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I don't think that's fair. There are some realtors on here that are giving their honest,educated opinion. Once you've figured out who those are (Capt. Bill is one) it's your choice what to do with the information/opinion. No one has to take it.
Now you may not agree with it or it may not jibe with your idea of what's going on but your opinion is no more valid than theirs with one exception. Theirs comes from recent real time experience. Yours?
Kinda like going to a surgeon who tells you he needs to operate. You say "of course he wants to operate, he has a vested interest in operating" so you don't let him and keel over. Just because a person has a vested interest (makes a living at the profession) doesn't automatically mean their lying or skewing things, that's using a really wide brush to paint a whole group don't you think?
I'm not picking on you specifically, just these posts that (imo) are thinly veiled accusations that all realtors are self centered crooks instead of posting evidence refuting what's said.
I speak from experience. I have owned 16 homes in 7 different states, only 4 of the 16 realtors had my best interests at heart.
Not all realtors are bad, some are great, but a good number are only interested in commissions and marginal at doing their homewrok. Agree Capt Bill is helpful, need to be more like him.
I don't think that's fair. There are some realtors on here that are giving their honest,educated opinion. Once you've figured out who those are (Capt. Bill is one) it's your choice what to do with the information/opinion. No one has to take it.
Now you may not agree with it or it may not jibe with your idea of what's going on but your opinion is no more valid than theirs with one exception. Theirs comes from recent real time experience. Yours?
Kinda like going to a surgeon who tells you he needs to operate. You say "of course he wants to operate, he has a vested interest in operating" so you don't let him and keel over. Just because a person has a vested interest (makes a living at the profession) doesn't automatically mean their lying or skewing things, that's using a really wide brush to paint a whole group don't you think?
I'm not picking on you specifically, just these posts that (imo) are thinly veiled accusations that all realtors are self centered crooks instead of posting evidence refuting what's said.
There were realtors involved in 99% of the transactions that have wound up in foreclosure....they get some of the blame. You just can't tell me prices are solid when somebody just lowered there price by 1/3 on a home on one of the top golf courses in the US, and it is a beautiful home.
There's a large pack of vultures out, that's the only conclusion that can be made from the sales activity. I was trying to get a friend to buy 337 E. Clarendon, 85012--it was listed for 49,000. Very solid brick house. Very close to the Light rail. Good lot, needed very little work. HSBC was the seller. It took about 6 weeks to sell, and the price: 42K to an investor from Iowa--good for him. The for rent sign is up, before the Assessor data has been updated. Probably getting 950+, well over 2%. That's how it's done. Someone would have given their left hand for that home during the boom. Ahora, no prestamo, no casa......
Every home that is foreclosed on, produces another renter to rent those homes that becomes rentals.
Most of these people make good tenants because they understand homeownership.
At some point they will be ready to buy again and they will be part of the market that the investors will sell to in the future.
Riding around the East and West Valley I see one in four houses forclosed and vacant. Many are not even on the market they are just sitting there being neglected and driving the property values of the surrounding neighborhood down. HOAs and towns are busy trying to get the banks sitting on these properties to pay their dues and taxes. Every time, seems to be a real stretch
I speak from experience. I have owned 16 homes in 7 different states, only 4 of the 16 realtors had my best interests at heart.
Not all realtors are bad, some are great, but a good number are only interested in commissions and marginal at doing their homewrok. Agree Capt Bill is helpful, need to be more like him.
I agree, Capt Bill seem very honest and knowledgeable
I agree, Capt Bill seem very honest and knowledgeable
Initially I had my doubts and I assumed he was disingenuous.
At the risk of sounding over confident, most agents are less knowledgeable that myself when it comes to RE. I met him I found him to be savvy negotiator (that's a good thing) a straight shooter with fantastic follow through. He added value. He also believes what he says. Oh yea, I spent a day with him and he is a really nice guy to boot.
If I was going to buy on in the southeast Valley, I would have used Bill. But I bought in the northwest Valley so I used an expert on that side of the town. No one can be an expert on the entire Valley (it's too big). Bill would be the 1st to admit that.
Being from out of town and picky, I must have spoken with 20 plus agents from the east side and the west side. 19 out of the 20 didn't cut it. So Bill is a cut above the rest.
Initially I had my doubts and I assumed he was disingenuous.
At the risk of sounding over confident, most agents are less knowledgeable that myself when it comes to RE. I met him I found him to be savvy negotiator (that's a good thing) a straight shooter with fantastic follow through. He added value. He also believes what he says. Oh yea, I spent a day with him and he is a really nice guy to boot.
If I was going to buy on in the southeast Valley, I would have used Bill. But I bought in the northwest Valley so I used an expert on that side of the town. No one can be an expert on the entire Valley (it's too big). Bill would be the 1st to admit that.
Being from out of town and picky, I must have spoken with 20 plus agents from the east side and the west side. 19 out of the 20 didn't cut it. So Bill is a cut above the rest.
We've had 14 different houses now, built one as the G.C. so I think we've got just a little experience now. A biggie to me about someone's character is what's highlighted above. Part of my job as a consumer is to take in all this information and decide if the property makes sense for me. I mean it's not like information's not all over the internet right? Everything from how to pick an agent to how to figure out the contract.
