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Old 04-28-2018, 02:00 PM
 
167 posts, read 72,939 times
Reputation: 371

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Quote:
Originally Posted by Diana Holbrook View Post
I guess I don't see it as a scandal that buyer's agents are trying to help clients with the process of buying homes... Homes that their clients WANT, that are for sale, usually represented by other agents, who we work cooperatively with because it's generally neater and more productive than beating them up.

We work to get the best deal possible for our client, they work to get the best deal possible for theirs. Neither side has a sure advantage or disadvantage in this relationship, it really depends on the circumstance. Part of our skill and talent, is in reading the situation correctly and knowing what is needed to get to close. Not just because we want it, but because our client wants it!
Some people just see the fact that the agent gets paid for this and assumes that means the agent is out to cheat them. That says far more about the accuser than the accused.
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Old 04-28-2018, 02:17 PM
 
Location: Rochester, WA
3,840 posts, read 2,063,984 times
Reputation: 10587
Quote:
Originally Posted by El Senor View Post
Some people just see the fact that the agent gets paid for this and assumes that means the agent is out to cheat them. That says far more about the accuser than the accused.
I agree. Thank you. Of course we're paid. I don't think it's a bad thing for the client that we only get paid if the client is happy enough to close! Doesn't get more performance-based than that.

Would anyone really rather pay us by the hour? Would we then be accused of dragging out sales?
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Old 04-28-2018, 02:31 PM
 
167 posts, read 72,939 times
Reputation: 371
Quote:
Originally Posted by Diana Holbrook View Post
I agree. Thank you. Of course we're paid. I don't think it's a bad thing for the client that we only get paid if the client is happy enough to close! Doesn't get more performance-based than that.

Would anyone really rather pay us by the hour? Would we then be accused of dragging out sales?
The other route (and where I think the industry may start to head) is flat fee, or fee for service. It’s an interesting concept for the majority of the “traditional” market.

Given the number of transactions I’ve been a part of, I kind of came to a similar agreement with listing/buying agents - almost like a menu of services by property.

1019 University, just list in MLS. I’ll be the contact for offers.

1208 La Honda, listing, and you handle showings and offers. Standard 6% to 995K, anything over is 10%.

Purchase at Hamilton, $2K to pull comps and send the offer.

Etc.

I think there would be some value with today’s technology to have this kind is system.
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Old 04-28-2018, 05:43 PM
 
Location: Raleigh NC
7,781 posts, read 6,140,656 times
Reputation: 6905
[quote=Diana Holbrook;51744564]I agree. Thank you. Of course we're paid. I don't think it's a bad thing for the client that we only get paid if the client is happy enough to close! Doesn't get more performance-based than that.

Quote:
Would anyone really rather pay us by the hour?
only if it was minimum wage.

Quote:
Would we then be accused of dragging out sales?
those that wish to complain, will find something to complain about.
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Old 04-28-2018, 05:49 PM
 
Location: Raleigh NC
7,781 posts, read 6,140,656 times
Reputation: 6905
Quote:
Originally Posted by El Senor View Post
The other route (and where I think the industry may start to head) is flat fee, or fee for service. It’s an interesting concept for the majority of the “traditional” market.

Given the number of transactions I’ve been a part of, I kind of came to a similar agreement with listing/buying agents - almost like a menu of services by property.

1019 University, just list in MLS. I’ll be the contact for offers.

1208 La Honda, listing, and you handle showings and offers. Standard 6% to 995K, anything over is 10%.

Purchase at Hamilton, $2K to pull comps and send the offer.

Etc.

I think there would be some value with today’s technology to have this kind is system.
I can agree with you. The current issue is that people have already been given this option, and declined.

to try and bring this somehow back to the OP and at least 1 point she's made tangentially -

If you have a critical mass of Entry Only/Fee-only listings in your market, then you in essence have a critical mass of FSBO's in your market. "In my market" - as has become de rigeur - we have numerous agencies that are Entry Only that very specifically say "all questions and offers, contact the Seller. Only call us to report a contract."
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Old 04-28-2018, 07:42 PM
 
2,770 posts, read 2,047,601 times
Reputation: 2023
It's all a game. As was mentioned before if you think something fishy is going on.... walk. Almost 20 years ago I placed an offer on a property in San Francisco. The offer was accepted but when I showed up to sign the papers the seller suddenly demanded an additional 50 grand. Forget it. I walked. My agent tried to talk me into taking the deal but I said no way.

