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Buyer's agent sounds off

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Real Estate Agent

Buyer's agent sounds off (edit/delete)

Hello Everyone. 

Ok everyone listen up.   BUYER AGENCY is catching on all around the couintry.   We are tired of getting burnt by buyers who we give our time to and they go and buy with someone else. ( my nephew just got his license and we're gonna  give him our business to get him started after you just spent a month and a half shopping this buyer.)

Well here is my beef.  Aa a buyer's agent here in the great state of Pennsylvania we are allowed to charge our buyers a fee.   Buyers should be charged a fee.  My real estate team charges every buyers and they agree to pay our fees.   We don;t parctice subagency because of the legality of it

Time and time agein i have had the mortgage companies try to dictatte my fee to my buyer.  I have even had  a mortgage company say the I am only suppose to get paid by the seller.  I have also lost clients because morgage companies have said that I am robbing my clients.   This is obviously not the case. 

The mortgage company, title company, seller's agent, appraiser, home inspector and attorney are all getting paid because the buyer's agent had the diligence to get the buyer to make a choice and write up the contract.  But when the buyer's agent want to charge the buyer it is a problem.  What is up with this.

 

 

 
Jim Polhemus
Long and Foster Real Estate, Inc. - Virginia Beach, VA
Virginia Beach Real Estate

I'm not quite certain why you need to charge your buyer a fee. Do the listing agents/brokers not offer a co op to buyers' agents in your area? It's only sub agency if you're trying to represent another broker's seller. We don't allow that either, but we certainly will pay a buyers broker whatever the agreed upon co op fee is. Maybe I'm missing something....

Jan 08, 2008 09:36 AM
Jeff Johnson
Tennessee - Dyersburg, TN

I think the buyer should pay a fee if he does not buy from you. Your time and hard work  and gas is worth something. If the customer buys from another agent after all  your hard work , you should be able to add up your time and gas and charge that person.

If he buys from you the buyer should not be charged.

Jan 08, 2008 09:55 AM
Jim Polhemus
Long and Foster Real Estate, Inc. - Virginia Beach, VA
Virginia Beach Real Estate
That's why you have buyers agreements. They should plainly state that if a signed buyer purchases ahome you were the procurring cuase on with another agent, they still owe you a commission.
Jan 08, 2008 10:38 AM