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By the way Brandon, I tried to do a comment rep to you but was told I have the spread more love around before I do that. So publicly, here's your rep. Thank you for post number 95.
I'll say nothing about the flaming arrowed opinion of the earlier post other than to say my wish for a speedy recovery is sincere.......
Oh, just two extra cents from the Pennsylvania corner. We've been advised by corporate more than once that failure to conduct a thorough search for a property for a buyer which includes both MLS and FSBO listings could be determined a failure to perform in the best interest of said client. That could lead to a legal problem. So, I do search all houses in the manner directed by the client. But I'll add this, it is in the buyer's agency agreement that should a FSBO elect to not compensate the agency as is routine, the buyer must provide the specified amount. Now what do you think happens? Who do you think at that point says "no FSBO's?
Don't think we're playing a game or trying to steer someone away. We must place that in the agency contract. If we do not, the buyer can hold us to be their agent without compensation.
Fair housing has nothing to do with whether or not an agent shows a FSBO property or not. FSBO's are not a protected class under the Fair Housing Laws.
Agents are more than welcome to conspire to not show FSBO's if they want. It has nothing to do with anything. It is a business practice decision. Many agents don't do buyer agency agreements like I do, so there is no guarantee of payment with a FSBO. No payment, don't show it. I know as an investor that you aren't letting people live in your rentals for free, are you? C'mon now, bentlebee, look at it from a BUSINESS standpoint.
This is partially true. I do prefer working with an agent, because I don't know what I am getting with a FSBO. Many FSBO's are fantastic to work with, but there are those that make your life painful.
The problem with FSBO's is they are hard to find. I appreciate the ones that actually advertise, but expecting me to search hard for your home when the MLS has plenty of choices makes no sense. Make it easy for me, and yes I will show it. Yes, offering 3% helps. It means my buyer doesn't have to pay me, which makes them more likely to want to see your home.
The moral is...make it easy and yes we will work with you.
My homes are easy to locate and I advertise on several websites...not now since I'm smart enough not to sell in todays market, but to buy more. Also all my homes are top locations so realtors will even drive by and call since their buyers want to live in these communities. All close to shopping and interstates without hearing the noise or having to pay to much for CDD and HOA's. So IMO for every home sale it is location, how good does the house look, and the price, and for the rest buyers will decide if they will work with or without a realtor, so that part is not up to me!
An agent working w/ a buyer client or customer has a fuduciary duty to know and show homes available in the market...not just the MLS part of the market. In my area, seller's subagency is rare, placing additional resposibility on the buyer's agent as they do not represent the seller's interest as a subagent of the seller would........no conspiracy.
An agent working w/ a buyer client or customer has a fuduciary duty to know and show homes available in the market...not just the MLS part of the market. In my area, seller's subagency is rare, placing additional resposibility on the buyer's agent as they do not represent the seller's interest as a subagent of the seller would........no conspiracy.
It seems to me that there is as much conspiracy to back the Buyers' Agent into Dual Agency, to get that agent to compromise the Buyers' interests, by pressuring the Buyers' Agent to tell the unrepresented Seller how to proceed.
The Agent has a fiduciary duty to serve the client.
If my Buyer Client says, "I want that house," and the Seller is inept and unrepresented, how do I not help my Buyer reach their goal?
The premise of unrepresented Sellers in the MLS is based entirely on the Buyers' Agent crossing the line and serving both parties.
It is an unethical business premise, to attempt to level the playing field artificially.
Unrepresented Sellers who are not on the MLS put Buyers' Agents into similar predicaments.
But I feel as an agent, that I must scan all options for my client.
As in other types of business, being a broker , agent , etc. success depends on repeat business from the " customer". When the buy and sell market gets lopsided , a successful broker adapts with the flow, otherwise , his business will fail.
In real estate, ( non commercial ) , these days its survival of the fittest .Most customers are one time deals. Its human nature to bend the rules, or whatever , to make the sale , and get your commission. Bankers are no better, if anything , they deserve the seat,.at the bottom of the pond.....
I agree with some of the posts that focus on the duty an agent has to its client. After all, yes it's a business for the agent, but the business is to find a home for the buyer, not to find the easiest deal for the agent.
If a buyer's agent is not going to put a FSBO property on equal footing with a property that has a full-service listing agent, that needs to be made clear to the buyer up front. Then the buyer has the information it needs to get out of the business relationship what it wants for the price it wants to pay. And if an agent tries to steer their buyer away from a FSBO because the agent thinks that the seller will be difficult to work with or that it will result in more work on the agent, just be honest with your buyer.
There is a clear conflict of interets that agents have to wrestle with. Unfortunate but true. If you simply are honest with your buyer about your motivations relating to each individual property, then you are working to improve the reputation of agents, not add to the chorus of complaints.
Our company attorney years ago drafted a 1 page "Agreement of Non-Representation". Anytime we are working with a party that is not represented by an agent we make sure they sign and understand that we do not represent them in the transaction.
We want to make sure and very clear to all parties who is and who is not represented.
Quote:
Most customers are one time deals. Its human nature to bend the rules, or whatever , to make the sale , and get your commission
Man, could this not be farther from the truth for any agent (or any reputable business owner) who intends to be in the business for any length of time.
I think I should have stated it more clearly. I avoid dual agency by not advising the fsbo seller, inept or not. the additional onous on the buyer rep results from a common area practice of only allowing buyer representatives to bring a buyer or an unrepresented buyer by the listing agent [here that is not considered dual as long as I only represent the seller] vs seller subagency where the agent bringing the buyer is a subagent of the seller and buyer is unrepresented.. I know that dual agency is viewed differently in different states.....only time automatic here is if an agent from my agency brings a buyer.....then we have dual w/ designated agency. All listings/sellers in our mls come w/ representation that is the nature of "exclusive right to sell" unless the seller and buyer agree to dual w/ designated agency. W/o a rep on the other side always easy to be trapped into advising the other party.
Our company attorney years ago drafted a 1 page "Agreement of Non-Representation". Anytime we are working with a party that is not represented by an agent we make sure they sign and understand that we do not represent them in the transaction.
If I was a seller, and you put this in front of me, I would laugh. Perhaps I would sign it, after crossing out everything I didn't like and writing in other statements that I wanted you to agree to.
What is it about agents that makes them think they can "require" people who have no contractual relationship with them sign documents? This is the control aspect of the industry that is so bothersome.
"If you don't sign this document, I'll take MY buyer elsewhere!"
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Also all my homes are top locations so realtors will even drive by and call since their buyers want to live in these communities. 
honesty
