[quote=CA renter]Yes, I would gladly pay someone to unlock/show us houses. We do our own research, are pretty knowledgeable about the areas we’re interested in, preview the houses ourselves (at least a drive-by, more, if it’s vacant), and only ask to be shown houses that we really believe we’d be interested in purchasing. Of course, if someone actually finds us a house that hasn’t been listed yet, or gets us an “inside” deal, or finds us a gem that’s going to auction, etc. then that person would be entitled to much more.
Simply unlocking houses and filling out contracts (which are so long mostly because they’re designed to protect the agents/brokers) does not warrant thousands of dollars in pay, IMHO.[/quote]
Wow, CAR, I wish that’s all there was to a buyer’s agent job. If it were, then all these newbies could breeze thru multiple complicated transactions with just a “forms pkg.” installed in their computer (w/their broker chained to their ankle – LOL)! What about an agent who tells a buyer NOT to make an offer on a particular property and NOT fill out any forms? How much is this information worth to you if it saved you, as a buyer, from making a terrible mistake?? Can you do that by yourself? What if your seller is involved in a lawsuit and you, as a buyer, found out after opening escrow that lis pendens was on title? How are ya gonna fix that to get clear title and not lose your own rate lock-in or occupancy of your existing home (which is currently in escrow)?? What if the seller who just accepted your buyer’s offer is the Federal govm’t who siezed the property in a drug raid and states they now have a new *rule* that your buyers have to undergo a mini-background check prior to opening escrow and your buyers are balking at that? What if, after accepting your offer, your seller’s (who is in Chapter 7 BK) lender has just gotten their BK “stay” released and filed a “Notice of Trustees Sale” the same day and your buyer has not even released his/her inspection contingency yet. How ‘ya gonna “beat the clock?” What if a seller-couple is in the middle of a divorce and cannot agree to the terms of or to accept/reject or counter your buyer’s offer? What will you do then??
I could go on and on about RE-transaction messes but these are just a few representative examples of why an experienced agent is worth their weight in gold that a lot of people are unaware of.
CAR, as an agent, you frequently have to “talk turkey” to your clients and you gotta have the knowledge to do this convincingly. If you don’t, you won’t be able to “fake it ’til you make it” – LOL! If you don’t have the knowledge to control the escrow, the deal will fall apart, no one wins and you will have wasted likely 100+ hours and NOT GET PAID. I’ve had several “Come to J@s*s” conversations with RE clients in my life, sometimes 2-3 times during one transaction. Sometimes RE Agency is not about “charm” and “likeability.” When all is said and done, it’s about representing your client in your highest and best capacity, acting as their “fiduciary” and serving their “best interests,” even interests they may not yet be aware of. Oftentimes, your clients are too stressed out to even think straight. IMO, agents/brokers who can successfully close problematic deals earn EVERY SINGLE PENNY of their commission.
CAR, I know you have stated before that your family has conducted many RE transactions and would be comfortable with selling FSBO. You and your family are in the minority. Most sellers are somewhat delusional about not only the price they can fetch, but what buyers want to SEE when viewing their property. This “delusion” can keep offers from coming in during the crucial first days/weeks of the listing, unless the agent first takes CONTROL of this area before even debuting the property on the market. Even if cleaned up weeks/mos later and put BOMK, it’s not the same. Those buyers who are still in the market in that ‘hood have already gotten their first impression of the property and will not look again.
