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Old 06-16-2010, 08:09 AM
 
848 posts, read 1,946,814 times
Reputation: 1373

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Quote:
Originally Posted by Brandon Hoffman View Post
Wow...just wow. As far as experience...well I've closed more homes the last 5 months than you have in the last 30 years so I have a little experience too. I maintain the Realtor is more experienced in handling negotiations, has better knowledge of market conditions, can better determine the condition and value of a house compared to other homes for sale, knows better inspectors, is better able to negotiate repair addendum's and the supplemental work in a closing, and understands the contract and liabilities better than ANY unlicensed legal assistant.

Oh by the way, the realtor works for the client the same as the attorney so throw that argument out. As for the rest, I suppose readers will just have to judge whether to rely on an unlicensed legal assistant/attorney or a Realtor.

I do wish that people did a better job of hiring good agents. That would make a huge difference because many assume all agents are the exact same when in reality there is a huge difference between a great agent and an average agent.
Brandon, I think we'll have to agree to disagree......

A realtor can possess all the desirable skills you listed, but in my experience most do not, and I definitely would not automatically defer to one as "better" in every area. Everything is a matter of degree.

I learned the hard way not to use a realtor recommended inspector. Naturally, someone will recommend an inspector with whom they have developed an easy working relationship. Unfortunately, that may not be in the buyer's best interest. I'd prefer to trust a recommendation from my attorney.

Realtor and attorney relationships are not the same.

The realtor is working on commission, which absolutely can skew their perspective. Salespeople are driven to close the sale. It's in their best interest to do so as quickly as possible. It's what good salespeople do. However, it's not always in the best interest of the buyer, whether its houses, cars, or appliances. It's simply the business of sales.

The attorney works for either a pre-agreed flat fee, or hourly, depending on the complicity of the transaction in question. Usually, home sales are not deeply convoluted. Associated fees are generally standardized within regions. The attorney has no vested interest in pushing for closing without tying up all the loose ends in a contract. It's simply the business of law.

I wish people did a better job of hiring DOCTORS! The point is, it's not always easy to find the top people in most fields, especially so in real estate, because your clients can be from outside the region or state.

This issue is not unique to realtors. It's the same with Dr.s, lawyers, police, inspectors, etc. NO GROUP effectively polices its own. So it's up to the consumer to figure out, often under pressure of time, who is the best. It's hard.

You said you have "30 years" experience. Perhaps we can end this thread with you educating me and other potential RE buyers exactly HOW to find the best realtor.
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Old 06-16-2010, 08:24 AM
 
Location: Tempe, Arizona
4,511 posts, read 13,537,493 times
Reputation: 2201
Quote:
Originally Posted by Creek Hollow View Post
...Realtor and attorney relationships are not the same. ...
Actually, they are if you have an agency relationship with the Realtor. Both the Realtor and lawyer have fiduciary duties to their clients.

Realtors can also work for a flat fee paid by their client (buyer or seller). And conversely, lawyers can work on a contingency basis.

You may have found an exceptional legal assistant that can work as effectively or better than many Realtors. I would not say that is the norm or recommend that everyone do the same.
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Old 06-16-2010, 08:26 AM
 
Location: Union County
6,150 posts, read 9,977,210 times
Reputation: 5831
Quote:
Originally Posted by Creek Hollow View Post
Brandon, I think we'll have to agree to disagree......

A realtor can possess all the desirable skills you listed, but in my experience most do not, and I definitely would not automatically defer to one as "better" in every area. Everything is a matter of degree.

I learned the hard way not to use a realtor recommended inspector. Naturally, someone will recommend an inspector with whom they have developed an easy working relationship. Unfortunately, that may not be in the buyer's best interest. I'd prefer to trust a recommendation from my attorney.

Realtor and attorney relationships are not the same.

The realtor is working on commission, which absolutely can skew their perspective. Salespeople are driven to close the sale. It's in their best interest to do so as quickly as possible. It's what good salespeople do. However, it's not always in the best interest of the buyer, whether its houses, cars, or appliances. It's simply the business of sales.

The attorney works for either a pre-agreed flat fee, or hourly, depending on the complicity of the transaction in question. Usually, home sales are not deeply convoluted. Associated fees are generally standardized within regions. The attorney has no vested interest in pushing for closing without tying up all the loose ends in a contract. It's simply the business of law.

I wish people did a better job of hiring DOCTORS! The point is, it's not always easy to find the top people in most fields, especially so in real estate, because your clients can be from outside the region or state.

This issue is not unique to realtors. It's the same with Dr.s, lawyers, police, inspectors, etc. NO GROUP effectively polices its own. So it's up to the consumer to figure out, often under pressure of time, who is the best. It's hard.

You said you have "30 years" experience. Perhaps we can end this thread with you educating me and other potential RE buyers exactly HOW to find the best realtor.


The biggest issue good realtors face is how many bad ones there are out there... Unfortunately it does not simply come down to experience and # of closings - if that was the extent of judging a realtor it would be much easier. Even then, just like any salesperson, realtors have a tendency to self promote through exaggeration... I can't tell you how many "I'm one of the top agents in my office" I've met through the years. It's just not physically possible for them all to be "the best" and, like I said, sheer volume is NOT the end all / be all judge of a realtor.

All too often a realtor does not bring the value 5+% commission dictates. It's rather upsetting to knowledgeable buyers and sellers.
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Old 06-16-2010, 10:30 AM
 
Location: Just south of Denver since 1989
11,815 posts, read 34,300,444 times
Reputation: 8935
Quote:
Originally Posted by MikeyKid View Post
All too often a realtor does not bring the value 5+% commission dictates. It's rather upsetting to knowledgeable buyers and sellers.
Then you are misinformed. Two brokerages, two agents, lots of liability...sometimes I am worth all 6 by myself, other times more than 10%
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Old 06-16-2010, 11:21 AM
 
Location: Columbia, SC
10,907 posts, read 21,872,076 times
Reputation: 10539
Quote:
Originally Posted by Creek Hollow View Post
Realtor and attorney relationships are not the same.
They are if you have an agency agreement. I'm sorry you don't understand an agents duty to a client but I can assure you it IS the same as an attorney. I realize some agents are better at it than others, but the same can be said for any profession, including attorneys. Do you also dispute the rest of my post that an agent can better advise a client regarding real estate than a legal assistant?
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Old 06-16-2010, 11:48 AM
 
Location: Union County
6,150 posts, read 9,977,210 times
Reputation: 5831
Quote:
Originally Posted by 2bindenver View Post
Then you are misinformed. Two brokerages, two agents, lots of liability...sometimes I am worth all 6 by myself, other times more than 10%
haha - how could I be misinformed about personal experience?!

Keep in mind this isn't a personal attack on you or your profession... It's a fact of life that EVERY profession has people who just aren't very good at what they do - yet, they think they are!
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