Realtor Opinion Needed ~ which Realtor to work with? (agents, Realtors, agreements)
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The market is softening up a bit in our area, but homes with views on premium lots are still in demand. We have such a house. But we are interested in making an offer on another house in our community. that house is also on a view lot but has a west orientation, our has north. But we like that house. Its overpriced and has been on the market 34 days, a long time for view lots here.
We want to make an offer contingent on the sale of our house. We know contingent offers are very, very unpopular with sellers. We are debating whether to use our (Redfin) realtor who we have used in the past and we like their rebates. Or, just use the listing agent (as duel agency) on the house we want because she would also get our house to list so would be motivated to encourage her buyers to look extra hard at our deal.
If the agent is motivated to undercut her current client to line her pockets with your listing, what makes you think she will treat you more ethically than the current client?
If the agent is motivated to undercut her current client to line her pockets with your listing, what makes you think she will treat you more ethically than the current client?
The term "duel" is used when each person, armed with a pistol walks 10 paces turns around and shoots at their opponent. "Dual" agency is when a single realtor represents the buyer and the seller in the same transaction.
If the agent is motivated to undercut her current client to line her pockets with your listing, what makes you think she will treat you more ethically than the current client?
Is that a quick jump on your part? By that logic, there should never be ANY dual agency deals.
Is that a quick jump on your part? By that logic, there should never be ANY dual agency deals.
You misinterpret to a degree.
IF the agent finds a reason to favor an offer because it will make her more money, that is a huge red flag regarding ethics.
But, FWIW, dual agency is not legal in all states. It certainly can be problematic.
I worked hard to avoid getting into dual agency and advised all my buyers and sellers to not allow it in initial listing and buyers agency agreements.
I referred buyers out without a referral fee when they wanted to move forward on my listings.
The market is softening up a bit in our area, but homes with views on premium lots are still in demand. We have such a house. But we are interested in making an offer on another house in our community. that house is also on a view lot but has a west orientation, our has north. But we like that house. Its overpriced and has been on the market 34 days, a long time for view lots here.
We want to make an offer contingent on the sale of our house. We know contingent offers are very, very unpopular with sellers. We are debating whether to use our (Redfin) realtor who we have used in the past and we like their rebates. Or, just use the listing agent (as duel agency) on the house we want because she would also get our house to list so would be motivated to encourage her buyers to look extra hard at our deal.
Your thoughts as realtors?
Perhaps other Realtors engage in hard selling their clients more than I do, but the decision on your offer will depend on what the sellers think of your offer, not what their agent thinks. I don't sit and try to talk clients into accepting an offer. I explain the offer to them, they make up their own mind. If there is negotiation to happen in this scenario, it should be to talk the buyer into a higher price, not seller into a lower one. They work for the seller.
I think very simple and friendly as-is sales can sometimes be managed just fine without two agents. That said, I don't think contingent lowball offers usually fall in to that category. This is a situation likely to create ill-will by a seller who will feel like they were taken advantage of before it's over.
Make your best offer through your agent and hope for the best.
So the choices are an agent that gives you a rebate or an agent that you're hoping isn't ethical? Doesn't sound like much of a choice. Which one do you prefer?
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