Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In order to call ourselves Realtors, we have to abide by a code of ethics. One of the codes is that we NEVER put commission issues before the needs of our clients. (snip).
Wow, I've never read the code of ethics for Realtors before, but, I bet most are not following that code the way it was intended.
With that said, back to the original question to this post....
PAY THE BUYER AGENT A FAIR COMMISSION. This is 2-3% depending on the market. I am Ms. Cheapo, but this is the place where you can't bargain. You can save some money via FSBO or discount seller's agent, but you gotta pay the agents who bring you a buyer....that would be like not tipping the standard 15-20% tip to a waitress if you didn't. You expect to pay for the food......and ya gotta pay the waitress cuz she brought you the food. Get it??? Yeah, you might prefer to go back to the kitchen and get your own food to save a few bucks.....but, it just doesn't work that way. Sorry! I know its a lot of money....I'm going to be paying it soon myself! Yikes!
I offered to pay her 3% and she had me sit here all day and didnt show up. Now that is a quality professional.
Here in south Fla you could pay someone 8% and they will do just as crappy of a job as a person getting 2%. Not to say that there arent good professionals here but for the most part there are not. Im sure that anyone in this town would agree. I had an agent one time 6% and they were doing the same as this guy at 2%. listed in MLS and that is it. My brother and my girlfriend both have their homes for sale with 6% agents and they are not any happier that I am.
I did an open house myself today with signs that we bought ourselvs
Boy, do I second that! I just sold my house near you (from what it sounds like in your old posts). The realtor that sold the house was paid a higher commission than the first one and this was one of the worst business experiences I have ever had. I'll still be dealing with this for months. I hope everything works out for you. Just think of what a relief it will be to get away from all the Florida nonsense. People get away with illegal things all the time and don't even seem to know what ethics are. The 6% wasn't worth it at all, but I can see how it's hard for others to understand it. In other places normal realtors wouldn't dream of doing some of the things that are commonplace in SoFla.
Original by Tish Thompson. One of the codes is that we NEVER put commission issues before the needs of our clients.(SNIP)
Where does it say that?
Olecapt, I believe you are correct in questioning that---that really doesn't fall into ethics (it is definitely wrong morally, but it's not written anywhere that I've seen). It does however fall into the category of a Buyers Agent not performing their fiduciary responsibilities properly. Not showing a home based on commission is like saying..."I'm sorry Mr. Buyer, the perfect home for you is right here, it meets all your criteria. I just won't show it to you because I won't make enough money."
As for filling out am "agency agreement" saying that they will have to pay the additional x%....it's not an agency agreement (or isn't in NY) it's called an exclusive right to represent agreement which ties a buyer into a contract working with one specific Realtor and "can" bind them to pay a commission provided the home they like has a lower split then the agent "Normally" works for. I disagree with doing business this way, as the buyer shouldn't have to pay a commission nor should a buyer choose one house over another because he has to pay you, the Realtor, an additional fee just because the seller of the home was a cheapskate. That seems moral or ethical?
Seems to me that in any market , its all about making things work , and , thats getting a house SOLD.
I am in the brokerage business ( trucking ) , and have over 40 years invested in bringing together the two parties, the shipper , and the trucker. same thing , here, it seems. the seller and the buyer. All the dancing around with commissions, percentages , who sells , who lists , whatever, just makes it harder for someone to get his home sold, and likewise , for the buyer , finding that place that they are willing to go the extra mile for .
I have been on both sides several times. seems when I am wanting to sell, I have to do the real work of selling myself , if , I want action. I like to see my interested prospects, show my property, whatever. get it done !. The rel estate brokers and agents, just seem to dance around the important things. I prefer to use legal council for the final paper work , in any case.
When I am buying , it has been very hard to even find property that I want. I have always found what I wanted my self. Realtors always show me stuff that I would not want at any price !
If I were to do business like a lot of realtors seem to do , then I would not have been in business very long. I think FSBO deals are made mostly out of frustration , and not because the seller is cheap on commissions. bringing together the parties, and making the sale is what it is all about. I do not care if the listing agent is also the selling agent, I just want to SELL ! If I am a buyer , I want to see properties that I am interested in. I want to make my own evaluations as well. Paying some company 300.00 to check out the structural nature of the home seems to mean little. What do you do after the close , and then you find the house is falling down. I know , nothing. The most these people will offer , is , to refund the 300.00. I would , next time , have my own people check out the property, and , not let the agent " hire" the inspector.
Just some thoughts , I know its not all that simple , bu t, I do think the Realtor industry needs to get better on both sides. Too many frustrated buyers ,..and sellers out there !
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
get it done !
