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We just got a call from our bank stating what you guys have said. We use USAA and are in their movers advantage program so they are looking at other realtors for us and finding out if we can be released from the broker.
The effed up thing is that she has shown us every house currently on the market in the town we want to be in. We have written proof of her being the one dumping us. That should count for something.
What was Mr. FSBO offering for Broker Participation?
Quote:
Originally Posted by mic111
Actually in thinking about it she may have quit because she didn't want you to find out she didn't submit your offer or something else that would have compromised her license. If you were paying $400K for a house her 3% commission would have been $12K. That is a bucket load of money for a few weekends spent with you. Maybe the FSBO wasn't willing to pay the full amount so she was trying to steer you to a house where she got more money. We've had two realtors quit for similar reasons.
I was a FSBO seller and was only offerring a lump sum to the broker that bought the buyer. This lump sum was approx 1.5% of selling price.
I got several calls from realtors that had clients that drove by and got the flyer and told their agent they wanted to see the home. The first thing the agents wanted to know was how much would I pay to the agent. Once they were told 1.5%($5000), 100% of them decided against showing the home to their clients.
There were at least 10-15 calls from different agents. Who knows what they really told their clients.
Maybe some told their clients it was under contract (??). It could get a little uncomfortable for them to tell their client they didn't accept $5000/aka 1.5% for the broker fee. I suppose some simply told their client that the seller won't work with brokers. Who knows. I had one agent storm off mad with a confused client chasing behind her when the agent/client walked to the front door. I remember the agent shouting, "my client won't buy your home". I replied "then someone else will." Someone else did.
Another couple came to see the home on their own. They were working with a buyers agent and had signed an agreement with agent that promised the agent 3%. They brought this up on the 2nd or 3rd visit and they stated they told the agent that they were thinking about making an offer. We told them we would pay 1.5%. They said their agent told them he wanted the full 3%. They realized they would need to pay the other 1.5% and they decided against making an offer due to this. The broker never came to the home with the buyers.
Bottom line, FSBO sellers that are not paying the typically commission will be mostly boycotted by agents in some form or fashion.
Well, we emailed her asking for her to formally release us and she said good luck.
Not sure where we stand but hopefully our bank can work it out.
Dmenscha- i didn't mean to offend, let me re-word....most realtors don't truly give a crap....most. Good for you for not being one of those.
Go to her broker(her boss) and get the release in writing. You don't want to be stuck paying a commission after she's quit. Make sure she makes this release unconditional(not the standard one that excludes houses you've already seen). Good luck!
I know realtors don't tend to give a **** about their clients, it's just a check
You say this now, but previously you said you worked together for a long time and she advised you against buying properties that would not be to your advantage, using her expertise on the market, which is why you hired her. That sounds like somebody who really cared for you. Sorry, but you've lost your credibility with me. You have no idea the sacrifices an agent needs to make to be part of the USAA program. Good luck with the next agent assigned to you.
1. The realtor should have had the courtesy to call you, speaking with you in person to explain their reason(s) for parting ways. Texting shows unprofessionalism on their part.
2. NEVER give notice to your current landlord until you KNOW FOR SURE THAT YOU ARE UNDER A NEW CONTRACT (either with a new home builder, pre-owned home purchase, or new landlord). Always give your current landlord a written notice to move making sure to keep a copy for your own records. Given your renting situation, if you have a good credit history with your landlord and they don't have a new tenant under contract ask if they would extend your move-out date allowing you to stay there until you are definitely under contract for the new residence and have a definite move-in date. If you are forced to move, find a rental asking for either month-to-month or short-term (i.e. 6-months).
3. Don't buy just to buy! So what if you look at 1 or 1,000 homes! Hold out until you find what you want. What do you want to come home to everyday...a house that makes you feel like you bought the "Money Pit" house, or, your dream home? Excuse me but, isn't it a realtor's JOB to show you properties and then help you through the purchasing process!! HELLO!!!!
4. If you are real estate savy and can negotiate the small print, liens, property taxes, deed search, etc. then be your own agent. HOWEVER; I caution you just as a person is their own attorney the attorney has a fool for a client...I suggest that you do hire a realtor! There are plenty of them around. It's like when you are looking to buy a new outfit (or whatever) you shop around. Start calling real estate offices and speak with the person who would be your agent. How does that conversation make you feel? Better yet, walk into the office and get a firsthand look at them to see how professional they act. If you get a bad feeling, say "thank you for your time, but I need to go elsewhere". If you get a good feeling, say "can we view that property now".
I wasn't implying she didn't give a ****, i worded that wrong, i meant to say most realtors, if you had added the rest of the sentence you will see where i said i can't believe she would not submit an offer (meaning i trusted she would not). I trusted her and her judgement on houses, otherwise i'd be closing in a few weeks on the first place i liked! I was glad to have someone that said they cared, right up until the point i am having to deal with all this crap, now i wonder how much she truly cared if she's not even willing to let us move on, knowing enough about us to know this is an impossible situation she has left us in. She quit us.
You are right i have no idea the sacrifices they make to be a part of USAA but to be honest, she was against it from the start, saying how much they suck (i guess they are not liked in N.E according to her) to the point of setting us up with her own lender to get a second pre-approval so to be perfectly honest, i have no idea why she would want to be approved by them if she is going to steer their clients to her own lender anyway to avoid dealing with them!
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