How to protect myself as the buyers representation in a lease transaction (California)
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[{"id": "e2b4ykp", "text": "are you typically a residential agent? the reason I ask is because it is a very straight forward process.  if you're preparing the LOI explicitly state you are entitled to a split of the previously agreed upon commission between owner and listing brokerage. then again, make sure it is also explicitly listed in the lease as well. at that point it's really simple if you dont get paid. sue. ", "replies": [], "depth": 1}, {"id": "e2bavtp", "text": "Submit a commission agreement outlining your commission in addition to the LOI. Sometimes brokers just include the commission in the LOI but to be extra safe submit a separate agreement. This is totally standard procedure.", "replies": [{"id": "e2bpk7b", "text": "Would leaving your commission solely in the LOI hold up in court? ", "replies": [], "depth": 2}], "depth": 1}, {"id": "e2bkq40", "text": "Cooperating agent's \"provided\" registration forms can often be risky to sign, as they may just be an attempt to get your prospect's contact info and sign away your right to a commission (or a reduced commission) - I usually try to avoid them. What you need to do is present the property to your client (after you have vetted it out with the seller's agent, but not disclosing who your client is - explain the type of client that you are representing.) Then go to your client and ensure that they have not been presented this opportunity before, and ideally ask them to send you something along the lines of an email saying that they are working with you and they have not seen the site. Then you send the seller's agent an email registering your client along with their certification that you brought them the site. At this point you want to negotiate a separate commission agreement with the seller's agent based on commission available in the deal. This can be done beforehand or coinciding with submitting a LOI offer, but at this point you are in the driver's seat for negotiating and obtaining a fee on this deal. Get the commission agreement signed as early as possible and include language in your LOI that the commission will be handled per a separate agreement. This is how I would do it in FL, not sure if the same procedure applies in CA, but i'd assume so.", "replies": [], "depth": 1}]