Category Archives: dual agency
HB 1907 – Agency in Virginia, Disclosures and More
The bill has unanimously passed the Committee and the House of Representatives . 
Discussing the perils of single agent dual agency has long been my windmill; while not perfect, this bill clearly is a step towards representation .
…That following the commencement of dual standard agency, the licensee will be unable to advise either party as to the terms, offers or counteroffers; however, under the limited circumstances specified in subsection C, the licensee may have previously discussed such terms with one party prior to the commencement of dual standard agency;
…That the licensee cannot advise a buyer client as to the suitability of the property, its condition (other than to make any disclosures as required by law of any licensee representing a seller), and cannot advise either party as to repairs of the property to make or request; 3. … That the licensee will be acting without knowledge of the client’s needs, client’s experience in the market, or client’s experience in handling real estate transactions unless he has gained that information from earlier contact with the client under the limited circumstances specified in subsection C; and 5. Continue reading
How Much is the Buyer Broker Fee?
That question is one of the many reasons that I choose to use Buyer Broker agreements with my buyer clients . (and why ending cooperative compensation would be a boon to the real estate world ). 1 – The Seller and the Sellers’ Realtor are going to do whatever they can (legally and ethically) to induce a buyer to look at the house … and hopefully buy it.
…(this argument becomes much harder when the seller has no or negative equity) – “It’s none of the Buyer’s business how much I’m being paid!” (as argued by the Buyer’s Agent who ostensibly is seeking to “represent” said buyer) Look, I’m not begrudging Realtors earning livings what I do encourage is for buyers to be aware of what may be going on behind the scenes. Continue reading
Prepping to Buy a House in Charlottesville
Now is the time when people really start to talk about these things in earnest, so here is the thing: if you’re thinking about buying a house, it’s a great time to buy! … But if you’re thinking about buying in the Spring: – now is the time to start researching. – Drive through neighborhoods, see how they’re decorated if that interests you or if it disinterests you. It’s good to know what you might be getting yourself into. – Start scouting things out, ask questions, search for homes and find a realtor (I am one) and start looking for vacant houses so you have a feel for what you’re going to see come Spring when houses come on the market. – Prices now are starting to moderate even more. … Start interviewing buyers agents , ask questions, because when you’re talking about interviewing buyers agents , you’re really talking about spending a lot of time with somebody who is hopefully going to be someone you like, trust, and is a professional who is experienced. Continue reading
Blog Wayback – Why Use a Realtor – Decoding NAR-Speak
In many markets across the country, over 50% of real estate sales are cooperative sales ; that is, a real estate agent other than yours brings in the buyer. … Your Realtor will generally prescreen and accompany qualified prospects through your property. a – I want to see that study. b – Allowing strangers into your home is the whole point of the MLS and lockbox system we use! Continue reading
Buy Local
We pay Realtor buyer agents commissions on the homes’ final sales price after all upgrades, selections and options are chosen and not pay on a “bogus” base price that is much lower than the final sales price, we love contributing to the Charlottesville area and market by offering a great value and quality product and we offer outstanding warranty, customer service and prompt follow-up. Some do not bank locally, they do not buy building materials locally, they do not us local subcontractors, they require buyers to obtain financing from their out of town lender, they do not like to work with Realtors and make every effort they possibly can to sell to the public directly, they pay Realtors on a “bogus” base price that is always much lower than the final sales price, they have very strict walk through policies as you described in your blog and do not encourage or allow buyer agent participation in the final walk through and offer very very minimum warranty and customer service follow up after sales. Continue reading
Wrapping Up Tuesday’s Radio Appearance
Is it that “experts” will tell you to hold the stock in hopes of it going up in value and then explain that those with homes worth less than their mortgages shouldn’t feel bad about breaking their mortgages and defaulting ? … … But – start here – Assessments, property taxes and shifting market values in Albemarle County The new bailout/foreclosure prevention bill – start here to educate yourselves – Calculated Risk This is intended to help “thousands” (a drop in the bucket unless it is several hundred thousand), and seems to encourage homeowners to stop making payments until they are 90 days late. and Rain City Guide This is the beginning of massive government intervention to try and slow foreclosures. Continue reading
Posts with Enduring Interest – Take Two – Just for Buyers
Choosing the Right Buyer’s Agent Proof that Gas Prices are affecting buyers in Charlottesville area A Cautionary Tale – Yet another Due Diligence Question for Buyers, Sellers and Realtors You’re Buying Your Monday Mornings Online Buyers’ Habits Changing Why take a Buyer’s Agent to New Construction? … Questions to ask your agent in Charlottesville – hiring representation should not be taken lightly Default Position – one of many posts written on the perils of Dual Agency – for the frequently unsuspecting Buyers but for the Realtor profession as well. Continue reading
Choosing the right buyer’s agent
Choose someone whom you trust and get along with and like – not just because you met them at an open house, or because they have a blog, or because they are your sister’s husband’s friend who is just getting started and needs a break. … 2) That house when they move (everybody moves, even if “this is the last house I am going to buy”) 3) At least one of their friends or family when my clients proselytize for me I work with Buyer-Broker agreements with my buyers for a variety of reasons – first and foremost because we negotiate my fee upfront, and I am free from the perception that I am not showing unrepresented sellers’ (FSBO) houses or those houses that are offering lower commissions in the MLS than many Realtors are used to. Continue reading
