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About commissions: February 2009 Archives

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If We Want to be Respected as Advisors, We Need to Stop Being Paid Like Salespeople

By Mollie Wasserman on February 24, 2009 11:43 AM 0 Vote 0 Votes

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If we are going to be regarded and respected as fiduciaries, we need to stop being limited to a salesperson's compensation.

There has been a lot of discussion of late on real estate blogs regarding buyer agency and the plusses and minuses of working in a buyer agency-only firm (Exclusive Buyer Agency) versus practicing buyer agency in a brokerage that also includes seller agency.

The main theme around these threads is how to get the consumer to trust, and thus demand, their own representation. The proponents of Exclusive Buyer Agency argue that the problem of trust would be eliminated if the public could understand the advantages of having an entire office that just practices buyer agency. Practitioners of buyer agency in traditional brokerages (those that have both buyer and seller agents in the same firm) argue that with the advent of designated agency, practicing buyer agency in a traditional firm no longer presents a conflict of interest.

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