Open House Form for Buyers
Listing brokers always split their commission with buyer brokers. But what if the buyer represents himself – shouldn’t the buyer get that money?
The current practice is for the listing broker to pocket the whole thing (Realtors call this a “hogger”). And, if a buyer walks into an open house or schedules an appointment from an online ad, should the buyer forfeit their right to get their own agent to help them negotiate the deal? With little or no warning, that is exactly the practice in today’s residential marketplace. We want to level the playing field.
If you are in the market for a home, NEVER go to an open house and NEVER schedule an appointment with the listing firm (unless the broker signs this form) or you risk losing money and your right to representation. Here is a link to an explanation of the problem (click here). The following (linked) FORM is designed to help make it possible for buyers to represent themselves (we recommend that you at least get an attorney to review this form):
Agreement to Share Commission With Un-Represented Buyer (click here to download the form)
We have not tested this form and would like feedback from consumers who have used it or stories about problems that they have encountered.
NOTE: The second page of the form is a letter to the seller that informs them if you have encountered a problem with their agent.