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Old 03-23-2018, 12:54 PM
 
Location: PVB
2,387 posts, read 1,207,731 times
Reputation: 2765

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Since the other thread I started is getting really long I will start a new one.

When a customer is buying a house and the Agent tells them how much to offer, should the customer trust them? There area a few factors entering into this decision. The first is, the agent wants to make a sale, since if there is no sale there is no commission. Does the agent have your best interests in mind? Maybe and maybe not, it depends of the agent. You might hear"you better move fast this one will go quickly" or "You should offer close to asking so the seller just does not refuse to counter" or "Don't come in to low or you may lose this one" or "The market is hot, don't take too long to decide"

I will give you 2 examples of what happened to us. First we were looking at a home. The listing price was $525 and the agent told us to submit a full price offer. We declined and it sold for $490. I also noticed some problems with the slab where a section of the floor tile was regrouted. The agent poo-poohed the idea there was a problem. The was also a problem with the roof as well. Another time we looked at a house and liked it a lot. The asking price was 525k and our agent (a different one) told us to hurry and get an offer in before the weekend. They said offer 505k and we would get it for 515k. We decided to think about it and returned the following week to take pictures for a potential pool. The asking price had dropped to 499k (lucky we waited) we saw a FSBO across the street that had sold for 325k and it was a bit smaller. At this point we decided not to buy in that community and the house eventually sold for 425k (90k less than we were told to offer). After this we decided to look on our own and met an awesome agent at a open house who really took excellent care of us and we are very happy. They managed to save us money on the house by offering less than I was going to offer and to be patient. They also got all the repairs done the house needed, including a new roof. They missed a few things that will need replacing, but we knew that going in.
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Old 03-23-2018, 01:06 PM
 
Location: Raleigh NC
7,749 posts, read 6,110,007 times
Reputation: 6867
this is really no different than your other thread. wee have many threads that stretch for pages and months sometimes.

Any time you write an offer and YOU'RE baffled at price, then you should be given comps and some discussion of why the house is priced where it is and whether that's an attainable price. And then make an initial offer at a price that are now comfortable with.
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Old 03-23-2018, 01:10 PM
 
1,511 posts, read 563,734 times
Reputation: 2944
I’m also calling bull**** on your stories. You’re either the worst judge of professionals ever, have no clue how to learn about the real estate process, or trolling.
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Old 03-23-2018, 01:22 PM
 
Location: Los Angeles (Native)
24,147 posts, read 13,668,407 times
Reputation: 11353
On the house that sold for $425k how much time passed ?

It’s possible they still would of rejected your offer at the time and just got fed up .

No agent can know for sure exactly the lowest offer a seller will accept . Every market is different . In the L.A market properties are often selling over list price .
At the end of the day it’s your money so you need to offer what you are willing to pay.

Really need to study the comps it’s easy now with Redfin , Zillow etc even if you don’t have MLS access.
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Old 03-23-2018, 01:45 PM
 
Location: Athol, Idaho
2,182 posts, read 1,055,031 times
Reputation: 3184
I'm getting the impression the OP buys a house every other week and always has a new story to tell.
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Old 03-23-2018, 02:28 PM
 
10,265 posts, read 6,491,094 times
Reputation: 10837
Quote:
Originally Posted by Thundarr457 View Post
Since the other thread I started is getting really long I will start a new one.

When a customer is buying a house and the Agent tells them how much to offer, should the customer trust them? There area a few factors entering into this decision. The first is, the agent wants to make a sale, since if there is no sale there is no commission. Does the agent have your best interests in mind? Maybe and maybe not, it depends of the agent. You might hear"you better move fast this one will go quickly" or "You should offer close to asking so the seller just does not refuse to counter" or "Don't come in to low or you may lose this one" or "The market is hot, don't take too long to decide"

I will give you 2 examples of what happened to us. First we were looking at a home. The listing price was $525 and the agent told us to submit a full price offer. We declined and it sold for $490. I also noticed some problems with the slab where a section of the floor tile was regrouted. The agent poo-poohed the idea there was a problem. The was also a problem with the roof as well. Another time we looked at a house and liked it a lot. The asking price was 525k and our agent (a different one) told us to hurry and get an offer in before the weekend. They said offer 505k and we would get it for 515k. We decided to think about it and returned the following week to take pictures for a potential pool. The asking price had dropped to 499k (lucky we waited) we saw a FSBO across the street that had sold for 325k and it was a bit smaller. At this point we decided not to buy in that community and the house eventually sold for 425k (90k less than we were told to offer). After this we decided to look on our own and met an awesome agent at a open house who really took excellent care of us and we are very happy. They managed to save us money on the house by offering less than I was going to offer and to be patient. They also got all the repairs done the house needed, including a new roof. They missed a few things that will need replacing, but we knew that going in.
I like your thread you offer unique insight and your own view. Some have their own interests in mind, some have yours. You can get a feel for people and tell after a while if they are honest or not. The dishonest ones will be more pushy.

