a person bound to act for someone else's benefit, as a trustee
of or relating to a trust or trustee [Latin fiducia trust]
You have a point in that we ALL work for the Seller since they are paying us. The difference is this: The Seller has a professional relationship with their listing agent. The Buyer's agent will not likely ever have a chance of procurring referrals from the Seller. Like Patti said, we compete for clients and expect to receive referrals for doing that "great" job. We want OUR client's referrals, period, and "great" agents love to talk about how much we saved our clients or how well the terms suited our clients wishes and needs. Bragging rights rule. :)
Here is a simple picture.......... 1,000,000.00 house = appx. $28,000.00 commission
If you paid 10% TOO much..... 1,100,000.00 paid = appx $2,800.00 increase in commission
When you figure out you paid too much.....that agent will never see a referral from you and that is a loss of, at least, $25,000.00 for a similar future referral. You see what that will do to an agent's future in the Real Estate business? Nothing positive right? For example: Last year my business relied on a 92% referral basis.
an agent, when he signs the agency form, has a fiduciary responsibility to always have their clietns interest in mind. It is a standard of care, they should adhere to, not only on the agency form but it the realtors code of ethics. as well
A professional agent skilled in negotiation and knows the area is worth more the
trouble. It is professionalism that counts. Quit worrying about someone's compensation
and just focus on your needs.
The better we take care of you- the more referrals we are going to get. In a business as competitive as Real Estate- the only way to become a success is to have referrals come our way. Find an agent that you trust and they will earn the money they are paid- by the seller.
"Advice You Need, Attention You Deserve"