We Welcome Cooperation With Buyer Brokers
Logan-Anderson Gulf Coastal Realtors welcomes the opportunity to work with real estate brokers and agents who represent qualified buyers interested in properties we have listed for sale.
We believe cooperation between real estate professionals benefits buyers and sellers and can help transactions move more efficiently from the initial offer through closing.
Our brokerage will always endeavor to obtain authorization from our seller clients that permits Logan-Anderson Gulf Coastal Realtors to compensate a cooperating broker who brings a buyer whose offer results in a successful closing.
Compensation for Cooperating Brokers
When we enter into a listing agreement with a seller, we explain the role that cooperating buyer brokers can play in marketing and selling the property. We also discuss compensation and the potential benefits of authorizing our brokerage to compensate a broker who brings the buyer to the transaction.
It is our brokerage policy to recommend sharing the brokerage compensation equally with the cooperating buyer broker when appropriate. Any compensation offered, however, is subject to the seller’s authorization and the terms applicable to the individual property and transaction.
Because offers of broker compensation are not displayed through the MLS, buyer brokers should contact Logan-Anderson Gulf Coastal Realtors directly to determine whether compensation is being offered on a particular listing and, if so, the amount or terms of that compensation.
When compensation has been agreed upon, Logan-Anderson Gulf Coastal Realtors will document the arrangement with the appropriate Mississippi broker-to-broker compensation agreement, including Form F38 when applicable.
Why We Discuss Compensation With Our Sellers
We take time at the beginning of the listing process to explain brokerage compensation to our seller clients.
Our sellers should understand not only how our brokerage is compensated for representing them, but also why compensation to a cooperating broker representing the buyer may help facilitate the sale of their property.
We believe these discussions should occur before an offer arrives whenever possible. Clearly explaining the arrangement in advance helps prevent misunderstandings later in the transaction.
Bring Us Your Qualified Buyers
We want agents representing buyers to contact us about our listings, ask questions and bring us offers.
We do ask one important thing:
Whenever possible, please have your buyer pre-approved by a lender before submitting an offer that requires financing.
A pre-approval helps demonstrate that the prospective buyer has taken the initial steps necessary to obtain financing. It also helps both your client and our seller avoid spending unnecessary time on a transaction that may not be financially feasible.
A lender’s pre-approval is not, of course, a guarantee of final loan approval.
Property Disclosure Statements
We attempt to make the seller’s Property Condition Disclosure Statement available as soon as practical after a property is listed.
There may be occasions when the listing is published before we have received the completed disclosure from our seller.
If you are interested in one of our listings and do not see the property disclosure available, please contact us. We will determine its status and provide it when it is available and appropriate to do so.
Out-of-State Brokers and Referral Fees
Are you a real estate broker or agent licensed outside Mississippi with a client who wants to purchase property in Mississippi?
Please contact us.
Logan-Anderson Gulf Coastal Realtors can discuss a referral arrangement with your brokerage and explain how we can represent your client’s Mississippi real estate needs through a Mississippi-licensed real estate professional.
Any referral compensation must be handled between the appropriately licensed brokerages and documented as required.
Contact Us About a Listing
If you represent a buyer interested in one of our listings, we encourage you to contact Logan-Anderson Gulf Coastal Realtors.
We can provide available property information, discuss the status of the seller’s Property Condition Disclosure Statement, answer questions concerning the listing, and tell you whether cooperating broker compensation has been authorized for that particular property.
Please contact us directly for the compensation terms applicable to a specific Logan-Anderson Gulf Coastal Realtors listing. 228-215-3234.
Broker compensation is negotiable and is not set by law. Any compensation offered to a cooperating brokerage is subject to the applicable agreements, seller authorization, and the terms of the individual transaction.