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fiduciary responsibility: WRITING OFFERS IS "GEICO CAVEMAN STUFF....REAL ESTATE BS...." - 07/06/09 08:10 PM
In a recent post, I told about a buyer who "just" wants an agent to write an offer and get 75% of the agent's commission in my blog headlined "I've already done the work and found a house. I just want an agent to write the offer ...
Most of the responses and comments supported the idea of telling the buyer TTFN (ta ta for now) in so many words. Except this one particular commenter. I decided to post this separately and see what other people will say.
From Real Estate Radio USA: http://www.realestateradiousa.com/blog                 … (7 comments)

fiduciary responsibility: Not providing a preapproval letter may have cost the buyer's agent a $1M sale - 05/02/09 02:34 PM
TRUE AND RECENT STORY in East Bay, CA: There is an agent we will call Agent 1 who submitted an offer on a $1.2 property. The problem was, the agent didn't provide a preapproval letter or some form of proof of funds.
It isn't just the price that dictates who wins. The best and highest offer can mean how well the offer is prepared and presented, too.
The listing agent, who got burned once when this property was previously in escrow with a buyer who kept asking for extensions, was willing to give it another go.
This time, she isn't … (56 comments)

fiduciary responsibility: "I don't do 2%" sniffed the buyer's agent. "It may work for my buyer, but it won't work for me." - 01/12/09 07:29 PM
This is unreal. At a time when most agents are hungry for clients, buyers, especially, this huffy buyer's agent won't bother with a listing if the buyer's agency commission is "only" 2%? "I DON'T DO 2%"

HERE'S THE PROPERTY   For a visual tour, click here
 
This agent calls about my newest listing and asks: "Is this right? You're offering ONLY 2% commission to the buyer's agent?"
I responded that we cut the price drastically to attract the biggest pool of buyers, and to make it more affordable than where it was originally priced. Yes, the commission is also 2%. The seller is … (34 comments)

fiduciary responsibility: Fiduciary responsibility is to the seller of the short sale....not to the lender - 04/22/08 08:34 PM
We are having such a lively discussion at our office, and there were very strong opinions expressed.
One of the scenarios: there is an accepted offer on your short sale listing, but the lender hasn't accepted yet. Then more offers come in. You can take one or two in back up position, and you can/may present these other offers to the lender.
But do/should you?
We consulted a short sale specialist who told us that your fiduciary responsibility as the listing agent is to your seller. If you have a solid accepted offer, and the goal is to complete the transaction as quickly as possible and still meet … (8 comments)

fiduciary responsibility: Agent advised seller to loan buyer money as second...then the bank foreclosed 10 months later! - 03/05/08 12:30 AM
While browsing through listings of foreclosures in a certain area, I discovered that a house my client sold over a year ago, using another agent, was foreclosed. When I mentioned this to my client, he was surprised. It turns out that at the advice of his agent at that time, he agreed to loan $20,000 to the buyer of his home so that they can close the deal in December 2006. It was a $1.1M house. So it was rather surprising that he would need to lend money if the buyer can afford a house at that price range. Red flags should have been … (5 comments)

 
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Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA

Oakland, CA

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Alain Pinel

Address: 6211 La Salle Ave, Oakland, CA, 94611

Cell Phone: (510) 205-2992

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