[quote=bearishgurl]
captcha, had you ever thought there might be ethical agents out there with whom you could contract (as you did) for 3-6 months as your exclusive “buyer’s broker” who might try to talk you out of making offers on particular properties you have your eye on because they “knew” material fact(s) about the property which could affect its liveability, use and/or present or future value? Such as: information about the construction, foundation, lot, adjacent lots, residential neighbors, neighboring businesses, environment, subdivision, future general plan, future school district plans, etc. that perhaps couldn’t be detected by a home inspection, wasn’t widely known, of public record, or perhaps WAS public record at one time but has since been “buried” six feet under. A fact no listing agent would ever reveal to anyone assuming they knew it themselves? Perhaps something you couldn’t learn from your i-phone single-handedly while simultaneously taking a p^ss? Caveat emptor . . . what would this info be worth to you??
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You are not suggesting that a listing agent acting as my buyer’s agent would forget to disclose information like that? That would be breach of his/hers fiduciary duty.
Seriously, the information you are talking about is not that exclusive, even assuming it’s known to the imaginary buyer’s agent. It would take a chat or two with neighbors and if you had a chance to do your homework and you rented in the area for a year or two with the intention to buy you would not even need to chat.
[quote=bearishgurl]
Yes, some of this stuff could be found out after (1) a preliminary title report has already been generated; (2) you already paid your inspector $450; (3) you already paid an appraisal fee; (4) you already paid your soils engineer $450++ (assuming you were astute enough to have the “seller’s broker” list the outcome of that inspection as a contingency in your offer, lol); (5) you already deposited a $5,000+ earnest money check, which has been sitting in escrow for a month or more; (6) your interest-rate lock will expire in 10 or 20 more days; and (7) you may have already signed off on one or more contingencies, etc. As a potential buyer, what’s your time and $$ worth to you?
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And the buyer’s agent will save $450 inspection fee? Or the appraisal fee? Or refund the fee if the appraisal comes in too low?
[quote=bearishgurl]
captcha, if I understand your post correctly, you purchased your property thru its listing agent. That listing agent had a contract with his/her REAL clients, the sellers, to earn a particular percentage of commission whether they sold the property themselves . . . or thru a co-broke arrangement. Instead of the listing agent and/or his/her broker making 50% (or less) of the contracted commission on the property (as they had expected to do when they listed the property on the MLS offering the co-broke fee), (s)he made 100% of it, thanks to you going straight to them for “representation.” You didn’t recieve any “concrete added value” equal to 3% by using the listing broker as your own “buyer’s broker” (agent). They just put that extra 3% in their own pockets!
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Did you read my post? I did receive concrete added value, I got my offer accepted.
[quote=bearishgurl]
captcha, I can tell you that lawsuits against real estate brokers and named agents are VERY COMMON in CA. Lots of buyers and sellers feel they have been damaged beyond repair by the conduct of agents and brokers (both by their own broker and participating co-broker). [/quote]
No kidding? They paid 3% and they did not get their monies worth? (wrt “seller pays commission” – whoever got paid got a chunk of money I brought to the table, I paid them all)
