What does 'Split Commission' mean?
Split Commission
Often found in very small estate agents. One agent will win an instruction to sell a property for a certain fee. He will then offer to split this fee with another agent if they can sell it - often without telling the vendor. There are security issues with this and the seller ends up with a lack of control, not knowing where or how their property is being marketed.
Search Results for 'split commission' in How to Really Buy a Property
Chapter 23:
Why Vendors Choose Bad Estate Agents
"... agency. There are three other scenarios that any vendor should be aware of, at least one of which should be avoided:
Joint Sole Agency
split commission
Multiple Agency
- Joint Sole Agency -
This is a fallacy and a very glossy way of saying you are on with two agents. You are either..."
"... advertising the words "joint sole" can be used to make the property sound exclusive in some other way than having to say "multiple".
- split commission -
This will often happen without the vendor knowing it and works something like this:
You instruct Agent A to market your property..."
"... has keys and an agent you may have decided to avoid is actually on the case.
split commissions are most often found in very small agents where they do not have the staff or resources to market effectively.
- Multiple Agency -
Most agents will try to make you feel bad about going on..."
Search Results for 'split commission' in Property FAQ
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