Buyers Agent Question

[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.

[duncbdunc]

Thanks Russ, again. Two quick things.

One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.

Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.

If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.

Its comfortng to hear that you three are above the bar. I hope people pay attention.

[duncbdunc]

Thanks Russ, again. Two quick things.

One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.

Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.

If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.

Its comfortng to hear that you three are above the bar. I hope people pay attention.

[duncbdunc]

Thanks Russ, again. Two quick things.

One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.

Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.

If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.

Its comfortng to hear that you three are above the bar. I hope people pay attention.

[duncbdunc]

Thanks Russ, again. Two quick things.

One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.

Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.

If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.

Its comfortng to hear that you three are above the bar. I hope people pay attention.

[duncbdunc]

Thanks Russ, again. Two quick things.

One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.

Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.

If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.

Its comfortng to hear that you three are above the bar. I hope people pay attention.

[NotCranky]

duncbdunc,
To tell the truth I am a little surprised at how little residential property acquisition has changed.It seems realtors, as we are today, could easily be made obsolete by something else. That is not to say the work isn’t difficult,just that the residential marketplace could be changed into something much more efficient, inexpensive and less prone scandal. A lot of scandal could be removed if contracts were written with the golden rule in mind and not to favor the members of the organizations who hire the lawyers to write the contracts.Caveat Emptor.

Discount brokerages have their short comings.What I imagine is something like a cross between a flea market and a very transparent auction. Internet sites provide the flea market component and some one stop center brings efficiency of an auction.
The NAR probably would never let it happen.

Then again, full service may have some component of natural selection to it. Not sure what would happen if we took out the hand holding and other things a street level realtor provides.(yes I know some piggs, and some others, don’t need much of of that)(often times they need more than they think they do)

[NotCranky]

duncbdunc,
To tell the truth I am a little surprised at how little residential property acquisition has changed.It seems realtors, as we are today, could easily be made obsolete by something else. That is not to say the work isn’t difficult,just that the residential marketplace could be changed into something much more efficient, inexpensive and less prone scandal. A lot of scandal could be removed if contracts were written with the golden rule in mind and not to favor the members of the organizations who hire the lawyers to write the contracts.Caveat Emptor.

Discount brokerages have their short comings.What I imagine is something like a cross between a flea market and a very transparent auction. Internet sites provide the flea market component and some one stop center brings efficiency of an auction.
The NAR probably would never let it happen.

Then again, full service may have some component of natural selection to it. Not sure what would happen if we took out the hand holding and other things a street level realtor provides.(yes I know some piggs, and some others, don’t need much of of that)(often times they need more than they think they do)

[NotCranky]

duncbdunc,
To tell the truth I am a little surprised at how little residential property acquisition has changed.It seems realtors, as we are today, could easily be made obsolete by something else. That is not to say the work isn’t difficult,just that the residential marketplace could be changed into something much more efficient, inexpensive and less prone scandal. A lot of scandal could be removed if contracts were written with the golden rule in mind and not to favor the members of the organizations who hire the lawyers to write the contracts.Caveat Emptor.

Discount brokerages have their short comings.What I imagine is something like a cross between a flea market and a very transparent auction. Internet sites provide the flea market component and some one stop center brings efficiency of an auction.
The NAR probably would never let it happen.

Then again, full service may have some component of natural selection to it. Not sure what would happen if we took out the hand holding and other things a street level realtor provides.(yes I know some piggs, and some others, don’t need much of of that)(often times they need more than they think they do)

[NotCranky]

duncbdunc,
To tell the truth I am a little surprised at how little residential property acquisition has changed.It seems realtors, as we are today, could easily be made obsolete by something else. That is not to say the work isn’t difficult,just that the residential marketplace could be changed into something much more efficient, inexpensive and less prone scandal. A lot of scandal could be removed if contracts were written with the golden rule in mind and not to favor the members of the organizations who hire the lawyers to write the contracts.Caveat Emptor.

Discount brokerages have their short comings.What I imagine is something like a cross between a flea market and a very transparent auction. Internet sites provide the flea market component and some one stop center brings efficiency of an auction.
The NAR probably would never let it happen.

Then again, full service may have some component of natural selection to it. Not sure what would happen if we took out the hand holding and other things a street level realtor provides.(yes I know some piggs, and some others, don’t need much of of that)(often times they need more than they think they do)

[NotCranky]

duncbdunc,
To tell the truth I am a little surprised at how little residential property acquisition has changed.It seems realtors, as we are today, could easily be made obsolete by something else. That is not to say the work isn’t difficult,just that the residential marketplace could be changed into something much more efficient, inexpensive and less prone scandal. A lot of scandal could be removed if contracts were written with the golden rule in mind and not to favor the members of the organizations who hire the lawyers to write the contracts.Caveat Emptor.

Discount brokerages have their short comings.What I imagine is something like a cross between a flea market and a very transparent auction. Internet sites provide the flea market component and some one stop center brings efficiency of an auction.
The NAR probably would never let it happen.

Then again, full service may have some component of natural selection to it. Not sure what would happen if we took out the hand holding and other things a street level realtor provides.(yes I know some piggs, and some others, don’t need much of of that)(often times they need more than they think they do)

[5yearwaiter]

[quote=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.[/quote]

TO make simpler and much more attractive to the buyers – it is yet to come or yet to think make more public the offer via websites or via some internet technology. Folks will bid or bet on the straight offers. Don’t know why we make things more clumsy in this era and still this game became hide n seek. Though there are tone of lessons we are learning still the builders never turndown the listing prices (but ready to give some credit on that listing price). Kind of ugly scenario which never turn the situation better.

[5yearwaiter]

[quote=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.[/quote]

TO make simpler and much more attractive to the buyers – it is yet to come or yet to think make more public the offer via websites or via some internet technology. Folks will bid or bet on the straight offers. Don’t know why we make things more clumsy in this era and still this game became hide n seek. Though there are tone of lessons we are learning still the builders never turndown the listing prices (but ready to give some credit on that listing price). Kind of ugly scenario which never turn the situation better.

[5yearwaiter]

[quote=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.[/quote]

TO make simpler and much more attractive to the buyers – it is yet to come or yet to think make more public the offer via websites or via some internet technology. Folks will bid or bet on the straight offers. Don’t know why we make things more clumsy in this era and still this game became hide n seek. Though there are tone of lessons we are learning still the builders never turndown the listing prices (but ready to give some credit on that listing price). Kind of ugly scenario which never turn the situation better.

[5yearwaiter]

[quote=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.[/quote]

TO make simpler and much more attractive to the buyers – it is yet to come or yet to think make more public the offer via websites or via some internet technology. Folks will bid or bet on the straight offers. Don’t know why we make things more clumsy in this era and still this game became hide n seek. Though there are tone of lessons we are learning still the builders never turndown the listing prices (but ready to give some credit on that listing price). Kind of ugly scenario which never turn the situation better.

[Author]

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