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Old 03-23-2018, 06:20 PM
 
Location: DFW - Coppell / Las Colinas
30,017 posts, read 34,685,876 times
Reputation: 36053

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I never "Tell" a client what to offer on a house. By the time we decide to make an offer they are usually an educated consumer and I might have a recommendation if they ask but it's a figure that we agree on together.

OP you must hire some really crappy agents.
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Old 03-23-2018, 06:36 PM
 
11,535 posts, read 5,949,473 times
Reputation: 21311
Quote:
Originally Posted by just_because View Post
To be fair, the distinction between client and customer is lost on most people. i don't know of any other industry who uses client and customer in quite this way.

I would not tell a consumer to stop dealing directly with selling agents 'immediately'. The important thing is that consumers understand who they are dealing with and not misunderstand if/how their interests are being looked after. In most countries in the world, there is no such thing as buyer's agents and buyers deal directly with the seller's agent. People survive because they know they are dealing with a sales person who is working for the seller. Simple and easy. Truth in packaging. There is nothing inherently wrong with this and it's just how it works in most places outside of the US. I do think it's extreme to advise people to stop doing this 'immediately'. Just my opinion.
Sure, but a buyer's agent is still paid commission on the sale. It's in their interest for the buyer to pay as much as is humanly possible and close the sale as quickly and with the fewest man-hours as possible.
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Old 03-23-2018, 06:43 PM
 
1,528 posts, read 736,931 times
Reputation: 2062
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Originally Posted by GeoffD View Post
Sure, but a buyer's agent is still paid commission on the sale. It's in their interest for the buyer to pay as much as is humanly possible and close the sale as quickly and with the fewest man-hours as possible.
I don't know if a buyer's agent is still paid commission on the sale.
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Old 03-23-2018, 06:48 PM
 
Location: Columbia SC
8,014 posts, read 6,786,512 times
Reputation: 10759
Quote:
Originally Posted by GeoffD View Post
Sure, but a buyer's agent is still paid commission on the sale. It's in their interest for the buyer to pay as much as is humanly possible and close the sale as quickly and with the fewest man-hours as possible.
While I agree it is in their best interest to get the deal closed ASAP, the small % commission on say $300K versus $280K or $320K is not the issue. The issue is get it closed ASAP no matter $280K or $320K. Get it closed.
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Old 03-23-2018, 06:53 PM
 
1,525 posts, read 580,180 times
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Originally Posted by just_because View Post
I don't know if a buyer's agent is still paid commission on the sale.
Uh. Yeah. They are. Do you seriously have that small of a grasp on the business?
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Old 03-23-2018, 06:56 PM
 
Location: Cary, NC
31,704 posts, read 55,551,116 times
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Quote:
Originally Posted by GeoffD View Post
Sure, but a buyer's agent is still paid commission on the sale. It's in their interest for the buyer to pay as much as is humanly possible and close the sale as quickly and with the fewest man-hours as possible.
Actually, my best interest is served by having clients who are happy with the outcome.
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Old 03-23-2018, 07:01 PM
 
Location: DFW - Coppell / Las Colinas
30,017 posts, read 34,685,876 times
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Quote:
Originally Posted by MikeJaquish View Post
Actually, my best interest is served by having clients who are happy with the outcome.
Not me. I hate happy clients and repeat referrals. Terrible way to build your business.
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Old 03-23-2018, 07:12 PM
 
2,953 posts, read 1,409,243 times
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^^^^ LOL!

Quote:
Originally Posted by LifeIsGood01 View Post
I like your thread you offer unique insight and your own view. Some have their own interests in mind, some have yours. You can get a feel for people and tell after a while if they are honest or not. The dishonest ones will be more pushy.

RE Agents hate to be called out so a lot of the flack will come from them, so ignore it.
^^^^this right here. The lack of professionalism I found with the majority of agents when I was in mortgage banking back in the 80's made me change careers. They did me a HUGE favor.

Biggest overall group of liars I had ever seen in my life. Till the administration we now have in the White House.
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Old 03-23-2018, 08:11 PM
 
Location: Salem, OR
13,757 posts, read 31,670,380 times
Reputation: 12136
Quote:
Originally Posted by Rakin View Post
I never "Tell" a client what to offer on a house. By the time we decide to make an offer they are usually an educated consumer and I might have a recommendation if they ask but it's a figure that we agree on together.

OP you must hire some really crappy agents.
I work the same. I give them a range where the comps indicate the value is. Anything above that is because they really want it. Anything below that is because they don't see the value.

It was really common as the bubble was bursting a decade ago to hear those kinds of comments as the market was tanking. I had lots of listing agents tell my clients to hurry and make an offer, then the house sold for significantly less a year later.

Now it's the opposite problem in my area. Clients ask "what do I need to bid to get this house" because everything is multiple offers. Then some get upset when they didn't get it over the 16 other offers.
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Old 03-23-2018, 08:34 PM
 
6,368 posts, read 7,377,442 times
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Quote:
Originally Posted by GeoffD View Post
Sure, but a buyer's agent is still paid commission on the sale. It's in their interest for the buyer to pay as much as is humanly possible and close the sale as quickly and with the fewest man-hours as possible.
That's a tired refrain. Are you saying that because that is what you would do??

Granted, there are people in every profession who shouldn't be trusted, but blanket, ill-informed statements really are a disservice to the many professional people who live and work with high ethical standards. Why do you think that so many agents advise people not to buy properties if a quick commission is their goal? Think about it. For those in it for the long haul, it is good business to have satisfied clients.
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