Question:
How does the buyer’s agent properly sign the confirmation of co-op and agent sections on the offer in multiple representation (when the listing agent is a different agent from the office).
Everyone seems to fill it out differently:
1) Sign as co-operating brokerage, tick multiple rep and insert MLS commission info in the co-operating brokerage info,
2) Tick multiple rep and also sign as the listing brokerage throughout,
3) Other.
Answer:
The present CCR is wholly inadequate in terms of the multiple representation situation. There should be a document, but really this isn’t it. There should be a new CCR-MR version.
The CCR is s document designed to protect the Buyer’s Agent’s commission. What is really needed is the full and INFORMED consent of both the Seller and Buyer to multiple representation and its conflicts.
Both are lightly canvassed over in the Listing Agreement and the BRA, but CONSENT is required at the time of the conflict not three months earlier.
The two line consent would suggest that BOTH the buyer and the Seller could explain it and why suddenly your top #1 negotiating agent went silent and became a courier and left the parties on their own.
Brian Madigan LL.B., Broker