Dear Nicole and List: I have read the multiple post on this subject and I find your questions full of common misconceptions and frustrations regarding real estate agents. Your questions are quite worthy of response. (the rest of the stuff..NO COMMENT!)
First, I believe the Center City agents were chosen to represent the 4200 Pine condos because of their familiarity with the emerging Philadelphia condo market, their database of clients who are looking for condos, their marketing skills and professionalism. (Obviously, their cousin could have hooked-them-up!) :-) They could say to folks looking for a condo in Center City "Why don't you look at U-City?. All local real estate agents have access to sell property throughout Pennsylvania, they are licensed to do so. Many experienced agents chose to focus on specific areas because it is just too difficult to be knowledgeable about the entire Philadelphia or Pennsylvania real estate market, travel to it and manage their time efficiently. There are no "territories" assigned to particular companies or agents. The difference is, a U-City office would have more U-City listings (representing the seller) than a center city office. The exception being the 4200 Pine complex which in terms of the number of units and value could probably compete with many local office listings. A real estate agent being intoxicated or smelling of marijuana is a Pennsylvania Real Estate Commission offense and should be reported first to their office Broker. The agent who was upset with you should have established an "exclusive" buyers representation agreement with you and then would have been due a fee when you bought a house. In most cases of sales of property by real estate agents, the seller pays the sales fees. If an agent list and sells a property, the agent's office will receive the full commission, which is usually 6%, but not always. If a local real estate agent represents you as a buyer for a property that is not in their personal inventory (listed by them), even if it is listed by someone else in their local office, they will split the commission usually 3% and 3%, but not always. (the law says that all commissions are negotiable, what I have stated is the standard) The office Broker usually collects a percentage of the commission from the agent on all sales. It will vary from agent to agent, office to office. Commission splitting is how most deals get done in real estate. Dual representation of buyer and seller is allowed by law as long as it is disclosed up front and agreed in writing by buyer and seller. It is the Broker's responsibility (the person who is the head of the real estate office) to make sure it is handled responsibly. Yes, real estate agents play games with each other and block listings from other agents at the sufferance of the seller and the benefit of the agent. If you suspect this is happening, report it to the listing Broker. In summary, if you are looking for investment property or a home to live in, the most important element is to find a real estate professional that you trust and have a "gut" feeling about. If you lucky and find that person they should be willing to do the things that are in your best interest and direct you appropriately without first thinking of their commissions. In the long run, it will be what is best for their business. S. -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Bill Sanderson Sent: Thursday, March 17, 2005 7:35 AM To: [email protected] Subject: Re: [UC] Is etiquette in R.E. = Different agents for each neighborhood? I'm not a real estate agent, let alone a realtor, nor am I a party to the dispute we've seen here. I think that the answer to your question hinges on the level of professionalism adhered to (and shown by) the agent of your choice--really, in the end, the one you buy from. It seems to me that in your case you made a good choice, and the reasons were clear. My dim understanding is that there is indeed a compensation difference, but that difference happens for a variety of reasons for each agent, and shouldn't affect their work for you. ----- Original Message ----- From: "Nicole Mcewan" <[EMAIL PROTECTED]> To: <[email protected]>; <[EMAIL PROTECTED]>; <[EMAIL PROTECTED]/> Sent: Wednesday, March 16, 2005 10:30 PM Subject: [UC] Is etiquette in R.E. = Different agents for each neighborhood? > This is an honest question -- no sarcasm at all. I'm not trying to > step on > any toes or offend anyone. > > What if you are looking in different neighborhoods simultaneously? Or > if > you're new to the city altogether? Someone who is new to Philly has no > idea that each area represents a "turf" to a particular agent or real > estate agency. > > Or what if you live here but are working with an agent and exploring > Brewerytown, Fishtown and South Philly for investment purposes? If a > listing comes up in University City that interests you -- are you > supposed to go directly to that agency for that listing? > > Do agents care if they know you're working with more than one > simultaneously? > > I had a weird experience about seven years ago with an agent (no one > being > discussed here of course) who was always drunk when she would take us out > to look. We didn't have a car at the time and it made us uncomfortable > especially since our toddler was sometimes on board. Well, we stopped > working with her and we wound up buying something about six months later > having found a very professional local agent. The first agent somehow > found out we bought a house and called me one day and started yelling at > me... ! I sure didn't mention her "problem" during that conversation > because I knew she had my new address and she seemed a little unhinged at > the time. > > Also: It's my understanding that this is multiple listing city but > I've > heard of situations where neighborhood agencies block access to their > listings. Anotherwards, if an outside agency calls to set up a showing > the office will come up with a variety of excuses to stall access. > > I was told that this is because agents only get half the commission if > that agent happens to sell the house. If this is true then that's > probably not good for the seller who might be losing out on potential > sellers. > > Or is it better to deal directly with the listing agent for each > property? > Of course the problem in that situation is that the agent is working for > the seller so it's a little bit of a conflict of interest. Lastly -- do > our neighborhood realtors also sell homes in other areas of the city if a > client decides University City is not a right fit for them? Or do they > refer people to other agencies? > > Again -- this is just an honest inquiry. > > Nicole McEwan > > > ---- > You are receiving this because you are subscribed to the > list named "UnivCity." To unsubscribe or for archive information, see > <http://www.purple.com/list.html>. > ---- You are receiving this because you are subscribed to the list named "UnivCity." To unsubscribe or for archive information, see <http://www.purple.com/list.html>. ---- You are receiving this because you are subscribed to the list named "UnivCity." To unsubscribe or for archive information, see <http://www.purple.com/list.html>.
