BHs:
I went to look at a property today. When I met the seller's agent at the door after speaking to him on the phone and letting him know that I don't have an agent yet, he surprised me by pulling out a 7 page document and asked I sign it in order for me to see the place. When I asked him if it is the standard, he said yes it is. I have never heard of this practice before. I was uncomfortable, so I refused and was about to walk away. But then, it turns out it is a document that says he will also serve as our agent (dual agency on this deal. He goes on to mention that he will take care of "ministerial" responsibilities (administrative I guess) for me while fulfilling role of an "agent" for the seller. Sensing my reluctance he finally agreed to let me see the property. This was after a good 20 minute of him trying to convince me.
The other interesting story is that even though the property was listed for $350,000, he proceeds to tell me that the seller is not interested to sell it for anything less than $370,000. I told him that it sounds more like a bait and switch, to which he says the listing price was set low to gauge the interest. However, he proceeds to tell me that should I use him as my agent, he will be able to get the price down by $5000 and if I opted to use someone else then the price will be non-negotiable.
All this he says is legal, since his brother is the actual listing agent and he works for him and with him. Oh by the way, he already texted me (within a hour of leaving the property) saying that there is a buyer who may be finalizing the deal and that I need to make up my mind by tomorrow morning. If not, I would stand to lose the property.
Has anyone experienced something like this?
I went to look at a property today. When I met the seller's agent at the door after speaking to him on the phone and letting him know that I don't have an agent yet, he surprised me by pulling out a 7 page document and asked I sign it in order for me to see the place. When I asked him if it is the standard, he said yes it is. I have never heard of this practice before. I was uncomfortable, so I refused and was about to walk away. But then, it turns out it is a document that says he will also serve as our agent (dual agency on this deal. He goes on to mention that he will take care of "ministerial" responsibilities (administrative I guess) for me while fulfilling role of an "agent" for the seller. Sensing my reluctance he finally agreed to let me see the property. This was after a good 20 minute of him trying to convince me.
The other interesting story is that even though the property was listed for $350,000, he proceeds to tell me that the seller is not interested to sell it for anything less than $370,000. I told him that it sounds more like a bait and switch, to which he says the listing price was set low to gauge the interest. However, he proceeds to tell me that should I use him as my agent, he will be able to get the price down by $5000 and if I opted to use someone else then the price will be non-negotiable.
All this he says is legal, since his brother is the actual listing agent and he works for him and with him. Oh by the way, he already texted me (within a hour of leaving the property) saying that there is a buyer who may be finalizing the deal and that I need to make up my mind by tomorrow morning. If not, I would stand to lose the property.
Has anyone experienced something like this?
Statistics: Posted by worthit — Fri Nov 15, 2024 7:43 pm — Replies 12 — Views 1128