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Thread summary:

Four Oaks: cookie-cutter houses, exact same floor plan, inspection and appraisals, contract signed

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Old 07-07-2008, 10:15 AM
 
30 posts, read 82,330 times
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Okay....I have a question. Tell me if I am a crazy person.....my husband is getting stationed at Ft. Bragg and we are going to have a house built in Four Oaks (we couldn't find anything we liked). We have not made an offer yet, but have put $1000 down to hold a lot until it gets paved and recorded, then we will make our offer. I am just curious about our Realtor, not sure if she has our best interest in mind. We spent an entire week with her (during the day that is and at night we drove EVERYWHERE and found every house we wanted to see for the next day). At first she was really trying to "push us" to a certain neighborhood, but it wasn't right for us at all...too small of lots, cookie-cutter houses, couldn't add a garage to back yard (all things that were MAJOR things for us), but she kept bringing it up and saying "don't you think that neighborhood would work" after not being able to find ANYTHING!! So, we just figured we would have to come back again and look.

We kept driving at night and finding this same builder that we liked so in the morning we told our Realtor about the houses and she took us to see the houses, again. We had found the house that we wanted and wanted to show her. So, we call the builder and he is gone til the next morning....we stay an extra day to meet with him, and see the lots. Guess what....our Realtor calls us that morning and says she won't be able to meet us at the lots to meet the builder but will be there about 30 mins later!!! Anyway....Love the builder......love the lots!!!! His Realtor and he both asked "where is your Realtor?" We decide that we love the lot and this is what we are going to do....put our $1000 down and leave to go back home.

One week later the houses in the neighborhood, our builder has, he has dropped the price another 10K!! One is our exact same floor plan!!! So, I email our Realtor and ask if that will affect us in anyway, and maybe could she do a CMA of the houses for the last 6 months and then make our offer. "No" was her reply and that it doesn't work that way, we will have to pay what the builder says and maybe even a $2500 pre-sale. Okay....

I emailed and told her that VA will do their inspection and appraisals, off the last 6 months CMA's, and that it might not appraise for what he might selling it to us for. We have had 5 VA loans since 1995, being the military we move...ALOT!!! So VA is funny alot of times. She doesn't think so, but isn't familiar with VA....we will have to see.

So I am getting very frustrated with her....I don't think she is a Buyers Agent and has our best interest at heart....I want to get the most house for my money, obviously! And when we make our offer, I don't think she is going to go to bat for us and present it in a way to benefit us.....WHAT CAN I DO?????????????
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Old 07-07-2008, 01:28 PM
 
Location: Wake Forest
2,834 posts, read 10,984,936 times
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Did you sign a contract with her? If you did sign a contract with her, and feel that she is not doing what she should be doing then talk to the broker in charge of her office. It doesn't sound like you have a contract on the house yet, just a downpayment on the lot. So, when the lot is ready, you will put a contract together (my guess is you have already picked out your floorplan, etc). There is negotiation in new construction, even if you are having the house built. Is there as much wiggle room? No. I don't know your exact situation, but I do know that builders will reduce prices of homes that are specs that are sitting in the development, they want them to sell so that they can start building the next house.

If you are feeling like your agent is not listening to you at this point, which is the beginning stages of this situation, then you need to have a serious discussion with her. And you are right about the VA and loans, you do not want to be stuck in a situation where the home does not appraise properly.

Leigh
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Old 07-08-2008, 07:03 AM
 
Location: Raleigh
1,536 posts, read 5,097,763 times
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Leigh is right you really do need to sit down and have a LONG talk with your agent. You sound like you are doing alot of your own leg work. You do need to have an agent in your camp. Sometimes all it takes is a talk and getting your feelings out to that agent just like you have on this forum. If things don't change talk to the broker in charge.
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Old 07-08-2008, 11:32 AM
 
1,489 posts, read 5,144,726 times
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It's possible the other neighborhood may have been paying higher commission rates or bonuses, and that's why she wanted to show you those. If that is the case, that is "steering", and it is illegal. Talk to your agent, find out what is going on, then talk to their broker, who ultimately represents you. The broker could always have another agent assigned to you. I'm assuming you got hooked up with this agent through a relo company?
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Old 07-09-2008, 05:59 PM
 
30 posts, read 82,330 times
Reputation: 15
My husband actually got in touch with her...via RealtyTrac....are we bad?
I totally felt like she was steering us....and I didn't get that warm and fuzzy feeling from her, from the get go. I don't mean to ***** and complain but even from the start she didn't dress professional, jeans and a t-shirt, no make-up, hair not done. Then.....we had to drive and follow her (actually she followed us most of the time ---she gets lost easily...and we knew our way around the area immediately) Guess she didn't want our kids in her car? We would of fit....not sure why that all happened? And....not to say she owes us anything, so please NOONE take offense to this...but we went to lunch everyday and she never offered to buy lunch for us!!! I know...I am just complaining cuz I am unhappy so forgive me...I will get over it!

