Sneaky Agents and a One Time Showing Commission Agreement

Have you ever received a phone call from a real estate agent claiming they have a buyer for your house and you should list your house for sale with them?

Or you start interviewing agents to sell your house and one of them says they already have a buyer who has been looking for just this type of property?

When hearing this, it is only natural to think this must be a really good agent, after all, they have a buyer in their back pocket ready to buy your house, right?

When this happens, here are some questions you need to ask.

1. If the agent already has a buyer and the agent is looking for a house for this buyer, then isn't that agent already working for this buyer? Who does the agent represent? Who will represent you?

2. There are a gazillion houses for sale right now and this agent can't find one for this buyer?

The first sign that something might not be right is when the agent asks you to sign a listing agreement. If the agent has a buyer then the agent doesn't need a listing agreement. They can show and sell your house to the buyer without a listing agreement. In fact, if they already have a buyer it means they are that buyer's agent and having you sign a listing agreement would be a conflict of interest.

Sometimes an agent really might have a buyer for your property. Here is how you can find out right away if you are dealing with an honest hard working agent or one of those sneaky agents.

All they need is a one time showing commission agreement. A commission agreement will say that you agree to pay the agent a commission if they sell your property during this one time showing. If they really have a buyer they only need to show it one time. Right?

Just like any other profession there are a lot honest hard workers and there are some bad apples. One of the tricks of these sneaky agents is to claim they have a buyer for your property. It is a strategy that works. You, the seller, don't want to miss this opportunity but at the same time you don't want to be taken advantage of.

They also don't need the whole commission . They only need 1/2 of the commission if they already have a buyer. There will be no marketing costs. After all, if they find a property for "their" buyer in the MLS they will only get half of the commission so why do they need a whole commission to sell your house to their buyer.

Choosing an Agent

Value Guarantee - What other company is willing to guarantee their home evaluations?
Easy Exit Listing Agreement - If you think you made a mistake choosing Shore Realty, we don't lock you into a listing you don't want.
Feedback - Learn what other agents and their clients think about your property.
Commission - You choose how much you want to pay.
Electronic Signatures - easy peasy paperwork.
Rental Income Protection - see how we help protect your rental income.
Brand Name Realty - Not here.
Agents Buying Listings - The last thing you want to do is use price as the criteria for deciding which agent to use!
Sneaky Agents ....learn to protect yourself.

Pricing

What's Your Property Worth? What the neighbors say is usually wrong.
Chasing The Market - Easy trap to fall into and expensive.
Absorption Rate How long to get rid of existing housing inventory?
Market Value What is Fair Market Value?
Fair Market Value - how fair is fair?
Competitive Market Analysis - You will be provided with a complete Competitive Market Analysis showing you just how your house compares to others in the same neighborhood. Sign up HERE

Marketing

Print Advertising - Your property will receive unprecedented continuous exposure every month it is listed for sale. Your ad will appear every month in the Homes and Land magazine, instead of the typical ad rotation.
Virtual Floor Plan - Each residence is measured room by room for a concise virtual floor plan with lots of inter grated pictures of the property for a true Virtual Tour and not just a slide show of pictures.
Maximum Internet Exposure - Your property will be exposed to millions of people on 30 national real estate websites and with 8 news organizations including ABC, FOX, New York Post, Washington Post, New York Times and Cox Media.
Professional Photography - Don't let your house languish on the market because of poor quality pictures. Too many listing agents treat photos like it was still the last century. Pictures sell real estate!
Lock Boxes - Electronic lock boxes provide 21st century access.
MLS - Your property information will be entered into the Multiple Listing Service, including color photographs of the interior and exterior of the house, if applicable.
Open Houses - If the first Open House has a good turn out we will follow up with more.
Reverse Offer - Backwards real estate.
As Is - Is this the best way to get what you want?

The Offer

Low Offers - Blessing in disguise!
Loan Contingency Protection from flaky buyers.
Counteroffer What to do after the offer comes in.
Earnest Money Deposit Who gets to keep it.
Due Diligence You won't believe how the state treats sellers in the new Offer To Purchase.
Time is of the Essence Hurry up and get in line.
Emotions - Don't let them get in the way.

The Closing

Advanced Rental Deposits Who gets the money?
Out of State Sellers do not need to worry.
Closing Costs - How much more will it cost?
Utility Transfer Lastly, let's get rid of those utility bills.

Not Ready Just Yet? Home Selling Articles

Sold Update - Receive automatic email updates when a property sells in your Neighborhood!
Home Warranty ....while your property is for sale.
Buyer Agency And You The Seller
Termites - Save $500 or more on the sale of yurt house!
Tips For Selling
Do Not Call Stop the annoying phone calls.
Home Inspections - should you get one?
Working With Real Estate Agents explains agency and is required reading by the state of North Carolina.