Unexpected commission request from buyer’s agent after closing.

I wanted to drop a scenario for folks and ask “What would you do?”. I just closed on a house. I had a realtor with a signed brokers agreement. In the agreement it states that their commission for representing a buyer is 3%. Here is the exact language:

“I direct my agent to seek payment of the brokerage fee from the seller, and to request a 3% cooperative brokerage fee if less than 3% is offered. Agent reserves the right to terminate this agreement if Buyer selects a property where cooperating compensation amount is unacceptable, and Buyer chooses not to make up the difference.”

So, a couple days after we close I get a call from the settlement company and was told they forgot to collect a 0.5% for the buyers broker commission. This was the first time I was told the commission was under 3%. I had a 2 month close and never was it mentioned that the commission was 2.5%. We had been searching for a quite a while and it other homes we made offers or was interested in, it was mentioned to us that commission was under. We had always said we’d make up the difference, but it was disclosed when discussing an offer. So, given that info, what would you do?

submitted by /u/jamito02
[link] [comments]

I wanted to drop a scenario for folks and ask “What would you do?”. I just closed on a house. I had a realtor with a signed brokers agreement. In the agreement it states that their commission for representing a buyer is 3%. Here is the exact language: “I direct my agent to seek payment of the brokerage fee from the seller, and to request a 3% cooperative brokerage fee if less than 3% is offered. Agent reserves the right to terminate this agreement if Buyer selects a property where cooperating compensation amount is unacceptable, and Buyer chooses not to make up the difference.” So, a couple days after we close I get a call from the settlement company and was told they forgot to collect a 0.5% for the buyers broker commission. This was the first time I was told the commission was under 3%. I had a 2 month close and never was it mentioned that the commission was 2.5%. We had been searching for a quite a while and it other homes we made offers or was interested in, it was mentioned to us that commission was under. We had always said we’d make up the difference, but it was disclosed when discussing an offer. So, given that info, what would you do? submitted by /u/jamito02 [link] [comments]

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