Any thoughts on limited agency ?

By
Real Estate Agent with Chase Realty LLC

    Just starting a new path with limited agency in Virginia. The transaction involves a buyer and a seller who are both attorney's and they just want someone to facilitate the writing of a contractual agreement. The fee was agreed to prior to the writing of the contract.

   Does anyone have any thoughts?

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Ambassador
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Bill.  I have worked with a few attorneys too.  They seem to enjoy picking the contract apart.  It really stresses me out. I guess it's part of their DNA :)  Good luck.

Nov 11, 2014 09:36 PM #1
Rainer
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Bill Lauler
Chase Realty LLC - McLean, VA
Associate Broker,CIPS,CRB,SRES,GRI

Hi John, Thanks for the comment.I believe they are in the process of looking over everything in the contract now. It is a Virginia contract so if they change the boiler plate writing the contract is null and void and I still get paid.

Nov 11, 2014 09:41 PM #2
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Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Sounds kind of odd to me.  Seems like basic attorney 101 is that they could write up a real estate contract.  The harder part is marketing the property and getting it closed.  We do a lot of ala carte and limited services in Florida and you are welcome to look at our site and price list www.sdrhouses.com .

Nov 12, 2014 10:04 PM #3
Rainer
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Bill Lauler
Chase Realty LLC - McLean, VA
Associate Broker,CIPS,CRB,SRES,GRI

Thanks Rob , I will do that.

Nov 13, 2014 05:50 AM #4
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Not worth the risk.

The attorneys may have their view of the value of the agent, which clearly isn't much.

However, the NAR and state licensing folks have their view and the agent is still at RISK.

Dec 16, 2014 09:57 PM #5
Rainer
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Bill Lauler
Chase Realty LLC - McLean, VA
Associate Broker,CIPS,CRB,SRES,GRI

Happy Holidays  Lenn, The agent is always at risk.So ,I contacted a broker friend of mind to take on the buyer in the last situation and as soon as the ink was dry the buyer decided not to say where the money would be coming from.

Dec 17, 2014 07:20 AM #6
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Bill Lauler

Associate Broker,CIPS,CRB,SRES,GRI
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