Who submits a commission statement before closing? The list or sale agent or both and to who do they submit it to?

Asked by Pathomes, Beverly, MA Wed Feb 23, 2011

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Ann Harris, Agent, Corona Del Mar, CA
Wed Feb 23, 2011
The commission is listed in the mls either agent or both can submit it to escrow. Generally the listing agent initiiatiates escrow opening. The escrow agent will simply ask what the commission is. Both agents (brokers)will recieive a document from escrow to be signed and executed at closing.
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davidwbrower, , Woodstock, GA
Wed Feb 23, 2011
Both agents complete a single commission agreement. Usually, the less lazy agent will complete it and send it to the other :-). It is an agreement between brokers not agents. Both agents are representatives of the broker and sign on the broker's behalf. There is one document. Either agent can submit it to the closing entity (title agency or closing attorney). A closer can not disburse the commission with out an agreement between the two brokers. If the other agent in any of my transactions says they will send it to the closing attorney, I will usually follow up with that attorney and confirm they have received it. If not, I send it myself. Not sure why a buyer/seller is asking this question, but i hope that answers it.
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Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Feb 23, 2011
In my experience, both, and it goes to the closing attorneys. I generally cc the other agent as well and send via fax so I have a "receipt" that it made it.

Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
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