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Old 07-19-2012, 09:13 AM
 
Location: The Triad (NC)
26,926 posts, read 58,114,876 times
Reputation: 29424

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Quote:
Originally Posted by behindthescreen View Post
Which is what happened to the OP.
No... that is your preferred interpretation of what happened.

Unless you have more unrevealed knowledge of the particulars then you don't know anymore about
what happened with the OP than anyone else commenting here. If the OP ever returns then perhaps
more light will be shed on the actual events and sequence and most importantly...
their underlying motivation.

My **preferred** interpretation, beyond what I described earlier (in post #19)...
is that the OP ran into a overbearing slimeball of a listing agent and left rather than deal with them.
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Old 07-19-2012, 09:14 AM
 
Location: Planet Earth, USA
1,518 posts, read 1,657,238 times
Reputation: 2943
Quote:
Originally Posted by MrRational View Post
Indeed they don't. The LISTNG agent that is. What hubris you have!

The only thing you've done to effect action by some **prospetive** buyer out there is to have
placed the yard sign they saw when driving around or to cross post the MLS file to redfin or trulia
where they saw that listing among the 20 (or 100?) other prospective addresses they may have
some but as yet undetermined degree of interest in.


Exactly so. I suggest you focus on actually serving your clients interests better.

Do a good job when showing, don't antagonize or intimidate prospects and most important
as regards the points being made in this tread... don't *expect* more than half the commission.

When unrepresented lookers hightail it out of your showings into the arm of some other agent...
it might just be because of what they think of YOU.

hth
Doesn't matter HOW they brought a prospective* buyer, the listing agent did their job. Just because you THINK you know how they marketed the property to find a buyer doesn't matter. All that matters is what the seller and listing agent agreed upon in the listing contract.

If all the agent did was type in the listing into the MLS and 2 days later they found a buyer IS NONE OF YOUR BUSINESS.
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Old 07-19-2012, 09:20 AM
 
Location: Planet Earth, USA
1,518 posts, read 1,657,238 times
Reputation: 2943
Quote:
Originally Posted by manderly6 View Post
Example 1: Buyer sees a house listed on realtor.com. Calls a buyer's agent and says show me that house. They have zero discussion about commission or anything else. Nothing is signed.
Example 2: Buyer sees a house listed on realtor.com. Calls the listing agent and says show me that house.

Now let's refer to your own words.

The full commission considering that the listing agent through their efforts of advertising, brought a buyer to the seller.

Seems like the seller's agent had everything to do with brining in both buyers.

Really? If you can't understand the difference then that is your problem. I'm not getting paid to make you understand and have wasted enough time trying.
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Old 07-19-2012, 09:23 AM
 
Location: The Triad (NC)
26,926 posts, read 58,114,876 times
Reputation: 29424
Quote:
Originally Posted by behindthescreen View Post
Doesn't matter HOW they brought a prospective* buyer, the listing agent did their job.
And (if the deal closes) the listing agent will get a nice commission.

Hopefully (for the SELLER's sake) the listing agent will do far more for their client than this
to have earned that money... but that is between the two of them
For your sake... I hope the seller never learns how many of those prospects you ran off.

Quote:
If all the agent did was type in the listing into the MLS and 2 days later...
and some total stranger comes across that listing while using redfin or trulia or driving by
which is the 2012 reality however uncomfortable that truth may be for you...

what was your point again?
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Old 07-19-2012, 09:54 AM
 
Location: NJ
17,579 posts, read 38,391,825 times
Reputation: 16101
Quote:
Originally Posted by behindthescreen View Post
Really? If you can't understand the difference then that is your problem. I'm not getting paid to make you understand and have wasted enough time trying.
That is about what I expected from you. When you can't explain something you resort to the crap you posted.
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Old 07-19-2012, 10:45 AM
 
Location: Cary, NC
31,677 posts, read 55,479,016 times
Reputation: 30240
I bring a LOT of "Prospective Buyers" to my listings.
I only get paid for the ones that close.

