Send in the C Team [Now, You Know]

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by Osman Parvez
---Commission rule E-38; Listing Agreements by Teams.

 "The individual team member(s) entering into the listing contract is the seller's designated agent or transaction-broker, whichever is appropriate, in which case that designation and brokerage relationship shall apply to all members of the team."   (emphasis added)

Let's say you call a Realtor who is a member of a team and ask about a house which, unbeknownst to you,  is listed by someone else on their team.   Guess what?   Since most listings on the MLS are done by designated seller's agents (not transaction brokerage), the agent you're talking to on the phone is very likely required to represent the seller.    They're probably not a neutral party.

Pro-tip:  hold your cards close to your vest until you've clearly understood the agency relationships.  Do not share your motivations to buy or sell.   Do not tell them confidential information such as your price range or your time frame.   The first time you meet an agent, they should be providing you a disclosure called Definitions of Working Relationships.  This explains the agency relationship.

I know that it's fun to look at listings online, but think twice before you schedule an appointment with the listing agent.  Take time to shop for a buyer's agent, first.  Get yourself represented and utilize the services of someone who negotiates for buyers, and protects the interest of buyers, exclusively, on dozens of transactions a year.    The seller is represented by an agent.  You should be too.

For the record, I'm not on a team because it mandates a lower standard of service for my clients.

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---Note: Our goal is to provide exceptional service to our clients. The ideas and strategies in this blog post are the opinion of the writer at the time of publication. Silver Fern Homes recommends careful and complete due diligence before buying or selling real estate or other investments. Consult with your professional advisers before making financial decisions. This article is not intended as legal, tax, or investment advice. Silver Fern Homes will not be held liable for investment choices derived from this article.