Quote:
Originally Posted by billsr
Margaretmattson-
Yes, because I believe they will save or gain me more than that.
However, how do you see this unfolding? Are the sellers going to reduce prices to account for the reductions in commissions? Or the same thing for listing agents? How does anybody really gain? Yes, you can use the listing agent but they owe 100% loyalty to the Seller, not you.
It is like going to trial and using the opponent's attorney. If you had seen all the losses and mistakes that I have, you would feel different. To your good fortune you have only seen no problem deals but all you need is one bad deal to lose big $$$. Under your theory why not drop your insurance, too.
I once saw a closing agent embezzle $4,000,000 of my client's money. I got it back for them but if I had not been their agent, I would not have even tried.
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Sorry to point this out.You must not have been a good buyer's agent if you allowed $4,000,000 of your client's money to be embezzled. How did the closing agent know he had that kind of money? How did they gain access? It was your responsibility to make certain that information was not divulged.
I am only a contractor. When I deal with a buyer direct, I remind him not to share his financial situation. Even with me! As the seller, I only need a letter from a financial institution that states the buyer has the funds.
IMHO, real estate transactions go bad because the buyers agent is not equipped to handle or give advice on situations. Does a buyers agent see a problem with a home BEFORE the home inspection? Do they see a possible termite infestation? Can they handle changes that need to be made in contracts? etc.etc. No! They are ordinary salesmen.To state anything different is a lie. Your mishandling of your client's funds proves this point.