agency: Who are you contracting with?
- 04/22/24 08:15 AM
You have decided to buy or sell a house, so after some research, talking with friends and family you call a few agents to discuss working with them. But, stop. Before you go any further who are you actually going to be contracting with? You may imagine it is the agent with whom you are talking. But in Pennsylvania and maybe elsewhere that is NOT the case. Those forms that are presented to you tell a different story. Firstly, before discussing any real estate related conversation with you, those agents should tell you about the "Consumer NOTICE". Yes, I capitalized that as it … (15 comments)
agency: Do you want to work with me?
- 11/19/19 07:03 AM
Most of the time as an agent you get on with your client, then there are times when you can tolerate the client and get the deal done, but occasionally there is the client who you should not be working with for your own sanity. Do you want to work with me? With the internet, if we are honest, many of us agents end up drifting into working with buyers who we don't really know. They find me when searching for homes in Tredyffrin Easttown School district for example. Often they have been searching on line and found a home they want to see and … (12 comments)
agency: Does the USA even need an MLS today, is it time for change?
- 12/04/14 02:47 AM
Does the USA even need an MLS? And why the heck is the seller paying my agent? Have you ever been asked by a buyer why the seller is paying you and where your loyalties may lie as a result? It does seem odd that the seller should be paying for the buyers agent. Do you owe the seller any loyalty because they are paying you? Whilst it does allow a buyers' agent to present his services as FREE, is that truly correct. We have all heard the argument that in fact it is the buyer who pays everyone, because without a … (3 comments)
agency: Don't say another word!
- 09/04/14 03:23 AM
Don't say another word! I attended a very good seminar on dual agency this morning, Practical Advice for Realtors given by William J. Weber Jr. Esq., and Gregory S Liero, both of Connor, Weber and Oberlies in Paoli, PA. In Pennsylvania in 1998 our legislature passed real estate agency laws that affect how Philadelphia Masin Line Realtors interact with the public. Before 1998 a Main Line home buyer might believe they were being represented when in fact all agents involved were representing the seller. This 1998 legislation introduced buyer agency, and at the same time allowed dual and designated agency as … (8 comments)
I was reading a post by Margaret Rome about confidentiality and it got me thinking about that. Firstly in Pennsylvania until you either sign a buyer agency contract or a listing contract the agent does not have to hold the information you tell them in confidence. You are unrepresented, and anything you share can be used against you in negotiations. Many buyers visit open houses and share information with the agent sitting the open house who represents the seller without thinking. Always be cautious in real estate what you share and with whom. In fact whenever … (9 comments)
agency: Should you be leaving feedback?
- 10/09/11 03:39 AM
When representing a buyer should you be leaving feedback? It is all the rage now with the automated showing systems to be asked for feedback over and over again if you don't respond, but should you be responding? How many buyer agents sit down with their clients and asks them if they the buyer wish their agent to leave feedback on the properties the agent shows them. Do you get them to sign an authorization to leave feedback on their behalf? Do you ask your buyer after each home, what feedback would you like me to leave on this property? I … (5 comments)
agency: I want to get paid by my client!!!
- 09/26/11 03:32 AM
I have noticed a trend recently whilst reading different posts that there is a frustration in the industry with agency and if we practice true agency will remove the problems of getting paid by our clients. I am tired of being paid by the opposition and having my client wondering who I am truly working for and second guessing any advice I give when representing buyers. I am tired of my buyer clients wondering what I bring to the table because so many agents have told them that their services are FREE. I am sorry I am not independently wealthy, although … (3 comments)
agency: Do you really want a mongrel real estate agent?
- 08/23/11 03:23 AM
I have shown photos of these canna lillies before, but looking at the plant today I noticed how one flower is totally red and the rest are yellow. As Trudy said, they cut and splice bulbs together to make different hybrids or a mongrel flower, mongrel is a term used originally to describe two different breeds of dogs that have been mixed. Made me think of all those real estate agents who have become mongrels, one part Realtor and and seven parts working another job to pay the bills. Can they really keep up with all the changes to the … (2 comments)
agency: Do you care who the broker is?
- 08/04/11 02:37 AM
Under Pennsylvania real estate commission rules all real estate salespeople must work under a broker so they can be supervised and trained. But do you care who the broker is? Who do you employ, the broker or the agent? When I speak with most of my clients they all say Nick I am employing you, not your broker, however, the contract they sign says exactly the opposite. I have even had one client alter the contract, he was an attorney, to state that the listing would stay with me if I moved or the broker sold the company. But do you … (2 comments)
agency: What does it matter who or what your agent is?
- 07/28/11 05:27 AM
Do you ever take notice of who or what you real estate agent actually is, go on, I'll wait take a look at their business card again, how do they describe them self? Salesperson - Realtor - Associate Broker - Broker - Consultant - Real Estate Agent Are they part time or full time? Did you ask? How many transactions did they do last year? Do you think it is important to know a little about your agent before you sign a contract with them? Salesperson - someone who has 60 hours of education and passed the state and national real estate exam … (0 comments)
agency: Our job is to negotiate - so why do so many agents avoid it?
- 07/21/11 11:57 PM
Part of our job as real estate agents is to negotiate, so why do so many agents avoid it? We negotiate at first for ourselves when we first meet with a consumer, when we decide if this is someone I want to work with as a customer. We explain the legal obligations our state requires about the different agency representations and what they mean to the consumer and why they might want to work with us, how we will represent them and what we will charge. We negotiate explaining our value either as a listing agent or as a buyers agent, laying out … (6 comments)
agency: Buyer agency and why it is a sham!
- 06/21/11 04:15 AM
Buyer agency is a sham! Until your buyer client pays you directly it is a sham. Why would any intelligent person want to be in negotiations and have their negotiator be paid by the opposition. Would you want your quarterback or pitcher paid by the other team? Of course not, but everyday consumers are allowing themselves to be represented by someone who is paid by the other side. Would it make a difference if the buyer paid the agent directly. Of course, for one the agent is going to have to make sure they evaluate what services they are offering and why … (9 comments)
agency: How desperate are you?
- 06/14/11 05:28 AM
How desperate are you? Would you put your license at risk to get a deal to closing? Who are you representing, the client or yourself in these deals? Unfortunately to many people lose sight of who they work for, the client and see only their own pocket as being the reason for wanting to be a realtor. I serve on our local realtor board Professional Standards as co-chair of the Grievance Committee. As such I get to hear complaints from other agents and members of the public about our colleagues, of course at this stage names are changed to maintain confidentiality. … (2 comments)
agency: Why would you want to be unrepresented?
- 04/09/11 08:59 AM
I got a call this week from a buyer who wanted to see a property of which she thought I was the listing agent. I was not and when I explained this to her she wanted the phone number of the listing agent. I asked her if she was looking at other homes and that I could set up all the appointments for her and represent her when she bought a home. She politely declined saying she wanted to deal with the listing agents because she wanted to negotiate. I informed her that I could help her with negotiations and that as … (5 comments)
agency: Where does the balance lie in the new PAR Agreement of Sale?
- 02/24/10 06:03 AM
How will the new Pennsylvania Agreement of Sale be viewed by agents, buyers and sellers. Where does the balance lie between buyer and seller? There have been some major changes and the agreement looks very different. One agent asked me while we were going over these changes in a class "Is this Agreement more in favor of the buyer?" My response was to ask how she viewed the current agreement. Many of those present agreed that the current, the 2005 version is very favorable to the buyer and leaves the seller without many teeth. I think going over this new agreement that several … (1 comments)
You have decided to buy or sell a house, so after some research, talking with friends and family you call a few agents to discuss working with them.
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