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Old 12-11-2012, 07:54 AM
 
Location: DFW
40,922 posts, read 48,877,037 times
Reputation: 54906

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Quote:
Originally Posted by Captain Bill View Post
On an REO property that I bought, when the bank sent the papers for me to sign it said that if the buyer is also the agent that the buyer agent would not be paid a commission. The bank was going to give her the listing agent the full amount.
Happened to me a few years back. Easy fix was for me to get a Buddy Agent or our Office manager down as my agent. I then gave them a nice fee but still collected most of the commission.
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Old 12-11-2012, 08:24 AM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,730,418 times
Reputation: 3876
Quote:
Originally Posted by lls1662 View Post
I'm glad this worked out for you and that the other broker was willing to cooperate.

According to our MLS rules, the listing is an agreement. So, if it states 3% to BA, then it becomes a binding agreement. However, there are exceptions, like in a short sale situation. As long as the listing indicates commission could be changed, the changes are part of the agreement. For example, it is standard practice to indicate, in broker comments, that any reduction in commission by the seller's bank will be shared equally by both sides. This amends the initial offer of 3%...
A few years ago, agents starting putting that short sale qualifier in our listing sheets, but ARMLS stopped that quickly. It is against ARMLS rules to put a qualifier that reduces a commission below the amount stated.
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Old 12-11-2012, 08:59 AM
 
61 posts, read 150,821 times
Reputation: 83
Quote:
Originally Posted by Captain Bill View Post
A few years ago, agents starting putting that short sale qualifier in our listing sheets, but ARMLS stopped that quickly. It is against ARMLS rules to put a qualifier that reduces a commission below the amount stated.

Agents and MLS obviously have different standards in your area than in mine. I'm jealous.
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Old 12-11-2012, 09:17 AM
 
1,835 posts, read 3,245,082 times
Reputation: 3788
[quote=lls1662;27288995]
Quote:
Originally Posted by marksmu;27284238


Oh, Marksmu, you stepped in it this time.....

First, I want to thank you (is there a scarcasm font?) for making me go back through 25 pages of comments to make sure I have it right. You see, I try very hard to make sure I have [I
correctly [/i]read a post before commenting on it.
I stepped in nothing....my comment was not about you specifically...I realized the first comment seemed that way, so I went back in a subsequent comment to correct it. But I will respond to your gibberish below...but I will do it in a way that everyone can understand...you know, the right way to do quotes and comments on a forum.

[quote=lls1662;27288995]
Quote:
Originally Posted by marksmu;27284238
My post -


I have to add here that I have been licensed as a broker for about 15 years, [B
but have not actively represented buyers or sellers in about 10 years.[/b] I have an active license and am a Realtor, but, for a number of reasons, not actively working for others.

You make reference to me being in the profession and why, that you as a buyer, would hesitate to hire me.

My comments indicate I am not actively representing buyers or sellers and have a number of reasons why.

Your previous comments - My responses in italics


Comment #133 - Quote
Ive done lots of transactions as an attorney, this is the first one as an agent. Your attempt to belittle my experience is noted and rejected. Real estate is something I understand very well.

Do you read contracts as well as you read posts?
Sure - I never belittled you personally. The fact that you continue to feign being upset after I went back and clarified that in another post shows your reading comprehension....I was pretty sure it was clear when I stated that I think it would be foolish to pay someone else to do something your capable of doing unless you had something more profitable to be doing...especially given the simplicity of a real estate transaction.

[quote=lls1662;27288995]
Quote:
Originally Posted by marksmu;27284238
Comment #133 - continued

Lawyers use secretaries or hot shot to file law suits these days....

[I
Does this mean you can't handle these tasks yourself? Should a potential client question your abilities?[/i]
You are trying to take that quote out of context - that was in response to Bill saying that he puts hundreds of hours into a transaction personally, including all of the owners contractors/subcontractors....It means that I dont bill a client $500/hr to run documents to a courthouse when I can pay hot shot $25 to do it for me. Clients would be very happy about that - not upset....I do think a client would be furious though if I hired another firm to do the work and then paid them less than they pay me....That would likely be met with a malpractice suit as well.

Quote:
Originally Posted by lls1662 View Post
Quote:
Originally Posted by marksmu;27284238
Comment #148 - Quote

There are lots of things being done that you could pay someone else to do and would be money well spent.

