The Corollary to, “No One Washes a Rental Car”
What’s the significance of the disclosure — required in Minnesota — that the Buyer is a licensed real estate agent?
In my experience, two things:
One. The Buyer is more sophisticated (or should be), and therefore, at least in theory, the deal can progress more quickly and efficiently (there’s also one less layer of decision-making). On the other hand . . .
Two. Because the dollars are coming out of the agent’s pocket, not their client’s . . . they’re more dear.
It’s also the case that agent-buyers can be more emotional/less objective about their own deals (see, “Variable #2”), making the ordinary hurdles along the way to closing — like any inspection and walk-thru issues — more problematic.
Pros & Cons
So, which way do these two, offsetting variables cut?
Ultimately, it comes down to the individual agent and their personality, expertise, professionalism, etc.
Call it a wash (sorry).
P.S.: The same issues can arise when the agent is representing a family member.
