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I'm just curious what your thoughts are on this....
If the listing agent has to split the commission with the buyer's agent, sometimes I wonder if these offers aren't even presented to the sellers if others come in at the same/similar price, but no buyer's agent.
Sellers agent must present all offers to the sellers regardless of the agency of the buyers. You are always better to have your own representation. Get a buyer's agent!
I'm just curious what your thoughts are on this....
If the listing agent has to split the commission with the buyer's agent, sometimes I wonder if these offers aren't even presented to the sellers if others come in at the same/similar price, but no buyer's agent.
Well, if you have an unethical, dishonest, unscrupulous and greedy listing agent, perhaps -- but as an agent, we are required to present ALL offers, unless we have specific instructions not to present anything under X amount. And even then, we have to notify the seller that the offer has been received.
Well, if you have an unethical, dishonest, unscrupulous and greedy listing agent, perhaps -- but as an agent, we are required to present ALL offers, unless we have specific instructions not to present anything under X amount. And even then, we have to notify the seller that the offer has been received.
In Colorado, the listing contract says the brokerage will get all of the commission. Then it says if there is another brokerage involved, the listing brokerage will share xx% with the selling brokerage. https://drive.google.com/file/d/0B1Q...NuUHRGNEk/view See 7.1 and 7.2
There are not two commissions paid by the seller. There is one, paid when the job is completed, or flat fee - per the signed written contract between brokerage an seller.
The right buyer's agent will find you properties which you would never know about and/or get you a better deal than you would on your own or save you from making big mistake.
That is your representative not the seller's--the real estate agent is typically the seller's representative. A buyer's agent should be your expert. Shop for one like you would any key employee.
While I'd assume that I'd still be represented by the seller's agent if I didn't have a buyer's agent, I would think that her first priority is to the seller and wouldn't expect her to provide the same advice/insight that a standalone buyer's agent would. Thankfully, both the seller's agent and the buyer's agent on the deal I'm working on now have been great, with the seller's agent being particularly reasonable.
That would be a very bad assumption, unless early on in the discussion (phone inquiry, email before meeting you, early in the showing of the home) they explained dual agency and whether it's allowed in your state. And then I'd make sure that they helped me consider other homes, that they weren't the listing agent on, before I wrote an offer with them on the first house.
That would be a very bad assumption, unless early on in the discussion (phone inquiry, email before meeting you, early in the showing of the home) they explained dual agency and whether it's allowed in your state. And then I'd make sure that they helped me consider other homes, that they weren't the listing agent on, before I wrote an offer with them on the first house.
While I'd assume that I'd still be represented by the seller's agent if I didn't have a buyer's agent, I would think that her first priority is to the seller and wouldn't expect her to provide the same advice/insight that a standalone buyer's agent would. Thankfully, both the seller's agent and the buyer's agent on the deal I'm working on now have been great, with the seller's agent being particularly reasonable.
Well, you know what happens when you assume . . . :-)
You are correct -- if the seller has a listing agent, the only way that the agent could represent both of you is through what is known as "dual agency," where the agent represents both clients. Many brokerages do not allow this, realizing that it is almost impossible for an agent to represent such widely divergent goals -- one wants to sell for the most, one wants to buy for the least. If repairs are needed, who does the agent negotiate with -- themselves? Always make sure that your buyer's agent is representing ONLY you in the transaction.
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