[quote=bearishgurl]When the facts became more clear in drboom’s case, he WAS represented the first time by a former colleague of the listing agent[/quote]
Change to “would have been represented…”, and I would have received a four figure check.
[quote]and he engaged in a dual agency with the same listing agent in the second, successful transaction.[/quote]
Now where in the hell did you get that? Dual agency? What? I had my agent, and the seller had theirs. My agent split his co-op commission with me 50/50. I got a four figure check a week or so after closing and put it in the smoking crater that used to be my bank account.
[quote]In both instances[/quote]
I wrote about three, actually.
[quote]drboom posted about here, he WAS represented by an agent[/quote]
Totally wrong in the first case, barely hairsplitting right in the second case, and correct in the third case.
[quote]but he emphatically denied this and stated he was representing himself. (No offense to you, drboom – many, many buyers do not understand this concept.)[/quote]
It’s starting to look like I’m a lot smarter than you. No offense to you, of course. I fully understand the legalities even if I don’t know which CAR form to fill out when my bung itches. I signed exactly one agreement with an agent.
[quote]If truth be told and documents examined, I maintain that unrepresented buyers are actually engaged in a dual agency with the listing agent! [/quote]
Leave the technicalities to the lawyers. What is true is that Realtors(tm) have a monopoly on the only realistically priced inventory: short sales and REOs. Good for you. What’s also true is that buyers who are willing to do their homework can negotiate a better deal for themselves to mitigate some of the gouging. Yes, the California average of 5% is “gouging”. Thirty grand to sell the average house in San Diego is ridiculous.
[quote]It is also clear that a number of buyers think they can get paid a “commission” even if it is not contracted for PRIOR to an offer being drafted as there is no provision for commission to be paid to an unlicensed principal within the offer to purchase. If that offer is accepted on its face, escrow is opened and the instructions are drafted from the accepted offer.[/quote]
I got a check. I don’t care if you call it “commission” or “fettuccine alfredo”, it was paid out of the commission proceeds. Moreover, I did the fee split deal with my agent on a handshake … because that’s how honorable people do business whenever possible. Nothing was in writing to satisfy your obsession with paperwork.
[quote]I now wonder if these buyers realize they CAN be properly represented and also ask for 10% off the purchase price and some more concessions, to boot.[/quote]
