The five-finger discount
And Realtors wonder why we get such a bad rap? I don’t. I’ve had several calls this week from potential buyers who have made contact with the Listing agent over the past few weeks and now they want me to represent them as a buyer’s rep. Unfortunately, I can’t do it.
Why not?
Procuring Cause. It’s one of the dirty little secrets of the real estate industry. A listing agent who goes out to a property to show some potential buyers his/her listing gets an offer from these buyers a few days or weeks later submitted by a buyer’s agent whom the potential buyers never mentioned. The listing agent can now claim procuring cause, and if the transaction closed, he/she can go after the buyer’s reps commission. Basically, the listing agent can claim he/she was the primary reason that the buyers ended up purchasing the property. All because he showed them the property first.
Sounds kind of like a dog pissing on his territory doesn’t it? Trust me, it’s about as graceful and evolved as watching a mangy mutt mark his territory. Greed, plain and simple.
But the agent’s job should be to sell the house, you say. I agree. Totally. Is it so difficult to open the doors of your listing to someone who may be interested in buying it?
Sad.
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