Selling Office Commission

Selling Office Commission (or SOC)

This is the term used by the MLS to describe the commission paid by the seller to the buyer's agent. Yes, that's right, not a misprint. The term "selling broker" is synonymous with "buyer's broker." 

So why use such a crazy term? It has to do with the history of real estate. In summary, back in the day, both agents - the one working with the seller, and the one working with the buyer - worked for the seller. One, the listing agent, put the home for sale on the MLS. The other, the selling agent, "sold" the property.

Today, of course, buyer's agents work for buyers. It is a mystery - or a very big wink - as to why this term is still used.