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Reply to "agent recommends not asking questions to sellers"
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[quote=Anonymous][quote=FruminousBandersnatch]Your agent represents you. Your agent should be following your directions and communicating your questions to the seller. [/quote] Not necessarily so. Because the laws of agency aren't understood by many, For years, the Seller's agent (percent) and the buyers' agent would divide the 6 percent on the sale of the house and divided it more or less equity. All agents in this scenario wanted the deal to go through because they had a vested interest in it (the commisson). About thirty years ago, enough people had griped, so it was agreed upon that you can hire a "buyer's agent" (fee, or the regular percentage of commisson) and that agent worked exclusively you. In other words, your agent should try to get you everything you want. This is not the case in traditional transaction, where 6% came off the seller's side and was divided between the two agents. Some smart people said "Hey, that's not fair - most new purchasing families don't know that. Hence the "buyers's agent" evolved (which is what I would do if I were selling my out. So, OP, do you know ifyour agent is a "Buyer's AGent" (you should have filled out forms for that) or is he really the seller's agent pushing to make a deal go through. If he gives you any shit; drop him. Explain in writin to sellers precisely why - he hadn't notified you of anything having the law of agency; you didn't know that it was the seller who gave the 6%; and you are concerned that your interests are not being met. Perfectly fair. And, yes, PP is correct (learned this in real estate school while trying to pass the exam: every single offer (no matter how low,how hardball)MUST be presented to the seller. Hope you get this settled.[/quote]
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