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.
The answer is the same for both selling and buying. You want a Realtor who who is committed to his/her client. Whether working for the buyer or for the seller, the Realtor should work to bring about the best possible outcome for the person he/she is representing. Professional Realtors understand fiduciary responsibility and are loyal to their clients.
The key is to work with someone you know or someone who is recommended by a friend. Unfortunately, education and training don't always equal integrity.
When we've looked at homes in the past we've noticed some realtors telling us things like, "I happen to know these people are eager to sell due to a divorce (or having already moved out of state) or whatever."
The realtors have told us we can make a lower offer because the owner is more desperate.
It seems to me the only way any realtor would have that inside information is if the listing agent gave it to them.
I'm not sure how to ensure a listing agent won't do something like that. To me that's not representing the buyer. It's just trying to get the house sold even if it's for dirt.
You'd be surprised how much information that realtors can get through their network of contacts. It may not come directly though the seller's realtor, either. My neighbor is a realtor, and he could double as a detective w/o much work. He is also very computer savy and kind find all sorts of 'relevant' data. Divorce records are public, and it is often obvious to a agent that previews a house that it has been empty for a while.
On the other hand, if you have an agent who is new, I suspect they can be 'mined' for information that you would rather not give out. Go with a veteran realtor that is not dependent on quick sells. The good ones always seem to have a steady stream of closings, and if yours closes today or next month will not matter to them (financially).
I work for a land title company here in my hometown, so we deal with realtors daily. We find that most people look for someone who is going to go that extra mile in helping them sell/buy a home. We have alot of repeats from some of our realtors and people can't seem to say enough about how good their services have been. So check around with people you might know that have sold/bought a home and see if they could recommend someone personally.
When we've looked at homes in the past we've noticed some realtors telling us things like, "I happen to know these people are eager to sell due to a divorce (or having already moved out of state) or whatever."
The realtors have told us we can make a lower offer because the owner is more desperate.
It seems to me the only way any realtor would have that inside information is if the listing agent gave it to them.
I'm not sure how to ensure a listing agent won't do something like that. To me that's not representing the buyer. It's just trying to get the house sold even if it's for dirt.
Any thoughts?
Yes, any of the above disclosures from a Realtor to a buyer regarding the financial or personal situation of the seller is against the law. These are not professionals, they are hackers and are most likely not even in business anymore (a) because they lost their license, or (b) got bad reputations and made no money.
Look for Realtors who have been in business a long time in their area of sales. A Buyer's agent who has you sign a Buyer's Agency AGreement is just that, your agent, and not the agent of the seller. The listing agent is the agent for the seller and cannot reveal anything of a fiduciary nature to a buyer's agent.
There are some real hackers out there .... interview the agent and get his/her background.
A key word here is "Realtor". By being a Realtor, we are held to ethics as defined by the National Realtors Association.
A buyers agent should represent the buyer and share all information he/she knows about the home within the Realtors guidelines. The listing agent should represent the seller, protect the seller and get the best price for their home.
In both cases, the Realtor should keep confidential the private information about their clients.
A buyers agent has the duty to let the potential buyer know if they have the opportunity to get a home at a lower price. Sometimes the listing agent has the permission of the seller to tell buyers agents information about the sellers in order to get a home sold faster. I have had a couple of cases where the seller agent has given me information about the listing to tell my buyers.
However, I do agree and believe that those real estate agents who do research like a detective to find out if a seller is in a bad situation, is not a good person to deal with.
Hope this information helps.
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.
Best Selling/Buying Realtor
