U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 07-12-2009, 10:24 AM
 
5,453 posts, read 4,042,456 times
Reputation: 2141

Advertisements

I just found this article and I think it is good to keep these things in mind while in that process:

10-things-your-real-estate-broker-wont-say.html: Personal Finance News from Yahoo! Finance

Have a great day,

Alex
Reply With Quote Quick reply to this message

 
Old 07-12-2009, 11:06 AM
 
Location: Cary, NC
19,689 posts, read 31,496,365 times
Reputation: 16779
Quote:
Originally Posted by algia View Post
I just found this article and I think it is good to keep these things in mind while in that process:

10-things-your-real-estate-broker-wont-say.html: Personal Finance News from Yahoo! Finance

Have a great day,

Alex
SmartMoney's poor reporting is one reason I let my subscription lapse several years ago.
Their ongoing "10 Things..." feature was poorly written years ago, and this is no improvement.
They have little clue.
They refer to "Your Real Estate Broker" in the headline, and then build some of their "10 Things" around an unrepresented client.

SmartMoney should identify an agent who will not relate these ten items. Just one agent would be a start, but rather than slandering the agent population, they should do some research and reporting.

A catchy title might bring eyes, but it doesn't mean there is value in the article.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 11:38 AM
 
3,695 posts, read 4,714,989 times
Reputation: 2175
Wow. What a bunch of malarkey.

(And I fully expect someone to give me a rep point for using the word "malarkey" in the year 2009. )

Some of it has a hint of truth - but hidden like cream filling in a crap twinkie.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 03:06 PM
 
Location: Columbia, SC
7,033 posts, read 11,161,829 times
Reputation: 3555
I second Mike and Chuck. I think #10 takes the cake. They interviewed someone who runs a FSBO company to ask if people need a Realtor? I was waiting with baited breath to read his response and I don't know about you, but I was shocked at his reply. Sellers don't need a Realtor he says, did not see that one coming.

And before anyone jumps on here and says we are saying these things because we are agents, pull up the post history up for us and you'll see we DO tell people those things.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 03:52 PM
 
5,453 posts, read 4,042,456 times
Reputation: 2141
I would like to hear from actual people, not realtors, this was not posted for realtors to comment.....this was posted for people who are interested in buying homes in this area or any other areas for that matter.......my husband had the "privilege" to work with people such as the ones mentioned in the article! and had to "fix" issues created by people that DO that type of stuff to innocent buyers/sellers.

You guys are 3 people, how many realtors are in Tampa? a Google search and there are thousands......how can you vouch for all of them????????

We sold 3 homes by ourselves.....no issues what so ever....and also bought our homes by doing our own re-search, however, not everyone does that...I think it is important for people to be informed.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 04:02 PM
 
3,695 posts, read 4,714,989 times
Reputation: 2175
Quote:
Originally Posted by algia View Post
I would like to hear from actual people, not realtors, this was not posted for realtors to comment.....this was posted for people who are interested in buying homes in this area or any other areas for that matter.......my husband had the "privilege" to work with people such as the ones mentioned in the article! and had to "fix" issues created by people that DO that type of stuff to innocent buyers/sellers.

You guys are 3 people, how many realtors are in Tampa? a Google search and there are thousands......how can you vouch for all of them????????

We sold 3 homes by ourselves.....no issues what so ever....and also bought our homes by doing our own re-search, however, not everyone does that...I think it is important for people to be informed.
Last time I checked, I was a real person too.

Here's what gets me riled up about this article ... it blatantly says - between the lines anyway - that real estate agents are always out to screw their clients.

And I'm not saying that it can't happen- but to insinuate that overall, agents are simply there to shake down their clients for as much moola as they can ... well, kinda irritates me to say the least.

Because there are far more ethical agents than there are slimeballs.

You just hear more about the slimeballs, because, well, they're slimey.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 04:07 PM
 
Location: Cary, NC
19,689 posts, read 31,496,365 times
Reputation: 16779
Quote:
Originally Posted by algia View Post
I would like to hear from actual people, not realtors, this was not posted for realtors to comment.....this was posted for people who are interested in buying homes in this area or any other areas for that matter.......my husband had the "privilege" to work with people such as the ones mentioned in the article! and had to "fix" issues created by people that DO that type of stuff to innocent buyers/sellers.

You guys are 3 people, how many realtors are in Tampa? a Google search and there are thousands......how can you vouch for all of them????????

