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Old 12-21-2006, 06:12 AM
 
9,053 posts, read 18,102,545 times
Reputation: 8318
Default Why do some people use "Shady" realtors when trying to sell their house?

I am not trying to offend anyone. I am just constantly amazed at the number of homes that I see for sale that are represented by some strange named real estate company. I always thought there were two main avenues to go if you are selling a home. 1) Sell it FSBO or 2) Hire a reputable realtor to sell it for you, whether it be an independent realtor or one from one of the large real estate companies that have demonstrated success in your area.

When I was buying a home our agent set up appointemnts for us to see four houses one day. THe first three went fine, at the third house however, the lisitng sellers agent had forgotten to leave the key to get in. Repeated calls from our agent to locate the key went unanswered and we ended up leaving without seeing the house. If I was the sellers I would be furious that potential buyers were turned away.

THere is a house for sale in my neighborhood right now with a real goofy looking real estate company sign in the yard. I was nosey and checked the listing online, (Had to check through another website because their realtor didn't have one listed on the sign) and the listing description is filled with blatant exagerations. Everyohome in this neighborhood is situated on .10 acres but somehow this house is listed as having .25 acres. Must be a christmas miracle!
Anyway, I am not trying to bash this house. Just wanted to vent about how I don't understand why people would put their trust with such second rate companies when it is dealing with the largest investment of their life!

 
Old 12-21-2006, 06:48 AM
Status: "I am not Groot." (set 7 days ago)
 
Location: Cary, NC
19,248 posts, read 29,661,940 times
Reputation: 16052
The Law of Business

By John Ruskin
(1819 - 1900)

"There is hardly anything in the world that someone cannot make a little
worse and sell a little cheaper, and the people who consider price alone
are that person's lawful prey."
 
Old 12-21-2006, 07:36 AM
 
1,531 posts, read 5,128,189 times
Reputation: 433
I don't know much about shady real estate agents...but there is no way they can be more shady than most developers are!
 
Old 12-21-2006, 07:56 AM
Status: "I am not Groot." (set 7 days ago)
 
Location: Cary, NC
19,248 posts, read 29,661,940 times
Reputation: 16052
Well, to finish off the big Three, I would submit:

Shady Mortgage Lenders

Caveat Emptor!

But really, it is a fascinating discussion about how to select a Realtor or Lender.
The most misleading cliche in personal economics is, "You get what you pay for."
Court dockets are packed with complainants who believe they didn't.
I'm a firm believer in the inverse of the above quote, "If you don't pay for it, you won't get it." I.e., there is no free lunch.

There are great, and less great, agents in full service and limited service brokerages.

Two to avoid:
1. The agent who thinks they have a birthright to an X% commission, regardless of performance.
2. The agent who has nothing or little of value to offer other than cheapness of price.

Service providers with real talent in any field don't have to advertise and discuss price first, IMO.
 
Old 12-21-2006, 08:09 AM
 
Location: Raleigh, NC
10,326 posts, read 17,141,726 times
Reputation: 5986
Quote:
Originally Posted by North_Raleigh_Guy View Post
I am not trying to offend anyone. I am just constantly amazed at the number of homes that I see for sale that are represented by some strange named real estate company. I always thought there were two main avenues to go if you are selling a home. 1) Sell it FSBO or 2) Hire a reputable realtor to sell it for you, whether it be an independent realtor or one from one of the large real estate companies that have demonstrated success in your area.

When I was buying a home our agent set up appointemnts for us to see four houses one day. THe first three went fine, at the third house however, the lisitng sellers agent had forgotten to leave the key to get in. Repeated calls from our agent to locate the key went unanswered and we ended up leaving without seeing the house. If I was the sellers I would be furious that potential buyers were turned away.

THere is a house for sale in my neighborhood right now with a real goofy looking real estate company sign in the yard. I was nosey and checked the listing online, (Had to check through another website because their realtor didn't have one listed on the sign) and the listing description is filled with blatant exagerations. Everyohome in this neighborhood is situated on .10 acres but somehow this house is listed as having .25 acres. Must be a christmas miracle!
Anyway, I am not trying to bash this house. Just wanted to vent about how I don't understand why people would put their trust with such second rate companies when it is dealing with the largest investment of their life!
I'm in love! Hey North Raleigh Guy, the truth is this...there are a ton of "discount brokers" out there and you DO get what you pay for. I'm always amazed when I have clients on a Saturday and we write up an offer and I attempt to call the listing agent only to get a recording saying they won't be back in the office until "Monday at 9AM".

Or when I call the listing office and find out that I have to negotiate with the seller as this is something the company doesn't do!

I once called the listing office only to find out that they seller had decided to pay the selling agent (me) a $1. I was then told by the agent that I could "ask the seller to pay my commission or I'd have to get it from my buyer". Well, needless to say...none of the agents in my office even attempted to show those listings! That company has now changed that policy.

