compensation: Buyers Stand to Lose the Most from Recent Commission Lawsuit Proposals
- 03/18/24 08:33 PM
Recent developments regarding real estate brokerage fees harm one party in the real estate transaction far more than the other... The buyer. While those applauding the proposed settlement terms talk about how much of a win this is for consumers, if nothing else changes, the proposed agreement is about as anti-consumer as it can get. Under the imperfect compensation model of the past, buyers were able to have their representation costs included in their purchase transaction. Arguments aside, this is the main reason this model has stood for so long. If no other changes are made in the industry, the proposed settlement terms … (4 comments)
compensation: More on Legal Documents, Representation and Compensation
- 10/01/12 07:44 AM
Our company NEVER lists homes or represents sellers. We only work for buyers and stay 100% loyal to the buyer throughout the transaction. Some things in this industry bother me. One thing that bothers me A LOT, is to hear that a consumer has been given a legal document that says one thing in writing, but the person with the training and the license to present that document for a legally binding signature says something completely different when explaining the document to the consumer. (Read the first half of this blog entry for some additional background as to why I'm using … (26 comments)
This post started as a response to comments in another blogger's comment thread on the topic of how messed up the real estate industry is in the areas of representation and how compensation can tempt agents to do things that are not in their client's best interest. The discussion started over whether or not buyers or sellers were getting true representation and loyalty from their agents, or if the agents were only looking out for themselves and/or the companies they work for. There was discussion over whether it was ever right to double end transactions (get paid twice as … (8 comments)
My commitment to you: 1. I will be your Exclusive Buyer Agent (EBA). Because our company does not take listings or ever take on sellers as clients, we will never ask you to agree to less than 100% representation. 2. We will not "switch teams" or change allegiance mid-transaction. You will start with an EBA and you will end with an EBA. 3. I will ALWAYS take YOUR side in … (2 comments)
compensation: Are Home Buyers Being Tricked Into Agency Relationships?
- 06/03/08 05:14 AM
CASE: Buyer does not have an agent. Buyer sees a home for sale on the internet. Buyer calls Listing Agent to see the home. Listing Agent sends an "Associate" to show the home to the Buyer. Associate asks Buyer if they have an agent. Buyer says "No." Associate shows Buyer the home. Buyer says they may be interested but still need to find an agent to represent their best interests. Associate says, "If you want to buy this home, I will be the one to write up the offer because I'm the one who will get paid. You are free to get … (2 comments)
Recent developments regarding real estate brokerage fees harm one party in the real estate transaction far more than the other... The buyer.
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