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I think it's too bad when people end up with agents who don't do the best job. But it makes me feel like I'm worth more, not less.
I certainly understand that some agents get their priorities mixed up. So do some roofers, some boyfriends, and some some politicians. The good news is it's super easy to interview buyer's agents until you find someone with the right attitude, who answers their phone, explains things that need to be explained, and really works to make you happy. Every client's needs are different. Every transaction is different. We learn something with every single one... Those that close, and those that don't. I can only hope that the agents who are complained about here, learned something from the experience also.
I haven't read this whole thread but I don't have a problem with the way buyer's agents are paid, really... I've thought some about other models like buyers paying up front, and I don't think most first time buyers (or second or third time buyers!) would be able to afford to pay us up front to drive them to properties, again and again, until they find the place they want. I think the financial pressure to buy sooner or choose from a limited number of homes shown would be higher because they're paying for each trip. We have had clients look for a year or more. I know lots of people who say those clients should have been kicked to the curb for their indecision or low-ball offers on early properties, but we know them, and that is what they needed to do. Every appt was needed, every offer was the best offer they wanted to make on that place, at that time.
Have we been bitten by clients who let us drive them around for a long time and then didn't buy or bought with another agent at the end? Yes, we have. Yes, they hurt. But there haven't been many... We close the deal with most we start with because we never stop working, til it's done. And after.
It was my attorney who advised me to get an additional inspection on some aspect of the house the general inspection could not see. That ended up uncovering a major issue. My attorney has only been practicing for a few years, my agent has supposedly been doing this for decades but it was the attorney who had the knowledge about what inspections I needed to do, and the inclination to protect my best interest even if it might kill the deal.
I'm curious: what was the issue, and how could the attorney suspect it without even looking at the house?
My agent offered no useful information on neighborhoods or locations beyond what I could find myself on the internet.
She offered little to no useful information on pricing or the market. Much like my previous buyer’s agent, her commentary was mostly geared toward that houses are going to go fast so we should jump on things as quickly as possible. Meanwhile I saw a lot of stuff sitting on the market. In both cases when I bought a house, I felt pressured to buy asap and my concerns were minimized.
When we are a buyer or a seller, real estate agents are not our employees, but we still must manage them by giving them clear expectations of what we want from them and when we want it. Those deliverables need to be well-thought out, reasonable, achievable, specific, measurable, with clear due dates and have clear conditions of satisfaction.
If an agent tells me "I don't know" too many times, I recount for them what Steve Jobs would tell newly promoted VPs at Apple.
Steve would tell them, "You know, if I come into the office in the morning and my trash can hasn't been emptied overnight, I might call in the janitor and ask why. The janitor might tell me, for example, that the door to my office was locked. That is probably an acceptable excuse for a janitor. But now, you are a Vice President. There is no excuse. Don't tell me why something wasn't done. Don't give me any kind of excuse whatsoever. Now that you are a Vice President, your job is different than it was way back when you were an individual contributor. Someone along your career progression from new-college-hire to VP, you crossed over a line where excuses might be a reasonable response, to senior management where no excuse is ever acceptable. If you encounter a barrier, part of your job description is to go under the barrier, go over the barrier, or go around the barrier -- or if need be break down the barrier. Barriers no longer matter, and you will no doubt encounter them on an ongoing basis. Don't ever give me an excuse for why you didn't accomplish our objectives, or I will replace you with someone who can get those goals accomplished."
OK, the above is too forceful for a real estate agent, but you get the idea. If an agent doesn't deliver, I re-tell them what I want and when I want it. When they start down the excuse path, I again tell them they must deliver. And, of course, my requests must be reasonable. And if they fail to deliver, we will part ways.
And, I have never been a real estate agent, so maybe I'm off base here. Maybe a reasonable agent might say to himself/herself, "you know this SportyandMisty is too much of a pain in the ass to work with" and then go find another client. There is a feedback loop in both directions so we both learn.
Last edited by SportyandMisty; 02-08-2018 at 10:51 AM..
I'm curious: what was the issue, and how could the attorney suspect it without even looking at the house?
It was a cracked chimney. My original inspection report simply says that they don't have the equipment to inspect the inside of the chimney. I didn't think much of it, but the attorney pointed it out to me and said that a cracked chimney can cost thousands of dollars to repair and a level 2 chimney inspection was recommended.
When we are a buyer or a seller, real estate agents are not our employees, but we still must manage them by giving them clear expectations of what we want from them and when we want it. Those deliverables need to be well-thought out, reasonable, achievable, specific, measurable, with clear due dates and have clear conditions of satisfaction.
If an agent tells me "I don't know" too many times, I recount for them what Steve Jobs would tell newly promoted VPs at Apple.
Steve would tell them, "You know, if I come into the office in the morning and my trash can hasn't been emptied overnight, I might call in the janitor and ask why. The janitor might tell me, for example, that the door to my office was locked. That is probably an acceptable excuse for a janitor. But now, you are a Vice President. There is no excuse. Don't tell me why something wasn't done. Don't give me any kind of excuse whatsoever. Now that you are a Vice President, your job is different than it was way back when you were an individual contributor. Someone along your career progression from new-college-hire to VP, you crossed over a line where excuses might be a reasonable response, to senior management where no excuse is ever acceptable. If you encounter a barrier, part of your job description is to go under the barrier, go over the barrier, or go around the barrier -- or if need be break down the barrier. Barriers no longer matter, and you will no doubt encounter them on an ongoing basis. Don't ever give me an excuse for why you didn't accomplish our objectives, or I will replace you with someone who can get those goals accomplished."
I don't know is one thing... but it doesn't equate to the absence of obstacles... people in my company get fired for going over, around or under a barrier.
For 25 years my position was Engineering Director of a small community Hospital... we always found a way to get the job done... no excuses.
Since being acquired by a Healthcare giant decisions are made by committee and there are severe penalties for creative problem solving...
When I pointed out that no patient had ever had a surgery cancelled under my tenure... I was told cancellation is a fact of life... and under no circumstances can I go outside the corporate the corporate supply chain.
It has been a hard lesson... for a person used to problem solving...
Case in point... ALL of the area Hospitals have had a very good working relationship... these ties have been severed as corp policy... we neither loan or borrow anything... no matter if it is replaced the next day...
I've learned the bigger the company the more it is run by legal in every aspect...
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