Why Listing Brokers Must Give Up The Other Side to Survive
(Blanche Evans - 01/10/2000)
Referral Fees?
Posted By: ChrisNewell - 01/10/2000 10:27 AM
I agree with many of the points in this article, but I have a really hard time seeing how it could be legal or moral or ethical for a listing broker to expect to collect a referral fee from a buyer broker?
If you are doing that, then the question must become what are you doing to deserve the pay from the seller?
I know that the agents around here would boycott listings so quickly that the practise would die a rapid death.
But, my question is "How can a listing broker ask for a referral fee from a buyer broker?"
Surely, all that is going to do is make us look even worse to the consumer?
BTW - mandatory single agency for an entire office is the only way that consumers will ever really have great faith and trust in our profession. Not voluntary, but legislated that an office may only work for buyers or sellers, never both, and may not collect referral fees for sending the consumer across the street to get an agent to help them.