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Old 06-05-2008, 07:34 AM
 
Location: Cary, NC
31,034 posts, read 54,315,552 times
Reputation: 29530

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Quote:
Originally Posted by Lisalrenee View Post
Nope - no mention of the status until my agent called to let them know to look for an offer. The kicker - for both of us - is that my offer was better!
Ouch.....
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Old 06-05-2008, 07:53 AM
 
103 posts, read 66,837 times
Reputation: 36
Quote:
Originally Posted by MikeJaquish View Post
All inaccurate, and completely irrelevant to Seller client service.

That Listing Agent's duty is to the Seller, to assure that the property is marketed properly, and to press that until it closes.

Buyers have their own decisions to make, and should do with the best information available.
Mike, I am not trying to ruffle your feathers on this, but there ARE two sides to every sale. It seems you are speaking very forcefully from the typical salesman mentality, rather than looking at the clients best interest............both seller and buyer. My point is that the buyer should be very careful, as your comments are showing that the Realtor is out for the sale, which obviuosly benefits both the seller and the Realtor. I am sure you are a very good realtor who tries to do the right thing all the time, however not all Realtors are like that. Realtors are people too and people can be greedy and do the wrong thing. This is why some states have changed the way Realtors can market properties. It is to protect the buyer. By your comments, it makes it appear that the most important thing is for the sale to happen for the seller and for the Realtor's wallet, but that is not the entire picture. The buyer is just as important and their rights need to be protected, also.

If the only point of leaving the property on the market is for backup offers, then why would it be a problem to have it clearly and obviously marketed that way? Why does it need to be marketed in a way that makes potential buyers think that it is still on the market without any deal in the works? I think I have made it clear why. Bait & switch or at the very least, just another way to network.

Although I am not currently practicing in NC, I have gone to RE school. The number one thing we were taught was to network. We were trained to make as many contacts as possible and keep their information. This is why the sign stays up so long and why in states where it is allowed, the listing stays active. That is the cold hard fact from someone that knows and is willing to admit it.

Last edited by West_Raleigh_Guy; 06-05-2008 at 08:11 AM.. Reason: typo's
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Old 06-05-2008, 08:00 AM
 
Location: Morehead City, NC
1,676 posts, read 5,175,942 times
Reputation: 1224
Can I "Bingo" MikeJaquish's, "Bingo"??

Bill
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Old 06-05-2008, 08:08 AM
 
103 posts, read 66,837 times
Reputation: 36
Quote:
Originally Posted by Lisalrenee View Post
Nope - no mention of the status until my agent called to let them know to look for an offer. The kicker - for both of us - is that my offer was better!

Sorry to hear about what happened to you. This is why the buyers voice needs to be heard and why it may be a good idea to pass legislation to protect the buyer, because many Realtors won't.
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Old 06-05-2008, 08:12 AM
 
Location: Cary, NC
31,034 posts, read 54,315,552 times
Reputation: 29530
Quote:
Originally Posted by West_Raleigh_Guy View Post
Mike, I am not trying to ruffle your feathers on this, but there ARE two sides to very sale. It seems you are speaking very forcefully from the typical salesman mentality, rather than looking at the clients best interest............both seller and buyer. My point is that the buyer should be very careful, as your comments are showing that the Realtor is out for the sale, which obviuosly benefits both the seller and the Realtor. I am sure you are a very good realtor who tries to do the right thing all the time, however not all Realtors are like that. Realtors are people too and people can be greedy and do the wrong thing. This is why some states have changed the way Realtors can market properties. It is to protect the buyer. By your comments, it makes it appear that the most important thing is for the sale to happen for the seller and for the Realtor's wallet, but that is not the entire picture. The buyer is just as important and their rights need to be protected, also.

If the only point of leaving the property on the market is for backup offers, then why would it be a problem to have it clearly and obviously marketed that way? Why does it need to be marketed in a way that makes potential buyers think that it is still on the market without any deal in the works? I think I have made it clear why. Bait & switch or at the very least, just another way to network.

Although I am not currently practicing in NC, I have gone to RE school. The number one thing we were taught was to network. We were trained to make as many contacts as possible and keep their information. This is why the sign stays up so long and why in states where it is allowed, the listing stays active. That is the cold hard fact from someone that knows and is willing to admit it.
I am not ruffled.
I feel the need to respond, as this wonderful forum allows anyone to mislead others with erroneous postings like those to which I have responded.

I am NOT the one focused on my wallet. I haven't mentioned it, referred to it, or thought of it.
As a licensed agent, and a Realtor, the first priority is to my client.
If I perform my functions properly, I rest easy.

