Wednesday, November 24, 2010

Happy Thanksgiving!

I had a repeat question that has been asked many times and in different forms. The question was about looking at just my/my office's listings.

FYI - looking at my listings are great, BUT there are other homes to look at. Why limit yourself to just my listings from my office? I think bigger, much bigger and so should you. If you where listing your home would you just want some buyers or would you want as many buyers as possible? You would want as many as possible. This is what I do for my clients.

Do Not limit your choices, I am hear to help you find the BEST match no matter who has the listing and no matter who the buyers are or where they come from.

School Lesson in Session:

Something to remember are the issues with "Agency".

If an agent has a listing their first job is to represent the Seller foremost.

If an agent has a listing and they also represent the buyer on the same house, they are in a situation where they have what is called "Dual Agency." This means they represent the Buyer and the Seller on the same home. Keep in mind that who ever they started with first has first position and the agent is required by law to represent that person foremost.

This does not apply to a Seller who has an agent help them sell their current home and then helps them (the Seller) find a new home to buy. This situation is fine unless the agent represents their current client plus they represent the new Seller on the new home purchase too.

A couple of ways to remove this obvious conflict of interest is for the listing agent to suggest another agent from their office represent the Buyer (you). This helps with conflict and the Agency stays the same as Dual Agency (because the agent is from the same office) but without the conflicts present when one agent represents both the Buyer and the Seller

I cannot even begin to count the amount of buyers who in hindsight feel they got less than adequate representation because they demanded to only work with a listing agent even after the agents suggested another agent to help represent the Buyer.

The perks of working with a listing agent do not always outweigh the possible problems.

If you demand to only work with a listing agent - PLEASE be aware.


An example ( albeit a bit funny) of having a seller's agent represent you as a buyer is kind of like if you where getting a divorce and you figured you would use your partners attorney that is coming after you in the divorce because you think it will save time and money.

Do you think you would get your best representation?


Just some thoughts to consider, because you are a very smart person and I always want to be sure I share with you the best possible options to help you as a Buyer, Seller or even BOTH!

Real Estate does not have to be a bad experience. Going into a purchase contract or a listing contract does not have to feel scary. Once you understand what I am prepared to do for you and how the contracts help protect everyone. The contracts makes for a smoother, better, and safer Real Estate transaction for everyone.

You would not buy a $30,000 car unless you had some sort of contract in place, why buy a $300,000 up to a multimillion dollar property without the same if not better protection in place as well?


Happy Thanksgiving!

Eat well, Drive safe and enjoy the time with friends, family and loved ones.


Sincerely,


Ken Webb


Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@me.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

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