Quote:
Originally Posted by SHPayne
My colleagues probably won't like this, but it's not a bad strategy to go directly to the listing agent IF you are experienced and know what you are doing. BUT, understand that 1) it's not as cut and dry and easy as one might think under these new rules, and 2) the buyer won't get full, "Single Agent" level representation (although lots of buyers don't care nearly as much about that as NAR thinks they do especially IF it comes to compensating their agents out-of-pocket, even if by doing so it could, big leap "could", lower the price of the house). Sorry, I let an opinion or two slide in there.
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Another excellent post.
I hope people actually read this and understand what you're saying.
I've owned a real estate agency and bought and sold 100's of properties, both commercial & residential. I don't need a Buyer's Broker, although in residential transactions, I've always used them. Why? It's simply easier to deal with the commission structure, if I call a friend who's a broker and set him up as my representative (& how we handle the commission, is between us).
With these "new rules", I'm afraid way too many people will opt to "go it alone". Having dealt with 100's of "retail level" consumer buyer's, most don't have a clue what to do or how to do it. They're going to be lost and in danger of making huge mistakes, particularly in a state like Florida, which tries to keep lawyers out of the buy/sell process. Caveat emptor will take on a whole new level of importance.