10-07-2009, 12:44 PM
quote:Sorry Dan but that's incorrect. There is no subagency in Hawaii and the seller's agent doesn't have fiduciary responsibility to the buyer. This is clearly outlined in the Purchase Contract. (I believe subagency was outlawed everywhere a long time ago.)
Originally posted by DanielP
...unless the buyer has contracted with and personally paid a "buyer's agent", all Agents are actually seller's agents and are paid by the seller via commissions earned and collected through escrow. All agents have a fiduciary responsibility to the buyer.
The buyer's agent doesn't get paid by the seller. The seller pays the commission to the listing company and the listing company co-op with the company representing the buyer. There is no contractual relationship between the buyer's agent and the seller.
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John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
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