FAQ

What is a Transaction Broker?

A transaction broker is a licensed real estate agent who is a neutral third party in a transaction. He or she provides services to facilitate the closing of a deal but does not act on behalf of any particular client.
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Does the agent writing the offer collect a commission?

No. The upfront flat fee is the only compensation.

What happens to the commission if the offer is accepted?

BSI has various options for the buyer to choose how they want the commission to be handled inside the transaction. The instructions will be added in the special stipulations in the purchase and sale contract in the initial offer. Options will be provided on the intake forms at the time of order.

Co-Op Commission disbursement instructions (Special Stipulations) *
Please select which option the buyer elects for the offered co-op (buyer’s agents) commission.
The buyer will receive a credit at closing from the selling agent’s co-op commission.
The selling agent will forfeit the co-op commission offered to the seller to increase the seller’s net
No co-op commission offered

Are there refunds if the offer is not accepted?

After the order has been fulfilled, there are no refunds.

How long do orders take to be completed and delivered?

Orders will be reviewed for approval between the hours of 8am-6pm eastern time Monday through Saturday. After the order is approved from BSI, it will be delivered within 24 hrs. Your payment will be processed AFTER your order has been reviewed and approved.

Does BSI offer expedited services?

Yes. You may request expedited services for an additional fee.

Do BSI Brokers represent the buyer through the entire transaction?

No. Once the order is fulfilled and given to the buyer, the agent is no longer involved in the transaction. The buyer will have access to additional contracts if needed such as amendments and/or termination documents.

What happens if the offer is accepted and the buyer needs additional assistance?

BSI has experienced agents available for hire to give advice and manage the transaction to close for additional commission splits. Transition from a transaction broker to a single agent representation can be requested at any time during the transaction.

What is the difference between Customer vs. Client relationship?

When the buyer is a customer to the Broker, the Broker is not representing the customer in a legal capacity. The Broker can work with the customer by performing what are known as ministerial acts such as preparing real estate contracts at the direction of the customer, and/or providing pre-printed real estate form contracts.
When the buyer is a client to the Broker, the Broker is representing the client as the legal agent. This relationship is formed through written agreement.
All initial engagement relationships are assumed to be Customers represented by a Transaction Broker unless otherwise specified with a written brokerage agreement for the agent to represent the client as a single agent for the specific transaction or multiple transactions.

What is the difference between a Transaction Broker vs. Single Agent representation?

A Transaction Broker is a non-representation relationship with customers. Transaction broker’s responsibility to the customer is to deal honestly and to disclose all known facts. Transaction brokers may not give advice.
Single Agent relationship is when a broker represents a client in a transaction. Single agents are held to fiduciary responsibilities including dealing honestly and fair, loyal, confidentiality, obedience, full disclosure, skill, care, and diligence in the transaction. Single Agents may give advice and recommendations to assist the client and their best interests in the transaction.

Does the buyer sign a brokerage agreement contract?

Yes, the agreement between the broker and the buyer is for a one time transaction and will be agreed at the time of checkout.

What sources are used to provide data for analysis?

BSI will provide data from various sources including MLS, Realist Tax, and National Association of Realtors’ Real Property Resources.

What is a BPO?

A real estate professional’s opinion of a property’s value is commonly known as a BPO or Broker Price Opinion.

What is a CMA?

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