All Forum Posts by: Andrew Lax

Quote from @Andrew Lax:

Quote from @James Hamling:

Quote from @Andrew Lax:

What exactly is a listing brokers job then ?   I assume securing a Buyer is one of those responsibilities... and vetting potential buyers would fall under that category ...  

No, that's buyers job and responsibility in how they present themself. It's NOT job of seller(s) to help buyers best present themself. 

Listing agency is the seller(s). We are hired by seller(s) to represent seller(s). 
This argument that seller(s) agent must assist buyer makes as much sense as saying a prosecutor must help a defendant who wants to represent self in court to correctly file assorted fillings. 

This has become an annoying circular argument now that only serves to highlight the tactic some may seek to use to strong-arm there way into a property.    To what end, I don't know, because it's not going anywhere from there. What next, try to force seller(s) to accept a PA on stated facts with 0 supporting doc's????     To what point is strong-arming way into property? To see how much negative rapport can get built to then beg seller(s) to select you? 

This has become rather pointless line of discussion to be honest.... 

Who said anything about "assisting" a Buyer ?    

The Listing Agent will simply request the information from the Buyer and  review with Seller .... 

Its a very simple concept - not sure why you are wrapped around the axels ... 

The only issue here is I am informed and you are not. 

That I, along with other informed persons, keep trying to explain this yet it's now a circular debate of arguing why doesn't it all work they way you THINK or feel it should..... 

Which is really a tale of our times, arguing FEELINGS vs facts. 

Why don't the facts align with with your feelings, IDK, and honestly I don't care because I am so burnt out on such arguments of feelings and assumptions. 

Everything has already been said and detailed at length, if one cares about understanding the why, it's been detailed in this posting in great detail. 

For those still seeking to impose feelings over facts..... I got nothing more to say on that. 

Quote from @Andrew Lax:

What exactly is a listing brokers job then ?   I assume securing a Buyer is one of those responsibilities... and vetting potential buyers would fall under that category ...  

No, that's buyers job and responsibility in how they present themself. It's NOT job of seller(s) to help buyers best present themself. 

Listing agency is the seller(s). We are hired by seller(s) to represent seller(s). 
This argument that seller(s) agent must assist buyer makes as much sense as saying a prosecutor must help a defendant who wants to represent self in court to correctly file assorted fillings. 

This has become an annoying circular argument now that only serves to highlight the tactic some may seek to use to strong-arm there way into a property.    To what end, I don't know, because it's not going anywhere from there. What next, try to force seller(s) to accept a PA on stated facts with 0 supporting doc's????     To what point is strong-arming way into property? To see how much negative rapport can get built to then beg seller(s) to select you? 

This has become rather pointless line of discussion to be honest.... 

Quote from @Andrew Lax:

What exactly is a listing brokers job then ?   I assume securing a Buyer is one of those responsibilities... and vetting potential buyers would fall under that category ...  

I'm not going to go through the list, as there's going to be some specificity depending on your state, but in mine (TN) the only thing that could be referenced is the broker can use best efforts to find a buyer, and is permitted to show the house to a buyer. Nowhere in that agreement does it say "without compensation". The standard agreement is going to be redrawn because of the settlement, so we will see what's in the new agreement, but I doubt there will be any requirement to show or sign up buyers without compensation. 

I've known a lot of lawyers in my life. Every one of them billed for everything, usually in 6 minute increments. They wouldn't even answer a question "pro bono". For some reason you think this should be different for listing brokers? 

Everyone I've interacted with since the settlement that wants the listing broker to work for free is a cheap investor who doesn't want to pay for anything and just wants more money in their own pocket. If brokers/realtors aren't worth what they are paid, why not just ignore everything on the MLS and work with FSBO, auctions and the like? That solves the problem completely.

Quote from @Andrew Lax:

How does showing a property to a potential buyer create an agency ?   That makes no sense... 

In this post NAR settlement world I believe sellers will require their Agent to handle showings to unrepresented buyers.

Which is what they should have been doing all along.. Not just going after listings and sitting around waiting for a deal to fall on they lap... And the Selling agent will have to attend all inspections, and prep the contract, etc etc etc...  

Time to earn that commission ... 

Andrew the Selling Agent actually represents the buyer, also known as the "buyer's agent" (I know it's confusing but that's how it is). So I think you meant to say that the Listing Agent (representing the seller, also called the "Seller's Agent", not to be confused with "Selling Agent" lol) should be doing the things you mentioned for the buyer, that a buyer's agent normally does? Why would a listing agent do all the work for a buyer that a buyer's agent normally does? Would they also be expected to do this for multiple buyers if there are multiple unrepped buyers offering on their listing? So as the listing agent if I get 10 unrepped buyers wanting to make offers on my listing on a Sunday afternoon with a Sunday evening deadline, I have to show them all the property, answer all of their questions, make sure they are all prequalified, talk to their lenders, and write up their offers? then how do I present all these offers fairly to my seller while serving all these masters who aren't paying me and still representing and maintaining my fiduciary duty to the seller? Not possible. I am not obligated to work for free for a bunch of buyers (many of which let's be honest are not even serious buyers and most are clueless about the transaction process) just because I have a listing.  

Regarding a listing agent showing a property to an unrepped buyer and potentially triggering what is called "implied agency": this is when an agent performs agency duties for a principle (buyer in this case) who they don't have a written agency agreement with, and establishes an agency relationship through their actions: https://www.prepagent.com/article/creating-agency-relationsh...

Hope that helps!   

Quote from @Andrew Lax:

How does showing a property to a potential buyer create an agency ?   That makes no sense... 

In this post NAR settlement world I believe sellers will require their Agent to handle showings to unrepresented buyers.

Which is what they should have been doing all along.. Not just going after listings and sitting around waiting for a deal to fall on they lap... And the Selling agent will have to attend all inspections, and prep the contract, etc etc etc...  

Time to earn that commission ... 

 I don't see how the seller's agent has to prepare the offer. That's the buyer's problem. Arrange inspections and visits? Sure. Present the buyer's offer (even if written on a napkin)? Sure. Represent the buyer's interests by designing an offer? Nope. Can't do it. Your fiduciary duty is to the seller, so you can't draft buyer terms of offer.