The Money Magazine article sure has brought out some discussions and stories. Here’s one that raises my blood pressure…
A listing agent was contacted by a Buyers agent saying they had a client interested in looking at their million dollar listing. The Buyers agent told that listing agent that they would not “push the home” unless the seller raised the amount of commission they would receive by 33%.
I would love to call of up these Buyers and tell them they have a really, really, really BAD agent representing them but I’d put my licence in jeopardy if I did. This agent is looking out for themselves, not their clients. I feel embarrassed for the Realtor industry when I hear stuff like this.
People ask me why do I offer so much information on my website as I’m giving away a service that Realtors get compensated for. I look at it differently. Yes, offering information is part of a Realtors service and before the Internet, Buyers and Sellers had to rely solely on their Realtor for the info that they can get through SloCountyHomes.com today. Some Realtors (like the BAD agent above) would restrict the information that was given to a Buyer so they could steer the Buyer to the home that made them the most money, which is what the Money Magazine article is all about. I look at my website as if I was a Buyer. I put information on my website that I would want to have access to when I was looking to buy a home on the Central Coast. I provide this information for Buyers during their research phase so they can become more educated on the market and available homes. If I was going to execute a million dollar transaction, I would want to be as knowlegeable as I could be. There are things that you can’t get from an Internet site which is why you need the assistance of a professional Realtor. Things like knowing the history of a neighborhood or getting a good home inspector that has inspected other homes in that subdivision are very valuable pieces of info.
While my website is able to help with the research phase, a Buyer is at risk in picking a Realtor to help them the rest of the way. They may end up with the really Bad agent from the above story. While the Buyer wouldn’t have to depend on that agent to tell them about properties on the market since they can see them on SloCountyHomes.com, there are many important services that they will still need from a local Realtor.
So, how can you pick a Realtor that is one of the Good ones? Well, you won’t find any credible Realtor giving you a list of the bad ones since the Realtor Code of Ethics prohibits us from giving this information but if you’re in the business, you know who the good Realtors are. Stay tuned as I believe I have the solution and will be annoucing it soon….