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They state that half of all buyers cried at some point of their home buying journey. The connotation is they are tears of sadness or frustration, but I’d say they are equal amounts of happy tears. So many buyers get emotional when their offer is accepted, their loan is approved or they close on their dream house.
Oh, and these touring agreements are not legal in Colorado.
1. We have standard duties that must be performed and this fall short
2. Only the real estate commission can promulgate forms or a licensed Colorado attorney. If an attorney drafts a document, that document is only for the use of that brokerage and has to be clearly stated.
3. There is no definition of Broker, customer or client.
4. There is no penalty for violating this agreement.
We just mandated buyer agency agreements this February but the administrative rules are still being created so I'm not sure what they will require within the documents or when they have to be signed. I know we generally follow Colorado so I expect the requirements to look similar.
The touring agreement seems to defeat the point of a buyer agency agreement, but at least here we don't have a minimum level of service so touring could be the only real estate activity, but it would still be an agency relationship.
Well, Z has never been known for strictly observing ethical or legal boundaries.
But does this section not keep Z within the law on the point of representation?
"(c) Buyer and Broker agree that they are not entering into an agency relationship and Buyer is not a
client."
I'm sure there will be a great variance by state on whether it meets laws and guidelines. I've seen this but not looked into much. Who is the contract actually with and who does Z expect to show the homes to these customers? Are they expecting agents at other brokerages to use their agreement?
I won't be signing any Zillow forms with buyers wanting to see homes. I would be willing to use our locally provided state, MLS and local company forms for buyers, as I already do.
I'm sure there will be a great variance by state on whether it meets laws and guidelines. I've seen this but not looked into much. Who is the contract actually with and who does Z expect to show the homes to these customers? Are they expecting agents at other brokerages to use their agreement?
I expect their Flex Agents will be required to use them. I think they still sell zipcodes too but I'm not sure on that.
I wonder if Big Z is one of the next lawsuit targets? This feels like a weak CYA attempt. I don't track them, but are they losing paying agents by the droves right now?
I wonder if Big Z is one of the next lawsuit targets? This feels like a weak CYA attempt. I don't track them, but are they losing paying agents by the droves right now?
Income structures may not be enough to support fees to another 3rd party. You'd think Relocation companies would be concerned also.
Income structures may not be enough to support fees to another 3rd party. You'd think Relocation companies would be concerned also.
I know one of the Flex Agents here and he pays out 40%. Our BACs have dropped here since we decoupled. I don't see how agents can pay that high fee and still make money unless they can get buyers to make up the difference.
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