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should I insist on a seller's agent??

Posted by ilmbg (My Page) on
Mon, Jan 26, 09 at 4:08

It will be time in a few days to relist my home. After the experience I have had with the last realtor I am wondering.... should I insist on a seller's agent?
If those of you who are professionals- if the agent I will be interviewing says he is 'neither', should I pass him by and find a seller's? Does it really matter?

Thank you


Follow-Up Postings:

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RE: should I insist on a seller's agent??

Agent Interview Questions for sellers scroll down, the newest question list is by the bottom.


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RE: should I insist on a seller's agent??

The term Listing Agent can be interchanged with Seller's Agent, I think.

Another way to check is to find out how many current listings that agent has, and how many listings in prior year (or X month) that agent had and how many sold, how many expired, etc.

I think it is good that the agent should be able to show your home to any prospective buyers, thus acting as a dual agent. In these cases, the agent will be trying extract hard for the sale, to double dip the commission. Why exlude the agent from this, else they won't field the non refresented callers/buyers as seriously, as they would have to be shuffled to a different agent.


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RE: should I insist on a seller's agent??

I'm an agent and let me explain something to you.
I am appalled at my profession. A listing agent IS a seller's agent. It sounds as though you couldn't tell judging from your listing agent's behavior.
You may have been disappointed in your agents because they have not "protected" you or have not done everything they should in order to sell your house. Maybe they were lazy.

I am a new agent. I have a lot of experience with real estate, just not working in a real estate agency with and their agendas. The RE profession leaves a lot to be desired. I'm an idealist, so what I see going on in the business really peeves me.

In many cases, I see agents not truly abiding by the laws of fiduciary responsibility to their party. It seems that many agents feel out the seller and the buyer, and beat up the party that is easier to take advantage of just to make a sale, and mostly so their commission is larger. Most of the time, in this market, they expect the seller to make all the concessions, because they treat the buyer with kid gloves, lucky to have a buyer. If the buyer appears to be naive, or new, they take advantge of the buyer by having them offer a full price. Basically, the realtor game depends on who is dumber-the seller or the buyer. It's all about the commission.

IMO, the buyer's agent should try to get the best deal for their buyer, while the seller's agent should try to get the best selling price for their seller. It's an adverserial system. Many times the sellers and the buyers are left with a bad taste in their mouths dealing with realtors, because they act like used car salespeople. People are always searching for a "good" agent. I wonder why? *sarcasm*. Obviously they don't feel like the agent is in their corner.

I'm sure that I'll get attacked by realtors on this board. They will tell me that THEY are not like that. The truth is that a good, totally devoted, hard working realtor for their employer (buyer or seller) is one in a million. The profession is crooked, no matter what they profess. Money is the root of all evil. Gawh, how I wish the public could deferentiate the good realtors from the bad ones.
I refuse to compromise my ethics for a few dollars more. I enjoy helping people.

Nothing gives me better pleasure than to get a good deal for a buyer, or a the best sales price for the seller, totally protecting their interest first, the commission second. But I'm a rare breed. I probably won't survive in this field protecting my clients to the fullest.That's what I've been told by a seasoned realtor. It's not like this agent was crooked, just realistic.


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RE: should I insist on a seller's agent??

"But I'm a rare breed."

You certainly are and know so much as a newbie agent.
Are you a REALTOR familiar with the COE?


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RE: should I insist on a seller's agent??

I'm sure that I'll get attacked by realtors on this board. They will tell me that THEY are not like that. The truth is that a good, totally devoted, hard working realtor for their employer (buyer or seller) is one in a million.

Im not going to attack you, Im not going to waste my time on you. I'm gagging at your post. I suppose YOU are the one in a million? I wonder if all the agents who have been in the business for many years drug their clients into coming back year after year. You won't last, because you use your so called "ethics" as your excuse of why you will fail or are failing in the business. Truth is, with your attitude about the profession, you will not find any agents who want to work with you. That in turn will hurt your buyers and sellers.


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roselver- question 8

Thanks you all for your thoughts and experience.
Roselver- I have to ask about #8- how long to stop contract. What exactly do you mean? If someone signs a contract to buy, then stalls or doesn't qualify- and you don't want to tie up your property in case of another buyer??

Thanks for clarifying


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RE: should I insist on a seller's agent??

Berniek & Mary,
Gag all you want. Your comprehension must be very low. I said I was failrly new with a Real Estate Agency and compromised dealings, not new to the RE business. I'm probably old enough to be your mother.

Now as for COE-what a joke! It should be code of ethic-less.
As for agents not wanting to work with me. Yup, you're probably right. I cannot bag a buyer or a seller that I work with.

