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Right. I wasn't saying that I expect the seller's agent to be honest to prospective buyers, just saying that I like when they are--and they're likely to have much better success with mewhen they seem honest (although really, who will know other than the agent in many cases), and beyond that I was clarifying what I'm referring to by honest. On the other hand, I tend to get annoyed at "deflected questions", so that's not always the best tactic, either . . . but it depends on the person you're dealing with.That could be, but I'm also pointing out that that can be incompatible with being honest.
Get your own agent who knows the dirt, who will give you the benefit of their experience and counsel, as it relates to value.
A skilled agent would probably deflect the comment and use the interaction to determine the deal on Joe Blow, off the street. Is Joe represented by his own agent and just out shopping? Is Joe Blow a serial Open House attendee? How many properties has Joe seen and what stopped Joe from making an offer? Is Joe looking for more house/location than he is willing or perhaps able to afford?
If Joe is not represented by an agent and appears to be able to buy property, the goal becomes an appointment to counsel Joe and show property that might better meet Joe's criteria.
While this may appear opportunistic to some consumers, it's the juice of the market. The sooner Joe finds a place that meets his criteria, the sooner someone, somewhere, gets sold and perhaps buys something else, a ripple effect.
Sorry! But it's not a case of honesty to who? but honesty period . Whats wrong with ,"from my experence it is or it isn't , but that what the seller wants" , Come on it's the lack of any honesty in the Real Estate market that has gotten us where we are today. Were not at a fancy restruant and afraid to embaris the chef and tell him the food sucks.
I think you buyers have to put yourself in the sellers shoes for a few minutes. Would you really want your agent to hold an open house, and then if (and when) asked... say "yes, I believe this house is over priced" ?????? YOUR agent that you are paying a lot of money to? And then if that were the case, why wouldn't EVERY buyer out there go to open houses and deliberately ask that question? it is just crazy.... but whatever..... another reason to bash an agent... Damned if you do, Damned if you don't.....
Sorry! But it's not a case of honesty to who? but honesty period . Whats wrong with ,"from my experence it is or it isn't , but that what the seller wants" , Come on it's the lack of any honesty in the Real Estate market that has gotten us where we are today. Were not at a fancy restruant and afraid to embaris the chef and tell him the food sucks.
If you were suing someone, would you seek out the personal opinion of the defense attorney relative to his/her client? Of course not. The attorney is not going to give you his/her personal opinion and it does not matter.
I do not undestand this need to validate your conclusion about the value of the property. Is this some kind of code speak for "will they take a lowball offer"?
If you are a serious buyer, you are working with your own agent, who has a fiduciary responsibility to you.
Listed a country duplex at $359,000 w/ closest comps at $295,000 and a written agreement w/ seller for subsequent price reductions. Before 1st reduction received a cash offer waiving appraisal for 326,000 which we negotiated up to 345,000. Buyers agent notified us following fully executed attorney contracts w/ $25000 escrowed that buyer was going to get a mortgage as withdrawing funds from retirement account would come w/ high penalties........then of course an appraisal was necessary.....we agreed............there was no appraisal contingency in the contract. Home appraised for $300,000. Buyer's agent stated his client would not purchase ...... we checked his ability to get mortgage [coming in w/ 70,000 cash total] which held.... so we held..........eventually settled for a $326,000 sale price....$26000 over appraised value ...the original offer...and the dollar amount buyer would forfiet if he walked from agreement...........if agent had pulled comps and compared for the buyer, the offer of $326,000 most likely would never have been submitted.....buyer's agent did not fulfill their fuduciary duty to their client ....remember in the client's mind he had agreed that the home was worth $345,000 and was tickled pink at this rare find after a year long search..................Who will this buyer hire to sell his home and look for his next?
Get your own agent who knows the dirt, who will give you the benefit of their experience and counsel, as it relates to value.
Right. It would be a misunderstanding to think that I expect the seller's agent to be honest with me as a buyer. I don't expect that at all, even though it goes against something commonly found in realtors' codes of ethics. Honesty is incompatible with some other things expected of realtors, both by convention and by law.
I think you buyers have to put yourself in the sellers shoes for a few minutes. Would you really want your agent to hold an open house, and then if (and when) asked... say "yes, I believe this house is over priced" ?????? YOUR agent that you are paying a lot of money to? And then if that were the case, why wouldn't EVERY buyer out there go to open houses and deliberately ask that question? it is just crazy.... but whatever..... another reason to bash an agent... Damned if you do, Damned if you don't.....
I was asked this in the other thread. I expect the realtor to have their own opinions and would far more readily select a realtor who will express their opinions honestly when asked about them, regardless of who is asking them. (And that's not just true of realtors, but anyone I choose to have any kind of relationship with, business or otherwise).
If the realtor thinks that the price I want to list the house at is too high, I expect him to tell me that, and I wouldn't expect him to lie to others about this if they ask him his opinion. Why the heck would I want someone to represent me who is going to be dishonest or evasive to others? That would give the impression that I'm dishonest or evasive, too.
If I disagree strongly enough with the realtor--that is, if I really have an opinion that the property is worth far more than the realtor thinks it's worth, then either I had better get another realtor, or, especially in a case where a lot of other realtors I talk to agree with the first guy, I had better figure out why I'm pricing the property so far above what they believe it is worth.
This is assuming that I'm not trying to get a higher price than I also believe the property is worth, in a "let's see what we can milk these suckers for" move. There shouldn't be that much of a discrepancy if everyone is doing their homework--researching what similar properties are selling for right now, etc.
What could it possibly hurt me if a realtor is asked and gives their honest opinion (which can ONLY be an opinion in a sea of opinions) on how much the house is worth? The worst thing that could happen is that the realtor doesn't try to talk the potential buyers into making an offer that he thinks is too high, lol. Not that people are likely to be talked into that, unless they're very gullible and the agent is one heck of a used car salesman. If he tells the folks his honest opinion, then maybe they'd be more likely to put in an offer for the lower price, then I can reject that. I'm only going to get an offer for the higher price if a buyer comes in who believes that the property is worth that higher price--regardless of what the agent thinks. That the agent thinks the property isn't worth the higher price in no way implies that I, the seller, will be accepting any offers for lower prices, and the honest real estate agent would know this in the theoretical case we're discussing, too.
Oh, also, I wouldn't be paying a lot of money to a realtor unless they sold the house. They can only sell the house for a price I agree to sell it for. And in that case, they deserve their money if I've decided to use a realtor.
I am looking from both. The agent represents the seller period. By disclosing that information, the agent is losing money for the seller, and themself. If I found out my agent did any such thing, they would be fired.
I have to agree . The agents responsability is to the seller and saying a comment like that is adverse towards the interests of the seller. It is unethical for them to comment. They simply need to refraain from interjecting their opinions. Remember true value is based on what someone is willing to pay. not the beliefs of those with no interest in it... those values are for the banks.
If you were suing someone, would you seek out the personal opinion of the defense attorney relative to his/her client? Of course not. The attorney is not going to give you his/her personal opinion and it does not matter.
I do not agree that the attorney's opinion doesn't matter, but I certainly wouldn't expect the opposing attorney to give me their opinion. I also wouldn't call them honest, or take very seriously any claims about honesty being part of their code of ethics.
For me, this discussion is as much about ridiculous claims about honesty as it is about anything else.
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