Real Estate Agent Representing Both Buyer and Seller

[JRSC00LUDE]

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Realtors are incented to price low for quicker sale. Seems to go against their fiduciary obligation....hard to trust this bunch when a simple web search yielded more accurate market evaluation than their cumulative professional experience.

That's kind of a nonsensical position for any serious agent to take although I am sure shitty ones do it. Pick a professional, just like anything else.

[suntan]

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That's kind of a nonsensical position for any serious agent to take although I am sure shitty ones do it. Pick a professional, just like anything else.

The only way you'd truly be able to do that is to compare their entire selling history versus the average. Even then you're most likely to get someone better than average, not the best.

[you&me]

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That’s on you for hiring a shitty agent

That's what I said

A bad or unscrupulous agent has far less to lose than the homeowner, by pushing for a lower price... Do you want a calculator?

So sure, that's why you should not hire a shitty agent. And more on topic, why the OP should consider either reping himself as 89coupe suggested (did I just say that?), or find another, preferably non-shitty, agent to represent them.

[killramos]

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That's what I said

A bad or unscrupulous agent has far less to lose than the homeowner, by pushing for a lower price... Do you want a calculator?

So sure, that's why you should not hire a shitty agent. And more on topic, why the OP should consider either reping himself as 89coupe suggested (did I just say that?), or find another, preferably non-shitty, agent to represent them.

You could try to pay a higher commission on the marginal final dollar amount if you want to improve alignment? Seems like a waste of time to me but if that makes you feel about limiting the agents downside by all means go for it.

By your logic why would you hire an advisor or broker to help sell or advise on a transaction for anything, you will always have higher exposure than they do. “Scrupulous” or not.

My comment was merely that an agent is also making less money on the sale by pricing a home lower than market. Maybe it moves quicker, maybe it doesn’t.

Real estate is a service, I pay my realtor to do work I don’t want to do or are otherwise not well suited to do. It’s literally no more complicated than that.

[tcon]

Oh I guess I could have looked a little harder before posting in the other thread, trying to get some opinions on this scenario but as a buyer.

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I've done it, but as a buyer. I drove around the neighbourhood I wanted to live in, saw the new sign on the lawn, called the name on the sign, viewed and bought. (Even paid the asking price, LoL!)

So was the Realtor not willing to negotiate? or you didn't bother trying?

[ThePenIsMightier]

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Oh I guess I could have looked a little harder before posting in the other thread, trying to get some opinions on this scenario but as a buyer.



So was the Realtor not willing to negotiate? or you didn't bother trying?

In my opinion, the house was priced appropriately, so we paid what it was worth and it got done.
At the time. We were coming from the West coast and we found out both hilarious and adorable that houses sitting in actual loans could sell for a couple hundred thousand less than what we felt was normal. So...

I don't know WtF Android has decided with auto erect from above, but... There you go.
I don't care.
#Liquors

[cidley69]

Are there any publicly accessible websites you can use to look up the sales history of a house, by address?

[ExtraSlow]

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Are there any publicly accessible websites you can use to look up the sales history of a house, by address?

Honestdoor

[Disoblige]

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Are there any publicly accessible websites you can use to look up the sales history of a house, by address?

Honestdoor?
Bode?

I like Bode way more with their sold data.

[Waldi]

My realtor brought buyer, since we had multiple offer, she involved independent realtor from her office to manage negotiations. It was all very professional and yes we did save money on comission.

[bjstare]

@cidley69 you should post back here with updates once you do some price research. I'm sure I'm not the only one curious about what you find when you do some market research and compare it with your realtor's quote.

[cidley69]

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@cidley69 you should post back here with updates once you do some price research. I'm sure I'm not the only one curious about what you find when you do some market research and compare it with your realtor's quote.

The dual agent realtor wanted to sell our house for $599K, and wanted us to buy the other house for $699K, both deals outside the MLS system. We engaged a 2nd realtor, who's market evaluation suggested we list for $625K, and in their opinion the other house was worth $650K. We are no longer interested in other house at asking price, and will wait to see how much it lists for on MLS. Contemplating a couple small improvements to increase resale potential of our house.

Will update once that other house lists. We think it won't list for $699K, that was a special "we know the realtor" deal, actual list price will be less for the general public.

[pheoxs]

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The dual agent realtor wanted to sell our house for $599K, and wanted us to buy the other house for $699K, both deals outside the MLS system. We engaged a 2nd realtor, who's market evaluation suggested we list for $625K, and in their opinion the other house was worth $650K. We are no longer interested in other house at asking price, and will wait to see how much it lists for on MLS. Contemplating a couple small improvements to increase resale potential of our house.

Will update once that other house lists. We think it won't list for $699K, that was a special "we know the realtor" deal, actual list price will be less for the general public.

By no means is it accurate but honestdoor does give a rough estimate on value based on the homes past sales and the area. It fluctuates a lot but should be somewhat close (so if its 50 or 100k off then something is odd, unless recently renovated or other changes)

[cidley69]

The house we were interested sold, it was listed at 4:30 and was sold 15 mins later. Apparently the deal was done before it hit MLS and was added after. Is there some reason it would even go to MLS, if deal done outside that system?

Is there any website or can a realtor find this info:. Want to know the listed price and sold price, by listing realtor?

Looking for the trends per realtor in our area.

[npham]

bodecanada.com and honestdoor.com have sold data but it can take some time to update as the transaction needs to go through (I believe) before their websites can pull the data in.

[cidley69]

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bodecanada.com and honestdoor.com have sold data but it can take some time to update as the transaction needs to go through (I believe) before their websites can pull the data in.

Is there a filter by realtor option on either of those websites?

I know in the MLS search portal that realtors setup auto searches for people, it includes listed, offer and sold price. Is all this info in bode/honestdoor also?

Is there some mechanics of the transaction reasoning on why a house sale needs to be put through MLS, even if deal done outside MLS?

[89coupe]

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Is there a filter by realtor option on either of those websites?

I know in the MLS search portal that realtors setup auto searches for people, it includes listed, offer and sold price. Is all this info in bode/honestdoor also?

Is there some mechanics of the transaction reasoning on why a house sale needs to be put through MLS, even if deal done outside MLS?

There are tons of deals done outside of MLS.

Half my deals are not on the MLS

[cidley69]

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There are tons of deals done outside of MLS.

Half my deals are not on the MLS

I fully understand that, my question is: what's the rationale for adding a done deal into MLS system?

[89coupe]

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I fully understand that, my question is: what's the rationale for adding a done deal into MLS system?

Lots of realtors like to do it for recognition.

Others do it to keep a record.

Others do it to maintain market value.