Should leads go to buyer's agents or listing agents?
Letter to the Editor
By Inman News, Friday, February 3, 2012.Re: 'Listing syndication debate heats up' (Feb. 2)
Dear Editor:
The article quotes Phoenix real estate broker Jay Thompson, "Trust me, we get calls and emails -- seven days a week -- from people searching on this very site who think we are the listing agent for the property they are viewing. Every. Day."
There is the heart of this answer: Deception.
The buyer calls wanting the listing agent and gets a buyer's agent who can make (the buyer) think (the person he called) is the listing agent.
(It's) all for the buyer's best interest -- (that's the claim), but deception it is. And given the choice, would sellers decide that leads on their home go to someone who has not seen their home ... and really has more interest in selling buyer's agency than to sell their home?
This is the question to be answered. If sellers knew their property was being used to attract buyers for the interest of buyer's agents -- and not (specifically) for selling their property, many know that they would demand (agents who) put their interest first.
It is only a matter of time for sellers to catch on, and change will come to syndication and how buyer's agents negotiate and sell their services.
Dennis Wooff
Retired
San Tan Valley, Ariz.
| Contact Inman News: | |||
 Email |  Letter to the Editor | ||
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
You must login or register to post a comment.
Submitted by David Montgomery on February 3, 2012 - 3:09pm.
While the caller may think the advertiser is the listing agent, they are delighted when they learn they are talking to a "buyer's agent" who will be representing their interests. Up front disclosure of agency representation to inquiring buyers is appropriate and may be mandatory in some states (a good thing). The real issue is failure of the agent to disclose at the outset that the buyer may be communicating with a seller's agent. I happen to be a 100% Buyer's Agent :)
Submitted by Brian Gibson on February 3, 2012 - 3:51pm.
Deceiving ? You bet, When agents can be deemed a Pro, Trusted or Expert by buying a zipcode the public is being sold out...
Submitted by Barbara O'Connell on February 3, 2012 - 5:52pm.
I work as both a buyers and listing agent. I've never deceived anyone. Disclosure is alll that is required. If someone calls and they want the list agent, I respond that I'm not the listing agent, but that I can represent their interests as a buyers agent. If they prefer the list agent, then that's their choice at that point.
Currently I have 5 contracts with buyers, although I usually do more sellers then buyers agency. Honesty, disclosure and performance are the key to a successful transaction and referrals, which is basically how I work now. I didn't get my reputation as a buyers or list agent "deceiving" the public, rather being quite honest..".I'm not the list agent, but I can represent you as a buyers agent". When contact occurs, I find the buyers either respond to me and me to them, or not. Mostly its positive. Occasionally its not. And that's ok. It's both of our choices to work together. I request one thing of my buyer clients....loyalty. If, after taking them out once or twice, they prefer not to work with me, just tell me. It very rarely happens. Agency discloser is there for a reason....to let the public know who we represent. If we are direct, honest and fully disclose how we are working, it works.
Deceiving....I don't think my clients think I've deceived them, in fact quite the contrary....I get rave reviews.
Submitted by Brian Rayl on February 4, 2012 - 5:50am.
Hey Dennis,
The solution to this is very simple: If you want your home to be a secret, then don't list it on the MLS.
Jay Thompson's quote was in reference to his home search function that he has on his website. His website is connected to his MLS where he can display all of the homes for sale in his area, not just the ones he has listed.
The question is how did people come to find this home on his website? Some people (like Jay) do an outstanding job of optimizing their website for search engines. Some agents don't even have a website. The fact that Jay's company gets calls all of the time for these properties is not an issue of deception. It is an issue of advertising and website optimization.
He is providing consumers with a necessary tool for home buyers to find a home. The next time you are house hunting, I challenge you to not use the internet to find a home, a neighborhood, a mortgage, or an inspector. That way, you won't be "deceived".
Submitted by Fran Bailey on February 4, 2012 - 5:58am.
The buyer does not call wanting the listing agent. The buyer calls wanting information. The information will be better and more objective from an agent who does not represent the seller.
Submitted by Jay Thompson on February 4, 2012 - 11:21am.
"The buyer calls wanting the listing agent and gets a buyer's agent who can make (the buyer) think (the person he called) is the listing agent."
We NEVER (and I mean NEVER) try to make a caller believe we are the listing agent. We make it VERY clear that we are not the listing agent and will gladly help the buyer buy the home they called on, or any other home they are interested in. (Assuming, of course, they are not already working with an agent.)
Might some agents attempt to convince the caller they are in fact the listing agent? I suppose some do. But if you are going to start off your relationship with a potential client shrouded in deception, I strongly suspect you won't be in business very long.
Do we get "leads" from our sites IDX solution? Absolutely. Do I submit our listings to the IDX feed to generate leads? Absolutely not. We take listings for one reason; to sell them. Putting those listings into the IDX feeds puts them on hundreds of local agent/broker sites, where potential buyers can see them, contact their agent, and work with them to buy the home.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Brian Gibson on February 4, 2012 - 12:08pm.
Barb , I was merely stating the display of listings on IDX and third party sites is confusing and deceiving to the public . A system where " courtesy of" and contact a " Pro " ( who has no knowledge of the property) is not benefiting the general public.
Brian Gibson
http://realtydime.com/
Submitted by John Woodward on February 4, 2012 - 5:25pm.
Then why co-op the listings? There is a huge benefit to any seller to have the added exposure for their property. Instead of one agency they get the whole MLS working to sell their home. From an agency and representation perspective, the buyers deserve at least an advocate if not as a buyers agent who works for them. As a listing agent, I would prefer to have another agent working with the buyer for a whole host of reasons. It always gets to be a challenge when you hit the inevitable "bump" in the road and the two representatives (buyer and sellers agent) can advise their respective customer best if they are not worried about working both sides of the fence.
If a buyer insists on talking to the listing agent only, they should also have disclosed to them what the listing agent can and cannot do since they are working for the seller. Other than getting "both sides of the deal," I am not sure the buyer is served best by just going to a listing agent. In fact, there are a whole list of reasons why a listing agent should tread gingerly when working both sides. It's legal yes but if something goes wrong, working both sides of a real estate transaction can go real bad real fast. Trying to protect a double sided deal can land you in the trap of being the third party in the deal.
Remember back many moons ago, "Who works for the buyer?" was a popular test question. The answer to the question was "Nobody." Buyer agency is supposed to correct this and buyers should be informed first. I guess buyers still don't understand the value of having an agent on their side. It's our duty, regardless of employment, to inform, be honest, and treat all parties fairly. I just don't know how that is possible if the going gets tough.
Just an opinion :)
John Woodward
Sarasota Real Estate Group
http://www.sarasotaone.com