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Problem with that is that buyers often state that they want this specific features, and after spending some time actually going out with them viewing homes, it becomes clear that they want those features to achieve a particular goal that might be achieved as well or better with something different. Not so much in the case of bedrooms (though sometimes they'll say they want four bedrooms when what they mean is they want three bedrooms and a room that can be an office), but many times I've had buyers come in stating absolutely that they want X only to end up, when they're more informed on the market and what's out there, buying Z because it achieves their goals better. Part of it is listening, but part of it is simply going out with them and watching their reactions. Now, granted, I wouldn't show house after house for two years, but going out two or three times (depending on if both spouses can be at all showings) isn't out of the question. At that point I can usually find just what they're looking for if it's on the market (or we can find it and it isn't on the market and we can talk the owner into selling it).
So I agree that buyers need to be specific, but holding them to their list can end up in either them leaving and finding an agent who's actually paying attention to them, not the list, or in the buyers buying a house that isn't actually what's going to make them happy because they didn't get to see the possibilities that would achieve their goals even if it wasn't just like the list in every detail.
...'just one more i want to show you' sort of mentality ...
Quote:
Originally Posted by Ted Bear
...No, i wasn't suggesting that it is the broker who is pushing showings, ...
OK, sorry for my misinterpretation. Your previous comment seemed directed at agents.
I agree it would be great to fully define expectations upfront to find the ideal fit as you said in a perfect world. And I try to do this when possible. But a buyer's perception of what they think they want changes as reality sets in while looking at homes.
I also don't have complete control over what they see. Besides the listings I provide that appear to meet their need, they will do their own on-line or drive-by search and insist that we look at the ones they found even though it may be obvious it's not what they said they wanted initially. It's a case of "the customer is always right" .
That may be negotiable between Seller and Agent, as the Listing Agent is somewhat of an intermediary in the conveyance of funds.
Commonly the LA contracts with Seller but Seller is the source of the funds within the transaction.
Regardless, the point stands, that a BA cannot "rebate" to a Buyer who has no investment in BA services.
But, thanks for taking note of my impeccable logic!
Between the LA agent and the seller? No the agreement for payment is between the two brokerages on the MLS which has nothing to do with the seller. And the seller is not the source of funds in the transaction it is the buyers bank, or the buyer if paying cash. That is a fact, but you can make of that whatever you wish. If the seller was the source of the funds he wouldn't need a buyer would he .
Between the LA agent and the seller? No the agreement for payment is between the two brokerages on the MLS which has nothing to do with the seller. And the seller is not the source of funds in the transaction it is the buyers bank, or the buyer if paying cash. That is a fact, but you can make of that whatever you wish. If the seller was the source of the funds he wouldn't need a buyer would he .
"Facts" can be so confusing.
I think the first agreement for fee payment is between seller and listing agent. At least, NCAR forms commonly indicate that method of payment for selling a listing. It is an obligation for the Seller to perform with liability to pay if failing to perform. Maybe in other areas the standard forms are different, but I am skeptical that that is the case.
Seller can certainly opt to pay Listing agent whether Buyer closes or not. Whether there ever even IS a Buyer. Legally. It happens all the time.
Listing agent may be able to make a claim against Seller for payment should Seller fail to perform, but claiming commission from Buyer for failing to perform is probably a little dicier for a Listing Agent. Maybe that is another local/regionally dependent detail.
If I am a Buyer and my Buyers Agent wants to rebate a portion of his/her commission to the Listing Agent or Seller, I would wonder about conflict of interest. Disclosure of such an arrangement would be required, for sure.
I would wonder even more about impropriety if I was the Seller and the Buyers Agent wanted to kickback to my Listing Agent.
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