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POSTED July 16, 9:14 AM
On my blog, we receive all kinds of questions and post most of them to the site for community replies. I figured this is one many people often think, but are afraid to ask, so I thought I'd put it here as well.Dear Editor, So the question is: How do you effectively replace an agent/broker on a deal before an offer is made? Are there commission issues and hidden costs which need to be addressed? The question assumes this reader is being represented as a buyer. If that is indeed the case, unless they signed a specific "buyer's broker agreement" or something of the sort they can simply walk away. There shouldn't be any hidden costs or commissions. The agent may try to get something out of the buyer or the other agent in the way of "referral fees", and if a brokerage feels they brought a buyer to a specific property they may attempt to recover commissions, but unless there is an agreement in writing, buyers can pretty much walk away. They might tell the agent they're walking away out of courtesy (emails work, phone calls are better), but that is up to them. If this reader is talking about an agent representing them as a seller, that is an entirely different story and there may very well be commissions or costs due (depending on the listing agreement terms and conditions signed.) Generally speaking, buyer representation in San Francisco is non-binding for the average residential home purchase. I'm not talking about commercial or industrial purchases or leasing of office space. If your agent doesn't cut the mustard, you can (generally) cut the ties at any time. |
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POSTED July 9, 4:40 PM
That quote used to not even make me flinch, because there were so many nay-sayers in these parts saying the same thing, my clients continued to get blown out of the water on multiple offer situations, and many properties still sold in the blink of an... Read More
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POSTED June 27, 9:20 PM
Charts, Data, Trends Last week I received a few calls, emails, and curbside conversations regarding my first time ever calling our market a "(soft) buyer's market" (on sfnewsletter), and what exactly that means. Let me clarify. It does... Read More
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POSTED June 26, 4:33 PM
District Map Condominiums District 1 May-07 May-08 Number of Sales 17 15 Median Selling Price 905,000 850,000 Average DOM 30 62 District 2 May-07 May-08 Number of Sales 1... Read More
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POSTED June 23, 9:31 AM
I received this question to my blog last week, and although we got some good replies, we're not quite sure the question has been answered with certainty. If you can shed some light on the matter, it would be appreciated.
The reader's question:Hi... Read More
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POSTED June 23, 9:23 AM
Daly strikes again. Daly Introduces Ordinance Placing Two-Unit Buildings in Condominium Conversion Lottery Supervisor Chris Daly introduced a proposed ordinance that would place two-unit buildings in the condominium lottery and exempt two-unit buildings... Read More
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POSTED June 23, 9:17 AM
So you heard me complain, and cry, and moan that my clients missed out on unit 33D at the St. Regis. Well, now it's back on the market, still $3,695,000, still spectacular, and still available. The buyer, which just so happened to be represented by... Read More
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POSTED June 17, 11:20 PM
It's funny being a Realtor. We've often been compared to nothing more than glorified used car salespeople, paper-pushers, free-loaders, and the list goes on and on. Yet we're trusted with selling many of your largest and most valuable assets. ... Read More
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POSTED June 5, 8:24 AM
I can't believe what I'm writing. Months ago I tried to tell all of you and some clients about some pocket listings (off market deals) at the St. Regis. After playing phone tag a few times and finally getting a commitment from some clients to fly... Read More
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POSTED May 30, 4:04 PM
Charts, Data, Trends By all accounts, the San Francisco market is still doing very well considering the environment we're in. However, there seems to be an incredible disconnect between those individuals that are actively pursuing a home, Realtors,... Read More
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