Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This would be my first experience doing this, so I do fear not being properly prepared, which is why there is no way I would do this w/o a RE attorney.
On the other hand, I have learned from others mistakes, and I'm pretty aware of the pitfalls that some of the others have alluded to. But when you do something for the first time, there is always the danger of screwing something up. But then if you don't ever try, you never end up learning for yourself.
Just make sure that when you're trying something for the 'first time' your learning experience doesn't cost you thousands upon thousands of dollars, okay? Seems like you're using a limited agent to simply put your home on the MLS for exposure and to show buyer agent commissions, so make sure your RE attorney has a proven track record for handling the remaining aspects of the transaction - then your bases are covered, you can learn by watching how your RE attorney handles things and not yourself in the process. In other words, you don't want your learning experience to cost as much as 4 years of law school
On the flip side of that, I had an agent who either would not return my calls or emails at all, or did so only after I had to follow up with subsequent calls/emails. In some cases, I got no response at all.
That's not the kind of "representation" I was hoping for.
(of course, I have enough common decency and respect not to call them at odd hours of the day).
The bottom line is that no one cares about the sale of your home more than you do.
Well any agent who doesn't return a clients phone calls or emails, shouldn't be in the profession to begin with - but, like any other profession whether doctors, lawyers, etc. there are the bad seeds out there. Guess the flip side of down market in a lot of areas is that a lot of those types of agents will be weeded out.
On the flip side of that, I had an agent who either would not return my calls or emails at all, or did so only after I had to follow up with subsequent calls/emails. In some cases, I got no response at all.
If I was on the consumer end of this sort of relationship, I would accelerate it to the Managing Broker level with the intent of termination of the listing.
On the other hand, I would not hire an agent unless I was reasonably certain we were on the same page in terms of frequency of contact and media.
With the MLS type of service you are LEGALLY represented by a real estate agent. You are just represented in a different way. From a legal standpoint you have an agency relationship with the brokerage that does the MLS listing for you.
Exactly. And when you have an agency relationship with a brokerage, that legally limits what agents with other brokerages can do with/for you, even if they'd prefer to help you out. It's not worth their license to do so.
So you've paid for limited representation, and that's exactly what you're getting - just as much representation as you've paid the discount broker to give you. As long as you're comfortable with doing everything else yourself, and you don't expect the buyer's agent to do the work for you that the discount broker is not doing for you, that's fine.
As long as you're comfortable with doing everything else yourself, and you don't expect the buyer's agent to do the work for you that the discount broker is not doing for you, that's fine.
What would I possibly expect the buyer agent to do? Just curious what your experiences have been, so as not to repeat others mistakes.
What would I possibly expect the buyer agent to do? Just curious what your experiences have been, so as not to repeat others mistakes.
Often times what happens is that the sellers start asking contractual questions of the buyer agent. They don't understand the process or the contract so they ask the buyer agent.
Often times what happens is that the sellers start asking contractual questions of the buyer agent. They don't understand the process or the contract so they ask the buyer agent.
Ah, well that's what real estate attorneys are for.
I can't imagine a seller trying to sell their home if they were both unfamiliar with the legal process and they didn't hire an attorney.
Ah, well that's what real estate attorneys are for.
I can't imagine a seller trying to sell their home if they were both unfamiliar with the legal process and they didn't hire an attorney.
Happens all the time.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
yourself in the process. In other words, you don't want your learning experience to cost as much as 4 years of law school
