Working as an Intermediary (Double Dipping)
In general, we do not allow agents to work as an intermediary or "double dip" when listing properties. This is the practice of retaining the BAC when a buyer is unrepresented and you are a listing agent.
We do allow working as an intermediary in certain circumstances that require approval. We consider these "friendly transactions" where the buyer and seller generally know each other and have already come to an agreement on the property. The agent then facilitates the deal, usually for a reduced commission.
You must get broker approval prior to operating as an intermediary!!!
Document Requirements:
- A listing agreement is not required for facilitating a friendly transaction but you’ll need to get the ABOR Unlock Addendum Confirming Broker Compensation or TXR-2406 Addendum Regarding Brokers’ Fees attached to the contract.
- The Intermediary Relationship Notice must be attached to the contract and signed by all parties
- The General Information Notice to Buyers and Sellers should also be attached to the contract package.
- The Buyer must sign a Buyer/Tenant Representation Agreement per the NAR Settlement