It is a easy way for him to double dip into the transaction. Showing houses doesnt have to be a full time job. Being a mortage lawyer dosent have to be a full time job either. However, in general, both professions are used in a housing transaction. Not only does he get his percentage of the sales price from the seller, he can also collect the nice sum of drawing up the legal documents that you have to have for the sale.
So...is he lying?
Yes. You can easily get a good realestate agent and a good mortgage lawyer, they don't have to be the same person and have one that serves both doesnt bring any advantage to YOU. It also really doesnt make it much easier for the seller as the realestate agent typcially works with a particular mortgage lawyer that they happily recommend. You as the buyer don't really care either. This guy is the one that makes out in the deal.
International Level: International Guru / Political Participation: 863 86.3%
Hello,
I'm new to the community here, and gravitated to this forum. I'm a Realtor with Prudential. I found many of your comments interesting. I am a niche agent, and focus mostly on horse farms and properties with acreage.
Looking forward to getting to know everyone here.
I have been in business for a number of years. I consider myself an honest person who works very hard. I know that when a sell a house I get whatever money I was expecting however my priority is client satisfaction and if they're happy, I'm happy.
International Level: Politics 101 / Political Participation: 0 0%
I've had one bad experience too many. I had a lovely couple from New York who wanted to purchase some property in Trinidad sent to me by a Real Estate Agent who worked on a project with me. They saw the properties, feel in love and was talked into making a downpayment to the Agent(first and biggest mistake). They then came to me to assist them with the funding. Now, the Agent, was supposed to keep in contact with me and send me all the relevant documents so that I can complete the couple's mortgage application which she didn't do. It so happened that the 90 days in the Sale Agreement had elapsed with me still without all the documents required and the couple not getting the funding for the properties. Miss Agent then had the nerve to tell these people that their downpayment had been lost due to them not paying the balance of the money within the stipulated time. Poor thing didn't know that this folks had a great lawyer who inserted a clause in the Sale Agreement which protected their downpayment from being lost! She was crushed! To this day, the nice couple from New York have only gotten back a mere portion of their downpayment. Why? Well, she invested their money (which she was not supposed to do) and had problems getting it all back. Another thing she did was hike the asking price of the property so that she could make extra money. Be aware out there!
Name: Jamie
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Comments: Like anything else there are good and bad real estate agents. I think that the first step is to choose a real estate agent from a reputable company. This way if you are not getting the right treatment you have a way to address the situation. With an independent real estate agent you get what you get and there is nothing you can do about it especially if that agent has an exclusive contract with the owners of the house you want to buy.