• Variable Rate Commission

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 1,148 other followers

  • Prophecies Fulfilled Exodus to Deuteronomy

    Prophecies Fulfilled Genesis

  • DMCA Notice


Buyer stops looking after viewing 60 homes

On the subject of what could possibly go wrong in Real Estate, this is a problem which happens to almost every agent.  In my case I showed about 60 homes to a couple who stopped looking.  I found out they purchased a home from another agent.  In this particular case we had a Buyer Agency Contract, which would allow me to collect my commission from the buyer even though they purchased the home from another agent.  Of course I explained the entire contract to them and one of the buyers just graduated from law school, which made me almost want to collect my fee.  But as time will tell, things  like this have a way of working out themselves.

Actually this has happened a few times.  The result is always the same.  Buyers figure they want to stop at an open house.  I give them a few extra cards to pass along to the agent showing the open house and in most cases exhibit a form of professional ethics.  As with every business there is a small minority who, for lack of a better term, think nothing of burning bridges or those on them.  Then comes the phone call.  Buyers calling the Agent they feel they can trust.  They find out the Agent writing the contract represents the Seller.  Then they realize, I have a Buyer Agency agreement with Dennis and he represents me.  All I can say is, “I cannot not provide legal advice, and it is illegal for anyone to comment on a contract they are not a party to.”

The each time this happened the problem involved inspections.  On the first, the Agent wrote up a contract waiving the right to an inspection.  On the second the Agent wrote up a contract with a very short time limit on the inspection.  The Agent representing the Seller did not tell the Buyers the Inspection Contingency expired the day the property was inspected.  The next day the Inspector send them the report.  The Buyers call the Agent with a list of items to address.  The agent tells the Buyers they waived the right to an inspection by not acting quickly enough.

Now what would make these people think a smooth talking salesperson is going to look after their interests when they have no guilt about taking a hard earned commission away from a fellow Agent?

The lesson in this is; find an Agent you can trust, communicate with freely, listens to your concerns, has seen the problems which can occur and has a plan to avoid them.  Stick with that Agent and work with them.   It is all common sense.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: