Dear Forms Committee: I have a signed listing, but it is excluded from the MLS. The buyer’s agent and brokerage want some written confirmation of BAC from the seller. What is the best way to provide that?
A multiple listing service is not just a detailed list of properties that are for sale. Each brokerage that subscribes to an MLS promises to follow all MLS rules, including the rule that requires each subscribing brokerage to pay the Buyer’s Agent’s Commission to the brokerage whose agent is the procuring cause of a transaction. That promise is only enforceable by MLS subscribers, and it is the reason that the BAC means something. If a property is not listed on an MLS, a buyer’s agent should contact the seller’s agent to find out what the buyer’s agent’s commission would be if the agent is the procuring cause of a sale. If the amount is acceptable, the agents should enter into a written contract describing their agreement, because an oral agreement about a real estate commission is not enforceable in Oregon.
All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.