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TRANSLATION: Agents know that a buyer who knows what he's doing isn't going to be led around like a puppy dog on a leash. Consequently, the agent won't be able to get away with their typical "snow job" on the buyer.
Yes, the agent typically wants another agent involved as a buffer so that when they screw up they can point their finger at the other agent to share in the blame.
You're not functionally fluent in "Integrity," Chuckles.
So, your translation is gibberish.
I started as a Real Estate Broker/ not a salesperson in 1987. Interest rates were 16.5 percent and knowing how to do the correct math to structure a deal was my responsibility. I also qualified a buyer who came into my office wanting to "buy a house". You can't believe the number of great people/individuals as well as couples who had been turned down by the broker "up the street" because they didn't "look" like they had any money. In most cases, these were the most qualified buyers I had worked with in some time. Every time I listed a property, the sellers wanted me to "sell it" for whatever reason they had at the time. Many I did and at the closing table, all felt treated fairly. I also sold my own home and disclosed, disclosed to the buyer but they didn't want another agent. Deal went very smoothly. As someone has said on this thread, this is just smoke and mirrors to justify what always happened. The commission fee was set by the seller. The fee was disclosed via the MLS so the buyers agency knew what they would receive at the close of the transaction. If the agent who brough the buyer actually worked so the transaction was smooth, I was surprised. Many did...most did not. Real estate is not brain surgery....NAR and he brokers who own the big agencies with tons of people turning over their cash to them, needs to be brought in line. This is the only business wherein someone gives you your inventory to sell for a reasonable price....not an inflated price. And then everyone, from the attorneys to the loan officer, to the real estate companies, to the agents involved, get their piece of the pie. This cannot be news to the majority of sellers out there. I do have to say that as a listing agent, I really got tired of negotiating a commission for a nameless, faceless person who would waltz through the door with a person who liked the house. The house sells itself, individuals do not. If you want a 4 bedroom home ...there is no way I can sell you a 2 bedroom home, even if it is "cute". I would have been really happy to ljust negotiate a price for which I would work for them. Some were listing they 3rd or 4th home with me. Of course, they deserved a major discount, but because I had to state the buyer's agency fee.....I could not give the discount I might have liked to give. It is a Barnicle Business.....people who learn to take a test, attach themselves to a company's managing broker who promises them many things for a "percentage" of what they bring in house.....and those people think they couldn't do this job on their own. They can and many do successfully, I might add.
I enjoy reading your point of view on these topics, but PLEASE learn to break your long posts into smaller paragraphs that will make it easier to read. My eyes tend to glaze over whenever I encounter a 500-word paragraph.
TRANSLATION: Agents know that a buyer who knows what he's doing isn't going to be led around like a puppy dog on a leash. Consequently, the agent won't be able to get away with their typical "snow job" on the buyer.
Yes, the agent typically wants another agent involved as a buffer so that when they screw up they can point their finger at the other agent to share in the blame.
This idea that we're just looking to do any kind of "snow job" is rubbish.
Clients who value and appreciate us are fun to serve. Clients who think we're out to trick or "snow them" are emotionally draining. That should not be hard to understand for anyone who has had to work with people.
I’ve used a real estate attorney in lieu of a buyer’s agent. Works just as well in most (not all!) cases and saves a load of cash.
RM
Ding. Ding. Ding.
This is the right solution. You get exactly what you pay for. A good real estate attorney will ensure that nothing is overlooked at closing or during the contract/negotiation process. And there is no potential for conflict of interest assuming he/she is independent.
I have bought/sold a number of houses and in every case, the services that agents provided to me me were worth a fraction of the commissions they received. It's not that they were useless or incompetent, just grossly overpaid.
This is the right solution. You get exactly what you pay for. A good real estate attorney will ensure that nothing is overlooked at closing or during the contract/negotiation process. And there is no potential for conflict of interest assuming he/she is independent.
I have bought/sold a number of houses and in every case, the services that agents provided to me me were worth a fraction of the commissions they received. It's not that they were useless or incompetent, just grossly overpaid.
A good real estate attorney can certainly see that the transaction is LEGAL and perhaps even advise you of certain loopholes in the contract that, while legal, may not be in your best interest.
However, in fairness to the realtors, the attorney can't advise you at all on the pros or cons of the purchase or the fairness of the purchase price. You might be buying a grossly overprice lemon, but the contract binding you to the sale could be perfectly legal.
A good real estate attorney can certainly see that the transaction is LEGAL and perhaps even advise you of certain loopholes in the contract that, while legal, may not be in your best interest.
However, in fairness to the realtors, the attorney can't advise you at all on the pros or cons of the purchase or the fairness of the purchase price. You might be buying a grossly overprice lemon, but the contract binding you to the sale could be perfectly legal.
That's very true. And like I said - realtors do provide that service and many others.
But on the purchase of a $300,000 home are those services worth almost $18,000? What if that search and sale or purchase transaction takes place in a matter of days? This is price gouging, pure and simple.
Just a matter of time before real estate agents and the commission system are a thing of the past. Just like auto dealerships are rapidly disappearing.
Most buyers do their own "search" online these days.
Agents that tell you their value is in the search aren't worth anything. Of all the things that buyers need help with finding homes to look at is pretty low on the list.
Unless of course, you find out about a house coming up for sale that isn't listed with an agent that checks every single box your buyer has except 1 so you negotiate directly with the owner (because you are a pro and don't care if the seller represents themselves) and get them under contract on that house. Those times are when you need an agent to help you find a home.
That's very true. And like I said - realtors do provide that service and many others.
But on the purchase of a $300,000 home are those services worth almost $18,000? What if that search and sale or purchase transaction takes place in a matter of days? This is price gouging, pure and simple.
Just a matter of time before real estate agents and the commission system are a thing of the past. Just like auto dealerships are rapidly disappearing.
Anyone citing a 6% commission in a national market where commissions average ~5% is too out of touch to be taken seriously.
And, what if the search takes 2 years, involves writing multiple offers, after showing a few dozen houses?
That is just as reasonable a question.
This is the right solution. You get exactly what you pay for. A good real estate attorney will ensure that nothing is overlooked at closing or during the contract/negotiation process. And there is no potential for conflict of interest assuming he/she is independent.
I have bought/sold a number of houses and in every case, the services that agents provided to me me were worth a fraction of the commissions they received. It's not that they were useless or incompetent, just grossly overpaid.
So, your attorney shows the house, looks at systems and structure and guides you on pricing and condition before committing any of your funds to a seller?
Interesting.....
It is not a service I often see provided by attorneys.
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