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#108233 - 12/17/05 06:50 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
Quote:
I get paid before I even search the mls.
You do? If you get paid your commission up front you must really be special!
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108234 - 12/17/05 06:56 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Posted by Godzilla

"...I get paid before I even search the mls..."


I would never do that to my client... I perform, or my services are free... Haven't worked for free yet...

What do you do if you accomplish nothing? Keep it and hold them to a contract like HouseValues?
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

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#108235 - 12/17/05 06:58 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Quote:
You do? If you get paid your commission up front you must really be special!
It's called a buyers agent compensation agreement. I get it signed before I even tap into the mls. You see how this works?

What i get paid and what it says in the mls can be greater or less.

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#108236 - 12/17/05 07:00 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Orange, no I don't put a gun to the buyers head to get paid. The representation contract you sign with your client is basically a "purchase order" due and payable upon delivery of goods...aka..a house they can buy.

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#108237 - 12/17/05 07:00 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Quote:
Originally posted by gawdzzzla:
Quote:
You do? If you get paid your commission up front you must really be special!
It's called a buyers agent compensation agreement. I get it signed before I even tap into the mls. You see how this works?

What i get paid and what it says in the mls can be greater or less.
Whatever jabber
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

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#108238 - 12/17/05 07:03 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Hey you're more of a jabber than I am. Read your disclaimer. LOL

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#108239 - 12/17/05 07:03 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
I meant Jaber, oopps!
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

Top
#108240 - 12/17/05 07:10 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Quote:
Originally posted by Orangecrest:
I meant Jaber, oopps!
Huh?

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#108241 - 12/17/05 07:12 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
Quote:
It's called a buyers agent compensation agreement. I get it signed before I even tap into the mls. You see how this works?
Naw! Really? Now when did they invent that? laugh
Honey, I hate to break it to you, but getting that signed and getting paid is two different things. You said you got paid before you even searched the MLS. No, big difference.
If you are relying on that, I want to see you try to collect on it when your buyer flies away to another agent.
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108242 - 12/17/05 07:16 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
""""If you are relying on that, I want to see you try to collect on it when your buyer flies away to another agent. """""

It's called a contract for a reason and works just like a listing contract. Maybe your clients don't take you seriously? If you knew they invented contracts why aren't you using them?

You might need some training from your broker on how to use them properly.

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#108243 - 12/17/05 07:28 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
No, it does not work like a listing contract. A listing contract is enforceable by lien (in my state), a buyer's agreement is, or may be, or may not be enforceable by the court if you wanted to spend your commission in legal fees, which wouldn't be very smart. A contract, in theory, just attempts to keep people honest, especially a buyer agreement. If that works for you, good; I hope you continue to have a long and prosperous career.
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108244 - 12/17/05 07:32 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
Quote:
You might need some training from your broker on how to use them properly.
LOL---I will go in the office Monday and say "well, I know I have been in the business fifteen years, but do you think you can train me now?"
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108245 - 12/17/05 07:46 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
"""""""""well, I know I have been in the business fifteen years, but do you think you can train me now?"""""

I know sometimes it's easier to train someone new than untrain someone with as much experience as you. What's that old saying...you can't teach an old dog..????

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#108246 - 12/17/05 07:56 PM Re: assist 2 sell or 1 percent realty?
amplet Offline
Veteran Member

Registered: 08/10/05
Posts: 844
Loc: MN
Originally posted by gawdzzzla:
"""""Originally posted by amplet:
[QB] gawdzzzla, by the way, what do you call a listing in the Minneapolis market with a 1.5% payout?"""""""

If you are in the minneapolis area you'd know about a company called Eagle Realty. They've been offering 1.5% for years now and houses are selling like hotcakes.*********

Actually I just pulled a report off the MLS, and Eagle Realty currently has 161 Active listings, and all have a payout of 2.7%...Every one, and their deal around here is "3.99% selling fee".

Also they have sold 233 homes in the past 6 months and all but 3 were at 2.7% payout. The 3 were listed at 0% payout.

I'm going to refrain from voicing my opinion about that because it is not ethical to do so. I just wanted to correct some mis-information.

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#108247 - 12/17/05 08:14 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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