Ok...I could go on and on but I won't. I'm just so excited that a mere mortal man has the good sense to say what he has said and that I agree 100%!!!

Vicki
 
Old 12-21-2006, 09:56 AM
 
1,694 posts, read 2,993,268 times
Reputation: 1192
I'm sure there are some good independent brokerages that do a good job. I have worked with some of these before. They may not have a big name like Coldwell Banker or Long & Foster, but they are often very competent.
 
Old 12-21-2006, 02:24 PM
 
Location: Peoria, AZ
1,064 posts, read 1,504,099 times
Reputation: 415
Thumbs up Realtors

Quote:
Originally Posted by VickiR View Post
I'm always amazed when I have clients on a Saturday and we write up an offer and I attempt to call the listing agent only to get a recording saying they won't be back in the office until "Monday at 9AM".
Its not a bad thing for the sellers of a home to wait until Monday to review offers. Waiting usually benefits the seller.

Buyers agents are always in a hurry for an answer because they are worried if they have to wait a day or two for a response that the house may have more time for more showings and potential multiple offers. The angst you feel when you don't get a quick answer is more related to YOU wanting to wrap a deal up than what is better for the "seller". People reading should understand that the buying & listing side are in direct opposition... Whats good for the seller is generally not good for the buyer.

For instance, listing agents that don't present until Monday are aware that although you wrote an offer Saturday, three more showings are happening on Sunday... How are you best representing your seller by rushing to accept the first offer when you know more 3 more buyers are coming the next day?

I understand making a buyer wait could cause them to go elsewhere, but if they would walk away from the house because they have to wait 24-36 hours, then they weren't very interested in the first place... On the other hand, if they really like it, the anxiety of waiting usually causes buyers to make a better offer.

Speedy presentation & acceptance of offers is a benefit to the buyer. Good buyer's agents will try to PUSH for a quick response, but those listing agents that wait to present an offer are NOT doing their sellers a disservice by allowing the full weekend for showings...

On top of that, experienced realtors that have found a way to get some balance with a day or two off are generally much happier people and more productive than a harried & desperate overworked basket case agent.

Last edited by cmist; 12-21-2006 at 02:45 PM..
 
Old 12-21-2006, 02:41 PM
Status: "I am not Groot." (set 7 days ago)
 
Location: Cary, NC
19,248 posts, read 29,661,940 times
Reputation: 16052
cmist,
A nugget of truth to what you say, but...
Too many preapproved relo's come to town with the express intent of leaving Sunday evening with a signed contract. Every weekend. Very high level of interest.
An offer that is held over the weekend, meaning likely until Monday night, is not workable for those buyers who must buy SOMETHING. There is enough inventory, unless the desire is for something unique, that holding off can cost the seller the deal.
So, one can say, "Well, they just weren't that interested." Or one can be pro-active, know what is an acceptable offer, and grab it when it is presented.
 
Old 12-21-2006, 02:48 PM
 
9,053 posts, read 18,102,545 times
Reputation: 8318
I am not an agent, so maybe I will get slammed for this, but if I had to sell my house I wouldn't be thrilled if my agent was regularly not available on Saturday or Sundays to recieve offers from people looking at my house. From what Vicki described in the above scenerio, the agent was not even available to pass along the offer to the sellers so they could consider it until monday...sounded like the offer would not even be noticed until monday. I realize agents have a life and some people only do it part time, but I would like to think that when I sell my house in the future my agent will be availble more often than not when offers come in. A lot of transplants come down here with only one weekend to look at houses and want to take care of business. I realize the sellers have agendas too, but I could see buyers moving on if a sellers agent isn't even available to recieve offers on the one weekend they are down here. The offer we put in on our house had a 24 hour exoiration. If the agent wasn't available and the sellers didn't get it until a day or too later I would feel like they are playing games and would be less likely to negotiate. Anyway, that is just my opinion.
 
Old 12-21-2006, 02:49 PM
 
Location: Raleigh, NC
10,326 posts, read 17,141,726 times
Reputation: 5986
I'd have to say...a very "small nugget".

I know my sellers and I know my buyers. If an offer comes in on Saturday, I'm going to present it to my sellers. I'm not going to hold it and hope that more showings happen as thats not "my call". That sounds like you are playing games and I do not do that with my sellers or my buyers.

But I do like the idea of taking a few days off! And I do that. However, if I have my out of town clients, I'll happily work with them on Sat. or Sun. and take Tues. and Wed. off. I haven't been called "a basket case Realtor"...YET!

However...the day isn't over and I AM negotiating an offer with a builder and leaving shortly for a dinner with a friend and some Christmas shopping so maybe I'll be a "basket case" tomorrow!!!

Vicki
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