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I DON'T NEED AN AGENT, I JUST WANT TO LOOK AT YOUR LISTING

By Stella Barbour

Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634 VA/ 643686 MD

April 08, 2011 02:02 AM

I get a phone call yesterday and it was someone interested in viewing my listing. I asked him if he had an agent, he said "No, and I don't want one, because I can get a better deal if I don't have an agent".

WOW!!! How wrong was he. It is so important for buyers to be represented by a Professional Real Estate Agent during one of the largest purchases of their lives.

I encouraged him to hire an agent because of the things that can happen when he is not protected and I told him most likely the Listing agent is not going to cut down their commission because he is representing both sides since there is probably a listing agreement that specifies the commission amount and the only one that could lose anything is HIM. Of course he did not say much after that, so we will see if I end up with a potential buyer or someone else may gain because of my conversation with him or he will possibly ends up getting a bad deal and taken advantage of.

I will check on him a few days as a follow up.

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Karen Hurst

RICOASTALLIVING.COM - Warwick, RI

Rhode Island Waterfront!

Stella

It amazes me how many people still believe this! Guess we are not getting the word out enough!

Apr 08, 2011 03:08 AM

Stella Barbour

NoVa Brokers LLC - Vienna, VA

Principal Broker, Serving Virginia and Maryland

Karen - I know what you mean. Thanks for stopping by.

Apr 08, 2011 03:48 AM

Jon Cagle

Senior Loan Officer at US Bank Home Mortgage - Eugene, OR

Lane County Oregon - Direct FHA, VA, USDA Lender

Stella, as a lender, I always want my clients to work with a Realtor. I ask them if they were going to court for (say the price of the house) would you hire a professional to represent you? They almost always say YES!!!

Apr 08, 2011 04:53 AM

Lloyd Binen

Certified Realty Services - Saratoga, CA

Silicon Valley Realtor since 1976; 408-373-4411

First, let me apologize. For what? Never acknowledging your comment to my post in 2007 (http://activerain.com/blogsview/248086/as-is-sales). I'm sure it's long forgotten, but I just reviewed my ancient posts and discovered my faux pas. At that time I didn't understand AR (and still don't completely) or comments and didn't even know comments existed. Duh. (I'm one of those 'guys' that reads the instruction AFTER I goof up. You may know the type.)

Regarding your post, we've had that problem out here also. As long as the listings agent cave in and reduce their brokerage fee, or give a rebate, buyers will continue feeling they don't need their own agent. And yes, I think it's a mistake also.

Apr 08, 2011 07:22 AM

Jon - You are right. Thanks for posting.

Apr 08, 2011 08:37 AM

Lloyd - I know what you mean but they are just being taken advantage of. thanks for stopping by.

Apr 08, 2011 08:39 AM

CA COASTAL ESTATES Lauren Selinsky Perez CRS

California Coastal Estates - Aliso Viejo, CA

"Your Real Estate Broker" #oclauren

After they make the mistake of not using their own Realtor(R). It's always, "I should've (yeah! would've and could've)

Apr 08, 2011 11:06 PM

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400

The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY

Long Island Condo and Home Specialists

Stella, Here on Long Island buyers are still not comfortable signing anything. Although we are Certified Buyers Reps, getting the word out that it's in their best interest to be represented is not an easy task!

Apr 09, 2011 12:31 AM

Lauren - I have heard that before. Thanks for posting.

Apr 09, 2011 02:23 AM

Larry & Sheila - I know what you mean. They don't understand that we are really good at protecting them from all kinds of mistakes. Thanks for posting.

Apr 09, 2011 02:24 AM

Joshua Zargari

MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY

MJ Decorators Workshop

Good morning Stella.

Creating trust is very important in this business...

Have a great day.

Apr 09, 2011 04:18 AM

Good Morning to you too Joshua. You are right about trust. It is very important.

Apr 09, 2011 04:22 AM

Sandy Shores FL Realtor®, Melbourne Real Estate

M & M Realty of Brevard Inc. - Melbourne, FL

Brevard County Real Estate, Florida's Space Coast

Hi Stella, Some buyers have that sentiment. I hope it all works out for the best for him.

Apr 12, 2011 04:06 AM

Thanks Sandy. I hope it works out for him too.

Apr 12, 2011 04:10 AM

Maureen McCabe

HER Realtors - Columbus, OH

Columbus Ohio Real Estate

In one of our continuing education classes we have attorneys update us on legal issues. Last class they said having both sides of the transaction is the biggest risk of a lawsuit. I am not sure if in the last class I took they made the distinction between those where the listing agent had both sides of the transaction and was a disclosed dual agent (legal here) and those where the listing agent worked with the buyer as a customer, buyer was unrepresented. I want to know if that reduces the chance of a lawsuit for a listing agent.

I hear less of buyers wanting to go directly to the listing agent but then again I hear a lot less from buyers in the last few years.

Apr 12, 2011 10:24 PM

It can be depending on the situaton. I work for few law firms on a contractual basis and very familiar with the law and have also seen quite a few lawsuits with the unrepresented byer and/or dual also. The attorneys there are right. There is a lot of risk and few benefits. The risks outweight the benefits. Lawsuits arise frequently when the deals are not done with the best intentions.

Apr 13, 2011 02:07 AM

I DON'T NEED AN AGENT, I JUST WANT TO LOOK AT YOUR LISTING

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