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Setting a 2% Buying Agent Commission Split in Southern CA

I am selling 2 properties in Southern CA (2 different counties). Both are ~1M sales price. 2 different selling agents.

I agreed to the following commission splits -

Agent #1 - 1.75% listing + 2.25% buying agent commission.

Agent #2 - 1.5% listing + 2.25% buying agent commission.

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Here is the interesting part. I received 4 offers in under a week for property #1. My agent informs me that he "accidentally" set the commission structure to 2% listing and 2% buying agent commission (Ultimately, my fault for e-signing so quickly). He mentions that since it still adds up to 4%, I am paying the same amount. However, I can't help but think I might have lost some offers due to the low BAC rate.

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At the same time, I am talking to Agent #2 and then based on what is going on with Property #1 and the few offers I have already received, I ask if I should just set the BAC to 2% (listing still 1.5%). He discourages this as he thinks it will hinder some agents from presenting offers. He also mentioned he has tried this in the past and multiple buying agents have asked for .25%-.5% more to present their client's offer.

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For Property #1, my agent tells me this issue hasn't come up. I have 4 offers so it's hard to tell if he is lying.

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What's the general consensus out there? Since it's very market dependent, I'm mainly looking for SoCal data points.

submitted by /u/clippersfan81
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/hhqvnk/setting_a_2_buying_agent_commission_split_in/
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