Quote:
Originally Posted by CoachKandSportsguy
Here in MA, there are only listing / selling agents.
why?
because the lawyers manage the buyer's agreement. You want to put an offer on a house?
create the offer letter, run it by your RE lawyer, and you are good to go. the buyer's lawyer will guide the buyer for unseen circumstances. .
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Where do you come up with the contention there are only "Listing Agents" in MA?
MA has operated like most every other state for many years and allows "dual agency", provided it's disclosed and MA certainly has Buyer's Agents.
Just a guess, but having bought and sold 100's of homes in MA and owned a real estate agency in MA, I would be very surprised if more than 20%-25% of Buyers, hire an attorney.
Most everyone *thinks* the "closing attorney" is their lawyer, but the closing attorney is only acting as a Title Attorney and is representing the bank (mortgage holder).
How this new FTC Ruling shakes out, is still up for debate. I don't see it helping consumers as much as the FTC would have you believe it will. On its face, I think it will work against consumers, at least in the beginning.
If I were to take a wild guess, I think it's going to eventually put "Selling Brokers" out of business. The market has been moving towards that, since the advent of the Internet, Zillow, RedFin and now even the MLS allows people to list on their service.