[TowerTalk] Planning for the next move...

[W0MU Mike Fatchett]

Each state in the USA has different regulations on the different 
agencies that can be created between parties.  In Colorado, There is a 
Exclusive listing contact where the listing agent owes all allegiance 
(fiduciary duty) to the seller of the home, there are some caveats that 
where all material defects must be disclosed. The Buyers agent owes all 
allegiance to their buyer.  Then we get in to what is called a 
transaction broker or facilitator.  These agreements state that the real 
estate agent will act to get the deal done but with a very limited scope 
of what they will do for either side.    At any rate I am sure that many 
states require the agent to provide written disclosures on what each of 
these agencies encompass.  Read them!

If you are at all unsure you should always seek the opinion of a Real 
Estate Attorney.  Real Estate agents are very limited in the what they 
can do and what they should say.  We are allowed to practice real estate 
law in a very very limited fashion. Outside of what we are allowed to by 
law, it has to be handled by an attorney.

A Realtor is a real estate agent that has joined the National 
Association of Realtors.  Not all agents are Realtors, especially in the 
commercial side and being a Realtor does not make them any better than a 
non Realtor.  In the past you had to be a Realtor to participate in the 
multi list programs to list and view houses. That has changed over the 
years.

Agents commissions are negotiated between the agents. Buyers/Transaction 
agents are not always paid by the sellers agent but that is how it 
normally works.   The listing agent pays the buyers agents from his/her 
commission.  Buyers agents and transaction agents have no allegiance to 
the Home owner/seller.

Each State will be different so do your research.  Ask lots of questions 
and if in doubt get an attorney.

W0MU


On 2/8/2018 9:14 AM, Kelly Taylor wrote:
> Perhaps it’s different in the US, but in Canada, buyers are often warned the fiduciary duty of any agent goes to the person paying the bill. So even though the fee is split between the vendor’s agent and the buyer’s agent, both agents owe their allegiance to the vendor.
>
> Which is not to say they’re allowed to misrepresent facts.
>
> 73, kelly, ve4xt
>
>
>
> Sent from my iPhone
>
>> On Feb 8, 2018, at 05:51, Patrick Greenlee <patrick_g at windstream.net> wrote:
>>
>> It is important to understand that you as the buyer need a real estate agent who is legally bound to represent your interests not those of the seller.  When an owner lists his property for sale with a real estate agent that agent is legally bound to represent the seller's best interests,  N O T   Y O U R S.  You the buyer need someone "in your corner" who is legally bound to represent your best interests. Enter the buyer's agent.
>>
>> But how much will this cost?  Nothing extra. The fee available to the seller's agent is split with your (buyer's) agent.
>>
>> My current home is on a 160 acre cattle ranch.  I have no tower restrictions except with the FAA, no home owner's assoc. or other nonsense.  My septic system was registered with the DEQ (Department of Environmental Quality.) Other than that there were no permits or inspections whatsoever.
>>
>> My buyer's agent was a retired academician, PhD entomologist, I met when cold calling real estate companies.  We have been very close friends for going on 20 years now.  Not your average real estate sales guy maybe but not all that unusual either in my experience.  ...and oh by the way, he lived in a development where every home is on an acre or two and he had a free standing 100ft tower with a wind generator on it in his back yard. Free standing triangle tower with legs on 14 ft centers at ground level.
>>
>> Patrick        NJ5G
>>
>>
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