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HandyMam | Y or N please: Are realtors more motivated to work with ...? |
Are realtors more motivated to present to their seller an offer from a buyer who has no realtor they are working with and make the double commission vs. presenting an offer from another realtor where they share the sales commission?
I'm looking for truthful answers please and not all the ethical soapbox dime a dozen answers. |
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ugafan
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let's say with one offer you could earn $10,000.
with the other offer you could earn $20,000.
which would you be more excited about? |
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bostonianinmo
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Neither. A real estate agent is legally bound to bring ALL offers to the seller regardless of who is representing the buyer, if anyone at all. Failure to do so can cost them their license. As a seller, if I found out that my agent failed to bring me an offer for any reason, they could kiss off the listing in a heartbeat as well.
No real estate agent or broker would risk their license over something as foolish as this. |
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Atlanta Realtor
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Regardless of a Realtor's personal motivation, they are required to present all offers to their clients, and show the benefits and downsides of each. If the better offer (one that nets you the most) is the one that nets them double, then you both have done well! If the better bottom line for you has your agent splitting the commission, then your agent has done their job and will receive the agreed upon percentage. If you feel your agent is misrepresenting one offer in order to highlight the one that will net them a bigger paycheck...that's a problem. You should ask that the agent meet you with THEIR broker to go over the choices. |
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yimmajazzi
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Yes |
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jbarelli
 |
Usually with this many answers, I skip the question, but this is a really good question.
And there are several legitimate answers.
For myself, I'm a bit uncomfortable writing offers on my own listings. Yes, it's double the money, but it's more than double the potential headaches.
Of course, if someone comes to me and asks me to write up an offer, I'll certainly do it, but I will tell them that my responsibility is to the seller.
Additionally, many buyers that choose to go without an agent also expect the listing agent to cut his or her commission by the amount that the selling agent would normally get. This equates to more than twice the work with no additional money.
Sometimes that demand is made up front, but at least as often it's made when in the inspection phase, where the buyer expects the agent to pay for repairs beyond what the seller is willing to do. Most experienced agents can tell you horror stories about this kind of situation.
So, the bottom line, at least for me. No, I'm actually less excited about double commission than I am cautious of the many problems involved with dual agency and/or unrepresented buyers.
There's just too much of a chance of getting all of nothing, rather than half of something. |
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gibtown
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With the market the way it it, realtor's just want to sell a house. Right now, I don't think they are choosy. A year ago might have been a different story... |
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matsonb
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Sorry if i don't meet your criteria for an appropriate answer your heiness. If everything else is equal, then of course they would go for the one with more commission. However, if the one with less commission is more likely to close, or is a better deal for their client, then they will still go with the less commission deal. At least an ethical, and intelligent one will. Is that ok? is that a dime a dozen? Oh please accept my answer as sufficient... http://www.choicefinance.net/ |
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Terry S
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The good Realtors don't think all or nothing.
If the buyer likes the home I've listed then it is much easier to deal with both the seller and the buyer.
But it really makes no difference.
Sorry if this is not the answer you are looking for. |
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Christiane
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Realtors are obligated to bring offers to their sellers. Let me ask you a question, Why wouldn't you want to have assistance when buying the largest most expensive purchase of your life? |
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Expert Realtor
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It actually depends on the state you are in because different states have different requirements on how offers are presented.
In my state, I have to present an offer as soon as it is submitted to me, to the sellers. However, some Realtors in my state will "sit" on offers if they know others are coming in, and not tell the sellers about it....this is a dangerous game to play because an offer can be withdrawn by the buyer at ANY time prior to acceptance by the seller. Any smart buyer is going to continue shopping until the offer is accepted.
I do know of other states, where there is an "offer period" where offers are submitted during a specified period of time, and they are all laid out at the same time, and the seller picks the one they want to accept or counter.
Some states that do an "offer period", also have an additional requirement, that offers have to be "time stamped", and they are opened one at a time. The seller must make a decision on offer #1 before going to offer #2, but if they go to #2, they can't go back o #1....these are usually regulated by an attorney or a broker to maintain integrity.
So, it all depends on where you live on how quickly an offer gets submitted. That is why it's important to get your OWN Realtor, so you know the rules of the game, have your own representative, and as I'm always saying on Y!A...YOU DON'T GET A DISCOUNT FOR NOT USING ONE. |
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Randy W
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Allot of this depends on the realtor themself. You will find the good ones that don't care, just just schedule as many showings and meeting a day as possible to improve their odds of selling a house and their are the ones that work with a group that would rather only deal within this group.
Then you have the New guys, these are the one that you want, motivated to present thier sellers homes to anyone and it's even better if it's double the commision. Most realtors would rather make more money from one single sale then from allot of little ones. But the New Realtors you will find are hungry and work that much harder to sell your house, Becuase this mean groceries on their table. |
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Terry
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Most realtors do not understand a thing about selling.
This surely must be the first requisite. |
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