In article ,
says...
dadiOH wrote:
Default User wrote:

Kokonutty's post was in response to mine, directed at the original
poster.


OK, he corrected *your* misunderstanding.


Once again, you are incorrect. There's no misunderstanding on my part
whatsoever.

You've decided that you get to define terms, but that isn't the case. If
you'd like to use something more specific like, "fee-based buyer's
agent" or some such, that would be fine. However, you're incorrect as it
stands. That fact that get their money from a
split of the sales commission doesn't make them selling agents.

Brian


dadiOH did not define the terms. There is so much confusion about
who represents who and who pays who that in Texas, and I'm sure in
other states, specific Representation Disclosures must be made.

Go to http://www.capitol.state.tx.us and look up Tile 7 Chapter
1101. I'm sure other states also have online codes.

Here a few quotes from the Texas Code.
"Before working with a real estate broker, you should know that the
duties of a broker depend on whom the broker represents. If you
are a prospective seller or landlord (owner) or a prospective buyer
or tenant (buyer), you should know that the broker who lists the
property for sale or lease is the owner's agent. A broker who acts
as a subagent represents the owner in cooperation with the listing
broker. A broker who acts as a buyer's agent represents the buyer.
A broker may act as an intermediary between the parties if the
parties consent in writing. A broker can assist you in locating a
property, preparing a contract or lease, or obtaining financing
without representing you. A broker is obligated by law to treat
you honestly."

"IF THE BROKER REPRESENTS THE OWNER: The broker becomes the
owner's agent by entering into an agreement with the owner, usually
through a written listing agreement, or by agreeing to act as a
subagent by accepting an offer of subagency from the listing
broker. A subagent may work in a different real estate office. A
listing broker or subagent can assist the buyer but does not
represent the buyer and must place the interests of the owner
first. The buyer should not tell the owner's agent anything the
buyer would not want the owner to know because an owner's agent
must disclose to the owner any material information known to the
agent."

I suspect that Brian's "traditional buyer's agent" is legally a
*subagent* that legally represents the owner/seller.
As defined in the Code. "Subagent" means a license holder who:
(A) represents a principal through cooperation with and the
consent of a broker representing the principal; and
(B) is not sponsored by or associated with the principal's broker.

There are Buyer's Brokers .... and once again from the standard
required Texas Representation Disclosure ...

"If you choose to have a broker represent you, you should enter
into a written agreement with the broker that clearly establishes
the broker's obligations and your obligations. The agreement
should state how and by whom the broker will be paid. You have the
right to choose the type of representation, if any, you wish to
receive. Your payment of a fee to a broker does not necessarily
establish that the broker represents you. If you have any
questions regarding the duties and responsibilities of the broker,
you should resolve those questions before proceeding"