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I had the same frustration. Had to fire my realtor a couple days ago and am looking for a new one. It's a bit of a scummy profession overall.
One of my co-workers recently bought a house. I told him to wait, save up that 20% down payment, and make SURE you're in the right spot but he didn't listen. Paid 40k more for a home that is in not good condition (with a 30k remodeling loan on top of that). It was listed in 2013 for 149k and he paid 190k for it. Why? Because he didn't research it enough on his own (a bit young and a bit naive) and there was no one in the process looking out for his interests (though granted as an adult you have to look out for you and yours).
His realtor? Foreclosed upon, and declared bankruptcy in 2010 and 2011 respectively. I recommend looking up your real estate agent in court records.
Many are not there to help you, just to get the commission. Who's looking out for the buyer? No one, because there is a conflict of interest in the whole process. Even with lawyers the guy is one your side. A realtor has an incentive to get the buyer to pay more.
Oh, and if you ever hear something like: "Make sure the offer you put down isn't too low or the seller might get offended!"...run. Just run.
Really? I didn't know it was my job to make sure the seller of an asset wasn't offended. And how it it in my interests to pay thousands or tens of thousands of dollars more? If the real estate agent seems like they're rushing you or putting pressure on you to close, just find another.
Realtors are like any other profession. Scummy ones, non-scummy ones. Doctors, lawyers, engineers, Indian chiefs, same.
I totally agree on the "might get offended." Get offended, see if I care. I started out $20K or $30K low on my last deal. The seller countered with their asking price. Hmph. I think there was a message in there. My agent said maybe we had misread the comps, I went back through the comps myself and decided yes, we had. We eventually closed at $3K below asking, and I really like this house. I'll know in a week or so if I get my top dollar rental asking price. Even if I don't I know it will go easily at $100 less. I'm gambling a month's lost rent, which is probably foolish. WTH. My money.
I like the challenge of getting the best deal! Sometimes I don't, mostly I do.
This is exactly why, you are getting blown off by Realtors such as when your car was broken down. If you want to buy a home, sit down with a long time Realtor specializing in low end homes in your area. Really discuss with them what you can do, what you want, and how you can pay for the property. Then ask them if there is a possibility to get what you want at a price you can afford. The answer will be Yes or No. If yes, then let them tell you what you can get, and how to get it. There is not going to be a big choice in homes. You will be lucky to find one or two. Quit running around wasting time, and when one says they can help you, let them tell you when they have found the home you can afford.
I tried to give you + reputation but the system said I had to spread it around. You must be making a lot of good posts! Like the one I partially quoted above.
I keep looking at counties that have lower housing prices in the hopes of finding something I like that I can afford. Telling me its hopeless is sad for us . The next county I was thinking to look at has even lower housing prices than the one I saw this weekend.
Maybe buying is just not right for you. Maybe you should pick a place you want to live and rent, save your money until your finances improve. While you're at it, get your credit score up. Get a credit card and use it a lot and pay it in full every month. Get a decent job, wait a year or two, save some money.
Gawd I hate to hear you going from county to worse county to even worser county. You sound to me like you are headed in the wrong direction.
Are real estate agents really necessary these days?
If you want to invest in real estate property then go through with real estate property management company or any nearest real estate agent they will provide you all the detailed listing for real estate property with numerous offers. They can also reduce your searching time for best property.
If you are unable or unwilling to learn about what it takes to buy a house, perform the due diligence needed to insure your purchasing decision is a good one, then yes, get a real estate agent.
On second thought, having read so many threads from people who had an agent and reading the disasters they went through even while having an agent, I take that back.
You can easily purchase your own home without a realtor. If you have the time, you can do it. You can pay to have the mls listings, and you can arrange to visit the homes yourself. I bought my first home myself from a for sale by owner lady. To me, most realtors are dishonest and only out for money. They work on comission , and it does not take much to become a realtor. You can do it yourself! The main interest they have in you is getting the money in your bank!
If you want to invest in real estate property then go through with real estate property management company or any nearest real estate agent they will provide you all the detailed listing for real estate property with numerous offers. They can also reduce your searching time for best property.
First of all, you should be able to pick the best properties yourself. I picked 4 great properties to become rentals in 3 days of showings, buying them two at a time.
Second, typical property management company costs are 10 percent of the rent. THAT is my profit margin!!! Take away that management company cut and I'd be making nothing!
If you are unable or unwilling to learn about what it takes to buy a house, perform the due diligence needed to insure your purchasing decision is a good one, then yes, get a real estate agent.
On second thought, having read so many threads from people who had an agent and reading the disasters they went through even while having an agent, I take that back.
I've had it gone both ways -- even with the SAME agent! I had 4 great purchase transactions this year with Ms. {redacted}, 2 great rental transactions, and then she went haywire, flipped out on the last 2 rental transactions and I had to fire her.
Maybe there is a case for FSBO but I can't see any benefit to not having a Realtor if you are buying, unless somebody can show me how the buyer can get the seller's agent fee split. Otherwise having your own Realtor in a purchase costs you nothing, and you have a free secretary to fill out the paperwork while you do your own diligence, and a second opinion on the results of your diligence.
On purchases and rentals I retain a Realtor, listen to the advice, and then I order any changes I want. There is no mistake who is boss, and if they don't like it they can go get their own money and buy/rent their own houses.
You can easily purchase your own home without a realtor. If you have the time, you can do it. You can pay to have the mls listings, and you can arrange to visit the homes yourself. I bought my first home myself from a for sale by owner lady. To me, most realtors are dishonest and only out for money. They work on comission , and it does not take much to become a realtor. You can do it yourself! The main interest they have in you is getting the money in your bank!
I still don't get this attitude. Why not retain a Realtor and let them do all the heavy lifting? The seller is paying their commission so you gain nothing in terms of cash benefit, but save the hassle of paying the MLS and showing houses.
Make no mistake, YOU are the one who is responsible for due diligence! Your Realtor can give a second opinion which you are free to accept or reject. I've done both.
And think about this. As a buyer the last thing I want is the seller hovering over me and giving me a sales pitch while I'm examining the property. I've told my Realtor to get rid of them, and that I can spot the positive features myself. I tell my Realtor to focus on pointing out bad stuff and otherwise leave me alone unless I have questions.
I just HATE on my back sellers. Yuck!
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