That only happens after they get preapproved, consider comps, write offers, negotiate to contract, schedule and perform inspections, negotiate repairs or concessions, arrange financing, utility connections, hazard insurance, schedule walkthrough, and whatever else their agent does.
I appreciate the role of a good Buyers agent, which is much more demanding, by far, AFTER the showing.
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Old 07-19-2012, 10:50 AM
 
936 posts, read 1,753,725 times
Reputation: 934
Quote:
Do you or do you not EXPLAIN to a consumer before you show them your listing that if they don't use you, you will be offering a reduced commission to the buyer agent? Simple question.
No, unless they ask. It's none of their business on how the coop aspect of the MLS works. They aren't a party to the agreement between the brokers via their MLS membership.

Everyone is trying to get into the business between the agents and try to work the agents over, and that's where most of these problems start. I don't start out with the assumption that a buyer is going to use me for a showing then go to another agent to write up an offer. In fact, it has never happened to me. If they were to mention their desire to do that then we'd certainly have that discussion. But why would I assume that I would have to explain to them what would happen under a long-short scenario and why would I even have discussions about them going to someone else; I certainly wouldn't want to encourage that sort of action by bringing it up. But nothing is intentionally hidden from them. If they have questions about usign another agent then we'll have a discussion about so that they can make their own decision.

There are lots of details on how the real business works that could be disclosed. Where do you stop disclosing when it could take an afternoon to explain all sorts of scenarions? If someone asks then I'll certainly answer them. But it seems unusual that a buyer would even care.

When I have my initial discussion with a buyer about whether they are represented or not then they need to make a decision. Furthermore, if they go to another agent after having seen the house with me then that second agent needs to talk to the buyer about their situation and decide if they want to get into a commission dispute. I don't know what a buyer will do after viewing a house with me, but the second agent certainly can figure that out because it would now be part of the history of the buyer's home search activity.

This is a scenario that rarely happens, and has never happened with me. That's because I just don't take a phone call and agree to meet a prospective buyer at a property without prequalifying them and consulting with them. So why would they want to go to another agent to write up an offer?

Some buyers might be concered about dual agency and that's understandable. If they have the knowledge about what that entails then it's more likely that they understand that it's best to view the house with another agent in the beginning. It's only the buyers like the original poster who want to take advantage of the listing agent who create these sorts of problems. It's not a type of problem that I would create, but would have to react to after dealing with a buyer who wants to deceive me with their intentions.

Mr. R-- you need to understand the concept of an exclusive right to sell. The seller agrees to pay a commission under any scenario. It's none of anyone's elses business how that buyer came to learn of the listed property. Do you go to your grocery store and argue with the cashier over the relationship they have with their distributors. Do you ask for a discount on your food because you found about the food product from a TV commercial paid for by the mfg rather than the grocery store?

Silverfall- where did I mention that anyone is being forced into dual agency? We have a required disclosure that is provided to all parties when they decide to enter into DA. Any of the parties may choose to not be involved in DA in which case they would be referred to another agent.

The issue here isn't with forcing anyone into DA, but having a buyer who knows in advance that they don't want DA yet requests a showing from the listing agent. They're setting up a scenario where they know in advance that they'll never follow through with the listing agent to write up the offer. So they're the ones who are fooling the agent and that is the crux of the issue here with original poster.
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Old 07-19-2012, 10:52 AM
 
Location: Cary, NC
31,677 posts, read 55,479,016 times
Reputation: 30240
These conversations always bring to light the regional and local differences in agency.
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Old 07-19-2012, 10:59 AM
 
936 posts, read 1,753,725 times
Reputation: 934
Mr R- your concept of how high commissions are and those big fat checks doesn't match reality. In our market nearly 40% of listings expire, and of those that get relisted have a 20% expiration rate. Those expired and unsold listings represent over head for an agent. So when you see an agent have a quick sale that brings them in commission money with few expenses, you need to realize that that income is used to offset expenses for expired listings.

The average gross income for an agent is somewhere in the upper $20K. That's gross! You take away expenses and the average agent is not making much money at all. It's expensive to sell a house and the MLS system has proven to be a great way to do that. But the cooperative nature of the MLS systems certainly requires enough commission money to go around to the various parties.

The bottom line is that it makes you look foolish talking about the high commissions charged by agents as it though the average agent is making a lot of money. That facts don't bear that out.
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Old 07-19-2012, 11:03 AM
 
Location: NJ
17,579 posts, read 38,391,825 times
Reputation: 16101
Quote:
Originally Posted by MikeJaquish View Post
These conversations always bring to light the regional and local differences in agency.
And they definitely bring to light people you wouldn't trust or do business with under any circumstances.
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