I made a stupid mistake trying to sell this house

[LinvilleGorge]

I really hate the dual agent double dip. If he starts trying to get you to lower the price for this buyer tell him to go fug himself and take it feel free to take it out of his commission if he wants this buyer to have the property so badly. The danger for you as a seller in this dual agent scenario is that your realtor is still going to make a lot more money selling your house to one of his clients for well below list than he would selling it to a client that isn't one of his for well over list.

It's one of the MANY reasons why this practice should be outlawed. There's massive conflicts of interest involved and there's no way the agent can represent either client to the fullest.

[jasonluckydog]

I have written so many reports about people getting scammed by Venmo. Do not pay with Venmo ever unless it's for your prostitute or drug dealer. 

[Paa Langfart]

If that poo dont work

 

 

[Cullenator]

fug dual-agency.

Seriously you need to get a new agent.  There is no way one person can fairly and professionally represent both sides of a negotiation.

[Ja Rhule]

10 minutes ago, Cullenator said:

fug dual-agency.

Seriously you need to get a new agent.  There is no way one person can fairly and professionally represent both sides of a negotiation.

Yep, this.  I have a realtor and I know he would always get my side cause I already used him for 3 other homes.  Realtors roll with the hand that feeds.  If you are using this realtor for the first time and the other party is not, you are in disadvantage.

[thefuzz]

4 hours ago, Cullenator said:

fug dual-agency.

Seriously you need to get a new agent.  There is no way one person can fairly and professionally represent both sides of a negotiation.

Sure there is, but "both sides" will have to remove any and all emotion.

To the OP.

Do not pay anyone for anything via Venmo.  Period.

If the buyer wants a "no mold" cert, then they need to pay for it.  Not your job.  Stop trying to do this quickly, do it correctly.

[thefuzz]

16 hours ago, LinvilleGorge said:

I really hate the dual agent double dip. If he starts trying to get you to lower the price for this buyer tell him to go fug himself and take it feel free to take it out of his commission if he wants this buyer to have the property so badly. The danger for you as a seller in this dual agent scenario is that your realtor is still going to make a lot more money selling your house to one of his clients for well below list than he would selling it to a client that isn't one of his for well over list.

It's one of the MANY reasons why this practice should be outlawed. There's massive conflicts of interest involved and there's no way the agent can represent either client to the fullest.

It has it's places...this is likely not one of them.

I'm not a fan of it, and it happens so very rarely in normal transactions, but like always some will take advantage.

 

[Cullenator]

7 minutes ago, thefuzz said:

Sure there is, but "both sides" will have to remove any and all emotion.

To the OP.

Do not pay anyone for anything via Venmo.  Period.

If the buyer wants a "no mold" cert, then they need to pay for it.  Not your job.  Stop trying to do this quickly, do it correctly.

A Buyers Agent should be concerned with getting their client the best possible deal on a property while exposing and addressing anything that could potentially "bite their client in the ass" down the road.

A Sellers Agent should be concerned with getting their client the highest possible price for a property while minimizing (within the law) anything that could cause a buyer to offer a lower price.

 

Those two things are fundamentally at odds

 

I bought a house once where the realtor was attempting to represent both sides and the seller got bent over and fuged dry.

[t96]

22 hours ago, cardiackat88. said:

I am trying to sell my house and move my family overseas by March.

Somehow, a rumor about mold being in our house started in this small town. We have the suspicion a realtor started this after we did not chose them as our realtor.

Our relator has someone on the hook to buy the house, but we could not get ANY one to come and test it and/or look at it. This realtor wanted us to get some 
"certification"  to prove there is no mold in the house.

We finally did, and they have been extremely unprofessional. They were supposed to "remediate" our mild.

I am not sure wtf they are doing to be honest.

I just know they have not produced one single document to sign before they started, and the dude asked if could pay $5,000 through venmo.

They are supposed to come back tomorrow and "finishing" but I am sure they are just going to grab their stupid blower and ask for payment.

I am not sure wtf to do. I am not paying $5,000 for this "job" and I need this stupid phantom "mold certification".

 

Sorry no advice, I've never had to deal with any mold situations...

But this sounds just like the King of the Hill episode "After the Mold Rush."  May be a con like in that episode

Edited January 17, 2023 by t96

[thefuzz]

19 hours ago, Cullenator said:

A Buyers Agent should be concerned with getting their client the best possible deal on a property while exposing and addressing anything that could potentially "bite their client in the ass" down the road.

A Sellers Agent should be concerned with getting their client the highest possible price for a property while minimizing (within the law) anything that could cause a buyer to offer a lower price.

 

Those two things are fundamentally at odds

 

I bought a house once where the realtor was attempting to represent both sides and the seller got bent over and fuged dry.

I've been in the business for 20 years...I'm aware of the roles of agents.

Like I said, it's rare that dual agency is needed, but it can absolutely be done, and fairly by agents...if they are professionals.

Commercial, Land, Developments etc...dual agency isn't a big deal....and sometimes in personal use it's not a big deal...but again, emotion has to be removed.

I'd prefer not to do it, but it's not the evil that some are claiming.

[LinvilleGorge]

Professionalism or not, it's an impossibility to represent the best interests of both parties in a transaction where both parties are seeking to get the best possible terms in the deal.

[thefuzz]

17 minutes ago, LinvilleGorge said:

Professionalism or not, it's an impossibility to represent the best interests of both parties in a transaction where both parties are seeking to get the best possible terms in the deal.

No, it's not...especially if both sides have the "deal" they want already.

Me:  "He's willing to give you 3.5M for the property, can close in 20 days, and is a full cash offer."

Seller:  "Write it up."

I don't work with folks "looking to get the best deal possible".  I work with folks who want to buy and sell real estate.  Again, gotta lose the emotion, this shouldn't be done with Jack Realtor from Century 21, but it is common in this world.

P.S. I would never recommend someone buying or selling their personal home to do this unless they too are in the biz.

 

[LinvilleGorge]

4 minutes ago, thefuzz said:

No, it's not...especially if both sides have the "deal" they want already.

Me:  "He's willing to give you 3.5M for the property, can close in 20 days, and is a full cash offer."

Seller:  "Write it up."

I don't work with folks "looking to get the best deal possible".  I work with folks who want to buy and sell real estate.  Again, gotta lose the emotion, this shouldn't be done with Jack Realtor from Century 21, but it is common in this world.

P.S. I would never recommend someone buying or selling their personal home to do this unless they too are in the biz.

 

So on the case that the realtor is just a leech on the deal and doing nothing but pocketing his commission it's possible.

Sure. Agreed. Simply because the same thing would've happened without realtors involved at all, minus 5-6%.

[thefuzz]

10 minutes ago, LinvilleGorge said:

So on the case that the realtor is just a leech on the deal and doing nothing but pocketing his commission it's possible.

Sure. Agreed. Simply because the same thing would've happened without realtors involved at all, minus 5-6%.

No.  When you are specialized people call you to put them in touch with the folks who are selling said properties...typically vacant land, or properties with multiple rentals on them.

When this happens I prefer not to enter into dual agency, one party just remains unrepresented...but it does happen especially in niche areas of real estate...which is where I operate.

As to the leech thing, you go try to sell 150 lots to a builder or developer without an experienced agent involved and see how you come out.  Could be great, could lose a LOT more than 6%.