Timeline for What fiduciary responsibilities do real estate agents have for a buyer?
Current License: CC BY-SA 4.0
11 events
when toggle format | what | by | license | comment | |
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Feb 6, 2023 at 18:54 | vote | accept | Digital fire | ||
Feb 2, 2023 at 14:42 | comment | added | jwh20 | @user71659 No, you misunderstand me. Yes, buyers are usually working with an agent but this agent is actually working for the seller. A "buyer's agent" is a different thing. | |
Feb 2, 2023 at 9:44 | comment | added | KFK | I would question the factual premise that estate agents have an incentive to push for a higher sale price. My anecdotal experience in Paris, France, is that estate agents try to maximize profit by having a quick turnaround rather than playing hardball with the buyers. That means pressuring both the buyer ("make a good offer else you’re wasting everyone’s time") and the seller ("I don’t think we will get a better offer"). Any offer will be passed to the seller, even if low (some chance that the seller accepts, and even if they don’t, it might push them to accept a later low-ish offer). | |
Feb 2, 2023 at 3:49 | answer | added | ohwilleke | timeline score: 0 | |
Feb 1, 2023 at 23:41 | answer | added | Dale M♦ | timeline score: 1 | |
Feb 1, 2023 at 22:19 | comment | added | user71659 | @jwh20 Most buyers have an agent. It doesn't cost the buyer anything, they aren't "hired" but more accurately "engaged". Not having a buyer's agent doesn't save the buyer or seller money since in most cases, the selling agent charges the same commission. Further, the selling agent is limited in the amount of assistance or advice they can provide to an unrepresented buyer, as it represents a conflict of interest. | |
Feb 1, 2023 at 18:37 | answer | added | user6726 | timeline score: 0 | |
Feb 1, 2023 at 18:30 | comment | added | Digital fire | @jwh20 The agent for the buyer. | |
Feb 1, 2023 at 18:04 | comment | added | BlueDogRanch | Probably better here: money.stackexchange.com/search?q=fiduciary+real+estate | |
Feb 1, 2023 at 17:57 | comment | added | jwh20 | Do you mean specifically a "buyers" agent or just an agent? In most cases an agent represents the seller even if they are working with the buyer. Some buyers choose to hire a buyers agent to specifically represent them. | |
Feb 1, 2023 at 17:52 | history | asked | Digital fire | CC BY-SA 4.0 |