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1. Buyer's Broker

Declaratory Ruling 91-16 Matter of Blecher Mendel & Fedele - licensee representing himself as buyer's broker may negotiate fee split with seller's agent

Opinion Letter 92-5 (Jane Banduric) - MLS members can properly serve as buyer's brokers. MLS members do not automatically become subagents; sellers can pay a commission to buyer's brokers with full disclosure and informed consent

Opinion Letter 93-1 (Marilyn H. Kaye) - advises broker to clarify "form letters" proposing buyer's broker compensation and conditioning offer on agreement to commission terms (including limitation on commission to be paid to seller's agent)

Opinion Letter 93-6 (Patricia A. DeBolt) broker who is employed by Housing Authority should disclose licensee status as "buyer broker"

Opinion Letter 93-8 (Robert A. Apfel) - BB form letters approved (convey offer to purchase subject to stated terms of compensation to BB and confirming acceptance of offer)

Opinion Letter 93-9 (William Dye) - savings bond may be furnished to buyer by BB or by seller (with pro tantoreduction in commission to seller), but LB can't directly pay for bond for buyer

Opinion Letter 93-13 (Kenneth Schechner) - BB can enter into co-brokerage agreement with seller's agents, with informed consent of both buyer and seller, that BB will represent B only and LB will compensate BB from commission paid by S

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Fourth quarter Legal Lines now available

The fourth quarter 2017 Legal Lines is now available. This edition covers the misclassification of employees, escrow deposits, agricultural district disclosures and more. Learn more

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