BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG: Maybe New Allowances Aren't All Good.

Maybe New Allowances Aren't All Good.

 

When I first became licensed as a Texas Real Estate Broker in 1966, things were much different than they are now.

Here are some examples:

  •          Yard signs had only the name of the brokerage company, address and phone number.  The listing agent was not shown.
  •          Everyone did dual agency, and the courts ruled that caveat emptor (Let the buyer beware) protected sellers, brokers and their agents from most lawsuits arising from buyer and seller disenchantment
  •          An agent and brokerage couldn’t claim two sales when they had a dual agency sale.
  •          And finally, co-op sales did not allow the selling agent/selling agency to claim they had sold the property.  The sale belonged to the listing agency.  The selling agency was acting as the listing broker’s agent.

There have been a lot of changes throughout those years, and in most cases, they’ve done nothing more than confuse the public.

Recently, as a one-person brokerage company, I had a listing on a home.  Some prospects called and asked to see the home.  I asked them if they were represented by an agent.  The answer was that they weren’t.

A few days later, an agent with another firm called to ask about the property, and I asked if her clients were Mr. and Mrs. X.  She said that they were. 

After a rather long negotiating period, a contract price and terms were agreed to, and the sale closed. I took my sign down within an hour of the closing.

The following day, my client called and said, “Why does the buyer's agent have a sign in the yard that says, “Another One Sold by X?” My client’s reasoning was that the listing was mine and that I had done a great deal of work to cause the transaction to work.

She wanted to know why the co-op agent was inferring that they had done it all by themselves.

In the old days, that company would have had an ethics violation as well as a license violation for doing that.  Now, it’s perfectly legitimate.

My client wasn’t happy with the explanation.

I wonder if these signs don’t actually backfire?

BILL CHERRY, REALTOR
Since 1966

Dallas
214 503-8563

On the web

Comment balloon 1 commentBILL CHERRY • October 24 2016 02:06PM

Comments

Interesting to see it in perspective. Thing really have changed. Of course, I never could understand how the Listing agent could sell a house.    :)

 

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) over 1 year ago

This blog does not allow anonymous comments