Quote:
Originally Posted by Bonanza
You are correct in that you won't find a buyer who will pay a Villages agent. Truthfully, I don't know which type of agent Villagers' agents are. Logic tells me that they are supposed to be transaction brokers, but ??? Generally, the buyer's agent's commission will come from the seller's funds as part of the commission split between the listing and selling offices. But there have been cases where the buyer will pay the agent for representing her/him. Personally, I have never known a buyer's agent and have not heard about one in many years.
You are right if you are a seller's agent you must make sure buyers are aware that that you represent the seller and anything they tell you can be passed on to the seller. That would not be the case with transaction brokers. I also agree with you regarding what an agent should mention regarding representation at the first point of contact, i.e. who they do or don't represent.
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Personal experience in New York. It was many years ago and people were having a hard time selling. I entered a written offer on a house. I later found the home was sold for less than my offer. I contacted the real estate brokers association-whatever it is called.
They wanted me to come out and testify. The obvious question what will happen. I was told the broker, if found guilty would be fined. Who does the money go to-THE REAL ESTATE BROKERS ASSOCIATION. They were asking me to take time off from work to clean up THEIR MESS and not be paid for it.
Riding around in the brokers car. People forget the broker works for the seller. Conversation-We will offer $$$$$$$$$ but if we need to we will pay $$$$$$$$$$.
The broker presents the seller with a written offer and says I think they will go up from this offer. BEWARE.