However, I eventually did buy a home in SF which I would like to sell sometime in the next two years. I plan to sign with an agent as a client and will also use an attorney go over the contract. I want an addendum which clearly states either party can walk away from the agreement if they so choose. This is a valuable property, I know the area well and know the market. This is what I want. Take it or leave it. I'm not going to argue with people. Can't sell and it goes back on the rental market.

With regards to rental property: Last year I had a home listed where a potential applicant asked why the listing was $100 a month over what a similar home a block away was renting for. I explained I know nothing about that property and the fellow got a bit upset. Why was I overcharging? I stopped returning his calls at this point and rented the home to someone else a week later.

Last edited by john3232; 04-28-2018 at 08:02 PM..
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Old 04-28-2018, 08:14 PM
 
2,770 posts, read 2,047,601 times
Reputation: 2023
Quote:
Originally Posted by Diana Holbrook View Post
I guess I don't see it as a scandal that buyer's agents are trying to help clients with the process of buying homes... Homes that their clients WANT, that are for sale, usually represented by other agents, who we work cooperatively with because it's generally neater and more productive than beating them up.

We work to get the best deal possible for our client, they work to get the best deal possible for theirs. Neither side has a sure advantage or disadvantage in this relationship, it really depends on the circumstance. Part of our skill and talent, is in reading the situation correctly and knowing what is needed to get to close. Not just because we want it, but because our client wants it!
There it is.

It so important for those involved to read the situation correctly. There really isn't a right or wrong. It's what the market will support
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Old 04-29-2018, 01:54 AM
 
1,528 posts, read 729,353 times
Reputation: 2062
Quote:
Originally Posted by BoBromhal View Post
all you gotta do is contact the NC Real Estate Commission and open a complaint. They've got a website and a phone number. I think you'll have to provide your identity though

I would point out, without reading the link again - and in case your fellow consumers decide not to read the link - that the DOJ case was 2007-2008 whereas the description you quote (but conveniently left out) begins with this:

In the late 1800s...

Until the late 80's/early 90's, there was no Buyer agency.
Until about 2005, there was no internet.

the DOJ Antitrust suit didn't really have anything to do with "broker cooperation" - in your choice of usage nor mine - at all. Here's from the DOJ's very own summary...



so who is misinforming and misrepresenting?
I don't have any idea what you're talking about. I just posted a link to official information from the NAR. I don't expect everyone here to agree with everything I say but you'd think that linking to official NAR information would not be controversial (to use Diana's word). I think I've heard everything now if you're trying to argue that this is wrong. You're talking about dates, etc. but it's not clear if your position is that the information on the official NAR website is incorrect or at least incorrect for today? Sounds like that's what your trying to say. This official NAR information describes the principles of the MLS. Principles don't change with the seasons. If you have your own view that differs from the official NAR information, then let's hear it. Otherwise, just saying that it's old or whatever isn't clear. Is it incorrect because the principle is not new? Are you saying that they've neglected to update their official information with some new principles? Be clear.

I prefer to agree with Diana that it should not be controversial in any way and agents should not be arguing against it. That's just how it works. Be open about it with consumers about it and don't try to undermine or twist the long held principles of how MLS works as this may be misleading to consumers.

Anyway, consumers can decide whether they wish to believe the official information carefully laid out and presumably overseen as part of the communications required by or related to the DoJ Settlement. Or believe whatever alternate explanation you wish to propose.
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Old 04-29-2018, 03:59 AM
 
Location: Cary, NC
31,648 posts, read 55,388,070 times
Reputation: 30194
Quote:
Originally Posted by Diana Holbrook View Post
True. We all have to suffer the reality of not being omniscient.

Trust me, that's as frustrating for me, as it is for the client!
Oh, yes.
Omniscience and water-walking would be great tools in the old toolbox.
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Old 04-29-2018, 10:11 AM
 
Location: Raleigh NC
7,781 posts, read 6,140,656 times
Reputation: 6905
I can't help but recall Macbeth

It is a tale told by an idiot, full of sound and fury, signifying nothing.
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