Quote:
Originally Posted by coltank View Post
It's possible the other neighborhood may have been paying higher commission rates or bonuses, and that's why she wanted to show you those. If that is the case, that is "steering", and it is illegal. Talk to your agent, find out what is going on, then talk to their broker, who ultimately represents you. The broker could always have another agent assigned to you. I'm assuming you got hooked up with this agent through a relo company?
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Old 07-09-2008, 10:23 PM
 
Location: Raleigh, NC
11,979 posts, read 28,188,707 times
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Quote:
Originally Posted by alliecat6571 View Post
My husband actually got in touch with her...via RealtyTrac....are we bad?
I totally felt like she was steering us....and I didn't get that warm and fuzzy feeling from her, from the get go. I don't mean to ***** and complain but even from the start she didn't dress professional, jeans and a t-shirt, no make-up, hair not done. Then.....we had to drive and follow her (actually she followed us most of the time ---she gets lost easily...and we knew our way around the area immediately) Guess she didn't want our kids in her car? We would of fit....not sure why that all happened? And....not to say she owes us anything, so please NOONE take offense to this...but we went to lunch everyday and she never offered to buy lunch for us!!! I know...I am just complaining cuz I am unhappy so forgive me...I will get over it!
This is WHY I don't have my clients sign buyer's agency with me until they decide AND I decide that we work well together!!!

Vicki
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Old 07-10-2008, 07:18 PM
 
Location: Raleigh
1,536 posts, read 5,097,763 times
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Quote:
Originally Posted by VickiR View Post
This is WHY I don't have my clients sign buyer's agency with me until they decide AND I decide that we work well together!!!

Vicki
Vicki I do the same thing. Sometimes I'm like OH YAH the buyer agency agreement. lol
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Old 07-10-2008, 09:42 PM
 
Location: Raleigh, NC
11,979 posts, read 28,188,707 times
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Quote:
Originally Posted by DebbieF View Post
Vicki I do the same thing. Sometimes I'm like OH YAH the buyer agency agreement. lol

It cracks me up when one of the new agent's in my office has a client and has them "sign up"! I wonder what happens after a few hours in the car and both parties have decided that working together is not for them! She is as bound to them as they are to her! Before I "marry" my client...I want to "date" first!!!

Vicki
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Old 07-11-2008, 05:04 AM
 
Location: Cary, NC
33,346 posts, read 57,859,649 times
Reputation: 32075
Quote:
Originally Posted by alliecat6571; [COLOR=red
4395307]My husband actually got in touch with her...via RealtyTrac....are we bad? [/color]
I totally felt like she was steering us....and I didn't get that warm and fuzzy feeling from her, from the get go. I don't mean to ***** and complain but even from the start she didn't dress professional, jeans and a t-shirt, no make-up, hair not done. Then.....we had to drive and follow her (actually she followed us most of the time ---she gets lost easily...and we knew our way around the area immediately) Guess she didn't want our kids in her car? We would of fit....not sure why that all happened? And....not to say she owes us anything, so please NOONE take offense to this...but we went to lunch everyday and she never offered to buy lunch for us!!! I know...I am just complaining cuz I am unhappy so forgive me...I will get over it!
You are not "bad."
You are just learning what it feels like to be treated "badly," like a sales "lead." You were sold like a slab of meat.

Folks don't often really understand "lead generation" dynamics and what they are doing to themselves when they go to one of these sites that sells their information to the highest bidding agent, or the only bidding agent in an area.
This certainly isn't done on the basis of "Customer Service." Lead services do not pre-screen agents beyond their ability to pay for the service.
I am routinely presented with the opportunity to buy a "Featured Agent" title for a town, neighborhood, zip code, etc.
I have never yet had one ask me about my (non-existent ) criminal background, or any other questions regarding my character. It is a two-step process: 1. Here's all the LEADS you will get. 2. Here's what you pay. Well... there is a third step, where I tell them to "Go pound sand."

Lead generation services don't care if they put you in the car with the biggest creep in the area. All they care about is collecting their fee from the creep. Then you are on your own.

1000Watt Blog: I'm not a lead
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Old 07-13-2008, 02:02 AM
 
Location: Cary, NC
1,036 posts, read 3,677,612 times
Reputation: 504
Quote:
Originally Posted by MikeJaquish View Post
Folks don't often really understand "lead generation" dynamics and what they are doing to themselves when they go to one of these sites that sells their information to the highest bidding agent, or the only bidding agent in an area.
This certainly isn't done on the basis of "Customer Service." Lead services do not pre-screen agents beyond their ability to pay for the service.

Lead generation services don't care if they put you in the car with the biggest creep in the area. All they care about is collecting their fee from the creep. Then you are on your own.

So true, the same for the Lending Tree and BankRate business models. While it may be true that "when banks compete, you win"... the question is what are the banks competing on? Are they competing for best service? best advice? best value?

They compete on who is willing to quote you the lowest rate/fees. I say quote because they can always "bait and switch" on those. Most of those online rate comparison sites could care less if there is fine print, no customer service or even fraud occuring... all they care is that the lenders paid the fees to buy your name and information.


As long as buyers and sellers focus on 1 aspect, price, instead of the various factors that make up value (price, service, integrity, experience) then this is a potential consequence.

The OP needs to let her opinions and feelings be known to the agent. They are supposed to be working for your best interest. If the agent does not listen, either take it to the broker in charge or look into firing them. The advice and service a good agent can provide is priceless, while a bad agent, lender or inspector can cost you your financial security.
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