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Old 04-29-2018, 11:16 AM
 
Location: Columbia, SC
8,861 posts, read 17,479,234 times
Reputation: 6244

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Quote:
Originally Posted by just_because View Post
I wouldn't make so much of the whole 'client' vs. 'customer' thing. The role of the buyer's agent is to work cooperatively with the seller's agent to get the deal done. That's why the sellers agent agrees to split his commission with the buyer's agent. It's because the buyer's agent will help get the deal done, working cooperatively.

See:
https://www.nar.realtor/nar-doj-sett...mls-what-is-it

to officially reference this point. Reference is necessary because agents in the past have tried to deny that this is the model. Department of Justice settlement page on the NAR site is about as official as it gets so denials do not hold water.

Outside of the US, the buyer's agent model is, for the most part, unheard of. It's just understood that the agent is working for the seller and that's clear to everyone. No confused cooperation between seller's agent and buyers agent while at the same time trying to say you're working in the best interest of the buyer. And often this uniquely American model more than doubles the overall commission cost of the transaction and creates multiples of extraneous real estate agents. A very cost inefficient system ripe for complete overhaul.
Useless play on words sir or madam. The buyer and seller also have to cooperate to get the deal closed. Are they in cahoots? Of course not in the real world but by your definition...maybe?

To me it mean simply that buyers and sellers cooperate to complete the common objective of transferring a home for a certain price and terms from party A to party B. The agents role is to assist in the transaction in a "cooperative" manner while representing the parties to the transaction with home they have a fiduciary responsibility (if it's a client situation as opposed to transaction brokerage).
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Old 04-29-2018, 11:18 AM
 
Location: Columbia, SC
8,861 posts, read 17,479,234 times
Reputation: 6244
Quote:
Originally Posted by photogal9 View Post
"But behavior in the human being is sometimes a defense, a way of concealing motives and thoughts, as language can be a way of hiding your thoughts and preventing communication" Abraham Maslow

The agent that showed me the property that started this post, showed me 1 other one Wednesday. He brought up the other property as said "We got 12 offer's on that unit."

I looked at him and retorted, "it was priced too low, last comp sold for $128K in Jan, etc.." I am still wondering if they realized that they said "We got" as opposed to "It got"? I sure as **** caught that Freudian slip. I have not spoken with them again and am probably going to cut them loose.

It would be great if more homeowner's were selling FSBO, especially in this day of information availability on the internet. A little research goes a long way, and you learn with each transaction.

In real estate you need 6 things:

1) A buyer
2) A seller
3) An experienced real estate attorney (there are plenty)
4) An LO if you are not paying cash
5) An inspector, if you so choose(there are plenty)
6) Comps and to know your market area

It isn't rocket science.
Actually you only "need" a buyer and a seller. The others are just there to assist. As far as I know if they have the knowledge the buyer and seller can even record the sale w/o an attorney.

You don't need an LO for owner financing or private financing. You don't need an inspector. You don't need comps.
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