6 Signs of a Crummy Real Estate Agent

Re: Confessions of a Realtor

I completely agree with you. The *majority* of Realtors (Mortgage Brokers, Inspectors, et al) are just in it for themselves as evidenced by the current market standings. They can claim ignorance, but the reality is that **they all** knew the market was getting way over-priced. Turning a major life need (shelter) into a Vegas-style parlor game is our country's biggest sham and the current head of the Federal Reserve Board is as culpable as the rest. Do some research and see the accolades applied to him in 2006.

Anyone who thinks the real estate business is anything but greed and ambition, is woefully ignorant...including you newbies who want to believe otherwise. Used car dealers now have true competition. They laughed all the way to the bank in the last 6 years and now they *still* get paid for selling your foreclosures.

Buyer/Seller beware!!! You are your own best advocate!!!

DebinDC of VA @ Aug 16, 2008 19:57:50 PM

confessions of a Realtor

I am a broker-second generation agent/broker and have 35 years experience investing in,fixing up-reselling , and contracting for, (State Contractor since 1986, and self managing, RE in Ca Bay Area

There are many terrible dishonest buyers,agents,Realtors,doctors and attorneys, etc

They are not all bad or all good.

The National Association of Realtors was sued by U.S. Justice Department for anti-trust issues.

Its very easy to become a "Realtor" (with a big R)

Their code of ethics has NO mention of fiduciary duties as I read it.

no- I am not a "Realtor" but use their top notch sales agreements!

Like everything else

KNOWLEDGE IS POWER

Let us ALL take the time and effort to exercise due diligence and protect our best interests!

Here is some great broker advice to you...

NOBODY CAN TIME THE MARKET

Good luck/good karma to you all

g york of @ Aug 16, 2008 17:59:18 PM

You Don't know what you are talking about...W.M.Weirich of CA

I am a professional Realtor and a Broker. I am dedicated and I work hard for my clients. I am a professional. I do not get paid unless the deal closes, but if that is my only motivation, you will be a one time client. Any Realtor worth his or her salt is looking for repeat business and referrals. We won't get that unless you are happy with your services. I am not working for the one time sale.

Why don't you try bashing some other profession for a change. Just because you read it in a book doesn't make it true.

H in Northern VA of VA @ Aug 16, 2008 17:42:31 PM

real estate agent

Yes are some litle number who are deccent ! generaly are imbecilik how much money they want for their services !

Should be against the "law" ! If we have some law in our land !

Wilhelm Schwabe of NC @ Aug 16, 2008 17:30:35 PM

6 Signs of a Crummy real-estate client

1.Out of touch. The listing agent follows up every appointment with a letter or phone call. Leaves mesages for you on your home and cell and you don't respond to timely follow up. Usually throws away anything you mail them and says "If you had an offer you would have said so." Only time the agent hears from you is when your not happy and feel the need to vent, most of the time non-real estate related!

2. No Advice. From prelisitng appointment to six months listed you have been telling the client things that will help the property sell. Clean out the basement, nobody wants to see grandmom's bloomers drying on a line.

Owner completely ignores and then tells you when they choose not to relist that you offered no advice. You mean you chose not to listen to what your agent offered.

3. Insists on affiliates. Buyer says his brother's next door neighbor's cousin does mortgages and owns a title company. he said he is going to do it for free for me! Any decent agent has been down this road before! Mortgage rep doesn't return calls and title policy usually doesn't come in till the day before schedule settlement. Let's not forget the mortgage package shows up and is nothing what the buyer was told he was getting and there is a judgement still showing up on title that you sent the title company the sat piece at least 5 times. Guess what the buyer says? How did you let this happen? I tell them call your brother's next door neighbor's cousin because of course they didn't come to settlement!

4. Part-time gig. Usually you can put an end to Friday night phone calls at 11:30pm. I just set my alarm for Tuesday morning at 4:00am and return the favor. We as agents have families and lives and helping coach my daughter's soccer team had a client see me on the field and question what I was doing? I asked what they were doing and they replied they just figured I would be working and I asked them if they worked today! They got the hint! Real esate has become 24hrs a day seven days a week. Just amazing that when you tell a client time is of the essence they don't understand but they expect calls to be returned within 5 minutes.

5. Keeps it in the family. I tell clients all the time there are some properties I will not show because of the listing agent. Every good agent knows the ones I am talking about in their marketplace. You can give them a full price offer on a brand new lisitng and they somehow produce their own offer above asking price. Your personal inventory or your office's just allows you to have better control over transaction and ultimately get your client a better price.

6. Behavior problems. I applaud this because how some agents who continue to appear on these disciplinary list keep getting clients to go back to them amazes me at times.

