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That's sad but true. In Florida, all agents work to achieve a closure for the transaction; the listing agent supposedly works for the seller--ha ha--but in reality noone represents buyer or seller, the agents are in collusion to get a sale completed. And get their commission
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Technology Should Make Things Cheaper
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In 42 states, a BROKER can represent both a Buyer and a Seller at the same time (dual agency). That sounds like "most" to me? Just a moment... A "Realtor®" is a trademarked term. Not all brokers are Realtors® To quote: "Where are you getting your information" ? |
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A buyers agent that colludes with a sellers agent and screws the client would quickly lose all their business. Word of mouth is strong. Good agents are ethical and provide proper guidance to their client. Shady agents don’t last long. |
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If you were paying attention, I was responding to the comment who suggested that a Realtor could not represent a buyer at all. This is in fact incorrect. There is no need for you to get upset, but I’m sure you will get over it. |
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The home we chose was listed by an outside real estate agent. Our agent didn't get a commission. He did the initial walk-through while we were up north, recommended a couple of folks to do the appraisal, helped us get in touch with our selected appraiser and set up appointments. He helped me make sense of the logistics of switching our Xfinity account AND plan since we were cutting the cord after the move. He even received a delivery of our brand new coffee machine the week before the closing, so we'd be able to enjoy a cuppa on our first morning in our new home. He gave us a lovely gift bag, which was a Villages thermal grocery bag (the big funny-shaped supremely-padded ones with the top zipper), filled with Villages towels and other goodies, including a gift certificate for a free hanging address sign for our front light pole. And he attended the closing, which was remarkable and incredibly appreciated, especially considering he wasn't allowed to earn a single dime in commission off our home purchase and they don't charge any fees for potential buyers to use their expertise when looking for resales. |
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If the homeowner needs to clear $100,000, and their agent requires a 5% commission, then the homeowner needs to get a minimum $105,000 sales price. The buyer pays that $105,000 - the homeowner keeps the $100k and the extra $5k goes into the agent's pocket. OR it gets split between the agent and the buyer's agent, if they have one. The decision on who gets the $5000 is between the listing agent and the buyer's agent, if there is one. They duke it out amongst themselves, but it's the buyer who's footing the bill only because it's built into the price they pay for the privilege of buying that house. |
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Realtors have different a different set of requirements than licensed real estate agents. |
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There is no such thing as a "REALTOR®" license. A REALTOR® is simple a Broker, who joins the National Association of Realtors and agrees to adhere to their ethical requirements ... and pays their fees every year. There is no way to be a REALTOR®, without belonging to the Association and paying dues. In most states, there are two levels of Real Estate "professionals". Sales People and Brokers. There are no states that offer a License as a "Realtor" ... that's a made up word, by the Nation Association of Realtors. Think of them as the difference between a Master Plumber and a Journeyman Plumber. The Journeyman can do most every job the Master can do, but he can't have any employees working under him. A Real Estate Salesperson can do most anything a Broker can do, but must work under the auspices of a Broker. In most states, a non-licensed person can work directly for a Developer or Home Builder, selling homes or property. |
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