Minimum Service Requirements, Discount Real Estate Agents
The Million dollar question is: Is Minimum Service really sufficient? I am a firm believer of, "You get what you paid for".... In a seller's market such as Frisco TX, the problem is not getting the contract, the question is (1) Did you get the top dollar for your property? (2) Do you know how to keep your contract in tact from contract to close?
If your home is listed on the MLS there are several requirements of your Broker, regardless how much you are paying him. It doesn't atter if it is a flat fee Brokerage or not.
The Real Estate License Act contains very important provisions on both Listing Agents & Buyers Agents. Here are a few to remember. For a full list click on the link below....
1. An agent is required to inform his client if he receives material information related to the transaction.
2. An agent is requried to answer his client's questions and present any offer to or from his client.
3. A sellers agent is PROHIBITED from instructing a buyers agent to negotiate directly with the represented seller.
4. A buyer's agent is also prohibited from instructing a seller's agent to negotiate directly with the represented buyer.
In some cases the listing agent may ask the buyers agent to "present the offer" for the seller, but in no time, however, may the agent cross the boundary into negotiations.
Number three tends to be the most violated in my experience. If you want to save money, fine, but do it right!
Learn more about The Real Estate License Act.
The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.
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