Buyers Agent Question

[sdrealtor]

Accurate information SD R and that is a good way to handle it. I currently have a listing that one agent has an offer in on. He has the accepted offer on the short sale and has another buyer in back up witht he same offer. The only negative is that he submitted the same offer for his 2nd buyer and there are better back ups in place so if his 1st walks his second buyer probably wouldnt get it.

[NotCranky]

Disclosure and consent does exactly what I am saying, it discloses the right,therefore authorizes the buyer’s agent to show and write offers,including multiple offers on the buyers target properties to and for other buyers. The Boiler plate CAR buyers brokers agreement FORM BBNN does the same thing. These forms are written for realtors.

Like I said, you can cross out that authorization and in Item 7 there is room to write in “other terms and conditions”. Put in there that your agent will not write competing offers against your offers. The paper work really should be less of an issue many buyer brokers perform without contracts and wouldn’t do this to their clients.

I would be concerned that the agent writing multiple offers on the same property was in cahoots with the seller too. It just does have conflict of interest all over it. In any case it shows that the agent cares more about commissions than his client. The first client should be told and have the choice, not the second client. Yes there are conflicting “technicalities”, too bad.

[NotCranky]

Disclosure and consent does exactly what I am saying, it discloses the right,therefore authorizes the buyer’s agent to show and write offers,including multiple offers on the buyers target properties to and for other buyers. The Boiler plate CAR buyers brokers agreement FORM BBNN does the same thing. These forms are written for realtors.

Like I said, you can cross out that authorization and in Item 7 there is room to write in “other terms and conditions”. Put in there that your agent will not write competing offers against your offers. The paper work really should be less of an issue many buyer brokers perform without contracts and wouldn’t do this to their clients.

I would be concerned that the agent writing multiple offers on the same property was in cahoots with the seller too. It just does have conflict of interest all over it. In any case it shows that the agent cares more about commissions than his client. The first client should be told and have the choice, not the second client. Yes there are conflicting “technicalities”, too bad.

[NotCranky]

Disclosure and consent does exactly what I am saying, it discloses the right,therefore authorizes the buyer’s agent to show and write offers,including multiple offers on the buyers target properties to and for other buyers. The Boiler plate CAR buyers brokers agreement FORM BBNN does the same thing. These forms are written for realtors.

Like I said, you can cross out that authorization and in Item 7 there is room to write in “other terms and conditions”. Put in there that your agent will not write competing offers against your offers. The paper work really should be less of an issue many buyer brokers perform without contracts and wouldn’t do this to their clients.

I would be concerned that the agent writing multiple offers on the same property was in cahoots with the seller too. It just does have conflict of interest all over it. In any case it shows that the agent cares more about commissions than his client. The first client should be told and have the choice, not the second client. Yes there are conflicting “technicalities”, too bad.

[NotCranky]

Disclosure and consent does exactly what I am saying, it discloses the right,therefore authorizes the buyer’s agent to show and write offers,including multiple offers on the buyers target properties to and for other buyers. The Boiler plate CAR buyers brokers agreement FORM BBNN does the same thing. These forms are written for realtors.

Like I said, you can cross out that authorization and in Item 7 there is room to write in “other terms and conditions”. Put in there that your agent will not write competing offers against your offers. The paper work really should be less of an issue many buyer brokers perform without contracts and wouldn’t do this to their clients.

I would be concerned that the agent writing multiple offers on the same property was in cahoots with the seller too. It just does have conflict of interest all over it. In any case it shows that the agent cares more about commissions than his client. The first client should be told and have the choice, not the second client. Yes there are conflicting “technicalities”, too bad.

[NotCranky]

Disclosure and consent does exactly what I am saying, it discloses the right,therefore authorizes the buyer’s agent to show and write offers,including multiple offers on the buyers target properties to and for other buyers. The Boiler plate CAR buyers brokers agreement FORM BBNN does the same thing. These forms are written for realtors.

Like I said, you can cross out that authorization and in Item 7 there is room to write in “other terms and conditions”. Put in there that your agent will not write competing offers against your offers. The paper work really should be less of an issue many buyer brokers perform without contracts and wouldn’t do this to their clients.

I would be concerned that the agent writing multiple offers on the same property was in cahoots with the seller too. It just does have conflict of interest all over it. In any case it shows that the agent cares more about commissions than his client. The first client should be told and have the choice, not the second client. Yes there are conflicting “technicalities”, too bad.

