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Doing Both Sides of the Deal for Half the Commission

Does anyone out there ever feel that there are so many "fellow real estate professionals" who don't seem to do much work at all during a transaction? That the only way you will get to have a smooth and comfortable transaction for your Seller or Buyer is if you pick up the slack and do some of the work for the other Agent's side?

I've found myself chasing down entry codes for appraisers and finding out utility turn on information for my Buyers when the Seller's Agent customarily does that here in Colorado. I've found myself telling the Buyer's Agent on the other side of the listing what "Specific Performance" vs "Liquidated Damages" means and that they ought not to check anything pertaining to a Transfer Tax or a Sales Tax on our Colorado Contract to Buy and Sell Real Estate. Today, an agent called me to ask me how to get on to the Dept. of Regulatory Agencies Site and find a blank Earnest Money Promissory Note and how to fill it out!

I don't mind helping the other side once in a while, but now a days it seems more and more that I have to do much work on the other side in order to ensure that my Buyer or Seller has a smooth transaction. Anyone else experiencing this?

THIS IS WHAT MY DESK LOOKS LIKE SOMETIMES!!! I TRY TO CLEAN IT ONCE A WEEK!

Posted by Lania DeMers, Broker Rocky Mountain Realty Co. on 07/05/2007 11:48 PM

Comments (12)

responsibility, buyer, seller, agent, broker, help, contract, assist, coordinate, duty, professional courtesy

12 Comments on Doing Both Sides of the Deal for Half the Commission

JUL

2007

Lania,

I myself have done much work for the other side. It seems like many agents do not have any urgency in the transaction. Sometimes we have to do extra just to get the transaction through. Sometimes if we do not pick up the slack, the deal may fall through.

JUL

2007

You're right, Chuck! That's just the word I was searching for: "urgency". Time is of the essence...what do they think that means? I work hard to get my deals and keep my clients and I feel every deal deserves urgent attention. That deal is usually the most important thing going on in the life of my client and I take that very seriously.

I also have a theory, (the lenders I work with often love this one), that the longer time it takes from contract until close, the more likely you are to have "glitches" and "stalls". I often shoot for 10-14 day closes on my deals.

Definately seeing it here! I've had agents not know how to get copies of surveys on properties they have listed and I'm calling and doing the legwork and buyers agents that don't know how to pull up the tax records. Had a buyers agent from another area email the other day and ask all kinds of questions about the property that are covered on the sellers disclosure form and our cad website.

Chris: I know what you mean...sometimes it's just plain laziness. Can't look at the MLS listing to see what the correct contact number is, etc...

You would not believe what one finds them selves having to do to get the deal closed here in So. Cal. I am constantly amazed at how little some agents actually do and that they manage to remain in the business.

Hi Darrel...sounds like Colorado Springs! You know...that's where we get the bad wrap. People that do nothing to earn thier money don't represent those of us who go out of our way!

I agree, we are seeing it more and more. It seems as though many agents get the home into escrow pass the file to the TC and off to the next client they go. Hence leaving the other agent and the TC to figure it all out.

I have had deals where it has literally taken me days to get the agent to return a call to track down paperwork from their side to finish the file.

I recently had a final walk through with some clients and the sellers and listing agent were supposed to be there to go over some things(trash pick-up, streetsweep, how to use timers etc.) Neither the agent nor sellers showed up. When I called to see where everyone was the agent said that they simply could not make it and as we were leaving the sellers came home and said that they did not even know about the appointment.

But yet if you cannot close on time it seems to always be the buyers agents fault.

Hi Joe: That's a REAL bummer. At least we have a little more control because we're not an escrow state. That situation made they Seller's see that they weren't getting good service from their Agent, though. Good timing!

My desk looks like that now. I really should stop and clean it...maybe tomorrow.

We find ourselves having to do this all the time. And when the other agent drops the ball, you either pick it up yourself or the deal falls apart. Too bad the consumer seldom realizes what's going on in these situations.

JUL

2007

Enjoyed your post - we see a lot of that too - glad to see you put a spotlight on it. :-)

AUG

2007

I just had to chime in here.

As an investor we had the same experience as some of you with the buyer's agent. She didn't understand anything and did nothing! We had to take care of everything for her buyer, finally, to the point that he contacted us directly with questions. She was still going to get her 3%commission! The deal fell through and we went through a local realtor to sell. Now we have to pay the full commission, but at least we don't have to deal with the buyer's agent!

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