Marc White

Karl, In North Carolina, we do things a little different. The answer to your questions is that the seller is technically responsible for the commission. No matter where the money is coming from (your pocket) it is still paid for by the seller. You will find this on the closing statement (aka. the HUD statement) on the back page, top line. When you sign our state's buyer's agency agreement, you do agree to pay your agent a certain commission rate. If your agent and the house you are trying to buy is part of the MLS, there is a compensation agreement between the buyer's agent and the listing agent. It is an enforceable agreement between them, through the MLS.
If the house that you are looking at has a commission rate that is less than the amount on the buyer's agency contract that you sign, the agent must disclose this information to you. Unless you and the buyer's agent agree to the reduced commission amount, you are responsible for paying them the extra amount. If have not heard of many cases in the Carolinas where this has been a problem. And in all of my contracts, this "clause" is written in; and if the need arises, will reduce my commission to the amount offered for compensation from the sellers. I hope this helps...

*I am not an attorney, information is deemed reliable but not guaranteed. You are from another area and every area follows different Rules and Regulations. A local attorney could give you a definite answer. - Wed Jun 4 2008, 08:52