"In this case, a transaction became complicated when multiple buyer's agents and a listing agent miscommunicated about compensation. Somewhere between the initial outreach, the offer, and the documentation, key information about commission expectations went missing. The breakdown didn't just cause frustration. It exposed a deeper issue that every agent must face head-on: How do we maintain fiduciary duty when others in the transaction don't follow proper protocol?"
"One of the buyer's agents expressed that had they known the seller wasn't offering buyer-side compensation, they wouldn't have shown the property. That statement, while perhaps said in frustration, highlights a critical legal and ethical concern. Steering deciding what homes to show based on compensation rather than client needs is not only unprofessional but illegal. Agents must base every recommendation on the buyer's best interest, not their own compensation."
"Even well-intentioned agents can make missteps when trying to smooth things over. In this scenario, the listing agent, hoping to keep the deal together, went back to her seller to amend the agreement and offer compensation that wasn't part of the original listing. The intention was good, but the execution undermined the seller's original wishes and created confusion about representation and value. When agents absorb responsibility for others' mistakes, they risk damaging client relationships and credibility."
A transaction became complicated when multiple buyer's agents and a listing agent miscommunicated about compensation. Key information about commission expectations was lost between initial outreach, the offer, and the documentation. One buyer's agent said they would not have shown the property if they had known no buyer-side compensation was offered, raising legal and ethical concerns about steering. A listing agent returned to the seller to amend the agreement and offer compensation not in the original listing, undermining the seller's wishes and creating confusion. Agents who absorb responsibility for others' mistakes risk damaging client relationships and credibility. Clear communication, documented agreements, and prioritizing clients' interests are essential to uphold fiduciary duty.
Read at www.housingwire.com
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