News Local National International baby travel systems Audio Video Humor Opinion Uncategorized Features Statistics Counties Neighborhoods Economy baby travel systems Extras Polls Open Thread Flickr Group Announcements Administrative Follow Us:
Here s a question for the group from Ray (of 500 Realty ), who shares an anecdote of a buyer who had their own agent asking for assistance from a listing agent to see a home when their agent was unavailable:
The buyer asked for assistance in seeing his listing because his agent was elsewhere. He reminded the listing agent that he was getting paid 3% (he assumed) to sell the property and should do everything in their power to get it sold. Buyer even offered to show the listing agent his preapproval letter. The listing agent refused.
I think Ray makes a good point. Although it may not strictly be the listing agent s job to show their listing to a buyer who is already represented by another agent, and it s certainly somewhat of a failing on the part of the buyer s agent that they aren t available, but it just seems like something basic that you would do if you were really trying to sell the home.
Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet baby travel systems technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets baby travel systems all influence his perspective on the Seattle-area real estate market.
When hiring ANY agent to sell your home and pay those OUTRAGEOUS listing fees I would strongly recommend all sellers ask their LA this exact question. You never want to limit your potential sale or EVEN WORSE hire someone who would limit it.
On the other hand, if you have an agent to represent you as a buyer, that agent is supposed to be working for you. If your agent can t even get to the house to open the door for you to let you in, what good is he? Typically, the total commission is 6%, 3% to the listing agent and 3% to the buyers agent, and comes out of the sales price paid for by the seller. But it s built in to the asking price, so if you re a buyer, where is the seller getting the money to pay these commissions? From you, the buyer. So it s sleight of hand: You re paying the commission, but it appears as though baby travel systems the seller is paying it.
If I were a listing agent, I would endeavor to get the place sold, even if it meant accommodating a buyer s agent who couldn t make it. So of course I d show it and not complain about it, that would fall under my obligation to my seller. But if I were a buyer and had my own agent to represent me, I d be a little upset that I was being thrown to the wolves, that my own agent couldn t find the time to show me the house. I wouldn t feel very well represented.
If a listing agent holds open house, perhaps he/she does not need to entertain these requests. However, many listing agents do not hold open houses and yet refuse baby travel systems to show properties under such circumstances. Those agents need to be fired, IMHO.
As I have stated in the past. I don t like anyone showing me anything. Simply open the door and let me do my tour. If I have questions about the home I would like to know the answers from the seller so I can evaluate it for accuracy and truthfulness. Then I rely on my inspection baby travel systems for further concerns . Asking a LA or a BA about a property, that most know nothing about, other then what was told to them by seller is 3rd person verbiage and we all know how facts get distorted as it gets passed person to person.
The one defense the listing baby travel systems agent could have in this story is a scheduling baby travel systems conflict. Also, sometimes the agent isn t located near the listing, but even that would depend. Just last week I drove up to Marysville to let an appraiser in because the buyer s agent wasn t available.
Seriously, if your buyer s agent cannot contribute information to the showing, they should be fired. Most buyers baby travel systems are not that experienced looking at houses, and most agents know that. It s surprising some don t.
I disagree. I find buyers are more astute then ever. They know what they want and are very cautious. Rightfully so. The bubble had educated a new generation of Buyers how truly dysfunctional baby travel systems and useless the typical baby travel systems agent is.
Well, if the buyer buys the house based on the showing is the listing agent the procuring cause? If the buyer proceeds with a transaction, and comes to a dispute claiming the listing agent told them something, who s liability insurance covers that?
I would go farther and ask Redfin to allow people who have viewed a home to leave comments as well. I don t know how you would screen out those who are serious about it, but I would find others opinions useful.
It s a good idea. Right now, pretty much any idiot out there can become a real estate agent, and plenty of them have. There aren t that many agents out there who are effective advocates on their client s behalf. baby travel systems Besides the drooling moron types who can barely fill out a form, there are also those agents out there who have a primary goal of making money fast, the slick salesman type. What s good for them isn t necessarily good for you. Doesn t matter if they don t have satisfied customers, they can always find new suckers.
