Sunday, February 10, 2008

To get loyalty, give it.....

When a seller hires a real estate agent to represent her in the sale of her property, the seller expects that the agent will do all in his power to sell that listing. After all, real estate is the only industry where the professional performs all of the duties necessary for the job in the HOPES of getting paid when the job is done. The seller expects that her property is high priority for the agent.

Recently, I had cause to speak with a seller who had a property listed through another brokerage. She told me if I had a client that was interested, to phone HER instead of the listing agent as she could then "cut the listing agent out and save some money". A listing contract is known as a "bilateral" contract; meaning that both parties to the contract have obligations to perform and are agreeing to perform them. The listing agent agrees to do everything in his power to market, promote and sell the property and the seller agrees to allow the agent to sell the property and to pay a commission for his hard work.

Besides this seller showing no regard for a legal contract she entered into, she also demonstrated she had absolutely no loyalty to the agent with whom she contracted. There are certain ramifications for her actions, should she have gotten as far as a contract which excluded her listing agent, but the fact is that she was WILLING to slight the agent in order to save money.

If she wanted the agent to work hard on her behalf, she should have been on his side.

Sad.

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