We sold 3 homes by ourselves.....no issues what so ever....and also bought our homes by doing our own re-search, however, not everyone does that...I think it is important for people to be informed.
I am an actual person. I claim the title proudly, and will brook no denial of that status.
I'm a card-carrying member of the tribe "homo sapien," a bipedal humanoid, and blessed with enough intellect to identify lies when I see them.
Incompetent lying, as in the posted slanted and unresearched article, is hardly laudatory, and hardly a protected class.
At least it is not protected from the truth.

Congratulations on selling homes. No one would deny you that right.
I have no issue with unrepresented selling and buying of properties.
No problem with anyone's choice of representation.
But, the article you posted is sophomoric, shallow, and downright stupid.
So says "A Real Person."
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 04:08 PM
 
Location: Olympia
961 posts, read 2,563,518 times
Reputation: 709
Wow, reading this article left me wondering if I live in a parallel universe. I particularly couldn't stop shaking my head about the warning that brokers might not submit every offer that comes in if it doesn't compute to a high enough commission. If I had the time and energy, I'd write a response to Smart Money.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 04:21 PM
 
Location: Salem, OR
10,993 posts, read 18,889,531 times
Reputation: 6945
I didn't think it was that bad. Not a particularly well written article because it is too general, but not that bad.

1) Open houses are to agent's benefit. There is no big secret about that. Go on any forum and agents will tell you they don't work. I have told many a seller that I am happy to do them, but they don't sell houses. I had a seller last year ask me to do two anyway. Did two open houses for them. I find older folks tend to think open houses are the way to go. Tech savvy folks get that they are a waste of time.
2) Consumer Reports did an entire article about which agents were most likely to negotiate their commissions. This isn't a big secret either.
3) It's illegal in Oregon (and most other states) to not present offers. Not sure about Florida. Unfortunately they don't say this in the article.
4 and 5) Dual agency is banned in CO, and Oregon will be following suit shortly. This will take care of those loyalty and confidentiality issues. Maybe they should have mentioned it was banned in CO? Apparently their journalistic research skills are lacking.
6) Unfortunately situations like this occur. Agent shoot off at the mouth with misinformation. Kinda like this article does in places...
7) Cahoots? Yes there is fraud. Hardly most agents though. Some journalists have crappy ethics too, like not mentioning that CO doesn't allow dual agency. How about the doctor that carved his initials on his patients belly after a c-section. Crappy folks in every profession.
8) There are some very poorly worded addenda out there. No arguments there. I have had to correct many addenda to clarify what the heck the agent is talking about. Shame on those principal brokers for not training agents better.
9) I think this is totally bizarre and not in line with the other items. That's like saying "my agent doesn't tweet my listings. They must be useless."
10) Yes people can do it without an agent. Most people just choose not to. It is time consuming and most people don't want to spend the time to do so. I also don't know any decent appraiser that only charges $200. $350 is the cheapest I have seen out there. A good appraisal is time consuming. $200 means a desktop appraisal.
Reply With Quote Quick reply to this message
 
Old 07-12-2009, 04:26 PM
 
1,256 posts, read 1,019,355 times
Reputation: 896
I'm a real person (not a realtor) and sold the first house I owned by myself.

The article was 'spot-on' about 3 things:

1. It's very simple. All the complicated legwork is done by the closing company, not the realtor.
"Realtors want you to think it's a very complicated process requiring their technical experience". True statement.

2. Realtors are not lawyers. Realtors use State Issued Sales Contracts (which any buyer/seller can download for free) and then put their own agency logo at the top.....to make you think it's their due diligence which went into ten pages of legaleese. Also, every contract says: GET A LEGAL REVIEW BEFORE SIGNING! Costs about $75-300, but realtors don't want you to "muddy the waters". ...which brings us to the 3rd truth:

3. Realtors often muddy the waters with their intereference, excessive fees and lack of contract law education.
Buying a house is not like purchasing a used car.

Yet, most realtors have little or no secondary degreed education in this field.
Sorry Sport...getting your Gold Jacket, being a "Phoenix" or hitting the 'print' button to recieve your online/weekend seminar offical looking certificate doesn't qualify.

After many years and home purchases, I reached the obvious conclusion that you should never let someone less educated than yourself have any hand in such a large personal, financial transaction.

Last edited by amerifree; 07-12-2009 at 04:45 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top