Creative Real Estate Selling Strategy

[pb4uski]

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Originally Posted by pb4uski Generally, the agent is representing the party who is paying their commission. Around here, most agents represent the seller, not the buyer. Even when you are buying and have an agent searching for a home for you and showing you homes and negotiating with the listing agent, they are representing the seller and not the buyer....

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Originally Posted by Katsmeow Not if you have a buyer's agreement with them that provides otherwise. It is pretty common where I am that buyers sign a buyer's agreement with the buyer's agent that spells out that the buyer's agent is representing the buyer, but is being compensated from a share of the commission paid by the seller on the house.....

Nothing like that around here that I am aware of. It would seem to conflict with the listing agent's listing contract where the agent represents the seller and in our area the selling agent is essentially a subcontractor. It must be that listing agreements in your area probably provide for the arrangement explained in your post.

[Katsmeow]

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Originally Posted by pb4uski Nothing like that around here that I am aware of. It would seem to conflict with the listing agent's listing contract where the agent represents the seller and in our area the selling agent is essentially a subcontractor. It must be that listing agreements in your area probably provide for the arrangement explained in your post.

I think you misunderstand. A buyer's agent is not the same person as the seller's agent. The seller has an agent who represents the seller. A buyer's agent is a different person from that agent and represents the buyer per written agreement. It is common in my experience that listing agreements typically provide for the selling agent to split commission with any buyer's agent.

I don't know what state you are in but I would be surprised if buyer's agent don't exist in your state as they are very common.

[pb4uski]

I didn't misunderstand. I never said the listing agent and selling agent were the same person - they can be where a listing agent sells one of their own listings, but in most cases the selling agent is different from the listing agent.

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A common buyer misunderstanding is because a buyer asks a real estate agent to assist them in obtaining a property, the Agent is representing the buyer and their interests. Unless the buyer and the real estate agent have contracted for representation by both signing a Buyer-Client Service Agreement, the real estate agent is representing the seller.

The agent who is showing homes to the buyer shows homes where the agent is also the listing agent and homes listed by other agents. If a home sells, the listing agent gets 1/2 the commission and the selling agent gets the other 1/2.

Around here, typically both agents represent the seller. Many buyers have the misconception that because they have developed a relationship with an agent and the agent has shown them houses that the agent represents the buyer. Buyer agency agreements are provided for in the law but are rare in our area.

Also see REALTOR.com: Who Represents You?

[Katsmeow]

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Originally Posted by pb4uski I didn't misunderstand. I never said the listing agent and selling agent were the same person - they can be where a listing agent sells one of their own listings, but in most cases the selling agent is different from the listing agent. The agent who is showing homes to the buyer shows homes where the agent is also the listing agent and homes listed by other agents. If a home sells, the listing agent gets 1/2 the commission and the selling agent gets the other 1/2. Around here, typically both agents represent the seller. Many buyers have the misconception that because they have developed a relationship with an agent and the agent has shown them houses that the agent represents the buyer. Buyer agency agreements are provided for in the law but are rare in our area. Also see REALTOR.com: Who Represents You?

I agree that buyers may have a misconception if they don't have a written agreement. I was talking solely about written buyer agency agreements. They did not use to be common but have become very common in recent years. I am not talking at all about the situation where someone doesn't have a written buyer's agreement providing that the agent is the agent for the buyer, not the seller.