[I
Do you think this may apply to me as well?[/i]
Certainly - in fact I clarified that in a subsequent post that it makes complete sense if you can be making more money doing something other than the transaction...I do this frequently.



And, your comment above:

The post was not intended to personal in nature,

Not personal in nature, I write a novel regarding the initial post, and the one thing you chose to point out (incorrectly) is that I am probably incompetent. How is that not personal in nature?
I attempted to clarify after the first post Silverfall made where she stated that it was offensive...It was not intended to be personal or directed at YOU - As a consumer if an agent that was out for hire (and I am aware that you are not) was not doing their own transactions, I would want to know that. It is material information....It makes anyone want to know the obvious answer to why not?

Quote:
Originally Posted by lls1662 View Post
And now, my fellow posters, you know my deep, dark secret. As you may be able to surmise, I have a low tolerance for BS. The main reason I quit representing buyers and sellers is that I earn a very good livng doing other things without the drama, emotions (other people's, not mine) and the incompetance and unprofessionalism that abound in the world of real estate.
We agree there is a tremendous amount of incompetence in the world of real estate.

[quote=lls1662;27288995]
Quote:
Originally Posted by marksmu;27284238
To clarify, I am not "throwing away" money when I use the services of another agent. First, when selling a property, I have a flat rate that I pay an agent. [B
She knows there is a limited amount of work on her part [/b]and will be adequately compensated for what she does. I am more than happy to pay her the money as my time is better spent elsewhere. When buying a property, it is very typical in my area for listings to state "Agent buying for their own use will not receive a commission". This means I will not get the commission and it will go either to the listing agent or the seller, they don't negotiate the price down. The agent I use (same as selling) gets the commission, and she intercepts a lot of the BS that I can do without. Also, I am an excellent negotiator, but find the extra layer between the parties often works to my benefit.
Limited work? I have been on this board long enough now, to know that EVERY transaction is extremely complicated and that only a full time, licensed agent/broker with years and years of experience is capable of handling any transaction....I find it curious though that when agents buy for themselves that they recognize that the work needed to close a transaction is usually just minimal.

[quote=lls1662;27288995]
Quote:
Originally Posted by marksmu;27284238
Yes, this [I
is [/i]personal in nature. I initially included comments about my background to clarify that I am neither an agent, nor a member of the "general public". I practice common coutesy and expect the same from others. The incorrect comments could have been avoided had you provided me the common coutersy of correctly reading my posts before questioning my abilities.
I never misread your posts - I made an observation that was generalized, that was interpreted as personal, which I then went back and corrected to be sure that it was not mis-interpreted as personal later...which you went ahead and still did. Congrats....you took offense to something not aimed at you.

Quote:
Originally Posted by lls1662 View Post
As a final thought, have you ever hear the adage "Alawyer who represents himself has a fool for a client"? Yes, I know, it is commonly referred to in litigation, but I think the sentiment may still have some merit here.
I sure have but everything is dependent upon circumstances. Lawyers frequently handle the things that are directly inside their realm of expertise. Most lawyers are extremely specialized - practicing in only one very small world of law....I would never represent myself in a criminal matter b/c I am not a criminal attorney...nor would I represent myself in any matter that made its way into a courtroom....Im well aware that I am a transactional attorney, not a litigator. The specializations in litigation are complex - rules of evidence are very muddy, and preserving your issue for appeal is of the utmost importance...no attorney can just step into litigation without practice and training....

So there you have it. The point of my post remains...I would question any agent for hire who does not represent themselves in their own transactions....if they cant set aside emotions for their own transactions, then they probably can't separate their burning desire for a paycheck long enough to be a strong advocate for me.
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Old 12-11-2012, 09:53 AM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,730,418 times
Reputation: 3876
Quote:
Originally Posted by Missingatlanta View Post
Yeah a lot of them talk a good game and give a nice sales pitch but are really, really lazy once you start working with them hence why this thread is so long. I'm sure there are some good agents out there, I just haven't met one.
Listening to a sales pitch is not the way to research an agent. Many agents post blogs on their own sites, or on ActiveRain. Reading the agents blogs can give a good insight into how they work and how they think.