I disagree. I find buyers are more astute then ever. They know what they want and are very cautious. baby travel systems Rightfully so. The bubble had educated a new generation of Buyers how truly dysfunctional and useless the typical agent is.
Like you, they don t know what they don t know. I m actually surprised how few buyers even know anything at all about the different types of siding that are out there. Once you get inside the house, there are a lot more things the typical buyer doesn t know about.
The problem is the consumer would typically have no idea. I ve mentioned in the past the bankruptcy client baby travel systems who thought her divorce attorney was fantastic and the husband s attorney an idiot. It was actually the other way around, baby travel systems but the client liked her attorney baby travel systems better because her attorney made arguments baby travel systems on her behalf. The same would be true of client/agent relationships.
But you said above that you can t contribute anything to the showing. That you should just shut up and step aside so that the buyer can do their thing. How is contributing nothing baby travel systems going to ever have value?
Most often it involves having the client not buy a property, or not even make an offer on a property. baby travel systems For example, on a topic we ve discussed baby travel systems here before, steering clients away from bank owned properties on septic, or investors planning on renting away from any property on septic. A mistake there could easily cost a client $20,000, but those properties look attractive to many clients because they are typically priced significantly lower.
Another time a client was interested in a house that had both LP siding baby travel systems and a recalled Pabco roof product. baby travel systems The client didn t know about either of those things, but after learning about them they did not make an offer on that property.
Another time a client baby travel systems was interested in a house with a Masonite style roof (which btw originally had LP siding too, which was covered with vinyl). He wanted to make an offer on it, in part based on a drive by roof bid he obtained. The roofer s bid didn t include sheeting the entire roof with particle board/plywood because he couldn t determine that was necessary baby travel systems from the drive by.
And relying on inspectors? Yet another area. The worst inspectors are typically the ones where the client finds them based on a referral of a friend or relative. Just the referral process of an inspector by the agent can be valuable (assuming the agent isn t looking for inspectors that just brush over important conditions). Two of the worst missed condition situations I ve had in my career were both where the client picked the inspector. One of them could have been deadly.
As to a transaction which actually closed, I ve had three or four multiple bid situations this year where my client won without bidding the most money. In one case we were outbid by more than both agent s commissions put together more than 6%. The bank actually accepted a higher offer, but we kept pushing explaining why our bid was better, and the bank revoked its acceptance of that higher offer. Going back to the prior year, my client won out in a bankruptcy baby travel systems multiple bid offer without making a higher offer because I understood the bankruptcy process and knew when to keep my best offer off the table. Both those houses were what I would consider my clients dream houses and they both got them without having to outbidding another buyer, but most importantly they got the house. That was very important to the client baby travel systems in each situation.
Not mentioned in this thread are the listing agents which put comments in their listing that say the selling office commission is some reduced number if the buyer s agent isn t present at all showings. That is the type of listing agent I would avoid. The seller s goal is to sell their house, and that does not in any way further that goal.
Alas we find a problem here The individual Agent s SELF VALUED IMPORTANCE of themselves to a transaction. Buyers and sellers will NOT tolerate this 6% SHAM forever. But, until that day AGENTS ..Enjoy the Buffet!
I had Sunny and Greg Butler selling my McMansion in Woodinville. They refused to show the house to the guy who ultimately bought baby travel systems it, so I did. I was shocked. I basically sold my house myself, and had to pay Sunny and Greg for the right to see their plastic smlies and for them to advertise to buyer clients in front of my house. Sick.
I agree and would not recommend showing the house myself either, Kary. However, I had a huge liability to sell .and it wasn t happening without me. And, Lo and Behold! I sold it. Where s my $54,000 payday?
As for Redfin, vs. a good agent, I have yet to meet a good agent. Buyers agents? They are always trying to sell me whatever house I m in. Sellers agents? Always trying to sell themselves. At least my Redfin baby travel systems buyers agents have been suitably disinterested, which helps me. Not sure what I ll do next time I s
No comments:
Post a Comment