & MLS) to withdraw the listing plus the agent could ask you to pay for any marketing expenses that they incured while having your property listed. The exclusive buyer brokerage agreement time period seems normal considering that they are probably allowing for the time it takes for you to sell your home first. As with the listing agreement, the buyer brokerage agreement can also be terminated at any time and that is why the rebate is taken off of the second sale, not the first, just in case you change your mind about purchasing a home through them or your circumstances change. Since sellers are the ones that pay the commission, when you sell your home you pay whatever commission you agreed to. Then when you purchase a home, your agent will take 1% less commission from the seller and therefore you can use that extra money to go towards your closing costs or take it off of the listing price or however you choose to use it. I'm sure there are other variations and there is no "standard" but it sounds like a fair deal to both parties involved and it is a common practice among realtors .

Commission rebates as part of a Buy/Sell program are not standard in the Atlanta area, but many agents do offer this as an incentive for you to use them for more than one transaction. My team offers a very similar program, with the 1% discount taken off the lower priced home. I think your agent's stipulation regarding the rebate sounds perfectly fair -- s/he is merely spelling out the exact terms to protect both you as the client and the agent.

As far as the protection periods, they are usually negotiable, but as long as you are planning to treat your agent fairly and with professional respect (namely, not using him/her to show you homes, and then go behind his/her back to purchase them with another agent or directly from the seller) then you should not worry too much about the terms. Try to negotiate them down if you feel you need to, but again, those terms are in the paperwork to protect both your agent and you.

Good luck!

I agree it is negotiable and should be crafted toward selling your home as that is the most challenging part, especially today. I would recommend making sure you can cancel the listing agreement at anytime without penalty. If you are not happy with the arrangement you should have the option of changing to another agent to market your home.

Senatorii,

There are no standards on commission or rebates. This practice is not allowed in the real estate industry. Some companies have policies that they like to follow, but all these options are negotiable.

In my opinion your probably better off getting your rebate from you listing agreement so you can price your home more aggressivly in a tough sellers market.