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An offer was presented by our realtor for a house we are selling and it's her client. basically if we take it, she can no longer give us advice, but she gets higher commission. what do you think? we do get a slight cut in commission to, but we don't get the benefit of someone just on our side. i've always been against this because, it's like hiring a lawyer, then the lawyer giving you a discount because he is now representing your opponent.
An offer was presented by our realtor for a house we are selling and it's her client. basically if we take it, she can no longer give us advice, but she gets higher commission. what do you think? we do get a slight cut in commission to, but we don't get the benefit of someone just on our side. i've always been against this because, it's like hiring a lawyer, then the lawyer giving you a discount because he is now representing your opponent.
The buyer is not an opponent. He wants to buy your property.
Even though you will pay a reduced commission, if an agent from another office brought the same buyer, you will still have to pay the entire commission, half to each agent.
Also, you don't say which state you are located in? Why do you think she can "no longer give [you] advice"? Did she tell you that? It sounds like you are more aggravated by paying a full commission than getting your house sold to a good buyer.
Your agent should have already given you advice and opinions when you listed about different scenarios that could happen. You both set your price, and I'm sure she had something to advice you about with that. When an offer comes in, you already know if you're priced well or overpriced. There is nothing wrong with it, and if you didnt want it to happen, you should have not agreed to it at the beginning.
Yes, she should have already given you the comps sold and those currently listed and all the ins and outs, improvement, detractions of other listings in you community.
She should have reminded you of your home's pros and cons.
All even before you listed.
In the listing interview she should have told you all the things she was going to do to market your home.
You should have signed an agreement with the realtor. This agreement should have stated something about the parameters of dissolving the relationship. In other words, until then you have a relationship.
You say your realtor now can't give you info. After having a contract with you, how does she suddenly negate that contract? Does she have a buyer's agency contract with the buyer? I don't see how some realtors do this, however if there is a contract with two sides it is called dual agency. Not "once seller agency and now buyer agency".
So, now the realtor has switched sides, according to what you are saying. That means now your contract to pay her is invalid somehow? And she is suddenly being paid by the buyer?
Or is she still being paid by you but doesn't want to deal with you.
You haven't provided enough info I feel. Perhaps you can clear this up. Or perhaps it is really as messed up as it sounds.
The question is "Is this a solid offer?". Do you feel this is an acceptable offer from a qualified Buyer? By now you should have an idea of what the value is and what you expect to get. It would be silly to walk away from a good offer over a "dual agency" issue. But, if the offer is low or not to your liking then counter or reject it.
I can understand why the seller would feel doubtful....even though it might not make sense. I was a buyer and made some offers through the sellers' agent (all along, i dont have my own buyer's agent) but they didn't really work out even though I didn't lowball..somehow, i felt the sellers agents were in a tough spot to present the offers or negotiate an acceptance of the offers. In the end, when I found another house that I like....I just contacted an agent whom I had a decent impression of and told him that I will be making an offer through him. That worked out really well even though my offer was quite far from the asking (which I felt was too much to begin with).
Sometimes it's not just about $$ but psychology at play too. When buyer/seller becomes doubtful, that's when the deal falls through. So it "feels" better to have your own agent be on your same side and fighting against the same "enemies" aka the buyer/buyer's agent.
Right off the bat you don't know if information is being shared. Since you have already talked with the agent you may have shared what your bottom offer you would accept may be. How do you know that information hasn't been shared with the buyer?
Last edited by manderly6; 06-09-2013 at 12:16 PM..
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