As a buyer, they presented me with the typical exclusivity agreement, stating that I’m responsible for “guaranteeing” they are paid 3% commission. It was explained that if the seller only offers 1.5 I must pay the other 1.5 out of pocket. Do they really think buyers will agree to 3k per 100k of house for basically showing a house they will find online? Oh lort they got some pain coming their way
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If your agent can’t explain to you why they are valuable well beyond finding a listing to show you, they don’t deserve that commission at all.
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Just bought w/o an agent. Absolutely worth it. Did the work myself and saved myself thousands of dollars. Maybe not for everyone or maybe not as a first time-homebuyer, but in my case it was a no brainer. Was buying a second unit in the same building.
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This is good. Either buyers will be proven right that Realtors were useless, or droves of buyers will get swindled and Realtors will be right, but in either case we can put it to bed.
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I would refuse to hire them and they would not get a second chance. Where I live, everyone and their grandma is an agent, many very experienced. You can’t even mention the words “buy a house” where I live without getting SWAMPED.
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Just buy without an agent. You don’t need one. Title companies and lenders do most of the hard work. It takes 15 minutes to write a contract. If you’re not comfortable writing the contract, a lawyer should be able to do it for an hour or two worth of time. I’ve bought 4 houses without an agent. It’s not hard and is in many ways easier as it cuts out an unneeded middle man.
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Offer him just a small flat fee. They are all blood sucking leaches. I recently sold my house privately. I had people calling me day and night as Buyer agents. My VM said i do not need help selling. Do not leave me a voicemail unless you’re a buyer. No agents needed. One got pissed because I told her no and hung up on her. She left me a 2 minute VM rant lol. I called the Broker she works for and explained the situation. He asked me to email him the VM. I hope the bitch got fired.
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Yup. Some folks are about to get a real wake up call. The days of cruising through life as a buyer’s agent are over.
Not to mention now hiring a real estate lawyer to help you with your due diligence, negotiating, and closing starts to make much more sense than an agent. A decent lawyer for $5-10K flat fee versus a buyer’s agent for triple the cost. That’s a simple decision.
Everyone is missing how unethical this is, their job is to support their buyer. If the house fits the criteria of the buyer, who are they to say they won’t show the house? This is literally why the lawsuit was filed. Scumbags.
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