EXPECTING LIFE

Thursday, August 24, 2006

TO ELABORATE

So, we are trying to buy a house. In fact, we will know tomorrow if said trying was in vain. No matter, though, to the post below, claiming real estate agents are sharks.

We found a buyers agent, Jim Jayson. He showed us several properties, and we found one we liked. Still like. As it turns out, one of Carly's friends knew the seller's agent, so we got in touch with him same day, and tried to fast track an offer. No problems so far.

Eddie Dittewiler, the seller's agent, had me come in and sing an offer. During the signing, he went super quick through all the fine print. No worries, it is all boiler plate. BUt he asked if we had an agent. I said yes, Jim Jayson. End of discussion. Then he said it was all ready, and he just needed to show us the house, legally. We had already seen the house, but he insisted. So we went to see it.

That night Jim called, asking us if we had picked a house. Yes, I told him, we have, and he should have known about it. See, I assumed Eddie would contact Jim, and that's why he asked me about him. Jim said no one had contacted him, but not to worry, we would still write up an offer sheet. I told him Eddie already did. See what's happening yet?

Eddie was not supposed to do any of that. By "showing us" the house, he had assumed status as buyer's agent. That meant he was getting BOTH commissions. And cutting Jim out of his EARNED piece of the pie.

Now, none of this means dick to our price. But what it does is throw a wrench in the gears, and slows down the process as these two work out who gets what percent. And we have an ever smaller window to buy this house.

Hence, real estate agents are sharks.

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