Newsworthy Post
Abdullahi Abshir
“The bid whisperers”
This post is mostly about how realtors can expose clients offers for million dollar houses to other clients that are interested in the same property only to get a better deal or even make the buying process faster. To get a better offer from a client would be as simple as offering $5,000 more dollars than the original price. To most clients that isn't a fair deal because of the effort and time putting in looking at the area of the property and giving the realtor a lot of trust working with them to live in a right environment just for them. Now, however, the National Assn. of Realtors has revisited an idea it kicked around two years ago -- and this time made an addition to its code of ethics. Effective Jan. 1 of this year, buyers' agents in all member states, including California, are required to inform clients that their offers might not be kept confidential. Although many home buyers may not realize it, the terms of the offers they make may be revealed to other clients in a practice that the real estate industry commonly refers to as "shopping offers. Basically a window shopping rule for clients where it is legal to share information with other buyers so things can be smooth for realtors, and getting to the main point which is selling the house as soon as possible with the best price.
Moreover, it seems that the ever-fluid art of real estate negotiation has already spurred some agents to perfect their skills in an emerging subgenre: the confidentiality agreement. There are some realtors who have high trust in clients in buying a specific property only because of their background and agreements they have established, so keeping a house on hold which various buyers are interested in as well will not have access in information because of the bond a realtor has with a client. There is always gonna be disagreements and hassles dealing with buyers but being smart and choosing the right choices makes realtors better each day. You’ve probably heard the phrase “You can’t have your cake and eat it too.” But if you’ve ever puzzled over its meaning, here’s a hint: If you eat your cake now, you won’t have any left over to look forward to eating later. In other words, sometimes a person is forced to make a choice between two good options. In the real estate world, dual agency breaks the cake rule: If your real estate agent also represents the sellers of the home you want to buy, you don’t necessarily need to ditch them. In many cases, you can keep your agent and get the house too, if you want to, that is. Whether you’re buying a home it’s typical for one agent to represent the seller and another agent to represent the buyer. With dual agency, one agent works for both for the buyer and seller also keeps the full commission. Dual agency also occurs when agents from the same brokerage represent each party. But like enjoying a huge slice of cake and in return getting a bellyache, there are definitely pros and cons to agreeing to dual agency. Being aware of who you pick as your dream house or regular temporary property is very important because they must want to see you succeed then feel uncomfortable.
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