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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (2819)	6/19/2002 11:53:24 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

an agent's fee comes from the proceeds of the sale of the property. he can be just as unscrupulous on the low side as the high side when it comes to establishing the asking price or acceptance price of the property... bottom line is if the property isn't sold he doesn't get paid...either way, the buyer or seller better do their homework and not simply rely on advice of a broker.

To: Tradelite who wrote (2819)	6/19/2002 1:37:39 PM
From: bozwood	Read Replies (2) \| Respond to of 306849

Tradelite, Thanks for pointing out such a tricky thing to me, a lay person, as fiduciary duty. There is no such duty to the buyer, which is what I was talking about. Boy, you are right, it is tricky. The point is that a realtor has a duty to the seller not the buyer. A used car salesperson also has a duty (while not fiduciary) to the dealership to sell the car. Each only gets paid if they sell. In addition, a buyer broker may have a duty to a buyer but still has some conflicts of interest. By the way, a stockbroker does not represent (in the legal sense) the companies he or she is trying to sell. And buyers of real estate may not now understand that they are customers, not clients, when consulting with a realtor.