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This is like fantasy land. Somehow the listing agent will only try and convince the seller to take your offer and not try and get the buyer to raise their offer. You have somehow convinced yourself the listing agent has magically converted to working solely on your behalf and not the seller.
No, I am convinced that in many cases, the listing agent is working solely on his or her own behalf. Once you start operating under that philosophy, it changes the nature of the average real estate transaction.
When the agents act in their own best interest (as is often the case), the buyer's agent basically acts in the interests of the listing agent. They try to convince the buyers to purchase property today. "Are you willing to make an offer on this house today?" Their job is to deliver buyers to the property. The listing agent works his clients to get them to accept the offer. There are hundreds of "scripts" for doing this. Quick Sales Scripts | Realtor Magazine
And frankly, the way Realtors argue about their profession on internet fora, you'd think there is a "scripts" website they use to debate. ("Would you defend yourself in court?" "Would you perform your own open heart surgery?")
And frankly, the way Realtors argue about their profession on internet fora, you'd think there is a "scripts" website they use to debate. ("Would you defend yourself in court?" "Would you perform your own open heart surgery?")
The scripts don't bother me. (Other than the fact that it basically proves that many agents are little more than actors.) What bothers me is the agents who act in their best interest instead of that of their client.
Naturally, you choose to ignore THAT, and zero in on scripts.
The scripts don't bother me. (Other than the fact that it basically proves that many agents are little more than actors.) What bothers me is the agents who act in their best interest instead of that of their client.
Naturally, you choose to ignore THAT, and zero in on scripts.
You dwelt on scripts. Mentioned them twice, as though they matter. Now you say they are of little or no consequence.
I accept that fact.
Now, having whittled out some of the meaningless fluff from your posts, and narrowing the focus to something interesting, it is very easy to agree that some agents act in their own interest and all too often. It bothers me too. It bothers me more than you can imagine.
You dwelt on scripts. Mentioned them twice, as though they matter. Now you say they are of little or no consequence.
I accept that fact.
Now, having whittled out some of the meaningless fluff from your posts, and narrowing the focus to something interesting, it is very easy to agree that some agents act in their own interest and all too often. It bothers me too. It bothers me more than you can imagine.
I STARTED that message with the most important, salient point: "I am convinced that in many cases, the listing agent is working solely on his or her own behalf. Once you start operating under that philosophy, it changes the nature of the average real estate transaction."
Then, I described how real estate transactions ACTUALLY work in such a scenario. And then I used Realtors' reliance on scripts to show that they're basically playing the role of a "trusted advisor."
Meaningless fluff indeed. Realtors as a group are GREAT at networking and horrible at debate.
I STARTED that message with the most important, salient point: "I am convinced that in many cases, the listing agent is working solely on his or her own behalf. Once you start operating under that philosophy, it changes the nature of the average real estate transaction."
Then, I described how real estate transactions ACTUALLY work in such a scenario. And then I used Realtors' reliance on scripts to show that they're basically playing the role of a "trusted advisor."
Meaningless fluff indeed. Realtors as a group are GREAT at networking and horrible at debate.
I am terrible at networking, but have pwned you since you started spouting off here.
Time and again I speak with agents that did sell people homes that they couldn't afford. And it was apparent from the very beginning that a foreclosure was inevitable. There are always signs that someone can't afford something and there's no denying it. People that drive 15 year old cars with 3 bald tires and a minispare might be subject to a closer look. People with income so low that special financing was required might be subject to a closer look (You guys can do this). People with poor credit scores might be subject to a closer look.
And over and over again the RE agents say it wasn't their fault nor was it their responsibility. I have bad news for those RE agents. They are every bit as guilty as the buyers, appraisers, underwriters and mortgage companies are of perpetrating the disaster. In the chain of people who were involved in the sale of a home to an unqualified buyer, any one of those people could have stopped the process at any time. And yet, in millions of cases, no one did.
John should have gone with his first instinct and said NO. I've seen a couple of RE agents in this thread that said we don't know why John was hesitant. The reason John was hesitant is clear to everybody, including you lying RE agents.
I've had people walk into my office wearing t-shirts, sandals, and ripped denim shorts who then went on to buy multi-million dollar homes for CASH. You can't judge a book by it's cover.
Quote:
Originally Posted by ScoopLV
What bothers me is the agents who act in their best interest instead of that of their client.
Those guys bother EVERYONE. My experience is that they represent a much smaller percentage of the population of real estate agents than you seem to think.
Quote:
Originally Posted by ScoopLV
I STARTED that message with the most important, salient point: "I am convinced that in many cases, the listing agent is working solely on his or her own behalf. Once you start operating under that philosophy, it changes the nature of the average real estate transaction."
Then, I described how real estate transactions ACTUALLY work in such a scenario. And then I used Realtors' reliance on scripts to show that they're basically playing the role of a "trusted advisor."
This conversation is getting boring. Let's start a new debate operating under an equally out of touch with reality assumption. How about "I am convinced that if I were buying a home on Mars . . . " On second thought, let's not waste any more server space with silly drivel.
The only legitimate time an agent works for the buyer is when the buyer goes directly to the listing agent. At that point, the realtor potentially earns both the buying and selling commission and has a vested interest working hard for the buyer.
This is not true. The listing agent BY LAW must represent the best interests of the SELLER.
I'm working under the assumption that the listing agent stands to earn a portion of both the buying (3%) and the selling (3%, if negotiated that high) commission. This would be sufficiently motivating for the listing agent to work hard to secure that deal (a deal in which they earn both sides of the commission). Heck, if the deal is close then listing agent might even have the brokerage kick in a few bucks to close the deal? Why not? It is better to earn 4.5% instead of just 3%. As a result, it behooves the buyer to deal directly with the listing agent, particularly in a hot market, because it could mean the difference in securing or loosing a home.
This financial incentive will inspire the dual agent to work hard for the buyer who came directly to the listing agent because it is in the listing agent's best interests.
Right. Keep telling yourself this.
The listing agent is required by law to be honest - but not to be FORTHCOMING (there's a big difference there).
There's a reason that clients have to sign forms stating that they understand brokerage representation and all that it can mean in their situation.
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