All Forum Posts by: Chris DeTreville

I would like to see if someone can help me with this question I have. I realize agency relationships may be different in different areas but the same basic rules should apply here in this case.
I have a seller who was trying to negotiate commission with me on a listing. 6% is the going rate. Well, in the meantime, I find a potential buyer who is looking for the exact house/price range/condition/etc. So I'm thinking I could just bring this buyer to the seller, and ask the seller to pay me 3% using a compensation agreement. In other words, I would not list the house. The compensation agreement that I would use from my local Realtor association basically says that the seller is treated like a FSBO and that I would represent the buyer. Here is exactly what that one paragraph says;

"It is understood and agreed to by all parties that (salesperson name)_______ and (real estate agency name)___________are acting as an agent solely representing the buyer in this transaction (buyers agent) This form does not create an agency relationship in accordance with SC code of laws 40-57-139"

So I am a little confused by the language. I have never met these buyers, and may not ever meet them. I have only talked to a contractor who the buyers know-who will be doing the rehab. They are out of towners doing this for their kids who will be attending college next fall. Basically my question is, do I have to represent them? It sounds like I become the buyers agent, but then it says there is no agency relationship created....what fiduciary duties would I owe to the buyers if any?

I had a mother of a college student call complaining because we told her the house was cable ready (meaning there were cable lines already installed-and trust me, we explained to the daughter what utilities were included in the price and what wasn't) and she was very distraught when she connected the line to her tv and got static. She assumed that since the line was already there, that the cable service was free.

hmmm. If it hadn't been sitting on the market so long I'd say a $150 reduction is unreasonable. But 150 days is a long time. If $800 doesn't cover the owners expenses, maybe they just don't want to commit to losing money for 2 years guaranteed...hoping that they can get it rented soon and cover their costs. But again, they've already lost about 5 months to vacancy. I've seen owners refuse to accept lower offers after the house has sat unrented for months for that very reason...but I've also seen owners cut their losses and accept lower bids to stop the bleeding.

Lanita Woods how much was the original rent and what was your offer? That may help answer some questions.

I had a "nice" lady call me and ask me what we looked for in the application...I told her...credit, income, rental history, background...and she got hysterical. She told me "you are the reason people go homeless"

I started to explain to her how business and really life in general worked, but then I realized it would do no good, and just said "ok" and she hung up. She's still out there somewhere, blaming other people for her mistakes so beware.

We get "bad" google reviews like this a good bit. Most are disgruntled ex-tenants who didn't hold up their end of the bargain. Here is an excerpt from one we recently got....

" Beware when you sign a lease with them...there is no getting out your lease early. If you decide to still leave early you are responsible for the rent for the remaining lease term and you lose your deposit."

uh...kinda the point of a contract, yea?

http://www.11alive.com/news/article/241310/40/Judge-allows-pit-bull-biting-case-against-dog-owners-landlords-to-go-to-trial

http://bostonherald.com//news_opinion/local_coverage/2009/10/court_landlord_can_be_sued_pit_bull_attack

http://www.opposingviews.com/i/society/animal-rights/maryland-appeals-court-holds-landlords-owners-pit-bulls-liable-attacks

My ex-wife didn't like the site either. One day right out of the blue she sent me a john deere letter. She gave me a bunch of crap about me not listening to her or something...I don't know...I wasn't really paying attention.

No.

If you are risking your life by getting in a dogs "personal space" as one poster put it...then you should probably re-evaluate your choice to own the pet.

Also, if a yorkie attacks a child it may leave a scar, when a pit attacks it can easily mean death. Quite a difference. A 65 year old lady was killed by her sons pit just this week in South Carolina. She was babysitting her grandchildren, and the pit (who the owner claims was the sweetest dog, never any problems etc) attacked her and killed her. Out of the blue. She had been around the dog many times before.

Oh yea, and as a landlord you can be sued...so no, no,no.

Marc Bodinger no I don't have any numbers to show how successful it is...it depends on the time of year and stuff...we have a lot of stuff close to USC so I'd say those turnover at a fairly high rate with very little vacancy if we have a few weeks to show it occupied. But in my opinion I've seen enough rentals turn over without having to sacrifice a month of vacancy to make showing it occupied well worth the hassle.