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If you read through the treads here there are realtors on here that think they should be able to get away with it because they managed to get nieve clients to sign unscrupulous contracts that state they get paid even if the buyer goes out and buys an FSBO.
Quote:
Originally Posted by GotHereQuickAsICould
After trudging through dozens of homes that were not what they were looking for, a friend and her husband bought a FSBO. They had asked the realtor to show it to them, but he ever was able to get it organized.
When they told him, he responded that they owed him the commission anyway as he had shown them all the other homes. He even wrote them a letter to this effect.
She and her husband told him that they would take this to the state real estate board if he would like, but he had done not a single thing towards helping them buy their house and they would not be paying him the commission.
Strange that he thought he could pull this and get away with it.
My wife is on the lending side so I hear her stories about bad agents all the time.
Just today we were coming back on a 7 hour road trip. A buyers agent read an email wrong and contacted the borrower the seller and the lender freaking out. My wife had to spend about an hour taking everyone off the ledge because of that.
I have no problems with good agents making a living. I just don't understand how anyone can justify the fact that it costs a car to sell a house. Lol. Ymmv
I learned a long time ago to call in at least a half dozen realtors to prospectively sell my place. Yeah, it takes time - but that time is money - your money. I'll admit most are useless. You can expect that. So what do I look for? I wait to see if they mention or at least act like they have buyers interested in my type of property in that specific area. That's real important. They will usually tell you that, if in fact, they do. As a rule of thumb, the mention of an "open house" up front, is not good. It means that realtor has no "leads" regarding potential buyers.
Also, get a handle on what they think of your property. If they act lukewarm - assume they are and pass on that realtor. Some are more interested in certain types of properties and will possibly just take your listing for their own reasons, not yours. In my experience, realtors really interested in my property avoid being too dramatic about that - but I can nonetheless, tell.
Of course always avoid realtors that you know are just "part timing" it. Old white, retired men looking for some extra income - in case it happens - are the worst. Never, ever. Pay attention to their availability to come out and see your property. If they want to come out tomorrow, that doesn't mean necessarily that they are desperate for a listing - they may be enthusiastic. If they want to postpone, listen to why that is. "Family obligations" are a bad sign, for example. "Busy with closings" is more like it. Hobby horse realtors can actually prevent a potential buyer from seeing your place. A buyer that happens upon your listing (a drive by) wants to see it like, right now! The realtor must respond appropriately.
Biggest most obvious lie in real estate..."We have buyers all ready for a property like yours"
If they did they would have sold them something else a long time ago.
Or the even better..."We have buyers from California who are too dumb to know your house is way overpriced."
As an old white retired guy I also would point out you are wrong there too. There are a few of us around who do very well. Now i am not interested in establishing a team of ten or twelve and selling 15 million worth of RE (which my old white male office mate does) but 15 or 20 transactions keeps one busy and financially fine. And in the areas where we practice we have little trouble cleaning the clocks of the young and inexperienced.
It was either you or the brandon that posted their discontent with realtors posting properties on the MLS for flat fees. You were going on about how your going to vote it down and its wrong and on and on. How is that not kicking and screaming?
Wasn't me...the other side can work for free for all I care. That's between them and their client.
If you go back and read previous threads you will see where many agents blame the consumer for bad agents. Instead of doing more or being proactive to clean up their own ranks it's much easier to blame the consumer.
They do bear some burden for occasionally hiring them for no reason other than they answered a phone call, just as the brokerage that lets them hang a license bears some, and the state that allows minimal education and expectations bears some responsibility.
More nonsense.......blaming the politicians for a lack of quality in a profession. If I am terrible at my job then I am terrible. I am man enough to own my own incompetence if it occurs.
Most people that are incompetent don't realize they are incompetent.
If you read through the treads here there are realtors on here that think they should be able to get away with it because they managed to get nieve clients to sign unscrupulous contracts that state they get paid even if the buyer goes out and buys an FSBO.
What's unscrupulous about it if fully disclosed and the agent doesn't abandon the buyer? My state actually requires an agency agreement before I can perform client level services, such as offering opinions, showing homes, writing offers, etc. The state has actually revoked licenses and fined agents for performing client level services with a customer.
The point of a contract is that both sides are held to a standard. The agency contract protects the client much more than the agent. That is the one clause that protects my time. In the story you quoted the agent abandoned the buyer in a sense, per the OP. Since your so familiar with it, tell me about the agency agreement please?
How about the Agents on those Bravo TV show- Million dollar NY and LA. They make a couple of hundred thousand on one place and do it several times per year. It looks like they don't do much at the end, hold a phone and say either Lower, higher, or mid point and than shake a hand a get a commission check that feels like a lottery winning. I realize you got to socialize and hold house opening parties but how hard can that be when the carrot is so $$$$$ and all you have to do is use your god given or natural social skills.
This lies one of the biggest reasons no one respects them. Barrier of entry is basically nil. That opens the gates to varying degrees of incompetent and competent agents. Tighten up the qualification criteria and we probably wouldn't be having this discussion
Also note that the "real estate schools" are selling the "get rich selling real estate fantasy" also while collecting their piece of the pie. How many graduates are getting their license without making a dollar in their first year yet laid out $1000+ dollars to get to that point?
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