Google the agents full name to see what you can find on Google.
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Old 12-11-2012, 09:58 AM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,730,418 times
Reputation: 3876
[quote=marksmu;27294828]
Quote:
Originally Posted by lls1662 View Post
...So there you have it. The point of my post remains...I would question any agent for hire who does not represent themselves in their own transactions....if they cant set aside emotions for their own transactions, then they probably can't separate their burning desire for a paycheck long enough to be a strong advocate for me.
Judging an agents competence by whether the agent wishes to represent themselves in the sale of their home is a poor way of judging. It is not just about emotions. I mentioned several reasons, and others mentioned more.
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Old 12-11-2012, 10:11 AM
 
1,835 posts, read 3,245,082 times
Reputation: 3788
[quote=Captain Bill;27295341]
Quote:
Originally Posted by marksmu View Post
Judging an agents competence by whether the agent wishes to represent themselves in the sale of their home is a poor way of judging. It is not just about emotions. I mentioned several reasons, and others mentioned more.
That is your position. I respectfully disagree with your position. I judge on actions...the most telling actions are those that a person does for themselves....why do you think congress is exempt from the new health care laws? It's good enough for everyone else in the US, except for them - oh and those who just happen to be their friends/donors.
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Old 12-11-2012, 10:26 AM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,730,418 times
Reputation: 3876
Quote:
Originally Posted by marksmu View Post

That is your position. I respectfully disagree with your position... I judge on actions...
It's ok to disagree. We disagree on many things. That's life.

You say you judge on actions. However, judging an agent by only one action of hiring someone else to list their house is a poor method of judging competence. The fact that an agent wants someone else to list their home is not not sufficient information about the agent. It's only a personal opinion.

I've listed and sold all of my rehabs, but that does not make me more competent than another agent who may choose to have someone else list their home.
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Old 12-11-2012, 12:45 PM
 
Location: Salem, OR
15,505 posts, read 40,215,771 times
Reputation: 17378
Quote:
Originally Posted by marksmu View Post

So there you have it. The point of my post remains...I would question any agent for hire who does not represent themselves in their own transactions....if they cant set aside emotions for their own transactions, then they probably can't separate their burning desire for a paycheck long enough to be a strong advocate for me.
I can say that of the agents that have represented themselves in transactions with me, they shouldn't have. They just aren't able to be neutral and objective when it comes to their own home. It is fine that you are analytical and can dissociate from emotions so easily, but many people can't. They obviously wouldn't be the person to represent you, but it doesn't mean they are bad agents for other people. Why is that hard for you to accept that there can be different agents for different consumers, without questioning their ethics?

Me? I don't do well with people that need loads of hand holding. I refer them to other agents at my company that excel at that. I am confident enough to know that how I work isn't the right fit for every single consumer out there, and I certainly don't question the ethics of people that don't do things my way. I really don't get why someone so intelligent has such a limited view of the differences in humanity. Really? You'd question the ethics of someone that choses not to sell their own home because you deem it an easy task? When you sell someone else's home you aren't packing your own stuff up. You aren't figuring out the logistics of moving from point A to point B. You aren't listening to your kids be stressed about the move. Wanting to reduce your stress isn't a good reason to you? You do realize that most agents cut other agents a deal since they are typically just paper pushers, right?
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Old 01-07-2013, 06:19 AM
 
Location: Cypress
37 posts, read 62,830 times
Reputation: 41
So, just why do Realtors have an unfavorable reputation?

Is this a benefit question? Who benefits from this answer? Realtors have a great perception? They are perceived as honest, loyal, trust worthy, hard working, knowledgeable, masters at their craft. Commissions are necessary, however are unbalanced at times. Realtors have a poor perception when they are not all those things. I believe realtors are people just like everyone else and this profession should not be singled out. Some are good, others are very good and then, of course in every profession there are bad. Just my opinion.

Some of you are very disturbed at realtors/real estate agents. I am disturbed by a lot of things in america. I don't blame you for voicing your opinions. I just believe that you should be more specific when you are speaking about realtors. There are a lot of good realtors out there. Maybe more good than bad. In this post people are speaking as if bad realtors are the norm. I don't agree with a lot going on in real estate starting way before the housing bubble ordeal. However I still remain positive and confident that people will place there value in me and in return I dedicate myself to them.
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