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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (3284)7/10/2002 7:37:58 AM
From: TradeliteRead Replies (2) of 306849
 
Elroy...consider this.
And it actually happens all the time.
It's Tuesday sales meeting day at one of the largest and most successful brokerage offices in town (such as the one where I worked for many years).

At the meeting, all agents have an opportunity to discuss their new listings, both those officially listed and about to be listed. One or more agents in office KNOW their buyer-clients or buyer-customers will be interested in seeing that house. Of course, they get in first.

Remember, the seller has already been told the range of potential value of his home. He might get an offer from one of these in-house people first, but will he take it?

Not necessarily.....because his agent will tell him that the competing brokerages now have an offer they have to beat. Seller wins with multiple contracts and eventually a much better contract to accept.

The brokerage offices with the best track records of getting buyers AND sellers what they want usually win the competition race. And the buyers and sellers hire them because of this record, don't they?

Competition in this industry is fierce. Buyers and sellers can fire their brokerage firms any time they want.

Besides all this, consider the fact that many sellers don't even want their homes listed in the MLS--agents have to argue with them about the advantages in order to get them to do it. Some sellers pick a brokerage firm and DEMAND that the firm sell the listing itself. Sellers don't always relish the idea of hundreds of buyers traipsing thru their homes--they want the place sold, yesterday, with a minimum of hassle.

So, I'm sorry, but I can't agree that what you describe is slimy business practice. It works.

Also please keep in mind that the individual agent does not care whether the house is sold by an in-house agent or not--that agent only cares that it gets sold and that the seller is happy. The brokerage firm is the major beneficiary of some extra commission from in-house sales, but its agents are independent contractors whose interests often radically differ from those of the firm.
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