We do not do due agency deals. What’s that? That’s when the agent represents both the buyer and the seller and makes a DOUBLE commission.
The number of deals that go to agents that do this is astounding. The number of states that ban it is pathetic, 3.
Why should you care? If you are legitimately trying to buy a home, the real estate agent, you chose to represent you should have no bearing on if you get the property, but it does. The listing agent first wants to sell it themselves, then secondly, the agents in their office, and third, one of the other agents in the conspiratorial circle. How do they do it? They share the details of your offer with these agents. Not civil at all.
Why? Money and friendship. They want to make sure all the deals stay within their group, so everyone is happy. When an outsider comes in, they try like hell to piss them off and make them go to someone else.
After you submit a perfect offer with everything attached, REAL preapproval, proof of funds, and a great letter to the owner, this is how they fight it?
- Run this agent’s sales history (and you can check zillow or ask your agent to run a history) does these dirty deeds, have your agent make it known that you know their history.
- Indicate that you will have your buyer contact the seller directly to verify that they saw your deal. Blame your buyer for being a PITA. Let the listing agent know this upfront. Call it a quality control measure. The idea is to make sure the agent knows you are not funking around. Be very serious and sure them. They will let one deal go if they know they will be caught.
- Be perfect on deadlines.
- Go on social media and blast on their facebook and twitter pages that you submitted a great deal on their house.
This still may not work, and you’ll need to be even more aggressive and loud about your fabulous offer. Strategize on every deal. And eventually, civility will return with an app—blind offers, notability for the agent to see them.