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ibjames.
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July 21, 2007 at 8:17 AM #66823July 21, 2007 at 8:17 AM #66888
joebaduba
ParticipantAgent: “You should consider lowering the top end of the selling range on your house”
Seller: “We never thought there was a chance in Hades that it would sell there anyway, how ’bout you just get rid of that stupid range altogether”
Agent: “OK, and you should consider adding another 1% to the buyers commission”
Seller: “I don’t like realtors and I don’t want them to get any more than the 6% of this transaction that they would already be getting”
Agent: “That’s fine but I have to tell you that I was at a meeting just this week and there was a buyer’s agent who said they wouldn’t even show homes to his client that were offering just the standard 2.5% commision”
Seller: “Our listing agreement with you says we will pay 3% to the buyer agent”
Agent: “Oh, Right” (?)
Seller should have asked her what meeting that was. Was it an inter-office meeting and this was one of the family?
Seller: “I thinks that’s a bunch of crap.”
Agent: “uh, er, yeah… We don’t engage in any of that kind of stuff here, but that is what is going on and it’s better to get a sale with extra costs than not get a sale at all.”
That range stuff is amusing to me in this market. I read on another thread here where a buyer offered at the low end of a range (Bankers Hill I think it was) and the seller countered at the high end saying they never really intended to sell if for that low. Buyer walked. Seller calls a few months later wanting to take them up on their original offer to which the buyer said that offer is no good anymore and now it’s less than the asking. The seller accepted that too but the buyer had such a bad taste in their mouth that they walked away:
I know a guy who knows a guy that has the same thing going on. Put in a respectable offer on a nice house below the high but above the low! Incredibly, the seller wants more. I told him this story and said he should expect to see them in a few months come knocking on his door. Apparently he’s pissed enough that even though he really likes the house, when they do he’s going to goof with them in the same way – and walk.
July 21, 2007 at 9:47 AM #66833PerryChase
ParticipantI don’t see what’s so unethical about it. The RE Agent is an independing contractor. He can do whatever he wants.
In my book, it’s OK to discriminate based on the money and time involved but not based on the person.
Buyers need to educate themselves some more. They have the money so, in essence, they control the transaction. If they don’t like something, they have the option to walk. Keep the emotions out of it.
July 21, 2007 at 9:47 AM #66898ParticipantI don’t see what’s so unethical about it. The RE Agent is an independing contractor. He can do whatever he wants.
In my book, it’s OK to discriminate based on the money and time involved but not based on the person.
Buyers need to educate themselves some more. They have the money so, in essence, they control the transaction. If they don’t like something, they have the option to walk. Keep the emotions out of it.
July 21, 2007 at 9:57 AM #66837SD Realtor
ParticipantPerry I would argue that it is unethical unless the buyers agent is very diligent in telling that same buyer that there may be houses ON THE MARKET that are exactly what this person is looking for and that agent will not show that buyer the home.
Additionally if that agent locks the buyer into a representation contract, then if that buyer does want one of these lower commission homes and is represented by another agent there could be a major problem.
So yes I feel that it is unethical because I do not believe the buyers agent would ever tell a buyer all of this information up front. If they did and they were very up front about it then I guess it is okay but you would have to be a pretty lame buyer to continue to work with someone like that…
I just do not see that happening.
SD Realtor
July 21, 2007 at 9:57 AM #66902ParticipantPerry I would argue that it is unethical unless the buyers agent is very diligent in telling that same buyer that there may be houses ON THE MARKET that are exactly what this person is looking for and that agent will not show that buyer the home.
Additionally if that agent locks the buyer into a representation contract, then if that buyer does want one of these lower commission homes and is represented by another agent there could be a major problem.
So yes I feel that it is unethical because I do not believe the buyers agent would ever tell a buyer all of this information up front. If they did and they were very up front about it then I guess it is okay but you would have to be a pretty lame buyer to continue to work with someone like that…
I just do not see that happening.
SD Realtor
July 23, 2007 at 10:50 AM #67145ibjames
ParticipantThat’s how I ended up on Pigginton, I put an offer in the “lower” portion of the asking price. Was denied, walked away. They came back to me 10k lower than my offer 3 months later. I said no forever, it really pissed me off.
That place ended up selling for another 15k under the price they came back at me with. They are going for even cheaper now.
July 23, 2007 at 10:50 AM #67210ParticipantThat’s how I ended up on Pigginton, I put an offer in the “lower” portion of the asking price. Was denied, walked away. They came back to me 10k lower than my offer 3 months later. I said no forever, it really pissed me off.
That place ended up selling for another 15k under the price they came back at me with. They are going for even cheaper now.
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