Palos Verdes Lifestyle - Norma Toering 310-493-8333

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Love, Loyalty, Listing Agent and Money

View from Redondo Beach

From the Real Estate Files of My Mind:

To paraphrase Bill Clinton, I feel your pain, only this time the pain, or at least disappointment was mine. Years ago, I sent past clients (two transactions and a referral with them) to an open house in their neighborhood on a street they highly coveted.  The view home was new on the market and the open house was not advertised.  You guessed it, the listing agent told them they would save money with only one agent in the deal...and the rest is history. 

This guy liked me, but he loves his money and the temptation to keep more in his pocket trumped his loyalty.  He told me he saved a bundle by using her but I was a much better agent, plus he gave me another referral.  Funny, he actually overpaid by about 10% and would have saved money with me negotiating on his behalf. The home cost millions, yes plural, so we are not talking chump change.

 My takeaway lessons  are:  1) As agents we need to continue to educate consumers about the need to have representation other than the seller's agent.  I use the attorney example--it is the perfect situation for conflict of interest.  2)  Some people lose money, and lots of it, by taking actions they believe will benefit their bottom line.   Electing to share the seller's agent can end up being a very costly move.  It has the ability to compromise negotiations on price and repairs, not to mention other aspects of the transaction.  

Having your own representation in a real estate transactions simply makes sense and may save you a big stash of cents.

 

Sell Smart, Buy Wise and Live Well

Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

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PalosVerdesLifestyle - Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007.

  • Selected by Relocation.com as one of the top ten Los Angeles area real estate blogs.
  • Chosen by MovingCost.com as one of the best Los Angeles realty blogs.
  • Awarded 5 out of 5 stars by Lender411 blog review. 
  • Ranked by Technorati in the top 1% of all blogs.
  • As seen in the Daily Breeze newspaper.
  • Rancho Palos Verdes Top Real Estate Agent

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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Love, Loyalty, Listing Agent and Money
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