The last buyer that I turned over to another agent was taken advatage of. I didn't even ask for a referral fee. I just wanted the agent to do a good job for her. I was wrong. The realtor wanted a larger commission so she didn't negotiate for the buyer. I told the buyer that the agent will negotiate for her. I felt awful when that didn't happen. Most agents think it's ok. as long as the deal closes...They don't care. It's not their money that is spent on an overpriced property.

After all, the buyer was new and didn't know that she could get comps. Why should the realtor volunteer any helpfull information? It's extra work and less money in her pocket if the property sells for less. Tell me about ETHICS...

I'm sure you two don't see anything wrong with such behavior, but I do.

To the dynamic duo (Mary & Bern)-Peace out!


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RE: should I insist on a seller's agent??

ilmbg, #8 talks about the contract you sign to sell your property with the agent. Not a buyer.


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RE: should I insist on a seller's agent??

Berniek & Mary,
Gag all you want. Your comprehension must be very low

Really? Who is Mary? YAWNNNNNNN


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RE: should I insist on a seller's agent??

Linda, Mary, what's the difference? Very Testy, aren't we?....one of 999,999?

I was simply referring to the things I witness around me in majority of cases, which make the buyers and sellers go Hmmmm. You jumped in.

Nevermind.


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RE: should I insist on a seller's agent??

Notto you spew your ridiculous comments and when you are called on it you go off in another direction. You make no sense at all. Moi testy? LOL I dont think so. I dont have to defend my comments here, you do.


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RE: should I insist on a seller's agent??

Nutto: So you are NOT a REALTOR, since you don't follow the COE yourself (Preamble and Article 15), based on your statements.
Your opinions obviously are not offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain for yourself.

"I'm probably old enough to be your mother."

Again, an assumption! You are really full of them.
I've been in the RE business quite some time and could collect Soc. Sec. if so desired.
It is self serving individuals like you, that want me to stick around and teach disrespectful newbies what this business is all about, the only problem is, most of them fail in their 1st or 2nd year.


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RE: should I insist on a seller's agent??

About three years ago, I sold my mom's home in LA. After an eye-opening year of a roller-coaster process as a seller, my (at that time soon to be ex-listing agent)found a buyer just 11 days before the listing contract expired.

He was a dual agent -- he received a #30,000 commission. Through the process, I learned that his only allegiance was to himself -- there were many mistakes.

The buyer that he represented was even more ill-served than I was. The buyer eventually lost the property to foreclosure.
Try to find an agent that can get houses sold. Some of them only work on getting listings and don't work on getting the particular properties sold. Look at printed statistics.
Do not be misled by idealistic rhetoric about serving only the seller and talk about ethics. The agent is working towards his/her own best interests and that can work in your favor. Keep your eyes open.

Good luck
Susan


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RE: should I insist on a seller's agent??

Roselver- I have to ask about #8- how long to stop contract. What exactly do you mean? If someone signs a contract to buy, then stalls or doesn't qualify- and you don't want to tie up your property in case of another buyer??

Thanks for clarifying

Read the questions, they are pretty much in order although I might switch a few around looking at it now - 6 asks about the listing contract, 7 has to do with if you are unhappy with them as an agent. 8 is how long does the listing contract take to be canceled once you let them know you want out, then how do you let them know you are unhappy, do you have to call, fax send certified mail.

The question about where they rank on the MLS is worthless, I'd take it out. Most do not know.

Some of the stuff you'll find out just by sitting down with them, and what I did was filled in the blanks as they spoke

.

6) How long is the contract going to be? 3 months ____________ 6 months__________

7) If I am not happy for any reason will I be able to break the contract? YES_____ NO_____

8) How long will it take for the contract to be voided? _______________________________________________

9) What is the procedure that needs to be followed if I am not happy?

....

We were not going to sign a 6 month listing but when the agent said he'd allow us to break the contract in 24 hours we signed. In this market most won't sign a 3 month contract because the days on market are longer then 3 months.

....


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RE: should I insist on a seller's agent??

"7) If I am not happy for any reason will I be able to break the contract? YES_____ NO____"

I'd add: "with or without penalty?"

Some agents/brokers require reimbursement of marketing expenses.


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RE: should I insist on a seller's agent??

I am not a real estate agent... Just a person who has bought and sold a few houses, and did both recently.

The agent's employer is the agency. The agent's "customer" or "client" is the buyer or seller they are representing.

Buyers and seller's agents job is to faciliate a deal that works on all levels for all parties. Real estate deals are complicated... there are issues beyond money such as closing dates, buyer quality and addressing a myriad of smller issues that pop up. I paid my agent to work this out. My direction to my agent: I want to sell house A, buy house B, want the dollar differential between House A and B to be $X, and I don't want to be on the street between houses.

I just cannot imagine a real estate agent being successful in narrowly defining their role as simply getting a certain dollar value for the party they represent. Any decent agent I have dealt with was a deal facilitator.


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