Comments on: What Do You Think? Is This Seller Being Served? http://hobokenrealestatenews.com/2009/08/28/what-do-you-think-is-this-seller-being-served/ Everything buyers and sellers need to know about Hoboken condos and homes. Sat, 04 Sep 2010 01:29:52 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: JustBrought http://hobokenrealestatenews.com/2009/08/28/what-do-you-think-is-this-seller-being-served/comment-page-1/#comment-3706 JustBrought Wed, 02 Sep 2009 00:45:22 +0000 http://hobokenrealestatenews.com/?p=1937#comment-3706 I think the simple solution is like what David mentioned earlier, the dual agent should be paid a reduced commission or one commission (I support the reduced). A seller agent get pay for selling the house, whether he found the buyer or not still point to him doing his job. New Jersey should seriously consider follow some of the other states in allowing for agent to compete on commission. I just went in contract (not with Lori due to us not being able to find what we want in Hoboken on our budget, sorry Lori), the agent that we decided to put down on the contract because she was close to the listing address (poor choice, I bet Lori would be a much better choice even though she was far away) was not there when we found the listing, not there when we put in the offer, and not there when we went in attorney review. With the service she provided so far, I wish I could retract her commission, but of course that is not possible. The system is definitely flawed with the way it is. I think the simple solution is like what David mentioned earlier, the dual agent should be paid a reduced commission or one commission (I support the reduced). A seller agent get pay for selling the house, whether he found the buyer or not still point to him doing his job. New Jersey should seriously consider follow some of the other states in allowing for agent to compete on commission.

I just went in contract (not with Lori due to us not being able to find what we want in Hoboken on our budget, sorry Lori), the agent that we decided to put down on the contract because she was close to the listing address (poor choice, I bet Lori would be a much better choice even though she was far away) was not there when we found the listing, not there when we put in the offer, and not there when we went in attorney review. With the service she provided so far, I wish I could retract her commission, but of course that is not possible. The system is definitely flawed with the way it is.

]]> By: Lori Turoff http://hobokenrealestatenews.com/2009/08/28/what-do-you-think-is-this-seller-being-served/comment-page-1/#comment-3700 Lori Turoff Tue, 01 Sep 2009 12:36:02 +0000 http://hobokenrealestatenews.com/?p=1937#comment-3700 The seller certainly knows who found the buyer and how long the property was marketed before an offer was presented! The buyer is working with the seller's agent - the seller knows that as well. I don't see any of that as problematic. As a practical matter, the seller doesn't complain because he or she doesn't know any better. Any disgruntled consumer can report his agent's actions to the NJ real estate commission. Most sellers, if they sell that quickly, think it's a good thing and simply don't realize there may be an issue. Sometimes I think their judgement is clouded by their relief at getting a fast sale and they're not focusing on the price as much as they should. The seller certainly knows who found the buyer and how long the property was marketed before an offer was presented! The buyer is working with the seller’s agent – the seller knows that as well. I don’t see any of that as problematic. As a practical matter, the seller doesn’t complain because he or she doesn’t know any better. Any disgruntled consumer can report his agent’s actions to the NJ real estate commission. Most sellers, if they sell that quickly, think it’s a good thing and simply don’t realize there may be an issue. Sometimes I think their judgement is clouded by their relief at getting a fast sale and they’re not focusing on the price as much as they should.

]]> By: Kathy Zucker http://hobokenrealestatenews.com/2009/08/28/what-do-you-think-is-this-seller-being-served/comment-page-1/#comment-3696 Kathy Zucker Tue, 01 Sep 2009 02:24:16 +0000 http://hobokenrealestatenews.com/?p=1937#comment-3696 But the seller doesn't have access to the MLS, so how are they going to know about it or prove it? The listing agent certainly isn't going to tell them about it, and unless the buyer's agent and buyer go directly to the seller, it's unlikely to go further. Even then the seller may not want to deal with the hassle of filing charges against his/her agent. But the seller doesn’t have access to the MLS, so how are they going to know about it or prove it? The listing agent certainly isn’t going to tell them about it, and unless the buyer’s agent and buyer go directly to the seller, it’s unlikely to go further. Even then the seller may not want to deal with the hassle of filing charges against his/her agent.

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