Question:
What do I do if the co-operating commission is too low?
Answer:
Here’s the MLS rule
R-730 If a Member is unwilling to accept the commission offered on TREB’s MLS® System, such Member may request a change before an Offer is signed, and shall not use the terms of an Offer or an Agreement of Purchase and Sale to include or modify such commission. Any agreed upon change shall be separate and in writing. A Listing Brokerage may unilaterally refuse to change such commission.
You can raise the matter of the cooperating brokerage’s commission at any time. The latest time is immediately before presenting an Offer. So, you would negotiate the increase in the CCR. You can’t reference it in the APS, nor can you have the CCR attached or part of the APS. If the Seller agrees, then you proceed.
Best practice would be asap, otherwise, this could be just a time waster. The argument to support the increase would be “my Buyer can add it to his mortgage, otherwise, he has to pay me out of savings etc.”
Brian Madigan LL.B., Broker