Chris Mattioli of PA @ Aug 11, 2008 14:38:22 PM

Realtor Incentives - Freakanomics

Read the chapter in "Freakanomics" - the book - and the incentive system's impact on how realtors (small r) behave. The conclusion is really quite basic: They act in their own self interests, first, and foremost. It is the WAY IT IS. Fi you remember this point, then you'll have a good starting point when dealing with them. They are there to 'CLOSE' and nothing more. Fastest close possible, is the best deal - for them, personnally. If you think they work for you buyer, or seller, rethink your stance. They work for themselvesk period. In simple transactions, you are much better off doing your own thing with a reptuatlbe Title Co., on your own, and rewarding your work - with a price reduction. Not everyone is cut out for that much work, but you are at least working in YOUR BEST INTERSTS then. On the flush out of the weak realtors by this bad market, I do hope it does exactly that. Many are not Professionals. Read the book. Its good.

W.M.Weirich of CA @ Aug 10, 2008 12:30:23 PM

The REAL joke is why I don't quit my job as a REALTOR®

Have heard the joke about the politicians? "It's the ninety percent that are the crooked that give the other ten percent a bad name." Guess most people feel the same about REALTORS, and the media does not help.

I work 12-20 hour days, seven days a week, spend my money to market homes with advertisements, professional virtual tours, stagers, signage, etc. and I made $20,000 less last year (about $35,000 - before taxes and expenses) than Ithe year before and I may make less this year.

I spend at least 1-2 K a year for continuing ed to keep myself abreast and for designations (and dues) to differentiate myself. Our National, State, and Local Association of REALTOR® Dues are over $400 a year...

If I have a Relocation Listing Client - it takes hours to properly prepare a CMA - that is if you are ACTUALLY studying the neighborhoods and each property as you should - it sometimes takes hours to prepare a saturation report in order to prepare a ERC report which can take a full day and requires you to visit at least three comparable properties ahead of time. Not to mention the time to photograph those houses and prepare the Photo Addendum which is done before the professional photographer takes his photos.

I have worked nine months for one buyer client before, for a $185,000 sale which grossed me $2424.24 before taxes and expenses.

I am currently working with 5 buyers, the longest for 4.5 months, and I have been showing houses to one client since January of 2007 (an elderly lady who likes to go see 2-3 houses every month or so because she has nothing better to do I guess, so I do not have the heart to say no to her). These people may never buy - who knows!?

I spent $175 for gas last week driving just one of my clients to see almost 40 houses in the $180,000-$200,000 range, first researching each of those properties to get square footage, mortgage pay-off information, disclosures, actual days on the market, etc., etc., etc. I picked them up from their hotel instead of meeting at my office. Who picks up their clients?

I wrote 4 different offers for that client trying to find someone willing to accept 'too-low' offers.......BECAUSE EVERY BUYER OUT THERE HAS TO GET A HOUSE FOR 'RAPE AND PILLAGE PRICES' or they are not interested.

Day before yesterday I picked up a client in downtown Atlanta during rush hour, took him to see a listing in another county which had already gone under contract but he insisted he needed to see for 'educational' purposes, then dropped him off at his doorstep, drove back to the office at 8:30 PM, and wrote and presented a contract for another client.

Last week I saw a foreclosure with no appliances, no baseboards, no light fixtures no HVAC, no light switches, with the ceiling kicked through and insulation everywhere. That home was fairly clean. I have seen homes with the smell so bad you cannot enter, one with a swimming pool used as a trash dump for months.Some where the water was left running, and mold growing, some with even the copper wiring and copper plumbing torn out, and one with the gas meter removed.

Last week I got knocked down at the door by a 100 chocolate lab, backed into a mailbox because the driveway was so steep it was 'invisable' and which will probably cost me $500 to replace - not to mention the cost to repair my car.

One agent I know worked on one deal 6 months on a pre-foreclosure, and then when they got the counter-offer last week; it was fifty thousand OVER the listed asking price because the agent priced it to get an offer.

- Such a great and cushy job - the life of a REALTOR®.

The REAL Thing of GA @ Jul 20, 2008 16:33:09 PM

Realtors can't fill out paperwork?

I've read many of your articles now and must let you know that real estate laws vary greatly from state to state. In one article, you mentioned that real estate agents can not fill out the contract paperwork for a seller and/or buyer. In Arizona, we absolutely do. Our state laws enable us to fill out whatever contractual paperwork is necessary to complete a real estate transaction. As with brokers and agents in Texas, we go through a rigorous in-class training program as well as continuing education for as long as we remain licensed.

Your comments are incredibly general in nature and do not take into account the numerous variables that exist from one location to another.

I have no idea what real estate agent you feel wronged by, but on behalf of all hard working, well educated and completely dedicated real estate professionals in this country, please allow me to appologize on that agent's behalf.

Kellie Fitzgerald of AZ @ Jul 19, 2008 15:11:56 PM