To this point we have not discussed Dual Agency, which is a tangential to discussion so far. If I am "...looking at the clients best interest............both seller and buyer.", unquestionably, I am practicing Dual Agency. Sloppily, but still Dual Agency.
I have done Dual Agency, but don't aggressively seek it.
Dual Agency is something we studied in Real Estate School.

See, I went to Real Estate Licensing School, too.
(And I do practice actively, including accessing Continuing Education.)
We were NOT taught that networking is number 1.
We were taught the meaning of agency as our primary focus, and how to practice agency in the real world to serve the client.
We dealt at length with agency law and practice, and the meaning of "fiduciary duty."
I am absolutely comfortable with that primary focus from the J Y Monk real estate school.
If the focus had been on networking, I would likely have complained to the NC REC, and probably would have flunked the licensing test.

Is the meaning of agency a secondary consideration to learning about networking at some schools? How do they keep their licenses to instruct?

http://www.ncrec.state.nc.us/pdf/brochures/WorkingwAgents-8.5x14.pdf (broken link)

Last edited by MikeJaquish; 06-05-2008 at 09:15 AM..
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Old 06-05-2008, 08:25 AM
 
Location: Cary, NC
31,034 posts, read 54,315,552 times
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Quote:
Originally Posted by Bill Hitchcock View Post
Can I "Bingo" MikeJaquish's, "Bingo"??

Bill
Any time, Bill!
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Old 06-05-2008, 08:53 AM
 
3,031 posts, read 8,086,066 times
Reputation: 827
I have been on both sides of this equation. We had a sale fall through on a house in Portland many years ago because the agent took the house of the market before the final deal was inked. We were irked. We lost valuable marketing time AND we had to back out of an offer we'd made on another house. I couldn't do anything about what I felt was shoddy behavior on behalf of the real estate agent. We resolved to check-and-double check from here on out. She told us the buyers were pre-approved when in fact they were only pre-qualified and the deal fell through because they couldn't get financing.

So now we write PRE-APPROVED buyers' offers only in our contracts.

On the other side of the coin, when we first moved to MA, we saw a house that we fell in love with and put an offer on it. It was over a week before the agent got back to us to tell us the house was already under contract. I know she waited that long to see if the other deal was going to go through. In the meantime, we suspended our home search and another house in which we were interested but didn't write up an offer (because we thought our offer was first in line for the other house) went under contract within that time.

In my opinion, shoddy behavior from both agents. It's made us very particular about who we work with from here on out.
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Old 06-05-2008, 09:59 AM
 
3,031 posts, read 8,086,066 times
Reputation: 827
Quote:
orphaned
Moderator cut: quote you are referring to has been removed Just like anything else 'buyer beware' is the key to success. There are a lot of Realtors out there and most of them are probably pretty darned good. But the bad apples are also out there and doing your homework will help you avoid them. There's no law that says you can only interview and then must hire ONE agent. You can interview 20, if that's what it takes to find the one you like.

(Got the cap Q to work!)

Last edited by autumngal; 06-05-2008 at 11:00 AM..
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Old 06-05-2008, 10:05 AM
 
9,552 posts, read 26,166,990 times
Reputation: 9659
Quote:

orphaned
Moderator cut: quote you are referring to has been removed

Sellers get a realtor you trust and respect. He/she will protect your interests.
Buyers get a realtor you trust and respect. He/she will protect your interests.

Common sense should never be underestimated.

Anecdotal evidence of sloppy realtors is no more relevant than stories about bad dentists, mechanics, or barbers. There are poor performers in all professions across the board, from Presidents to the guys who use to hand out change at the video arcade.

They key is too choose the ones who know their job and responsibilities, do their job, and most importantly …. do their job well!

Last edited by autumngal; 06-05-2008 at 11:02 AM..
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Old 06-05-2008, 10:13 AM
 
Location: Cary, NC
31,034 posts, read 54,315,552 times
Reputation: 29530
Quote:
Originally Posted by North_Raleigh_Guy View Post
orphaned

Sellers get a realtor you trust and respect. He/she will protect your interests.
Buyers get a realtor you trust and respect. He/she will protect your interests.

Common sense should never be underestimated.

Anecdotal evidence of sloppy realtors is no more relevant than stories about bad dentists, mechanics, or barbers. There are poor performers in all professions across the board, from Presidents to the guys who use to hand out change at the video arcade.

They key is too choose the ones who know their job and responsibilities, do their job, and most importantly …. do their job well!
From a feller with a clue!
But... can you network?

Last edited by autumngal; 06-05-2008 at 11:02 AM..
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