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I know a Realtor that took on a very low priced listing. The property was on the market with another Realtor for over a year with no bites, nada. Apparently upon researching and looking at the original listing, there was very little information, pictures and most likely little, if any advertising put into it.
So, the Realtor tells the seller (who approached the second Realtor), sure, I can sell it for you, when your contract is up. Waited at least another 6 months and then put it on the market.
Sold it in two weeks. Lots of advertising, great pics, write up etc. This Realtor does not work any less on a 50k house than they do for a 300k house.
Seller is thrilled, SO THRILLED they go out and buy a new house for a few hundred thousand dollars through another Realtor.
They tell the Realtor that sold their rental unit it's a long story.
NOW .... why do you think that some Realtors put little effort into selling a low priced home?
I think that's wrong, but I am just stating a fact.
I suppose there are a lot more scums out there than Realtors.
And, that's just one story, I am sure there are many many many more.
OH, and I have no idea at this point, why the seller chose to go with another realtor, but that's not the point. EVEN if it is his mother, that's no excuse, why? because why didn't mom (who it isnt) sell the rental property?
NOW, let's hear some comments. I am curious to see what peoples thoughts are.
NO - it was not a for sale by owner, that was the first question that I asked.
And the problem (of clients feeling slighted by realtors) my be getting worse, esepecially for buyer clients. Buyers today almost don't need a realtor until the paperwork starts. With the internet, databases, school reports, traffic data, recent sales data, aerial photos, online photos, sights like this (City-Data Forum), online county planning and records, etc., people only need realtors to open the door and manage the follow on paperwork during the sale.
Long gone are the days when a buyer relied on a realtor for everything. Buyers do a lot on their own.
Buyers are wondering what the heck is their realtor doing for that fat commission when the buyers did most of the research them selves. Fortunately, the buyer isn't paying the commission, but since the realtor is effectively accomplishing less for both parties, his net utility is less for the (traditionally) same amount of commission.
Perhaps this is why sites like Moderator cut: URL removed are becoming popular as they reduce the costs of real estate transaction by allowing the buyers/sellers to do more on their own.
No matter the education, the average consumer still has no idea how the real estate community works. What this seller did was very wrong, but all the agent can do is say, "Next!" Maybe he/she will still get referrals from them, you never know...
Well obviously this client did NOT feel slighted by their Realtor and the investment property was sold in two weeks. That has nothing to do with this thread.
They also used another Realtor to buy the new home.
I think if someone can buy or sell their home without a Realtor kudos to them. IF they go into a listing and use an attorney the only person who really truly benefits is the listing agent, who will get both sides of the commission and then really do less work since the buyer hired an attorney.
Very professional to come on a public forum and essentially call a client "scum".
Sounds like someone chose the wrong career.
Well I said, that people say Realtors are scum, I never referred to anyone else as scum, that was for others to decide.
I think that the seller will or I would hope send any referrals there way. The agent is a good honest one, one that I have known since '89. Just kinda crappy this happened to them.
Stuff like this happens all the time in ANY business. I guess I just grew up and was raised with the integrity that if someone does a good job for me, I in turn would utilize them again to show my appreciation. and that does not just go for business, that goes for individuals who go out of their way to help me with anything, but that's just me.
I love all my buyers and sellers too, I am in the minority I suppose, I enjoy helping buyers more than sellers. I like to sell, but I like the excitement and interaction with helping others buy a house ... ok this is not about me, it's about a situation.
Very professional to come on a public forum and essentially call a client "scum".
Sounds like someone chose the wrong career.
We have no idea who the OP is referring to. A lot of people use this side of the forum to talk about work, experience, trends, etc, and I see nothing wrong with what the OP did.
So they are scum by using a different realtor to buy with? I'm not sure exactly what reaction you were expecting, but IMHO this makes you look pretty bad.
Before I jump on the bandwagon and question the client's ethics, I'd need more information. Is the agent who sold the house primarily a listing agent? If so, I see nothing wrong with a buyer wanting to work with an agent that is a strong buyer agent.
What was their relationship like? Maybe the listing agent is matter of fact, down to business (not a bad thing), but maybe for their new home search they wanted someone more warm and fuzzy. I don't know.
There are many "long stories" in real estate and it is part of the deal. If we don't want to have "long stories" as a group, then brokerage owners need to stop bringing on everyone's dog sitter's hairdresser's cousins as part-time agents. In my opinion, the problem with long stories is that it was created by us as a collective group failing to take control of our profession.
So...have you talked with the owner of your company about the sub-par agents that work there...'cause those are the folks that create those long stories, generally speaking.
There is a large Indian Community in our area and there is a cultural issue they bring to the US where there is pretty much not much loyalty to anyone (in general) in real estate. They will drop you in a heartbeat if there is some advantage or incentive. Even once you go under contract they will continue to negotiate up to the day of closing. Buyer Rep Agreements are nothing to many of these folks.
I'm not knocking these people as individuals but just saying it's a cultural thing many bring from their home lands. Me and you might do business with our word and a handshake, but to many people that means nothing.
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