[duncbdunc]

Thanks everyone for your response. Unfortunately, I’ve already signed the realtor agreement. I understood going into this process that a buyers interests aren’t always aligned with his/her agent, but this is one angle I never considered.

In a normal market the chances of this occuring is probably slim, but with so many buyers chasing a small inventory of homes it seems this could become more common. Either way, a buyers agent should disclose when they are bidding on the same home for more than one client. This way, the buyer can evaluate if their interests are being well served.

For example, are you getting the first look at a home that just gets listed, or does your realtor give preferential treatment to clients they think will submit the strongest offer? If you have information that would make the home more desirable, do you share it with your realtor? What if they transfer this information to another buyer they think will submit a stronger offer? What if you find a home that’s not yet listed but will be coming on the market soon. Do you share this with your realtor who may provide this information to another buyer?

So if the temptation for a buyers agent is to maximize their chance of winning a bid using their existing pool of buyers, the risk is that preferential treatment will be given to the client(s) that are most aggressive on price. Not a great deal if your a PIG, and may be a reason not to be completely honest with your realtor about your price sensitivity or any “non-public” information you may have on a particular home.

[duncbdunc]

Thanks everyone for your response. Unfortunately, I’ve already signed the realtor agreement. I understood going into this process that a buyers interests aren’t always aligned with his/her agent, but this is one angle I never considered.

In a normal market the chances of this occuring is probably slim, but with so many buyers chasing a small inventory of homes it seems this could become more common. Either way, a buyers agent should disclose when they are bidding on the same home for more than one client. This way, the buyer can evaluate if their interests are being well served.

For example, are you getting the first look at a home that just gets listed, or does your realtor give preferential treatment to clients they think will submit the strongest offer? If you have information that would make the home more desirable, do you share it with your realtor? What if they transfer this information to another buyer they think will submit a stronger offer? What if you find a home that’s not yet listed but will be coming on the market soon. Do you share this with your realtor who may provide this information to another buyer?

So if the temptation for a buyers agent is to maximize their chance of winning a bid using their existing pool of buyers, the risk is that preferential treatment will be given to the client(s) that are most aggressive on price. Not a great deal if your a PIG, and may be a reason not to be completely honest with your realtor about your price sensitivity or any “non-public” information you may have on a particular home.

[duncbdunc]

Thanks everyone for your response. Unfortunately, I’ve already signed the realtor agreement. I understood going into this process that a buyers interests aren’t always aligned with his/her agent, but this is one angle I never considered.

In a normal market the chances of this occuring is probably slim, but with so many buyers chasing a small inventory of homes it seems this could become more common. Either way, a buyers agent should disclose when they are bidding on the same home for more than one client. This way, the buyer can evaluate if their interests are being well served.

For example, are you getting the first look at a home that just gets listed, or does your realtor give preferential treatment to clients they think will submit the strongest offer? If you have information that would make the home more desirable, do you share it with your realtor? What if they transfer this information to another buyer they think will submit a stronger offer? What if you find a home that’s not yet listed but will be coming on the market soon. Do you share this with your realtor who may provide this information to another buyer?

So if the temptation for a buyers agent is to maximize their chance of winning a bid using their existing pool of buyers, the risk is that preferential treatment will be given to the client(s) that are most aggressive on price. Not a great deal if your a PIG, and may be a reason not to be completely honest with your realtor about your price sensitivity or any “non-public” information you may have on a particular home.

[duncbdunc]

Thanks everyone for your response. Unfortunately, I’ve already signed the realtor agreement. I understood going into this process that a buyers interests aren’t always aligned with his/her agent, but this is one angle I never considered.

In a normal market the chances of this occuring is probably slim, but with so many buyers chasing a small inventory of homes it seems this could become more common. Either way, a buyers agent should disclose when they are bidding on the same home for more than one client. This way, the buyer can evaluate if their interests are being well served.

For example, are you getting the first look at a home that just gets listed, or does your realtor give preferential treatment to clients they think will submit the strongest offer? If you have information that would make the home more desirable, do you share it with your realtor? What if they transfer this information to another buyer they think will submit a stronger offer? What if you find a home that’s not yet listed but will be coming on the market soon. Do you share this with your realtor who may provide this information to another buyer?

