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Seller Agency is a Fraud...(But Only Sometimes)

By
Real Estate Agent with Dockside Realty VA 0225142975

Seller agency is a fraud...(but only sometimes). Having just read the post, Buyer Agency is a Fraud...(Sometimes) by Maya Paveza, I must agree that this has happened to me also.

 

Now the other side of that coin is the agent "posing" as the seller's agent. Perhaps you have met a few of them throughout your real estate career.

 

Here are some of the comments I have heard as a buyer's agent:

  • Bring an offer, my client is getting desperate.

  • The listing is about to expire and I need something out it.

  • The sellers have a contract on another place with a kick/out so they need to get this sold now.

  • The house is in terrible shape but once we get the seller's to sign off on an offer I can then talk them into getting all the repairs done.

  • We have it listed for $XXX,XXX but I'm telling you the seller will take $ZZZ,ZZZ.

  • My seller has lost his job and will not be able to make the payments much longer.

  • My clients' daughter's husband left her and they want to move closer to help take care of the grandchildren.
      
  • They'll really take a lot less than the asking price.
  • Hey, there's always a lot of wiggle room.  Just have your folks make an offer.

  • I can't help it if my sellers are unreasonable about the list price but I'm sure if you bring a contract they'll see the light.

We all know that if an owner authorizes their listing agent to share this information with other agents it is absolutely OK to do that. However, my concern is with those that have never had this conversation with their clients.

There are agents, whether representing the seller or the buyer, that only see $$$$$ signs. Unfortunately, I have seen it on both sides.  


I certainly realize that this is a business and that we earn our living by helping folks buy and sell real estate.

 

To me real estate is a SALES and a SERVICE profession. The service we provide is as important as the ultimate sale that hopefully ensues.

 

The great thing is that, by far, most of the agents I have had interactions with since I've been in real estate (1986) have done a very good job of representing and protecting their clients' interests.

 

Understanding that protecting your client's interest protects yours as well will make you successful and trusted as a REALTOR.

 

Posted by

 ©Copyright Kate Elim 2015

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Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Jennifer...You are so right.  Thankfully most do protect their clients.  

Yes, if our clients ask us to share some information we should but only then as you mentioned.

Kate

Nov 18, 2009 05:42 AM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Paul...I have missed you.  Either you are not writing as much or because I'm not on as much (maybe both).

Yes, Mary was right.  Why do agents think their responsibilities to their clients end when it is a third party like a bank.  I'll never know.  The ripple effect of every transaction determines the market and our economy.  This is something many may not have realized before but certainly should understand by now.

Thanks for your comment explaining the many ways this can cause damage to the housing market and beyond.

Kate

Nov 18, 2009 05:46 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Kate  Over the past 33 years I have heard some real eye openers

Nov 18, 2009 10:04 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Kate, can't you just imagine a seller telling the agent to let the buyers know they are desperate with the wolf at the door?  Great post.

Nov 19, 2009 11:45 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I t simply boils down to the fact there are some good agents that work with buyers or with sellers... then there are the others...  fortunately, they are the minority.

Nov 24, 2009 01:47 PM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Kate these are great.  What we are seeing here is "Buyer walked, Need offer now!", on all of our short sales.

Nov 25, 2009 11:07 AM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Karen...I've heard plenty too and yet it always surprises me.

Kate

Nov 25, 2009 12:02 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Pat....Exactly and yet they think they are doing a good job representing the seller.

Kate

Nov 25, 2009 12:07 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Joan...Yes, and that is why we can still have pride in our industry.  For the most part we have professionals doing the best they can for their clients.

Kate

Nov 25, 2009 12:09 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Jane...That's saying "hurry, hurry, the sellers are ready to give their home away".

Kate

Nov 25, 2009 12:15 PM
Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

Short cuts. I hope in most markets agent who take short cuts are in the minority on both sides  of  transactions.

She took down her post after making it members only and also a very similar post on a WordPress blog (talking to consumers?) about the transaction and her beliefs ...

I've been licensed since 1986 too.  Lots of changes over the years.

 

Nov 27, 2009 03:40 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Kate!  I constantly amazed that these types of agents, posing as seller's agents, are still alive and kicking in this market.  I think they are more visible now because most that remain in the business are above board and do the right thing by their sellers!

Have a great week...

Nov 29, 2009 12:04 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Maureen...I didn't make this Members Only because it is important for the public to know that there are a few agents that do not do what's best for their clients.  It is even more important for them to know that most of us really do represent them fully.  It is up to them to make sure they make the right choice.

Kate 

Nov 29, 2009 12:32 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Debe...I believe that the vast majority do what's right by their clients.  If I didn't, I couldn't remain in this business.  We sure have many of "right stuff" here on Active Rain.

Kate

Nov 29, 2009 12:43 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Kate, You do wonder how this agents stay in business?  It's a shame that some agents are so short sighted, not trying to do the best for their clients.  All the best, Michelle

Nov 30, 2009 11:15 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Kate, they are representing a client and that client is the agent's checkbook!

Nov 30, 2009 12:42 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Michelle...Yes, I've had that thought more than once.  Evidently some sellers do not know what is going on behind their back.  Good thing we outnumber those agents.

Kate

Dec 01, 2009 11:25 AM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Pat...Exactly!

Kate

Dec 01, 2009 11:26 AM
Susan Mangigian
RE/MAX Preferred - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

I cringe when I hear agents say these sorts of things.  I have a seller who continually asks me why he isn't at least getting an offer.  Now, I've asked him, do you want me to tell people that you'd like an offer?  Any offer?  Well, no, I don't want a really low offer.  Well, if I tell them you'd like to see an offer, they will assume that is what I mean. 

Dec 02, 2009 08:11 AM
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Kate, I've been told things from the other agent that they should not have said.  "Loose lips, sink ships" :-)

Dec 02, 2009 01:06 PM