Awkward Legal Construction One of the more confusing parts of the standard Minnesota Buyer Rep agreement — the contract governing the relationship between a home Buyer and their Realtor — is the two-part section discussing compensation. The first part states that the Buyer will pay the agent a to-be-specified retainer fee. That sure would be nice ....Read More
Overpriced + Fat Payout = Overpriced Can a whopper of an agent bonus move what appears to be an overpriced listing? This South Minneapolis duplex (pictured above) would certainly seem to be an excellent test case. Listed Friday for $430,000, what jumped about the listing — besides the modest curb appeal and aggressive asking price...Read More
Realtor Pay-Out’s Rise with InventoryNo, mortgage rates didn’t hit 4% over the weekend. Rather, that was the pay-out being offered on not one but two of the homes I showed over the weekend. In fact, out of 8 homes I showed, fully half offered above the standard 2.7%. Commission Primer For those who don’t know,...Read More
Lack of Standardized ContractsCreates Foreclosure Can of Worms From a realtor’s perspective, representing a Buyer trying to purchase a foreclosure can present an endless can of worms. For starters, there’s the issue of the house’s condition. What is it? Unlike a typical owner-occupied home, there are no disclosures, and the Buyer usually must agree to...Read More
