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Old 04-25-2018, 01:42 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150

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Quote:
Originally Posted by photogal9 View Post
...
What's wrong with using an agent that worked in that properties listing firm? Aren't agent's independent contractor's to the brokerage firm? They have a code of ethics to follow, correct? Unless they are playing games
...
Fundamentally....
There is nothing "wrong" with going to the listing agent or another agent in the listing firm.

But, you need to know the difference between being a client or a customer.
You need to know if you are getting fiduciary service including advocacy from an agent, or if the agent is a fiduciary advocating for the seller.

Are you expecting to be a "client" or a "customer?"
You need to know the difference.
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Old 04-25-2018, 01:44 PM
 
595 posts, read 376,554 times
Reputation: 1021
Quote:
Originally Posted by MikeJaquish View Post
Fundamentally....
There is nothing "wrong" with going to the listing agent or another agent in the listing firm.

But, you need to know the difference between being a client or a customer.
You need to know if you are getting fiduciary service including advocacy from an agent, or if the agent is a fiduciary advocating for the seller.

Are you expecting to be a "client" or a "customer?"
You need to know the difference.
Gotcha, thanks.
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Old 04-25-2018, 01:49 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
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Quote:
Originally Posted by photogal9 View Post
Gotcha, thanks.
But you didn't engage him in writing?

That is a state-specific concept.
An agent in NC cannot be engaged in a fiduciary role without a written, signed agency agreement. Actually, I really like that formality, as it takes a lot of exposure to "He said, She said" out of the mix.

Some states don't require engagement in writing. Is yours one that doesn't require a buyers' agency agreement in writing?
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Old 04-25-2018, 02:41 PM
 
595 posts, read 376,554 times
Reputation: 1021
Quote:
Originally Posted by MikeJaquish View Post
But you didn't engage him in writing?

That is a state-specific concept.
An agent in NC cannot be engaged in a fiduciary role without a written, signed agency agreement. Actually, I really like that formality, as it takes a lot of exposure to "He said, She said" out of the mix.

Some states don't require engagement in writing. Is yours one that doesn't require a buyers' agency agreement in writing?
I
I have never signed a buyer's exclusive, nor been asked to.
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Old 04-25-2018, 04:24 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
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Quote:
Originally Posted by photogal9 View Post
I
I have never signed a buyer's exclusive, nor been asked to.
Have you mentioned what state you are in, and I have missed that?

I am curious what state you are in....
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Old 04-25-2018, 05:32 PM
 
595 posts, read 376,554 times
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Quote:
Originally Posted by MikeJaquish View Post
Have you mentioned what state you are in, and I have missed that?

I am curious what state you are in....

Mike.

I have not nor will I state what State I reside in. I know there is no law that requires a buyer's exclusive. I am also well aware of procuring cause, another very complicated gray area and the ramifications that apply(just incase that was part of your next question).
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Old 04-25-2018, 05:40 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150
Quote:
Originally Posted by photogal9 View Post
Mike.

I have not nor will I state what State I reside in. I know there is no law that requires a buyer's exclusive. I am also well aware of procuring cause, another very complicated gray area and the ramifications that apply(just incase that was part of your next question).
I couldn't care less about procuring cause. Boring topic to me, in general.

I wasn't trying to pester. Just to learn.
It generally is amazing to me that people can be legally bound in a fiduciary role, or even a non-fiduciary role, without documentation on what is generally the most costly investment most people will make in their lifetimes.
So many consumers and agents stumble around when discussing agency topics.
That is all.
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Old 04-25-2018, 06:03 PM
 
Location: Raleigh NC
7,758 posts, read 6,114,541 times
Reputation: 6882
Quote:
Originally Posted by photogal9 View Post
I'm not living in Silicone Valley, SFB or CA or any upscale neighborhood. I'm in the Midwest.

this is the only geographic reference we have, in this topic. I would add...

Quote:
I've bought and sold 2 properties in the last 5 year's,
you are a seasoned buyer. Because now you're on your 5th transaction (buyer) in 5 years.

The agent that successfully helped you sell your house, you (mutually) determined wasn't the right fit as your buyer's agent. Fair enough, and with either non-exclusive agency or by numerous forms of termination it happens all the time.
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Old 04-25-2018, 06:10 PM
 
1,765 posts, read 867,558 times
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Quote:
Originally Posted by photogal9 View Post
I would not say I am seasoned, it just ain't my first rodeo and I do my due diligence. I did have an agent, and we ended our time together mutually. They loved me as a seller(here's my net amount I'd like) and not as a buyer(the comp's aren't matching and you want me to offer $XXXXXX?"). I never sign a buyer's agreement. Quite frankly, I would prefer to use my lawyer and LO and skip the agent thing, however, there are not a lot of FSBO properties, I have checked and keep checking daily and if something comes up I will go that route with no issue's.

What's wrong with using an agent that worked in that properties listing firm? Aren't agent's independent contractor's to the brokerage firm? They have a code of ethics to follow, correct? Unless they are playing games

One can only play games when you have a wiling participant, and I am not playing. If I do not like an agent, we part ways and the same if they do not like me. Not everyone is a good fit.

By your own words you seem to be calling out agents who would take advantage of people, namely first time home buyer's. I suppose anything is possible, probable, predictable???
Exactly. There are always a few pros who lament that buyers like you and I get a bad taste in our mouths when these tactics are used. We are all supposed to just go along for the sake of their commission and all kinds of arguments are made about how walking away when the deck is clearly stacked a particular way is nonsensical. But many buyers are on to this, and many choose their agent carefully based on their low propensity for shenanigans. I guarantee that some of the frequent flyers on this board would run screaming if I was their buyer. And that is okay. I know what my boundaries are, what I am interested in, and what I am willing to do for it. I value an agent who respects that. Not all do. As you say, not all are a good fit.

I understand that each market is different and what works in a Peoria may not fly in Seattle. But greed is the same all over. It only takes getting burned once to learn how to navigate as a buyer. Sometimes its an expensive lesson.
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Old 04-26-2018, 04:19 AM
 
595 posts, read 376,554 times
Reputation: 1021
Quote:
Originally Posted by MikeJaquish View Post
I couldn't care less about procuring cause. Boring topic to me, in general.

I wasn't trying to pester. Just to learn.
It generally is amazing to me that people can be legally bound in a fiduciary role, or even a non-fiduciary role, without documentation on what is generally the most costly investment most people will make in their lifetimes.
So many consumers and agents stumble around when discussing agency topics.
That is all.

I understand and didn't think you were pestering at all. Your point about "client" or "customer" is interesting. I would say at this point in time, I feel like a customer. This agent may not be the right fit for me as well.

Any tips on how to vet an agent? Referrals from other people, search engine site's, etc....?
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