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Long Island Buyers - Why Are You Doing Your Agent's Job?

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Real Estate Agent with Douglas Elliman Real Estate in Babylon NY

long island buyer's agentLong Island NY Buyers - Why Are You Doing Your Agent's Job?

When you hire a Long Island NY agent to help you find a home, they are supposed to help you, not have you do their job.

I received a call from a very nice buyer on one of my listings. I asked who their agent is. Their agent is a family member. The buyer had said "I feel bad for my agent because they live 45 minutes away". And?

When you sign the Buyer Brokerage Agreement, your agent has to call my office or myself to make the appointment. You pay your agent to search for homes, make appointments, submit and negotiate offers, accompany you to the home inspection, troubleshoot any problems along the way and finally, go with you to the closing.

I explained these points to the buyer. I also won't put myself in a situation with a represented buyer. What if I say something without realizing it and is misconstrued for something else? And something tells me the agent is not a member of our MLS since it makes no sense as to why the buyer's agent hasn't called my office to make an appointment.

If a buyer has to to the job of a real estate agent, then why hire one?

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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Can you even imagine telling yoru client... go find a house and I'll just write up the offer.  (and I know it happens ALL the time).  People are such dorks.

May 19, 2012 07:04 AM
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Interesting blog...

If I as a buyers agent choose not to take the co-op fee, or there is no commission offered, I simply have the buyer include my commission as part of the buyers offer...that is how most exclusive buyers agents get paid, since the 90's when listing agents were offering buyers agents 0% as a co-op.

Eve in Orlando

May 19, 2012 08:41 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Tammy, I can't and would never do it.

Hi Eve, We do the same here but if the agent is a buyer's agent and not a member of the MLS, that buyer will have to write a check to his or her agent because most "buyer's agents" do not have buyers sign the BBA but will check off they are a buyer's agent on the NYS Agency Disclsoure.

We offer 0 to buyer's agents but compensate agents/brokers that represent the seller. Buyer Agency is becoming more recognized here little by little and it started in 1992. Talk about slow as snails. It's mainly due to agents won't ask a buyer to sign the BBA and they may not be sure how to explain compensation.

May 19, 2012 09:14 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Jackie, I've come across this a lot lately and it's really starting to get annoying.  Fortunately I've managed to find out in advance that the buyer has an agent...drives me nuts meeting at the first house only to find out (after the truth comes out) that they have an agent, but he/she was busy.

May 22, 2012 09:38 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Nick, Oh I hear ya! I always find out if they have an agent. Even if they say no, I can tell that they do. My instincts kick in.

May 25, 2012 09:33 PM
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

I have had customers make an appointment with one of my agents to view a property that is not the agents listing and then the customer  informs them they have an agent and will call their agent to put in the offer.  Talk about banging your head on the ground.

May 26, 2012 12:24 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Absolutely right, Jackie.  Why on earth have someone representing you when they really aren't representing you. They don't know the area, probably won't understand the comps, and may not be there for the myriad of things that will be needed when you go into escrow.  But they will collect their commission....

May 26, 2012 07:12 AM
Janice Dalston Kreymborg
Janice Dalston Kreymborg, Realtor (c) - Southampton, NY
Representing Buyers and Sellers in The Hamptons

Hi, Jackie.  Good post.  If an agent doesn't know an area, he/she is doing a disservice to the buyer and to the seller. 

In your reply to Tammy, you mentioned something that puzzles me - zero compensation to buyer brokers.  I've noticed the same practice with some others on LI, as well.  When I list a property, my duty to sellers is to sell their house as quickly as possible for the best price possible, so I make the offer attractive to all agents by offering equal compensation to any agent who brings the buyer.  Yes, a buyer broker can get the buyer to compensate him/her directly if a listing agent does not share, but the offer then states that it includes x% buyer broker compensation, so it all comes out at the closing table, anyway.  And what do listing agents who have not shared with buyer brokers do with the "extra" portion of the agreed-upon total compensation?

Jun 25, 2012 10:01 PM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Janice, Houses sell here whether or not there is compensation for Buyer's agents. The problem in my area is that most agents here don't go near BA but expect the seller to compensate them for trying to get the house for as little as possible for their buyer. Why should a seller pay them for representing the buyer? As a homeowner myself I wouldn't like it. My office also has market share and we do set trends. Little by little the area agents are starting to get it. And, it's not me setting 0 for BA it's my broker. He owns the listing, not me. Whenever one of us AA agents come in with a BBA, the outside agents do not like it. They say us AA agents are getting extra and do not understand how it works even when you show it to them in black and white. Agents get uncomfortable asking buyers to work with them exclusively but not in my office. What will happen is we do end up comensating them but not before addressing the issue of it not being there in the first place. Most agents in my area are so used to it that they do not check the listing for BA compensation. In the end those BA will get paid.

Like I said earlier, they are starting to get it. BA has been around since 1992 and still for the most part, is not welcomed here and my Broker is trying to change it. I'd say in about 3 to 5 years it will be mostly accpeted. Sorry for the novel :)

Jun 25, 2012 10:27 PM
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