My investor clients are in escrow on a bank owned property in Sacramento. We received the good news this morning along with the bank's addendum for my clients to sign.
One of the forms that needed to be signed was in regards to my commission. I found this odd and wanted to find out if anyone else had run into this.
Here is what it said...
"Seller shall pay a real estate commission pursuant to the listing agreement between Seller and Seller’s listing broker however, no commission shall be paid nor credit given, to a Purchaser who is a real estate licensee."
So if I am a real estate agent and I am making an offer in my name... I don't get paid a commission (with this particular bank)? Even if our MLS system says I do?
How can a bank offer a home for sale... list it on our MLS system.... then once the offer is verbally accepted... they tell you... oh by the way you are not going to get paid!
They could at least make a note on our MLS system so we know upfront!
That just doesn't seem right!
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