Tag

Realtor commission

“Parade Season” and Procuring Cause

Twin Cities Fall Parade of Homes Organized by builders and remodelers to show off their latest projects, the Fall Parade of Homes can also be the cause of some glitches between Buyers and their Realtors. Especially if the Realtors didn’t know their clients were looking for a new home. When a client goes through the builder’s open house...
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Faux FSBO’s

Free Coaching? In a market where even the real estate pro’s are finding it tough, I see a lot fewer For Sale By Owner’s (“FSBO’s”). From perhaps 12% of the market at the peak five or so years ago, I’d guessimate that percentage is down 50%, to about 6% today. What can be said of that...
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Realtor Consolation — and Booby — Prizes

Winning the  . . . Bronze Not every Buyer buys, nor does every Seller sell. Surprise, surprise. Circumstances can change, markets can change, priorities can change — and, let’s face it, so can people’s minds (all fine, as long as they haven’t signed a Purchase Agreement!). Consolation Prize:  Referrals When that happens, the Realtor may...
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Commission Confusion

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 ....
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“Pocket Listings”: Good for Agents, Bad for Clients

“Shhh!  Don’t Tell Anyone My House is for Sale” “Listing agent will not also represent Buyer.” –Clause added to every listing contract I sign If your Realtor will agree to the foregoing clause — as I do on every listing I’ve ever handled — you don’t need to worry about a “pocket listing.” That’s because the Realtor...
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“Checks With No Comma”

Euphemism for “Puny Paycheck” That was the phrase I heard at a real estate course this morning bemoaning the commission checks associated with $25,000 home sales — or leasing a property for 10% – 50% of the first month’s rent (see, “Why I Don’t Do Rentals“). While not common (thankfully) in the metro Twin Cities, home...
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