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Hell Yes!

 
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Old 03-20-2019, 04:46 PM   #41
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Re: Hell Yes!


I am waiting for the internet to change the real estate game. It happened with auto dealers, but real estate seems to be the next one impacted. Most buyers nowadays are able to see the houses online in very vivid detail. Back in the pre internet days, the realtors had a bit of a monopoly with the MLS listing service. If you didn't list with them, your visibility was severely limited. It will just take someone from within the industry, with deep pockets, to make it happen.
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Old 03-20-2019, 05:54 PM   #42
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Re: Hell Yes!


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Originally Posted by KAP View Post
Not allow the deal to happen and killed the deal? I'd like to hear the details on that one... The buying realtor has NO CHOICE in the matter especially in a FSBO scenario...

The advantage of FSBO'ing is you cut out the agent but you have to do the work yourself... the seller is the one who signs a listing agreement... the buyer can literally have 10 agents looking for them, and they don't HAVE to use ANY of them to make the purchase... even with FSBO if a buying agent brought you a buyer, you don't think they should be compensated?

OR you can pay the professional to do what you're not willing to do yourself... go out and find the buyer, which is the key to the whole purpose you're selling...

Killed it. I offered 3% but she didn’t think that was enough. Knowing I wasn’t paying a listing fee she wanted more. The cartel doesn’t like you cutting out a sellers agent so she wanted that piece too. She straight up told me 4% or the deal is dead.
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Old 03-20-2019, 05:56 PM   #43
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Re: Hell Yes!


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Originally Posted by Warren View Post
. Back in the pre internet days, the realtors had a bit of a monopoly with the MLS listing service. If you didn't list with them, your visibility was severely limited. It will just take someone from within the industry, with deep pockets, to make it happen.

Still is that way today.
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Old 03-20-2019, 06:23 PM   #44
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Re: Hell Yes!


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Killed it. I offered 3% but she didn’t think that was enough. Knowing I wasn’t paying a listing fee she wanted more. The cartel doesn’t like you cutting out a sellers agent so she wanted that piece too. She straight up told me 4% or the deal is dead.
Then you were dealing with an unethical agent... like in all trades, they do exist... they are obligated to present all offers and they have no legal standing to kill any deal... that's up to the buyer to make that decision...

Hopefully, you learned to get contact information from the buyers while doing an FSBO...
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Old 03-20-2019, 06:28 PM   #45
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Then you were dealing with an unethical agent... like in all trades, they do exist... they are obligated to present all offers and they have no legal standing to kill any deal... that's up to the buyer to make that decision...

Hopefully, you learned to get contact information from the buyers while doing an FSBO...
I had their contact info., they didn’t dare go forward because they were afraid the agent would sue them for the commission if we made the deal without her. It was a sellers market so I moved on and sold it for more money.
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Old 03-20-2019, 07:18 PM   #46
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Re: Hell Yes!


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I had their contact info., they didn’t dare go forward because they were afraid the agent would sue them for the commission if we made the deal without her. It was a sellers market so I moved on and sold it for more money.
They don't have to use the buyers agent... period... unless they are unique in some way in that their agent had them sign something to that effect, which is unlikely... but as your article points out, the buyers agent commission comes from the seller via a listing agreement, not the buyer... no listing agreement because you're doing FSBO, so they'd have no standing to sue anyone...

And that agent CANNOT stop a buyer from buying... the buyer has all the power in that scenario... but congrats on getting more... looks like the buyers agent ended up helping you...
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Old 03-20-2019, 07:52 PM   #47
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Re: Hell Yes!


Here, there is no way a buyer's agent would show you one house without a signed commission agreement.

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Old 03-20-2019, 08:01 PM   #48
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Re: Hell Yes!


Real estate law varies state by state. Up here, I think I could turn Johnson's scenario over to an attorney and get the buyer if they withdrew the offer and get the agent for tortious interference.
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Old 03-20-2019, 08:09 PM   #49
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Re: Hell Yes!


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Here, there is no way a buyer's agent would show you one house without a signed commission agreement.

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Like this:

https://www.mirealtors.com/Portals/0...ents/FormJ.pdf

Check out paragraph 4 under commission and then paragraph 5.
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Old 03-20-2019, 08:10 PM   #50
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Re: Hell Yes!


Anyway this is going to court and it’s some serious as shlt lawyers involved. It will be sorted out there, not on CT. We all shall see how this shakes out.
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Old 03-20-2019, 10:15 PM   #51
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Re: Hell Yes!


Quote:
Originally Posted by Big Johnson View Post
Like this:

https://www.mirealtors.com/Portals/0...ents/FormJ.pdf

Check out paragraph 4 under commission and then paragraph 5.
It says buyer is responsible for paying the buyer's agent.

It will be an interesting case.
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Old 03-21-2019, 07:41 AM   #52
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Re: Hell Yes!


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It says buyer is responsible for paying the buyer's agent.

.


“5. CREDIT: Buyer will receive a credit against any amount owed pursuant to paragraph 4 above for any commission paid to
Broker by the seller or the seller’s listing broker.”


My potential buyer, if they had signed the agreement with their agent (which most agents require), would have been on the hook for the commission if I wouldn’t have payed it for them.
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Old 03-21-2019, 07:58 AM   #53
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Re: Hell Yes!


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“5. CREDIT: Buyer will receive a credit against any amount owed pursuant to paragraph 4 above for any commission paid to
Broker by the seller or the seller’s listing broker.”


My potential buyer, if they had signed the agreement with their agent (which most agents require), would have been on the hook for the commission if I wouldn’t have payed it for them.
Exactly.

The buyer's agent fee should have been spelled out in their contract, and holding someone up for 4% would be a breach if that wasn't in the contract. I bet it wasn't. The person was trying to be a thief.
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Old 03-25-2019, 09:09 PM   #54
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Re: Hell Yes!


I just remembered another trick a realtor pulled over on me. In their mls they can put notes only realtors can see. I told my listing agent that I wasn’t providing appliances so he left it out of the public listing but put in the section that only other realtors can see that I would pay for appliances. No limit.

Buyers asked for top end appliances because their agent told them I’m buying whatever they want. I eventually negotiated it down to about $3K but that was another dirty trick pulled by a corrupt realtor. That was supposedly my agent who had a contract that he was required to work in my interest.
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Old 03-26-2019, 08:39 AM   #55
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Re: Hell Yes!


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I just remembered another trick a realtor pulled over on me. In their mls they can put notes only realtors can see. I told my listing agent that I wasn’t providing appliances so he left it out of the public listing but put in the section that only other realtors can see that I would pay for appliances. No limit.

Buyers asked for top end appliances because their agent told them I’m buying whatever they want. I eventually negotiated it down to about $3K but that was another dirty trick pulled by a corrupt realtor. That was supposedly my agent who had a contract that he was required to work in my interest.
LOL, realtors there must really stink. Plenty are shady, but not that shady. I'm talking saying a low slope roof has a membrane roof when it has a sealed seam MSR roll roofing roof type of shady. Or unpermitted and nonconforming kind of shady. Stuff they can claim ignorance on, not outright fraud....

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