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Old 08-18-2012, 02:30 PM
 
Location: DFW - Coppell / Las Colinas
29,917 posts, read 34,517,946 times
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Quote:
Originally Posted by TexasHorseLady View Post
I don't blackball discount brokers nor do I know anyone who does so. When I'm finding properties for my clients, who the agent is and what the co-broke is are not in the search fields, and I don't even look at the bottom of the page until it's time to call the seller to make an appointment.

That being said, when it's obvious it's a discount broker who's not even in the same part of the state, as I'm writing the offer I do indulge myself in a huge sigh because it's clear that this is more than likely going to be one of the difficult ones with twice as many cats to herd, some of them clueless. My clients will never hear any of that, or the sigh, either, of course.
That's why I asked where he got his reference, I know of no agents who blackball discount brokers.

When I'm dealing with a DB who's not in the area or presents a problem getting an offer submitted, I do discuss and educate my client on the potential problems. It does affect issues such as slow response time and the seller not understanding contracts. Usually the DB is giving reduced services and advice to the seller which can be frustrating for a buyer.
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Old 08-18-2012, 07:20 PM
 
Location: Needham, MA
6,324 posts, read 9,023,459 times
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Quote:
Originally Posted by hindukid View Post
I don't know. It seems that every other thread is somebody who hired the best known realtor in town and is not happy with them. Seems to me like realtors are like anything else. You have to do research to find quality. An expensive realtor is no necessarily good and a cheap realtor is not necessarily bad.

Like most anything success in realty is often about good marketing. I really think many of the most successful agents are just really good at marketing themselves. They are great at selling you on them but not necessarily great at selling a buyer on your house. Just like a fancy well known restaurant may not have great food and a $2 whole in the wall might have the best Tacos you have ever tasted.

I have never really been a believer in the phrase you get what you pay for. Sometimes you get way more and sometimes you get way less. I have had $100 meals that weren't great at all and $6 meals that were fantastic. I suspect the same thing applies in real estate. There are agents who everybody knows and are considered the best but they will just hand you off to their assistant and there are probably agents who are new to the game, hungry, cheap and will work harder than anybody else. They might devote all their time to you because you are their only client.

Granted I have never spent anytime looking for a quality agent but that's my impression.
I didn't say anything about hiring the agent everyone thinks is the "best" in town. I agree that those people are usually better marketers of themselves than your home. They're also usually so busy that they give their clients little attention and are more concerned about making a sale happen than doing the right thing for their client. Just my experience as someone who deals with these people on a regular basis. Of course, there are exceptions to every rule but overall this is my experience.

What I did say was that you get what you pay for when you hire an agent. I had a PM exchange recently with a City Data member local to me who was using a RedFin agent. In the course of our conversation, I asked what he thought about them and his biggest complaint was that they cover such a large service area that they don't have good local knowledge. In my opinion, local knowledge is key to making a smart buy. Of course, I've also had many dealings with discount agents and the ones I've dealt with just don't offer a very high level of service. Also, many of the so called "full service" agents in my area who discount there fee are people that I wouldn't trust further than I could throw them. They have their best interests at heart always and never their client's. Again, there are exceptions to every rule. What I'm talking about is statistical likelihood. You're more likely to find a bad discount agent than a good one at least that my observation based on my experience working in this industry day in and day out.

I absolutely agree with you though when you say that people need to do their research and not just hire the first real estate agent that's recommended to them or the one that picked up the phone at the office with the most signs around town. People need to get educated about the right way to find an agent who will actually work for you and not for themselves.

Quote:
Originally Posted by RE Skeptic View Post
Thats basically what I was saying. If you see a payout in the future, then you will deal with the extra hassle of a DB. However, if a mult offer situation offer arises, all things equal (or close to equal) you may steer you sellers away from the DB buyer.

Perhaps "blackball" was too strong of a word.



So your saying the BA commission doers not become an issue until you make the appt, what about after?
All other things being equal . . . of course I'm going to advise my client not to take the offer from the discount agent. I'm going to let my client know what my experience is with discount agents and that if they accept an offer from the DA's client that there will likely be more bumps in the road, miscommunications, and a myriad of other problems which could result in at best a lot of aggravation and at worst them having to put their house back on the market when the deal falls through. I would make the same recommendation to my client if it were a full service agent who I know from prior experience is inept. I don't blackball anyone. What I do is educate my clients about who they're dealing with so that they go into a transaction with their eyes wide open. My experience and my knowledge is part of what people are hiring me for. Why would I withhold information that could benefit my client?

I've also had my sellers in the past suggest/state that working with a DA says something about you as a buyer. They feel that it says you're looking to save a buck where ever you can. People who are trying to sell something don't want to work with someone they perceive as cheap or penny pinching. If you're in a competitive situation this kind of perception is not going to give you a leg up. Again, this is not my perception it's based on statements from my clients about their perception of buyers who work with DA's.
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Old 08-20-2012, 09:36 AM
 
119 posts, read 218,741 times
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I think you'll be fine without a buyer's agent in your situation. You seem to know enough to know what is fairly priced and when to walk away. Also, this will be really rare, but there may be a FSBO house that's a great deal that you can take advantage of without an agent. Only problem is, most FSBOs are so overly priced so this may not be an issue.
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