This leads to my second point, you have to be a complete idiot or a real lazy fool to allow one person (realtor or not) to be the sole decider in possibly the biggest transaction in your life. That's like letting a doctor do what he/she wants to you without question. How'd that work out for you Mr. Frankenstein??
There are great agents out there (amid the large pool of ok to bad ones) but YOU HAVE TO PARTICIPATE instead of laying back and blaming the agent when it does not end the way you wanted it to.
Edit: I just found out that a house down the block exactly like mine just sold for $11k less than I paid 10 months ago. Should I blame my agent for getting me to pay too much? Nope. While I'm obviously not pleased that I didn't time the exact bottom a sqft price of less than $50 for a 5 yr old house is a screaming deal no matter where you are and I came as close to what I think is the bottom as I could without being homeless.
AliveandwellinSA, jimj, phoenix_new, Mn-born-n-raised; and others such as Motley Crew, Chey Dee and Hart4July; and others whose names I can't recall at the moment, but who have made kind remarks on other threads; and all whom I've had personal contact with; thank you all for your kind words and support.
Many times it's disappointing, and downright depressing, when data and facts are presented and a few posters come back with responses that don't deal with the data or issues, but instead just launch an attack on me or Realtors in general.
It's because of you folks, and the many others like you, who are willing to discuss and debate issues intelligently, and challenge the data instead of attacking the messenger, that I'm willing to deal with the detractors, and still love to participate in this great forum.
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YOU HAVE TO PARTICIPATE instead of laying back and blaming the agent when it does not end the way you wanted it to.
jimj, you are exactly right. The agents job is to consult and advise. S/he must learn what the client needs and help to find that property, then negotiate the best price and terms, then help them through the escrow process.
The buyers, as you so well stated, must participate in this process and understand that after digesting all the information, the final decision must be made by the buyer.
An agent should never push a client to buy a home. When the buyer finds the home that is the right one, they will know it, almost as soon as they walk in the home. A good agent should know before the buyer knows. However, the agent cannot tell the buyer that this is the perfect house. The buyer must be the one to say that.
If the agent and buyer both know it's the right home, then the agent must provide guidance on how to formulate an offer strategy based on what is happening in the current market in this community. And as you recognize, the decision is made for "todays market". Tomorrows market will be different. But, again, the buyer must make the final buy/price decision.
Quote:
Edit by jimj: I just found out that a house down the block exactly like mine just sold for $11k less than I paid 10 months ago. Should I blame my agent for getting me to pay too much? Nope. While I'm obviously not pleased that I didn't time the exact bottom a sqft price of less than $50 for a 5 yr old house is a screaming deal no matter where you are and I came as close to what I think is the bottom as I could without being homeless.
You're very wise, because you recognize that no one can time the bottom, and that market value will go up and down. I believe Mn-born-n-raised, who recently bought a home somewhere in the west valley, said that he isn't concerned if the market goes down 10% or so. He's in it for the long haul. At the prices today, with interest rates as low as they are, anyone holding for 10 years or so, will be very happy with their purchase today (That's my personal opinion)
The home I bought in 2004 is worth less today than I paid for it, but I'm in it for the long haul also. So today's value of my house is nothing more than a paper value. The real value is that we love our home and the location, and feel confident that one day it will be much more valuable than it is today.
Let's remember, this is a forum that has kept track of people's comments and predictions for years. If people want to do a search on some of the predictions that some of the realtors have said here, they can do so. I've been reading this forum since 2007 and was active since 2008. I have followed some of the realtors on this forum and their claims. From what I've read, these realtors have manipulated data to create a sense of urgency. I will explain how they do this below.
The mantra has been the same regardless of the form that it's given in. They will acknowledge the facts regarding the current market but then will indicate supply of homes is falling implying that you need to buy now because this dwindling supply won't be reflected in the numbers until later. Sound familiar? They've been giving this line for the past 3 years and I have the quotes and URL's to prove it. They cover themselves by saying they aren't telling you to go out and buy a home. They just say they are providing data. They will say their data is accurate which it is. However, what they don't tell you is how they selected certain data and excluded others to provide the impression they wanted.
It would be one thing, if these realtors made these claims now. It would be one thing if this was the first time they said this. I would probably listen as well. However, when you've been reading this forum for the past 4 years and every year, they've made these claims. I have yet to read any published realtor on this forum discourage people to buy now and wait...why is that? Given this scenario any reasonable person is going to be skeptical and question their motives. If that makes me a bad person so be it. I also feel like I have a responsibility to protect consumers on this forum and ask them to question advice before accepting it freely.
To be fair, not all realtors on this forum have behaved in this manner. While they may not have asked people to wait or discourage people from buying, they also didn't manipulate data and try to encourage people to buy at inappropriate times either. AZJoeD and AZTracy are two such realtors who I feel have behaved in an ethical manner regarding this issue.
Last edited by azriverfan.; 06-07-2011 at 08:33 AM..
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He also believes what he says. Oh yea, I spent a day with him and he is a really nice guy to boot.
Thank you all
