Rob Hahn and I had a conversation about the state of buyer agency – which might only interest realtors, if anybody – but we also got into the idea of home auctions too:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
Let’s point out the every day treatment of buyer-agents in the frenzy era:
1. On the good listings, the listing agents want some evidence of the buyer’s ability to purchase JUST TO SEE THE HOUSE. It’s understandable to request those items when submitting an offer to purchase, but just for a tour? I guess it might be attributable to not wanting to discriminate, so let’s treat EVERY agent like crap and suspect their buyers aren’t qualified to buy. I guarantee you that some sellers have left money on the table because some affluent buyers didn’t want to show their underwear just to see a house.
2. Once buyer-agents clear that hurdle, then they have to squeeze through the eye of a needle for showing times – and you better hurry because they are limited and you might get shut out. I’m amazed every day by how many listing agents insist on putting in their remarks, NO MORE SHOWINGS to rub it in to the buyer-agents who didn’t get to compete – and whom may have had the best buyers. Why would you exclude qualified buyers? It is beyond me, but it is being done every day.
3. If a buyer-agent somehow clears those two hurdles, you still have to hope that the listing agent doesn’t quick-sell it, like what happened to me this year when my appointment to show was on Sunday, and the listing agent round-tripped it on Saturday…..for a measly $25,000 over list.
4. Ok ok – you’ve gotten to show the house, and your buyer wants to make an offer. Is their any transparency in the process? NONE WHATSOEVER. Just make a blind offer and good luck. You can’t even include a love letter any more!
5. And you better kiss butt with those listing agents too. Because the listing agent plays a major role in who the sellers ultimately choose as buyers, there needs to be positive influence from the buyer-agents.
6. A few days later, the buyer-agents get a brief text that they lost….again….with no other information to share with their buyers on how to ease the pain.
Rinse and repeat.
Why would buyer-agents want to put up with that much longer??