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Updated 26 days ago on . Most recent reply

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21
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Audrey Sommer
7
Votes |
21
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Common Practice for Idaho Real Estate Agents

Audrey Sommer
Posted

Hello,

I've recently picked my market for finding a LTR. I'll be investing in the Couer d'alene Idaho area. I'm currently in the process of deciding which agent to go with. But i want to get this community's professional and hopefully unbiased opinion about common RE agent practices in Idaho. 

First, is it required by law for a buyer to sign a buyer's agreement before they start touring homes? if you're beginning conversations with agents, and they don't recommend that you sign this agreement before the close on a property, is that a good thing or a bad thing? 

Next, what is the average, or a competitive commission % for a buyer's agent? I was reading online that it was 2.3%. Is that aligned with what's actually out there? If someone offered 3%, is that too high? what would be the justification for paying that much? This question goes without saying, that the seller's coverage of the commission is promised but not guaranteed, potentially leaving me (the buyer) with the check.

Next, what are your guys' opinions on limited dual agency with assigned agency? Would you recommend this or does it matter? I don't like the conflict of interest this comes with, but I can see the benefit as a buyer of getting access to properties that the brokerage is selling. However, I don't like the fact that properties they will show me, they will have a financial interest in, because it could affect my purchase negatively. what are the pros and cons of going with an agent that requires dual agency vs. not?

A lot of questions, I know. Any other advice or tips when selecting an ID real estate agent is appreciated. Please no sales pitches. Thanks!

  • Audrey Sommer
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