Re: Dealing with a realtor?
From: Moz (listmoz.geek.nz)
Date: Mon, 26 Jan 2015 21:31:45 -0800 (PST)
Leah via Cohousing-L said:
> defaults to "willing to work with a buyers agent"

One huge caveat: in Australia at least the "buyer's agent" works for
the buyer, and should be paid by the buyer. They're not your friend,
and definitely not your employee. Over here I'm not sure it's even
legal to act for both sides like this (solicitors etc definitely
can't). Their job is to find what the buyer wants, and they answer to
the buyer for that. So normally they're even worse than real estate
agents as far as the vendor goes. In this case, it sounds as though
they have scammed you out of 2.45% up front, plus whatever the buyer
pays them. In your position I would mention that fee to the buyer and
explain that it will naturally be added to your asking price.

This is exactly parallel to a real estate agent asking the buyer for a
fee oon top of what they collect from the vendor they're employed by.

At the very least I'd be asking "exactly what service will you provide
for me, and also I need to see your contract with the other party".

Moz


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