RE Agents hate to be called out so a lot of the flack will come from them, so ignore it.
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Old 03-23-2018, 03:02 PM
 
6,359 posts, read 7,321,320 times
Reputation: 10807
Quote:
Originally Posted by Thundarr457 View Post
Since the other thread I started is getting really long I will start a new one.

When a customer is buying a house and the Agent tells them how much to offer, should the customer trust them?
I haven't bothered to read your other threads but, no, a "customer" should not put their full faith into a salesperson who is trying to sell a house. If you've been dealing with Listing Agents (who represent the Seller), stop that practice immediately. If an agency relationship is established, you have a better chance of working with someone who is trying to help you to make the right decisions. It's still your responsibility to make any and all decisions. Use common sense.

Since your post makes no mention of it, I have no idea if you have been dealing with true "agents" who are working to represent your interests, or if you've merely been working with Listing Agents who you happened to meet at an Open House or wherever. Your use of the term "customer", as opposed to "client", makes it all suspect.
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Old 03-23-2018, 03:26 PM
 
1,528 posts, read 724,410 times
Reputation: 2062
Quote:
Originally Posted by jackmichigan View Post
I haven't bothered to read your other threads but, no, a "customer" should not put their full faith into a salesperson who is trying to sell a house. If you've been dealing with Listing Agents (who represent the Seller), stop that practice immediately. If an agency relationship is established, you have a better chance of working with someone who is trying to help you to make the right decisions. It's still your responsibility to make any and all decisions. Use common sense.

Since your post makes no mention of it, I have no idea if you have been dealing with true "agents" who are working to represent your interests, or if you've merely been working with Listing Agents who you happened to meet at an Open House or wherever. Your use of the term "customer", as opposed to "client", makes it all suspect.
To be fair, the distinction between client and customer is lost on most people. i don't know of any other industry who uses client and customer in quite this way.

I would not tell a consumer to stop dealing directly with selling agents 'immediately'. The important thing is that consumers understand who they are dealing with and not misunderstand if/how their interests are being looked after. In most countries in the world, there is no such thing as buyer's agents and buyers deal directly with the seller's agent. People survive because they know they are dealing with a sales person who is working for the seller. Simple and easy. Truth in packaging. There is nothing inherently wrong with this and it's just how it works in most places outside of the US. I do think it's extreme to advise people to stop doing this 'immediately'. Just my opinion.
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Old 03-23-2018, 03:46 PM
 
6,359 posts, read 7,321,320 times
Reputation: 10807
Quote:
Originally Posted by just_because View Post
To be fair, the distinction between client and customer is lost on most people. i don't know of any other industry who uses client and customer in quite this way.

I would not tell a consumer to stop dealing directly with selling agents 'immediately'. The important thing is that consumers understand who they are dealing with and not misunderstand if/how their interests are being looked after. In most countries in the world, there is no such thing as buyer's agents and buyers deal directly with the seller's agent. People survive because they know they are dealing with a sales person who is working for the seller. Simple and easy. Truth in packaging. There is nothing inherently wrong with this and it's just how it works in most places outside of the US. I do think it's extreme to advise people to stop doing this 'immediately'. Just my opinion.
Based upon their description, if they have been working with Listing Agents I stand by my recommendation that they discontinue doing that. They will have a better chance of getting someone to look after their interests if they enter into an agency agreement with a Buyer's Agent. Even with a Buyer's Agent they need to trust but verify.
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Old 03-23-2018, 05:15 PM
 
Location: Raleigh NC
7,749 posts, read 6,110,007 times
Reputation: 6867
Quote:
Originally Posted by LifeIsGood01 View Post
I like your thread you offer unique insight and your own view. Some have their own interests in mind, some have yours. You can get a feel for people and tell after a while if they are honest or not. The dishonest ones will be more pushy.

RE Agents hate to be called out so a lot of the flack will come from them, so ignore it.
well, I don't like to be "called out" personally without real cause. I don't like to get lumped in as being the same as the other ~ 2MM licensees throughout the country. I have agreed many times that there are a LOT of agents who folks shouldn't choose for their (lack of) professional expertise in representing people properly.

And I feel badly for the OP that they've bought so many homes and never figured out how consistently to identify a good agent to represent them.
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