So if the temptation for a buyers agent is to maximize their chance of winning a bid using their existing pool of buyers, the risk is that preferential treatment will be given to the client(s) that are most aggressive on price. Not a great deal if your a PIG, and may be a reason not to be completely honest with your realtor about your price sensitivity or any “non-public” information you may have on a particular home.

[duncbdunc]

Thanks everyone for your response. Unfortunately, I’ve already signed the realtor agreement. I understood going into this process that a buyers interests aren’t always aligned with his/her agent, but this is one angle I never considered.

In a normal market the chances of this occuring is probably slim, but with so many buyers chasing a small inventory of homes it seems this could become more common. Either way, a buyers agent should disclose when they are bidding on the same home for more than one client. This way, the buyer can evaluate if their interests are being well served.

For example, are you getting the first look at a home that just gets listed, or does your realtor give preferential treatment to clients they think will submit the strongest offer? If you have information that would make the home more desirable, do you share it with your realtor? What if they transfer this information to another buyer they think will submit a stronger offer? What if you find a home that’s not yet listed but will be coming on the market soon. Do you share this with your realtor who may provide this information to another buyer?

So if the temptation for a buyers agent is to maximize their chance of winning a bid using their existing pool of buyers, the risk is that preferential treatment will be given to the client(s) that are most aggressive on price. Not a great deal if your a PIG, and may be a reason not to be completely honest with your realtor about your price sensitivity or any “non-public” information you may have on a particular home.

[NotCranky]

duncbdunc,
All the things you are talking about could come into play,and MORE likely with “Top Performers” as representatives, very insightful you are.It does stink that you might have to work around approved and customary documents to be certain to be a recipient of fair treatment. I’d like to believe many agents would not play their clients buying power against each other. Then again, many people find “dog eat dog” quite acceptable and those who don’t practice it naive or worse.

I think the realtor should defer to the first client and protect any legitimate advantage he or she brought into the negotiations on the property. However, just curious, if you were the second client and were told that the agent wouldn’t work with you on this property unless the first’s interest had waned, what would you do? Would you get a new “stronger” agent or respect that your agent practiced the “golden rule”? That is what the agent would be doing by defending the first buyers position IMO.

[NotCranky]

duncbdunc,
All the things you are talking about could come into play,and MORE likely with “Top Performers” as representatives, very insightful you are.It does stink that you might have to work around approved and customary documents to be certain to be a recipient of fair treatment. I’d like to believe many agents would not play their clients buying power against each other. Then again, many people find “dog eat dog” quite acceptable and those who don’t practice it naive or worse.

I think the realtor should defer to the first client and protect any legitimate advantage he or she brought into the negotiations on the property. However, just curious, if you were the second client and were told that the agent wouldn’t work with you on this property unless the first’s interest had waned, what would you do? Would you get a new “stronger” agent or respect that your agent practiced the “golden rule”? That is what the agent would be doing by defending the first buyers position IMO.

[NotCranky]

duncbdunc,
All the things you are talking about could come into play,and MORE likely with “Top Performers” as representatives, very insightful you are.It does stink that you might have to work around approved and customary documents to be certain to be a recipient of fair treatment. I’d like to believe many agents would not play their clients buying power against each other. Then again, many people find “dog eat dog” quite acceptable and those who don’t practice it naive or worse.

I think the realtor should defer to the first client and protect any legitimate advantage he or she brought into the negotiations on the property. However, just curious, if you were the second client and were told that the agent wouldn’t work with you on this property unless the first’s interest had waned, what would you do? Would you get a new “stronger” agent or respect that your agent practiced the “golden rule”? That is what the agent would be doing by defending the first buyers position IMO.

[NotCranky]

duncbdunc,
All the things you are talking about could come into play,and MORE likely with “Top Performers” as representatives, very insightful you are.It does stink that you might have to work around approved and customary documents to be certain to be a recipient of fair treatment. I’d like to believe many agents would not play their clients buying power against each other. Then again, many people find “dog eat dog” quite acceptable and those who don’t practice it naive or worse.

I think the realtor should defer to the first client and protect any legitimate advantage he or she brought into the negotiations on the property. However, just curious, if you were the second client and were told that the agent wouldn’t work with you on this property unless the first’s interest had waned, what would you do? Would you get a new “stronger” agent or respect that your agent practiced the “golden rule”? That is what the agent would be doing by defending the first buyers position IMO.

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