Buyers Don’t Have to Pay Extra for Good Service

Real Estate Guest Column

By Kay Wilson-Bolton

March 24, 2002

 

 

There’s a new trend in Ventura County real estate that troubles many REALTORS® who are members of the Ventura County Association of REALTORS®.

Most buyers know that REALTORS® earn their fee from monies paid by sellers.  There are a few innovative REALTORS® around who work as buyers’ agents and brokers and receive compensation only from the buyer.

However, many of us are seeing offers being written by agents requiring compensation from the buyer at the close of escrow as well as from the seller. It usually ranges from $750 to $3000 depending upon the price of the home

The concern is that the buyers being asked to pay this compensation are not aware that they can refuse to pay this money and are still entitled to the quality service.

Agents who work from the Multiple Listing Service are made aware of the compensation being offered by the seller and should make their buyers aware that their compensation comes from the seller.

Some buyers we have spoken to indicate that their agent said they have to pay this extra amount because of the hard work involved, or that the payment will insure them seeing all available homes in their price range instead of just a few.

With pricing rising at its current pace, the compensation paid to REALTORS® also rises. It seems unfair to many of us, and unnecessary to most of us, that any buyer would have to pay additional costs for quality service.

If you know a buyer who is being asked to pay his or her agent to show them homes, encourage them to question their agent or call the Ventura County Association of REALTORS® at 981.2100 and ask for Randy McCaslin, Executive Director, to determine if their agent is a REALTOR® and one who subscribed to the strict Code of Ethics of the National Association of REALTORS®.

A licensed agent working outside of the structure of Ventura County Association of REALTORS® is one who cannot be held accountable by our Professional Standards Committee.

Kay Wilson-Bolton is the owner and broker of CENTURY 21 Buena Vista and CENTURY 21 Ojai Valley. She is a past president of the Ventura County Association of REALTORS®.

 

 

About Kay Wilson-Boltonhttp://www.kaywilsonbolton.netWith a full-time career in real estate, I can add to your bank of knowledge, not only in real estate but in many areas of life that deal with people and relationships and choices. My real estate career has taught me many lessons about planning ahead and looking forward. I believe in helping along the way so that they can be the best they can be in any situation. I serve as a Fire Department Chaplain and Coordinator for the Many Meals Project which serves homeless and hungry families in my community. The event is far more than many meals. I make pastoral visits to the inmates in the County Jail System and offer them what God says about "all things being new" and His remarkable plan for our lives. I have served my community as Mayor and in many volunteer capacities. I serve others by serving God first. My husband is involved in prison ministry and is a graphic artist. We live a simple life in Santa Paula with an office cat named Scout, three rescued poodles and two cats at home.

Leave a Reply if you like.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s