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Just because the poster claimed the Realtor was "my Realtor" does not mean that an agency relationship existed.
Just because the Realtor suggested an new appraisal does not mean s/he was not acting in the best interest of the client.
What if the appraiser did a very poor job?
What if the seller would not meet the appraised value?
An appraisal is an opinion of value. Since May, I have seen lots of out of area appraisers, appraisers not want to hear about the property from my standpoint.
Appraisers need to know what I know about the house. I no longer keep a lockbox on the property after inspection.
Just because the poster claimed the Realtor was "my Realtor" does not mean that an agency relationship existed.
Just because the Realtor suggested an new appraisal does not mean s/he was not acting in the best interest of the client.
What if the appraiser did a very poor job?
What if the seller would not meet the appraised value?
An appraisal is an opinion of value. Since May, I have seen lots of out of area appraisers, appraisers not want to hear about the property from my standpoint.
Appraisers need to know what I know about the house. I no longer keep a lockbox on the property after inspection.
It's not against the rules to ask something of the bank on behalf of the client/customer when the client/customer has explicitly told you not too? Really?
Just because the poster claimed the Realtor was "my Realtor" does not mean that an agency relationship existed.
Just because the Realtor suggested an new appraisal does not mean s/he was not acting in the best interest of the client.
What if the appraiser did a very poor job?
What if the seller would not meet the appraised value?
An appraisal is an opinion of value. Since May, I have seen lots of out of area appraisers, appraisers not want to hear about the property from my standpoint.
Appraisers need to know what I know about the house. I no longer keep a lockbox on the property after inspection.
As you know, If the appriaser did a poor job, to the detriment of the seller, that is the listing agents responsibility to challenge, not the buyers agent.
You are correct in asking for more information about "my agent". We have seen too many times where a buyer "assumed" that the sellers agent, who showed them the house, was also their agent. NOT SO FOLKS. She represents the seller.
In that case, she would be justified in challenging the appraisel.....
IF, however, the relationship is truly with the buyer, than she has no business challenging an appraisal that BENEFITS her client, the buyer....
We made an offer on a house, then the house appraised for less. I told my realtor that was great for us. She said, "We'll get another appraisal." That was my realtor talking. I told her no way. She even called the bank without telling me and asked if they could have another appraisal! The bank said no, too. The seller accepted the value and reduced the price, but I still have my doubts that we will close
Quote:
Originally Posted by Silverfall
I would file a complaint with the real estate board. That violates their fiduciary duties to you.
I agree 100% with SF based upon your clarification.
Just because the Realtor suggested an new appraisal does not mean s/he was not acting in the best interest of the client.
Maybe I just don't understand it, but could you please explain how a new appraisal would benefit the buyer in this case?
When we bought our house and if the appraisal had come in a few thousand lower than the asking price and it in turn helped us pay less for the house, I would have choked our agent if he had asked for a 2nd one lol.
Just on the surface without knowing all the details, it would appear the agent wanted more commission on a higher sales price instead of working for the buyers best interest.
Just because the poster claimed the Realtor was "my Realtor" does not mean that an agency relationship existed.
Just because the Realtor suggested an new appraisal does not mean s/he was not acting in the best interest of the client.
What if the appraiser did a very poor job?
What if the seller would not meet the appraised value?
An appraisal is an opinion of value. Since May, I have seen lots of out of area appraisers, appraisers not want to hear about the property from my standpoint.
Appraisers need to know what I know about the house. I no longer keep a lockbox on the property after inspection.
If it's possible to give a negative rep, I would do for this post, lol.
The poster said twice "my realtor"--in bold and you question what's my realtor means and should work against the buyer's interest--unbelievable. I was surprised when I read first, not anymore!
If it's possible to give a negative rep, I would do for this post, lol.
The poster said twice "my realtor"--in bold and you question what's my realtor means and should work against the buyer's interest--unbelievable. I was surprised when I read first, not anymore!
Actually, "my Realtor" all too often means an unrepresented buyer on this forum.
Some folks just do not understand the nature of agency. And I'm not saying the poster does or doesn't understand.
I just never assume "my Realtor" means a buyer's agent unless "buyer's agent" is spelled out.
Actually, "my Realtor" all too often means an unrepresented buyer on this forum.
Some folks just do not understand the nature of agency. And I'm not saying the poster does or doesn't understand.
I just never assume "my Realtor" means a buyer's agent unless "buyer's agent" is spelled out.
Exactly. That confusion is one reason that, in Texas, all agents are required, upon first substantive meeting, to give the information about how agency works in Texas (there's even a form that spells it out pretty clearly in plain English) BEFORE working for the customer (who becomes a client once they have an official agreement to represent the buyer, not just by showing them some houses - until that point, they represent the seller's interests even if they've never met them and the seller is listed with another agency). It's because of that confusion that just because someone says, "my agent" or "my Realtor", you can't assume that they actually have representation, and also why we are supposed to ask right off the bat, "Have you signed with an agent?"
So, to the poster in question, a bit after the fact, did you sign a buyer's rep agreement with this agent?
I agree 100% with SF based upon your clarification.
With that clarification, yes, I agree with both agents on this.
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