Although agency disclosure is required by state law that homebuyers are told the role of their real estate agent in the sales process, and most importantly, whom the agent represents, less than one-third of real estate agents comply. That’s according to the National Association of Realtors’ 2005 Profile of Home Buyers and Sellers. Agency disclosure…
Question: If a selling agent neglects to inform a homeowner that a higher bid has been made and chooses instead to sell the house to a person he’s also representing as a buyer’s agent, what rights do the seller — and the higher bidder — have? Can this agent be reported to anyone for unethical…
Last week’s column on shopping for a buyers agent elicited considerable response from real-estate brokers and agents, especially on the topic of exclusive buyers agents and dual agency. Julia Huntsman, a Cerritos, Calif., broker associate, argues that agents who don’t take listings lack a comprehensive understanding of their own profession, and that many buyers prefer…
Like anyone else in business, real estate agents flock to where the money and power is. And right now, it’s the home buyers who are in the saddle! Currently, 64% of home buyers use buyer agents when they purchase a home. Real estate agents want to push that number higher. According to the National Association…
The relationship between home buyers and their agents has always been tenuous. Agents are paid a cut of the selling price, so the higher the price, the better for them — but not for their clients. One way around the conflict is to use an exclusive buyer agent (search for one at http://www.naeba.org/). Unlike traditional…
Exclusive Buyer Representation Eliminates Conflicts of Interest at the Heart of Suit MARCH 9, 2007 Problematic business practices by “traditional” real estate brokerages are currently being scrutinized in a Minnesota district court. The outcome of the Minnesota class action suit could have implications for the real estate industry across the country, according to Jon…
