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Hi guys. I never sold a house before so I am unfamiliar with the process. I have a situation that I am thinking over:
situation 1: I already hired a real estate agent to sell my home but the house isn't even listed yet. It's still very early in the game. She is charging 5 percent and she works for a big-time real estate agent. I chose her because she sold a house, exactly like mine, which is located down the street, for a few thousand above asking. I spoke to the home owners and they spoke highly of her.
situation 2: My good acquaintance counter offered a rate of 4 percent. He works for a smaller real estate company. While his track record is rather impressive, I don't know if he's as familiar with the area as the other real estate agent.
I am leaning towards keeping my current agent but am I crazy for sticking with a person who charges a higher rate?
I would go with the one you like and trust to help you work through whatever issues come up between now and closing. Maybe the difference in price is less important than the quality of the agent.
If you already signed a listing agreement your acquaintance is being unethical encouraging you to break your existing contract. This is a clear violation of the Realtor Code of Ethics and possibly/probably your state REC laws and guidelines also so I'm leery of that right off the bat.
Other than that, Boots is right. What did you sign? If you still want out you'll need to discuss with your current agent.
I second Brandon’s post. It’s unethical of that agent if you already have a signed listing agreement. I will also say that you get what you pay for. If your original agent is solid, she’ll probably be able to justify that 1% difference and net you more $ at closing.
If you already signed a listing agreement your acquaintance is being unethical encouraging you to break your existing contract. This is a clear violationof the Realtor Code of Ethics and possibly/probably your state REC laws and guidelines also so I'm leery of that right off the bat.
Other than that, Boots is right. What did you sign? If you still want out you'll need to discuss with your current agent.
Quote:
Originally Posted by OHdanIO
I second Brandon’s post. It’s unethical of that agent if you already have a signed listing agreement. I will also say that you get what you pay for. If your original agent is solid, she’ll probably be able to justify that 1% difference and net you more $ at closing.
It's also against the Realtor CoE for a Realtor (e.g. YOU) to recklessly conclude that other agents would be unethical without knowing all of the facts. Even if it was signed, the OP didn't say that the other agent knew what was signed.
The OP also did not say that the counter offer was done after something was signed or after the second agent knew something was signed.
It's very serious for a realtor to be throwing around ethics charges against other agents so I urge you to not do this lightly and in this case you may be very wrong and even if something was signed it might not be a violation of anything, depending on what the OP told the other agent.
How would you like it if another agent on the internet recklessly concluded or suggested you'd be behaving unethically when the facts aren't even clear over who said what and when?
Your potential ethics violation with that conclusion is far more clear than with the OP and this agent.
Don't hate me because I'm correct.
Last edited by just_because; 04-08-2018 at 05:43 AM..
Hi guys. I never sold a house before so I am unfamiliar with the process. I have a situation that I am thinking over:
situation 1: I already hired a real estate agent to sell my home but the house isn't even listed yet. It's still very early in the game. She is charging 5 percent and she works for a big-time real estate agent. I chose her because she sold a house, exactly like mine, which is located down the street, for a few thousand above asking. I spoke to the home owners and they spoke highly of her.
situation 2: My good acquaintance counter offered a rate of 4 percent. He works for a smaller real estate company. While his track record is rather impressive, I don't know if he's as familiar with the area as the other real estate agent.
I am leaning towards keeping my current agent but am I crazy for sticking with a person who charges a higher rate?
When you say you "hired," is it safe to assume you have signed a listing agreement with that agent?
When you say you "hired," is it safe to assume you have signed a listing agreement with that agent?
While you're at it shouldn't you also ask if it is exclusive which is, of course, another problem assumption with Brandon's conclusion that this second agent would be unethical if something was signed.
Really this stuff isn't rocket science. It's not that hard.
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