I am a real estate agent that represents a bank on a foreclosure in Cali. A buyer who is also a licensed agent wanted me to represent her. She asked me for a referral fee to her broker. I agreed to it to get the property sold. My broker signed a referral fee agreement with her broker. When the seller (bank) finally responds to her offer- took a whle- they said that they wouldn't allow her to get the referral fee. So, I told buyer that I cannot give it to her. She is saying that she will go to arbitration after property closes escrow for the referral fee. Note, the buyer did not sign an agency disclosure with me even though I did give her the form. Any input?

Hello c:

Well, first off, I know NOTHING about it.. But, that's never stopped me before...

It seems to me that the buyer is trying to wear two hats, and the bank isn't going to let her, correctly, in my view. She wants to be a buyer AND a Realtor, and get the advantages of both. I don't think she can do this.

If I'm right (or more importantly, if the BANK is right), you'll win your arbitration... Certainly, you're going to want to find out WHY the bank doesn't want her to get the fee.

Then again, the fee doesn't come from the bank. It comes from you, so I don't know why the bank is even interested...

So no, I didn't help much... But, I did all this typing, and I'm not going to waste it.

excon

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Originally Posted by excon

Hello c:

Well, first off, I know NOTHING about it.. But, that's never stopped me before...

It seems to me that the the buyer is trying to wear two hats, and the bank isn't going to let her, correctly, in my view. She wants to be a buyer AND a Realtor, and get the advantages of both. I don't think she can do this.

If I'm right (or more importantly, if the BANK is right), you'll win your arbitration... Certainly, you're going to want to find out WHY the bank doesn't want her to get the fee.

Then again, the fee doesn't come from the bank. It comes from you, so I don't know why the bank is even interested...

So no, I didn't help much... But, I did all this typing, and I'm not gonna waste it.

excon

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So much for you not knowing anything Excon. You discerned this situation correctly. There is no way she's going to win at arbitration if she did not sign anything. Her just being a RE Agent is fine and all, but the arbitrator is going to go with what's signed on paper.

Sounds like her RE license went to her head and now she wants more money...