Helenium_autumnale t1_ise4966 wrote on October 15, 2022 at 7:34 AM

Reply to comment by BrightLuchr in Real Estate Agents Caught on Camera Facilitating Mortgage Fraud for a Fee by Puzzleheaded-Bug7189

It's a holdover from the pre-Internet age, like travel agents. We don't need them. They're parasites who often know nothing about the properties they're showing (in my recent experience; my middling research found a problematic sewer field though the house salesman had no idea where it was located) who nevertheless want to siphon off some money. Useless people.

BrownienMotion t1_iseihmn wrote on October 15, 2022 at 10:58 AM

Imo there is a huge conflict of interest, the selling realtor is supposed to represent the buyer but is compensated by the buyer paying more money.

MutantMartian t1_isez2a6 wrote on October 15, 2022 at 1:47 PM

The agent for the buyer is representing the buyer but is compensated more by the buyer spending more money. I think that’s what you meant. This is why they don’t negotiate.

BrownienMotion t1_isf2e2n wrote on October 15, 2022 at 2:14 PM

In my state, the agent representing the buyer is technically called the "selling agent", whereas the seller's agent is the "listing agent". Most people probably refer to them as buyer/seller's agent, but I think it's important to make the emphasis that the selling agent (representing buyer) is trying to sell them properties.

Source: I thought the system was broken so I got a real estate license and found out it was even worse than I had thought.