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JD
 
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Default finding buyer's agent after first look at a house

Caliban wrote in message
ink.net...

IMO, a listing agent (a.k.a. seller's agent) does not deserve the whole
commission just because he or she spent maybe at most an hour or two with
the buyer showing him/er around the house. Nor from my experience with two
home purchases (extensively researched) and one home sale would any

selling
agent expect what you propose.


Well, I guess you've never been an agent.

Georgia's laws, like many states now, do have provisions for buyer's

agents.
E.g. see web site

http://www.realpagessites.com/buyers...ion/page2.html
. Chances are, Georgia law also has provisions for "dual agency." This
sounds like something Dan might have to deal with, although I advise

against
it, as it's easily avoided. (Comments, anyone, on dual agency?) Dual

agency
occurs if the same real estate company that lists the property also
represents a potential buyer. It's allowed, and when a buyer signs a
contract for "dual agency," typically he or she will have explained to him
that the company will do everything possible to get him/er (the buyer) the
best price possible. (Meanwhile, some other agent for the same company has
already signed a contract with the seller saying the same thing.) But the
conflicts of interest (both agents since they work for the same company

want
to make the company as much money as possible) are present, which sucks

IMO.

Here we go with the "make most money" argument. All you need to do is work
up the numbers to see that the argument is bogus. How much of a gap have you
seen in your vast experience? $2K? $5K? 10? How much commission is involved
and what percentage of the total commission does it represent?

I see little advantage in dual agency, and many web sites strongly
discourage using it. The only possible advantage is getting some wiggle

room
on the negotiating price: Maybe the buyer and seller actually do use dual
agency and also the exact same agent. Perhaps the agent will agree to a
commission of just 4% since if the buyer goes out and gets a buyer's

agent,
the first agent's commission will be less, at 3%, typically, for the areas
where I have lived. But this is a lot of finagling. A buyer has enough to
deal with just negotiating all the other minutiae of an offer. Plus, the
buyer just can't be as certain a dual agent will work hard for him/er to

get
the best price.


You may want to think it through a little more.