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The trick is to understand what "priced correctly" entails given the size and condition of home, the lot, the demographics of the neighborhood, and it's location relative to other venues such as employment centers, schools, or recreational areas.
The seller can have their real estate attorney price the property. He'll be happy to run the comps after he's toured the house and come up with an accurate value and also consult on pricing strategy.
The seller can have their real estate attorney price the property. He'll be happy to run the comps after he's toured the house and come up with an accurate value and also consult on pricing strategy.
No. That would work only in states where an Attorney close is normal. No where in the west where Attorney's are not generally involved in a normal close.
Even in Attorney Close states I doubt very many Attorneys are expert at market value.
1% is incredibly cheap. It is going to insult the realtors who may have considered showing your property. Typical commission for the buying side of a real estate transaction is 2% to 3% and you should set your rate accordingly.
more and more consumers would do this if agents didn't control the buyer pool by locking them into contracts which they really don't understand. more fsbo sales would get done and there would be more "real" competition in the market. any agent arguing against this just has to look to the title of this thread. education is key.
Couldn't agree more, 75% of real estate is educating the client. Wonder how many people know who the agent of a buyer works for without a buyer agency agreement.
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Originally Posted by TosaJoe
Couldn't agree more, 75% of real estate is educating the client. Wonder how many people know who the agent of a buyer works for without a buyer agency agreement.
Have to agree with this. When I was a Realtor, I would not introduce my clients to home with a a commission less than 2%. If my client found it on their own, I might suggest they contact the listing agent directly and ask the listing agent for a finder's fee. Not generally worth the time and effort to show such a listing.
Couldn't agree more, 75% of real estate is educating the client. Wonder how many people know who the agent of a buyer works for without a buyer agency agreement.
In NV and most states the Buyer's Agent works for the buyer. Lots of folklore to the contrasry but not true. The agency is implied by the conversation.
There are states where a Buyer's Broker Agreement is required. They are optional here (NV) and rarely used. I don't know that the compensation clause is set however...likely negotiable.
In North Carolina, if the agent is presenting themselves as representing a buyer, they must have a written agency agreement to write and present an offer.
Until time to write an offer, the parties may verbally agree that the agent is working as a buyers' agent. That verbal agreement include all the specific items that must be addressed in a written agreement, and must be non-exclusive.
Buyers should not sign a buyers' agency agreement without the right to terminate. Nor should agents.
Last edited by MikeJaquish; 12-20-2015 at 01:23 PM..
In NV and most states the Buyer's Agent works for the buyer. Lots of folklore to the contrasry but not true. The agency is implied by the conversation.
Not sure this is true. An exclusive buyers agent under contract maybe, but not a buyers agent in general working without a contract.
Not sure this is true. An exclusive buyers agent under contract maybe, but not a buyers agent in general working without a contract.
Whether or not there is a written contract, a Buyer's Agent works for the Buyer. If they're not working for the Buyer's interests, then they are not a Buyer's Agent. Many states require a written agency disclosure and/or agreement so that there is no misunderstanding.
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