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Thread summary:

New Jersey: real estate, realtor, agent, list on mls, market.

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Old 04-16-2008, 08:28 AM
 
19 posts, read 107,307 times
Reputation: 32

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My realtor should've been paying me. I got tired of doing ALL the searching and decided to stop sending listings I found on the internet. Guess what? Haven't heard from this person even though there have been plenty of new listings since I gave up.
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Old 04-16-2008, 11:40 AM
 
Location: Cranford NJ
1,049 posts, read 4,013,434 times
Reputation: 405
Personally, I have no problem with dual agency. We are hired to do a job. That job is to get the house sold. It is not my interest how much the house sells for. I will make every effort to market and show the property to maximize the sales price. If the seller accepts it that is good I will tell them if it is a fair deal. They do not have to accept any offer they do not like. It is not the agent's job to get in the way of the transaction, we are here to put transactions together. So many times I see agents quibbling over items and causing concerns even when there was no issue, talk themselves out of the deal. Explain to your clients, we are representing both sides, they want to sell, you want to buy. I have sold my own listings, they were the smoothest transactions I've had. I have sold office listings, we helped each other resolve issues. The Broker wanted to keep the deal together.
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Old 04-16-2008, 04:26 PM
 
Location: Sunshine N'Blue Skies
13,321 posts, read 22,617,450 times
Reputation: 11694
Quote:
Originally Posted by todaro3577 View Post
if I'm not mistaken, when purchasing a property, the bank has an appraiser physically view and perform a market value appraisal. meaning a true value of the property in todays market so that the bank can make sure the house is worth what it is selling for and worth the amount of money they are lending the buyer to make this purchase. So my point is , a realtor or seller or a plain old joe walking down the street can tell you that house is worth whatever they want to say its worth, but the sale wont go through unless the property is appraised "A valuation by an authorized person" an appraiser.
so where and how does this town analysis that some realtors dont give you
increase the value and fee?
And I had one apprasier be 17,000 off..........he counted the first level as a basement.......It was ALL above ground. Two weeks later, another appraiser.....did it correctly, and that sale went through.
First appraiser, IMO was working for the bank a bit too much........as the buyer had less then great credit and thats all they would let her mortgage, even with 100K down.
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Old 04-16-2008, 05:58 PM
 
11,337 posts, read 11,006,487 times
Reputation: 14993
Quote:
Originally Posted by Sergio M View Post
Personally, I have no problem with dual agency. We are hired to do a job. That job is to get the house sold. It is not my interest how much the house sells for. I will make every effort to market and show the property to maximize the sales price. If the seller accepts it that is good I will tell them if it is a fair deal. They do not have to accept any offer they do not like. It is not the agent's job to get in the way of the transaction, we are here to put transactions together. So many times I see agents quibbling over items and causing concerns even when there was no issue, talk themselves out of the deal. Explain to your clients, we are representing both sides, they want to sell, you want to buy. I have sold my own listings, they were the smoothest transactions I've had. I have sold office listings, we helped each other resolve issues. The Broker wanted to keep the deal together.
And this post shows what is wrong with real estate and so many Realtors. The goal is a "smooth" transaction, not the interest of the client we are hired to represent. This is the "old school" view of real estate, and is what has caused the public to despise our profession.
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Old 04-16-2008, 06:07 PM
 
11,337 posts, read 11,006,487 times
Reputation: 14993
Quote:
Originally Posted by Bill Keegan View Post
I disagree again. I don't think that dual agency is a reason at all for people to have a low opinion of real estate agents. I also think that most consumers of real estate brokerage services would be surprised, even dismayed, to learn that the agent & brokerage they just hired to market & sell thehir house has no intention of ever actually showing that house, of bringing in buyers for it. Most of the states that have made dual agency illegal have put in place something called designated agency, which basically makes legal the exact arrangement I have been advocating, where each principal in the transaction is represented by a different agent within the same brokerage. The concern is in making sure that information about one side of the transaction is not allowed to be shared witht heh other side of the transaction without the approval of the client. I do not think any state has made it illegal for buyers represented by a brokerage to buy property from a seller represented by that same brokerage. Let us know if I am wrong.

And since you feel so strongly about this issue, can you tell us why so many of your company's current listings, including the one you put in the MLS 2 days ago, are listed with a broker relationship of Disclosed Dual Agency? I respect yoru feeling on the matter and your esire to do business the way you do it, but it seems you are saying one thing and doing another.
Unfortunately I do not own the company and it is our policy to list properties as sellers and dual if the opportunity arises.

I make every effort to assure that the opportunity does not arise. If someone walks into my open house and expresses an interest, I explain the pitfalls of dual agency and seller's agency to their best interest, and advise them to use another agency if they want to make an offer on my listing.

Most people react very positively to that, and end up retaining me to shop for other homes where i can VIGOROUSLY defend their interests. The public really does appreciate honesty and integrity.

I am through with this debate. We obviously disagree and will continue to disagree. You can run your business your way, and I will run mine my way.

My final word to the public: DO NOT AGREE TO DUAL AGENCY EVER. IT IS NOT IN YOUR BEST INTEREST AND CAN COST YOU THOUSANDS OF DOLLARS.

-Marc
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Old 04-16-2008, 08:41 PM
 
323 posts, read 2,086,807 times
Reputation: 172
Best thing to do is to deal with the listing agent of the particular house you're looking into...only that realtor knows the exact situation of the seller..how anxious, how negotiable etc.
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Old 04-16-2008, 09:57 PM
 
11,337 posts, read 11,006,487 times
Reputation: 14993
Quote:
Originally Posted by SPNARD1 View Post
Best thing to do is to deal with the listing agent of the particular house you're looking into...only that realtor knows the exact situation of the seller..how anxious, how negotiable etc.
This is 100% wrong. The listing reator's job is precisely to keep information about the sellers motivation a secret. And to get the most money from you the buyer. The best thing to do is hire a good buyers agent who is adept at learning the true motivations of the seller despite the efforts of the listing agent to conceal them.

And of course avoiding dual agency in the process.

-Marc
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Old 04-17-2008, 06:01 AM
 
Location: Cranford NJ
1,049 posts, read 4,013,434 times
Reputation: 405
Why would you be sitting at open house when you have no intention of selling that home? ( The job you were hired to do ). You must be one of those agents that talk themselves out of their own deal. I am not there to discourage anyone, apparantly you would discourage your open house visitor and send them elsewhere. If it's a fair deal, it's a fair deal. If a better offer comes in before attorney review is concluded, it must be entertained.
We do not discuss seller motivation at any point. The pricing is what sells the house.
( Location, amenities, and condition help set the price )
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Old 04-17-2008, 07:14 PM
 
11,337 posts, read 11,006,487 times
Reputation: 14993
Quote:
Originally Posted by Sergio M View Post
Why would you be sitting at open house when you have no intention of selling that home? ( The job you were hired to do ). You must be one of those agents that talk themselves out of their own deal. I am not there to discourage anyone, apparantly you would discourage your open house visitor and send them elsewhere. If it's a fair deal, it's a fair deal. If a better offer comes in before attorney review is concluded, it must be entertained.
We do not discuss seller motivation at any point. The pricing is what sells the house.
( Location, amenities, and condition help set the price )
Sergio, you sound like your very new to the job. One day you will understand that it's not "the deal" that is of prime importance. It is protecting your clients interest. Anyone can write up a contract. But protecting and promoting a client's interest is what makes an agent stand out from the dreary masses who just want to collect a commission.
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