May 10, 2006 at 11:22 PM #6586speakerParticipant
OK. It is quite clear Jawbone thinks SD realtors are all crooks.
I know that there does exist a great many shady RE agents in CA (SD in particular) but there are good ones who are honest.
So, that begs the question:
How do you pick a good one? How do you properly screen and vet a qualified agent? What are the types of questions to ask? What are some strong arm tactics that are commonly used by questionable agents? Any obvious red flags?
I know that there are many resources on the net or at the library that will help me answere these questions, but I want to hear from your positive/negative experiences.May 10, 2006 at 11:36 PM #25165
The best ways to pick a good one are to get referrals. If you needed open heart surgery what would you do? You’d ask around everyone you knew to find the best dr. When you embark on the biggest single purchase of your life why would you do anything less?
I would also be leary of anyone making huge claims that they can do what no one else can. There are lots of skilled people out there who can get the job done right. If the person looks a bit too slick beware!! The key is to find someone who is skilled and will put your best interests first. The internal conflicts in real estate sales are enormous and this is a very difficult thing to do.May 11, 2006 at 6:04 AM #25177
Talk to the realtor. Within 5 minutes you’ll know if they’re in for a quick buck, or care about your long-term goals. In the first 5 minutes, I either figure out the realtor’s spiel is “prices never go down” or “only buy if you can afford to stay for the long term”.
My one realtor friend said that several times he submitted offers, good for 24 hours, and the buyer’s agent said, “I can’t get together w/ my clients for 3 days”, and thus didn’t even tell the buyer there was an offer! Just because the agent couldn’t fit it into her schedule. How do you avoid that? How would a referral help with that?
About referrals: I don’t give them too much weight. Most people will trump up the doctor or realtor they previously used, to convince themselves they made a good choice, and justify their own decision. Second, even people with mediocre experience will use the same professional again out of convenience.May 11, 2006 at 6:13 AM #25178superfly19Participant
In regards to the statement: “I can’t get together w/ my clients for 3 days”
I was under the impression that once a realtor receives an offer they MUST present it to their client within 24 hours. Is that not a requirement?May 11, 2006 at 6:31 AM #25181ocrenterParticipant
If you know what you want, and you already got the merchandise picked out, there’s a couple of strategies we and several others used.
#1: we simply contact the ziprealty agent and go from there.
#2: approach the listing agent (in a tight market this will work FOR the buyer as the same priced offer the agent will gain more from you, in a buyer’s market you can offer even less because the agent is no longer sharing the 6% commission)May 11, 2006 at 7:38 AM #25182sdduuuudeParticipant
My suggestion would be to talk with many realtors before signing. When you get construction work done, you should get three quotes. I’d talk with at least 5 agents.
Most people just go with the first one they meet, or they just go off a recommendation. Check the BBB, talk with former clients of theirs, even ask each realtor about the other ones you have talked with – see if you can dig up any dirt.
As I mentioned in another post, I know one that is certainly worth an initial consultaion.
Another thought for buyers – consider a buyer-only agent. They have a little different take on the market because they deal exclusively with buyers and they don’t have listing business to get in the way.May 11, 2006 at 8:47 AM #25188
I dont know the exact stat off the top of my head but beleive about 75% of people dont go back to the same realtor. As for referrals, the source of the referral is just as important as the referral. Go to someone you respect enough to beleive they know the difference between good and bad service.
The three days part is not unusual. Sometimes clients are out of the country or unreachable. Other times the agent is delaying with the sellers knowledge to see if any other offers come in. As for me, as soon as I get a call from an agent that is submitting an offer I always call my client as soon as I receive the offer. Sometimes I tell them its coming but 50% of the time an agent says one is coming it never does. It’s generally better to wait until you have it in hand to spare your client the emotional rollercoaster.May 11, 2006 at 1:29 PM #25199
That’s what I would do as a buyer. Do your internet search for the house you want, then contact the selling agent and make sure they cut the commission in half, and rebate the other half to you. Or use the ZipRealty agent, who rebates you 1.5% at closing.May 11, 2006 at 1:30 PM #25200
I couldn’t believe it either. My friend called the realtor and said he had an offer to bring over, and the realtor said he couldn’t deal with it. As far as my realtor friend knows, the sellers were not notified of the offer. It didn’t matter, because his buyers had several other homes picked out. Remember, buyers market, buyers win.May 11, 2006 at 4:17 PM #25211
Those ZIP realty agents need your business and will work for a fraction to get some real experience. Once they actually have experience they will leave ZIPrealty to earn a decent living. You can get really cheap haircuts at the beauty school you know?May 11, 2006 at 6:47 PM #25217
It doesn’t take much experience, education, or know=how to be a realtor. Just check the education and credentialing requirements for the realtor license. So since it’s not brain surgery, I don’t look for a brain surgeon. Just someone whose out in the field, and can help me fill out the paperwork. Nothin’ to it. What is the training required to be a realtor? Am I missing something here? Do you need a college degree? Do you need to know about markets, economics? From what I hear, you only take one class teaching you how to close a deal. Making sales. And how to fill out all those forms. Simple stuff.May 11, 2006 at 7:08 PM #25220AnonymousGuest
The better question is why are you even considering hiring an agent?
Most realtors I know personally are honest and intelligent people. However, the fact is in todays modern world real estate agents don’t serve much purpose. I would never go through a traditional agent to buy or sell a house, why would you? Why not go through a discount agent such as IPayone? Or even do the deal yourself? You will save tens of thousands of dollars at todays prices.
Nowadays regular people can get access to all the information on the MLS, the realtors have lost that monopoly. If you have access to sales history, comps, etc. why would you pay a realtor thousands of your hard earned dollars?
The fact is, traditional real estate agents are going the way of the dodo bird. This industry will be completely changed in the next few years. What amazes me is that it is taking this long for people to get with the program.
As a comparsion, look what is happening with cars sales. Nowadays every major dealer has an Internet sales department. You get your quote from the Internet, at a fixed discount price, and there is absolutely no haggling or shady dealing when you go to test drive and purchase the car. Both car sales and real estate sales are in the process of major reform, and it is great for the consumer.May 11, 2006 at 7:25 PM #25222
You are absolutely right! You’ve figured out the changed market! 80% of homes are sold via the client finding the home on the internet. We need a little more progress on getting value info and forms, and the customer doesn’t need the agent at all. The realtor goes the way of the travel agent.May 11, 2006 at 8:44 PM #25225JJGittesParticipant
Anybody used Buyside realty? They apparently rebate 75% of their commission to the buyer. Everything done on-line, and they do not show homes.
However, I think it is probably best if you can simply get the seller to lower the price in an equal amount to the buyer agent commission. Your basis will be lower for prop taxes, and you won’t be tagged with inc. taxes on the commission kickback.May 11, 2006 at 8:48 PM #25227
I started a thread on Buyside in the last month. They’re new, and were just hiring.
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