"between what you have a right to do and what is right to do" Potter Stewart
I know that it is hard for some people to believe but most Realtors take our code of ethics very seriously. We have been in business as Walker Bagwell Properties for 8 years during this time we have only had 2 arbitration cases and both were resolved in our favor. We have specific rules to follow as a Realtor and most follow the rules.
We recently had an agent from another company who has been in the business for a very long time make a offer on one of our listings. For some reason he decided that he could negotiate directly with our seller. This is a total unauthorized action to take as a Realtor. The only negotiation has to be done between the agents. He also did other strange things but I believe this will be our 1st ethics complaint.
The listing agent doesn't set the price on listings, they simply offer advice on the market and allow the seller to decide on list price. The agent will inform the seller if they believe the price is too high or low. Yes we do have sellers who think they should list lower than market value.
The same goes for buyers, your agent doesn't decide on what you should offer on a property. The buyer has to make that decision based on comps that the buyer's agent provides them. As a buyer don't ever make a uninformed offer. The objective is that the property will sell at market value or as a buyer's agent if you can get it for less then all the better for the buyer. A win win situation is the best result.
Find a agent that you trust and always ask questions.
Jim Bagwell
Friday, April 26, 2013
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