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Yes, that absolute sense ! Up until now, I thought that is how it worked generally irrespective of State. Simple & straightforward as what you said. I was & still am a bit thrown off with that subagent part.
So if I go as per BoBromhal's suggestion - find 2-3 agents, ask them about house in question, CMA etc etc...and meet all 3. Does that mean that what they tell me about the house, the suggested offer price, CMA is from a seller's point (as in acting as if representing the seller's interest), just bec there is no signed doc between us? They why do I need them? So will their opinion (say on the offer price) change the minute I sign the exclusive buyer's agreement?
This is getting confusing. But Diana, I understand the points you are making and I think you got what I am trying to ask/say from the beginning.
It is too common for too many consumers and some agents to shrug off the significance of written contracts. A buyers agency agreement is a contract that places the agent in a legal and ethical role.
The TX disclosure is very clear on the point of representation.
That contract does not "change opinion." It changes the agent's legal and ethical role from salesperson to advisor.
As a licensee, my very specific legal and ethical responsibilities and my mandated role are changed when I am engaged by a consumer to represent their interests in an agent/client relationship.
I often have opinions about properties that I keep to myself when talking to customers. I offer advice and opinions to clients freely. We sell to customers. We advise clients and place their interests first.
You are mixing the two, asking to retain a role as a customer while requesting client-level service.
Engage an agent based on reputation, interpersonal compatibility, transparency, track record, recommendations, presentation, local knowledge, communication skill.
Retain the right to terminate the engagement at any time prior to going under contract.
Be careful if considering engaging an agent because they are willing to disregard their legal and ethical responsibilities to impress you.
I sincerely believe Diana to be a good and capable agent.
I would also advise you to strive to understand agency as regulated and practiced in Texas, not WA, and also not in NC.
Last edited by MikeJaquish; 03-23-2018 at 05:43 AM..
I understand that. When I receive the analysis will it be a fairly accurate range of an appraisal?
Not necessarily. They should use comps but I don't know if that's all they use. I know the price my market is for homes and I don't think the appraisals would match. Prices are increasing fast in my area, I know my home is up 30% in price in regards to what I paid for a starter home but will an appraiser see it that way if they can't or don't want to find further comps?
I had a home fall thru that i wanted to buy because the appraiser who was the same ethnicity as the renters felt sorry for them and their 2 small kids and would not budge on his low appraisal that killed the deal. In retrospect I found a better home but had to live 3 months in heck with a bad roommate, and i would have been happy in the other home too.
I sincerely believe Diana to be a good and capable agent.
I would also advise you to strive to understand agency as regulated and practiced in Texas, not WA, and also not in NC.
This is true and very fair. My opinion about Texas agency law is one of those times when my opinion just isn't helpful to the situation! Sorry for that.
Signing a buyer agreement does eliminate any uncertainty about agency and representation. My more helpful advice would be to interview a few, and then pick one. The agreement clarifies the roles and is a good thing, not a bad thing. We sign them with all of our clients as well.
Last edited by Diana Holbrook; 03-23-2018 at 10:07 AM..
This is true and very fair. My opinion about Texas agency law is one of those times when my opinion just isn't helpful to the situation! Sorry for that.
Signing a buyer agreement does eliminate any uncertainty about agency and representation. My more helpful advice would be to interview a few, and then pick one. The agreement clarifies the roles is a good thing, not a bad thing. We sign them with all of our clients as well.
Heck, I knew that it was true and very fair to call you "a good and capable agent."
As far as the rest goes...
I have heard that some states are evolving more toward requiring a BA Agreement.
Clearly, , from my NC perspective, that is a good thing.
With all due respect to realtors, there are many part time realtors out there who are not up on the market as well as others. I think a buyer who was unsure of what to offer COULD get a drive by appraisal that would cost less than a full appraisal if it made them feel more comfortable.
But you really should do your homework and figure out what a fair price is. It's so easy now to find sales with all the real estate sites. In the old days, you had to buy data from a company to get sales comps or go to the country recorder's office. Much easier now.
As you may have read in my thread of the overpriced home, I am stalking a house that is a good 20-25% overpriced. The selling agent, who is as old as dirt and should know better, was using 3 year old comps to support her ridiculous asking price. My realtor was suggesting I get an appraisal because she isn't that experienced and feels uncomfortable assigning a price. I don't need an appraisal. I WAS an appraiser. If I had ever used a three year old comp, I would have been laughed at.
Also, the selling agent said and I quote "I don't get all caught in square footage" when shown that all her comps were significantly larger than the house. So there are agents and there are agents.
The thing about appraisers is, that's all they do. Agents have to get listings, show places, market properties. It would be like having a GP do your heart surgery or a heart surgeon.
With all due respect to realtors, there are many part time realtors out there who are not up on the market as well as others. I think a buyer who was unsure of what to offer COULD get a drive by appraisal that would cost less than a full appraisal if it made them feel more comfortable.
But you really should do your homework and figure out what a fair price is. It's so easy now to find sales with all the real estate sites. In the old days, you had to buy data from a company to get sales comps or go to the country recorder's office. Much easier now.
As you may have read in my thread of the overpriced home, I am stalking a house that is a good 20-25% overpriced. The selling agent, who is as old as dirt and should know better, was using 3 year old comps to support her ridiculous asking price. My realtor was suggesting I get an appraisal because she isn't that experienced and feels uncomfortable assigning a price. I don't need an appraisal. I WAS an appraiser. If I had ever used a three year old comp, I would have been laughed at.
Also, the selling agent said and I quote "I don't get all caught in square footage" when shown that all her comps were significantly larger than the house. So there are agents and there are agents.
The thing about appraisers is, that's all they do. Agents have to get listings, show places, market properties. It would be like having a GP do your heart surgery or a heart surgeon.
The cool thing about CD is that the OP has received excellent input freely offered by several agents from around the country!
If you get a good Realtor, I believe the market analyses are more accurate. Realtors have their pulse on the market - appraisers typically do not. Lots of appraisers come from out-of-the-area and aren't even familiar with particular markets.
If you get a good Realtor, I believe the market analyses are more accurate. Realtors have their pulse on the market - appraisers typically do not. Lots of appraisers come from out-of-the-area and aren't even familiar with particular markets.
I have had to give appraisers comps every time!
I do agree that appraisers should be local.
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, from my NC perspective, that is a good thing.
