misleading real estate agent ad

[Anonymous]

In the Sun-Gazette in Arlington this week there's an ad on p. 19 for a real estate agent named Lou Sagatov of Keller Williams. It has a bunny coming out of a hat and blares "LIST YOUR HOME WITH ME BY JUNE 12 AND I PROMISE TO SELL IT IN 9 DAYS OR LESS OR I'll SELL IT FOR FREE."

There's a little asterick above "free" and when you read the small print it says "offer does not cover selling agent's commission or standard closing costs. Other conditions may apply."

Whisky. Tango. Foxtrot? What is "free" then in this case? Reasonable consumers would assume this is a solicitation to sell your home quickly or forgo the commission.

No, I don't feel like writing the agent to ask.

I do think the optics of the ad are hilarious. A bunny out of a hat? As in, this ad is literally an illusion?

[Anonymous]

Maybe he'll cover the staging and storage costs?

[Anonymous]

Anonymous wrote:Maybe he'll cover the staging and storage costs?

Interesting. Although I don't think that's "selling it for free." That's "i'll cover some expenses."

[Anonymous]

It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

[Anonymous]

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

[Anonymous]

George Sagatovs (a builder) relative? Does the relative build the house and another family member sell it? Yeah, it's a win win.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

Maybe he won't take his share of the commission, but KW still gets its share of what he'd get?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

Maybe he won't take his share of the commission, but KW still gets its share of what he'd get?

Ah, that could be it. Although that's still not "free." That's a pretty major asterick.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

No, they're not.

Listing agent = agent for the sellers.
Selling agent = agent for the buyers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

No, they're not.

Listing agent = agent for the sellers.
Selling agent = agent for the buyers.

PP here who originally brought this point up - if you were in real estate you would know this. The two sides split the 6% commission - the seller's rep is the listing agent and the person who brings the buyer is the selling agent. Typically the sellers agent who gets 3%, but the listing agent's fee can often be negotiated downward. In this case, he won't take a listing fee if you don't sell right away. But beware, he might list low to drive a quick contract.

[Anonymous]

He can't just decide to list low. The seller comes up with the price. If he thinks it is too high he can decline representing you but he can't just list it at whatever he wants.

[Anonymous]

Anonymous wrote:He can't just decide to list low. The seller comes up with the price. If he thinks it is too high he can decline representing you but he can't just list it at whatever he wants.

That's where the

Other conditions may apply

comes in. If you don't accept his suggested listing price, he'll say we won't honor the advertisement because he can't guarantee to sell your home by the 9 days.

[Anonymous]

Would you expect an agent to say "You pick the price and I'll sell it within 9 days"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It sounds to me like he won't take the listing agent commissions, but that you will still have to pay the selling agent commission.

listing agent and selling agent are the same thing.

No, they're not.

Listing agent = agent for the sellers.
Selling agent = agent for the buyers.

Look at that again and then feel free to correct your post.

Selling agent is not a buyer agent. It is a listing agent. As you said, the listing agent is for the sellers.

How on earth is a "selling" agent an agent for the buyers?

[Anonymous]

Agent here

The term "selling agent" describes the agent who "sells" the property to a buyer. It is how the buyer's agent is described in most sales documents.

The "listing agent" is the agent who sells the property on behalf of the seller. Again it is the term used in most document.