Agent knowledge of variouis parameters (MLS, broker, disclosing, value)
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I was selling a house when the issue of sharing information with my agent arose.
I was selling my house as part of a corporate relocation package. As part of the package, my employer offered to buy my house at a price determined by their appraiser, but I was free to sell the house on my own if I wanted. Their offer provided me with a floor price that was guaranteed with no contingencies. I decided to put the house on MLS and see what the market would offer. My agent wanted to know the company offer. I declined to share it with her.
The market offers were higher than the company offer, so we sold the house through the agent for the higher price.
We never told her the company price. There was no reason for her to know this information.
I have bought 10 properties and while the letter states how much I am qualified to buy I have never once spent that much. I only buy what’s comfortable and don’t want to stretch my budget. Unless the market supports it a seller won’t counter with a price up to your maximum budget which is what I think you are worried about.
I have had some agents wanting me to spend the maximum I can afford and I tell them I am not doing that and don’t want to look at homes outside of my budget. If they don’t respect that decision I find a different agent.
What about the contract you have with the agent?
3 months or 6 months and you only find out about red after you have entered in an agreement with them.
What about the contract you have with the agent?
3 months or 6 months and you only find out about red after you have entered in an agreement with them.
When I am the buyer I have never signed a contract so I can get rid of them if I want to. 3 years ago I contacted an agent that was recommended. My ex was buying me out of our house and I was buying a condo. She tried to convince me to put the house on the market with her. Why would I do that?
Then she kept telling me that no condos will let you have 2 dogs so I should get rid of one. I started calling places and that wasn’t true. Then she didn’t want to show me condos until the house had closed . After being jerked around for 3 weeks I fired her.
My new agent started to show me condos the next day. My ex’s loan fell through and my new realtor got the house listing. Due to this situation which wasn’t my fault I couldn’t close on my condo per the contract on time and he worked with the other realtor to get me a 5 week extension in a hot market. This agent earned every penny because if not for him I would have lost the condo which had everything I wanted in my price range.
When I did the walk through I asked the seller’s realtor to tell the sellers how much I appreciated their patience and he said my realtor had explained my situation weeks ago which is why they decided to be patient with closing. They also knew my financing wouldn’t fall through as I was putting down 60% of the purchase price.
When I am the buyer I have never signed a contract so I can get rid of them if I want to. 3 years ago I contacted an agent that was recommended. My ex was buying me out of our house and I was buying a condo. She tried to convince me to put the house on the market with her. Why would I do that?
I had an agreement in 2022 for 6 months I think and I wanted out of it after several weeks due no shows being out of town for a weekend and other misc. "lack of" and the agent fought it up to a point. Finally I got out of it.
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6% commissions are going away? https://www.nbcnewyork.com/news/nati...-rule/5238942/
What will that create for buyers such as no representation due to low fees due to low priced properties.
I, you, we might have to offer 6% to get help if the seller won't pay some "set fee." Or disagreement among all parties over the fee amount. At least 6% was somewhat fixed and everyone knew what for who.
I am beginning to think Chas and Mike just need to move to the Relationships forum.
There's nothing wrong with a bit of debate when a stubborn dilettante is getting his jollies posting inanities and misleading crap to hurt people for giggles.
Howard is struggling and deserves factual help, not narcissistic self-congratulatory blowhard blather from someone with no experience in the thread topic.
What about the contract you have with the agent?
3 months or 6 months and you only find out about red after you have entered in an agreement with them.
I've been saying for years: Never sign a buyer's agency agreement that doesn't give you the right to unilaterally terminate.
I did that with all buyers.
Colorado state’s exclusive right to buy has a section for termination. It’s a perceived dereliction of duties as a reason to terminate.
I imagine that after the NAR settlement is approved that buyers will be signing many agency contracts that are property specific.
Gone is procuring cause. Gone is the MLS offer of compensation. Gone is the MLS arbitration for compensation. I have had my share of compensation disputes where the listing brokerage changed the coop fee offered after the acceptance of the offer.
.... I have had my share of compensation disputes where the listing brokerage changed the coop fee offered after the acceptance of the offer.
Yoiks.
Did/Does the MLS back you up?
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