Here are Inman News’ top comments of the week, reader insights taken from across the site and compiled by the editorial staff.
Eve Alexander · Commented on Where should real estate agents draw the line with listing clients?
I exclusively represent buyers and do not list property; however, these issues come up on both sides.
This is my opinion…just like the agent said that the one seller expected them to pay for the contractor. Consumers think that real estate agents make too much and have disposable money.
Why is that? Because agents are the first TO OFFER to cut their commission/ and or pay for something. When there is a 10 cent dispute between the seller and the buyer the listing agent’s standard remedy is to pay the difference.
I stretch and do all kinds of extra services for my buyers…except pay for anything. A hotel room, OMG NO!
Commissions are paychecks that should be untouched. Extra services outside of fiduciary duties, need to be negotiated at the time of the request.
Hunter Church · Commented on The 100/0 split: How Big Block Realty Grew 7,613%
Sounds like they’ve started a great company! I could see this being a fantastic fit for many agents I know. I am with Keller Williams, and I see tremendous value in paying around $23K (depending on your individual Market Center) a year for what they offer, so I personally wouldn’t switch to this firm.
To my fellow KW agents, before bashing an idea you may not fully understand, think of how you sound. This is what other agents say about KW whenever profit share is brought up. Gary Keller asks us to find ways to disrupt our marketplace, particularly during a shift, and Big Block sounds like they’re doing it.
“Fear or faith, you choose.” Don’t let another’s company success diminish your own. Great competition makes us all better in the end.
Jessie Teehee · Commented on How to deal with buyer clients making lowball offers
Well-written, only written from a non fiduciary perspective. As a representative of the buyer, it’s my job to get them the best deal possible – price, terms etc – and often times that means a lowball offer. One never knows the sellers situation and why have the buyers pay full price when they could have gotten it 5 to 10 percent below?
Sara Dreyer (responded to Jessie Teehee) · Commented on How to deal with buyer clients making lowball offers
I agree somewhat – as a buyer’s agent my job is also to get them the house they want – if they piss the seller off right out of the shoot they will likley end up paying more for the house than if they had made a reasonable offer to begin with, if they get the house at all. I dont think anyone is advocating having a buyer make an offer at list or close to list if the comps don’t support that. The clients I work with know that I will work to get them the house they want a fair price – if a buyer is only interested in finding a home they can “steal” then I don’t work with them.
Brad Bergamini · Commented on Is it illegal to discuss commissions on social media?
I agree with the statement but what is the cost of having to defend your actions from the DOJ and what is the main reason for discussion of commission? It is usualy to provide distaste for a broker that charges less than what you would find acceptable. Commission discussions on social media at best is just distasteful at worst you will find yourself in court. I’m not seeing the upside, so I just stay away from commission talk.
Linda Byrne · Commented on 5 red flags that can kill a deal
There are so many tiny red flags that are specific to the actual clients. Like, when your clients, who always wanted to see you in person for every step to discuss what’s next, suddenly want to discuss everything over the phone instead. Everyone has a different “tell.”
Editor’s note: Some comments have been lightly edited for clarity.