Do Realtors Conspire Against FSBO or Flat Fee MLS Sellers? (buying a house, law)
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Then your home was overpriced. Your agent may or may not have been a dud. He could have turned down your overpriced listing...whatever. He may not have deserved to get paid but regardless the home didn't sell because of your price.
Then your home was overpriced. Your agent may or may not have been a dud. He could have turned down your overpriced listing...whatever. He may not have deserved to get paid but regardless the home didn't sell because of your price.
The agent was a she , no matter other than she owned her own brokerage and had a good rep. in the area.She set the price based on comps , I agreed yes , but it was me taking the advice from the "professional" where the price was set.. Some of the problem may have been that a lot of surrounding homes were Manufactured Homes, and or lake cabins. This was on a small inland lake in SW Michigan.The House was a landmark for the area , a home that was designed by a famous Chicago design firm as a family residence, in the 70s. It was not anywhere close to a lake cottage or a mobile home in value.or looks . I had updated the place over a four year period, it was finished as far as I thought it needed to be considering the rural area. I set the price based on what we were asking with the Realtor. Yes I did take less , but considering the declining market 6 years ago and the fact I had a cash buyer off my eBay listing ,...it sold in less than a month and the buyer never came to see it all dealing was over the phone . until closing when we met at the title office to sign papers and get my check.That was it.Not rocket science.
Do you seriously think an inspector actually NEVER even inspects the property?
Wow. I've seen some crazy stuff on here but this takes the cake, bar none.
Yes , it's common knowledge , but kept quiet. The buyer orders the inspection, but usually it's the realtor that actually does this and mostly there is a relationship between the Inspector service and the Agent. Yes often there is only a " surface" inspection and the first person to see this inspection is the agent, not the buyer. Stretching the truth in order to make the sale smooth is common.
Personally I had this happen to me on the last house I bought. Septic was not working correctly , appliances failed and both furnaces blew up after less than a month of living there.The decking wood was rotten covered up with plastic wood filler then painted over ( very dangerous ). The whole inspection was a scam.
Do you seriously think an inspector actually NEVER even inspects the property?
Wow. I've seen some crazy stuff on here but this takes the cake, bar none.
Quote:
Originally Posted by darstar
Yes , it's common knowledge , but kept quiet. The buyer orders the inspection, but usually it's the realtor that actually does this and mostly there is a relationship between the Inspector service and the Agent. Yes often there is only a " surface" inspection and the first person to see this inspection is the agent, not the buyer. Stretching the truth in order to make the sale smooth is common.
Personally I had this happen to me on the last house I bought. Septic was not working correctly , appliances failed and both furnaces blew up after less than a month of living there.The decking wood was rotten covered up with plastic wood filler then painted over ( very dangerous ). The whole inspection was a scam.
I agree with LCT. I have been in business for almost 10 years and I have no relationship with the home inspectors that I recommend other than I know they will do an excellent job for my Buyer(s). I do not receive kick backs and my Buyer(s) attend the inspection and witness the inspection in progress. They are free to ask questions and the home inspectors have all been excellent in answering their questions and even educating many of them on home maintenance.
So sorry - I have never heard of this dirty little secret that you refer to.
Yes , it's common knowledge , but kept quiet. The buyer orders the inspection, but usually it's the realtor that actually does this and mostly there is a relationship between the Inspector service and the Agent. Yes often there is only a " surface" inspection and the first person to see this inspection is the agent, not the buyer. Stretching the truth in order to make the sale smooth is common.
Personally I had this happen to me on the last house I bought. Septic was not working correctly , appliances failed and both furnaces blew up after less than a month of living there.The decking wood was rotten covered up with plastic wood filler then painted over ( very dangerous ). The whole inspection was a scam.
I always encourage a Buyer to attend at least the last part of an Inspection.
Did you not do your due diligence and at least show up ?
I agree with LCT. I have been in business for almost 10 years and I have no relationship with the home inspectors that I recommend other than I know they will do an excellent job for my Buyer(s). I do not receive kick backs and my Buyer(s) attend the inspection and witness the inspection in progress. They are free to ask questions and the home inspectors have all been excellent in answering their questions and even educating many of them on home maintenance.
So sorry - I have never heard of this dirty little secret that you refer to.
Me either....that's crazy. I give THREE NAMES of three GOOD inspectors I know do a great job. Buyer gets to choose. I always tell them to be there. I would rather do that than have them flip thru the phone book and pick some kook who has no idea what he is doing, because it seems we have more of those type that truly good inspectors.
And my home inspectors tend to want breakfast on inspection day.....I wouldn't call that a kickback (not for me, anyway!). But...yes, I DO get donuts.
Here's the thing....I've had A LOT of deals die over inspections. That's the best money the buyer will spend IMO. You know what I haven't had? A client get upset with ME over it. In fact, they are pretty darn appreciative that I recommended a GOOD inspector who found the REALLY bad stuff and we move on to the next property. Every buyer that I have had a deal fall apart over an inspection has eventually purchased a home thru me and usually goes right back to that inspector. Its also a RISK MANAGEMENT issue for Realtors.....if I did (as you naively stated) hired some "fluff" inspector, then my client discovers all kinds of things he missed, guess who that buyer is coming back for? ME.
Yes , it's common knowledge , but kept quiet. The buyer orders the inspection, but usually it's the realtor that actually does this and mostly there is a relationship between the Inspector service and the Agent. Yes often there is only a " surface" inspection and the first person to see this inspection is the agent, not the buyer. Stretching the truth in order to make the sale smooth is common.
Personally I had this happen to me on the last house I bought. Septic was not working correctly , appliances failed and both furnaces blew up after less than a month of living there.The decking wood was rotten covered up with plastic wood filler then painted over ( very dangerous ). The whole inspection was a scam.
It is not common knowledge, at least not in the real world.
Maybe you should have done YOUR due diligence and actually ATTENDED your inspection? It wasn't your AGENT'S inspection.....it was yours.
I always encourage a Buyer to attend at least the last part of an Inspection.
Did you not do your due diligence and at least show up ?
In this case no , Not everyone can do that especially if you are out of state. I was in the process of moving from my home in NC. Had been sold and I was against the clock to get all my stuff out of there. Could I prove there was collusion ? No, Of coarse not., and there may not have been, but one things for sure , I was screwed by the Inspection Service / Agent. There was no recourse ether, the disclaimers the inspection service had covered just about anything they "inspected" . I DID contact the service and demanded they refund my 250.00, and or at the very lest come back and face me and to explain why they " missed" all the big things that cost me many thousands....they never showed up , but I DID get a call from my Agent who said " don't call the service again , I will get your answers for you".....She never showed. She did tell me she was sorry these things got missed, but because this was not Her listing , she knew little about the original owner and their agent.
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