(Closed) Real estate agent problems or am I overreacting?

posted 4 years ago in Home
  • poll: To replace or not to replace?
    Replace your RE agent, you can do better : (6 votes)
    20 %
    Keep your RE agent, it's not that bad : (24 votes)
    80 %
  • Post # 2
    Member
    84 posts
    Worker bee

    View original reply
    bellanotte11:  I’m sorry you are having a struggle with this. As a RE Agent I’m going to try to clarify some issues you may be having. When you are saying homes have sold recently that you were not notified of, they could have been under contract and therefor not available to show, usually there is a time period between an accepted offer out of attorney review and the actual close date, homes don’t “sell” until the actual close date. I have had houses be under contract for 2-3 months, but my clients were no longer showing because it really wouldn’t be available unless buyer backed out or if they had a contingency. 

    Somtimes homes sell quickly because the agent did an office exclusive or the agent had the buyer already lined up. He could know every agent in your city but that doesn’t mean he knows about the up coming listings. 

    When homes have offers in hours, sometimes think of your schedule as well – I have clients who get mad when they don’t get into a house before it has an accepted offer, but the only day they can go out to look is Tuesday…If their dream home is listed Wednesday there is nothing I can do except send it to them and keep tabs on weekend activity, but it will most likely be under contract before they get to see.

     

    Why have you only seen 5 houses in 7 months? If you are a serious buyer you would have seen much more – or is this common in your area? low inventory? I think you should defintely be in more homes. 

    If your agent is good with getting back to you and answering calls – keep him, but only if you are willing to tell him how you feel. He may  not think you are frustrated or may think you guys want to take your time. Sometimes you gotta tell us what you need 🙂 

     

    Sorry for the long reponse!

     

     

     

    Post # 3
    Member
    7483 posts
    Busy Beekeeper
    • Wedding: October 2014

    It could be that some of these listings are on the MLS but not coming up in reports he sees for you because they are cash-only deals or some other condition that makes you ineligible to buy. They could also be short sales which take months to close; there may have been an offer months before you even started looking. Generally, properties that sell within an hour of going on the market already have a buyer identified; otherwise, the seller would leave them on the market for more than one hour and try to make more money.

    Local connections don’t mean as much as they used to. When there are cell phones and the Internet, everyone is local. A good realtor can call a listing agent theyve never met, and make progress on doing business.

    You may need to ask more questions of your realtor– don’t be afraid to ask why you were not made aware of a certain house– and you may need to reset your expectations.

    Fwiw I am looking for an investment property and due to restrictions on financing, rental restrictions/owner-occupancy requirements, and other stuff, there’s only about 12 condos in my city that I’m even able to buy, even though there’s over 500 on the market. I’ve seen 4, including one that was on the market for 50 days but got an offer 24 hours after I saw it (which was accepted). What you’re experiencing isn’t really unusual.

    Post # 4
    Member
    4255 posts
    Honey bee
    • Wedding: February 2009

    I know little about real estate, however, my old neighbour had a private seller lined up for their sale, and the sold sign only went up after the fact because they did not want showings, but the realtor was using the sold sign as a marketing, if you know what I mean.    I live in a rural area though, where houses can sit a while.  So if you see a realtor with a lot of sold signs, people tend to want to list with them too, hoping to speed up the process.  I am not sure if larger city agents use signs in the same way.

    Post # 6
    Member
    2639 posts
    Sugar bee
    • Wedding: April 2014 - Italian Villa

    View original reply
    bellanotte11:  I’m a Realtor as well. It sounds like you are in a really hot market. 

    Unfortunately, there is no way for your agent to know about listings before they hit the MLS unless it is their listing or it belongs to someone in their office AND they shared the info with the office. 

    The market I’m in (Denver area), it’s not uncommon for listings in a certain price range to go under contract the first day they are on the market. But an hour means something was lined up  (perhaps the seller’s agent brought the buyer). It takes that long just to get an offer written and sent over, let alone see the house and have time for the seller to agree to it.

    It sounds like your agent is working hard for you. Have you voiced your frustrations /concerns about not knowing about some houses?  I agree with PP, sometimes it looks good to you, but your agent didn’t send it to you for a very good reason. 

    Post # 7
    Member
    2394 posts
    Buzzing bee

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    bellanotte11:  I know that you’re new to the home buying experience and I know that it’s stressful, but honestly your expectations are too high. Your realtor is there to help you through the process, not to do it for you. His job is to answer any questions you have as you look for houses, to advise you, to assist you with the paperwork and the legal side of things, and to keep an eye out for homes that fit your specifications. As the homebuyer, you’re still the leader in this process. You need to be the initiator. 

    If you want to look at houses more aggressively, then you should tell him that. Let him know that you’re interested in dedicating every weekend to seeing houses until you find something that will work for you. He’ll follow your lead. If you aren’t reaching out to him and you’ve only seen seven houses in five months he’s going to asusme that you’re not serious about buying yet. 

    I truly don’t mean to be harsh, but I think you have a skewed view of what a realtor does for you. The other posters have made great points about realtors not needing local connections in this day-and-age, and there being many, many, many reasons why your realtor wouldn’t know about those houses you’re driving by, or why they aren’t/weren’t appropriate to show you.

    Another thing to remember: the house may look “perfect for you” on the outside when you drive by, but your realtor may know that the house has serious foundation issues, or has an addition that needs to be brought up to code, or that the house needs serious renovations on the inside (or, or, or…). 

    Lastly, you may need to make your wish list less specific. You’ve mentioned narrowing your search down to two neighborhoods, which is a pretty small area. If you’ve given your realtor other very specific criteria, he may be filtering out houses that don’t fit your wish list but which you may have wanted to see. 

    TL;DR: My best advice? He sounds like a normal realtor. Be more assertive about how often you want to see houses, and what you’re looking for (this may mean having a less specific wish list). 

    Post # 8
    Member
    2639 posts
    Sugar bee
    • Wedding: April 2014 - Italian Villa

    View original reply
    bellanotte11:  Whoa! Just read that you haven’t heard from him in two months! That’s insane! Never mind what I said before about him working hard for you. You should hear from him once a week, minimum. He’s given up on you. Time for a new Realtor.

    Post # 9
    Member
    12839 posts
    Honey Beekeeper

    If you aren’t being shown homes regularly, or suspect that there are many in office exclusives in the neighborhood that interests you, be open about the fact that you need to see more homes and  that you are considering using more than one agent. The one who finds you the house wins. 

    The down side is that an agent may lose interest in you as a client. I’m not sure if some buyers’s agents make you sign non-compete contracts. 

    Post # 12
    Member
    9725 posts
    Buzzing Beekeeper
    • Wedding: August 2012

    I can only speak from my experience, but when we were house hunting I basically stalked the website multiple times a day. If anything popped up I wanted to see, I called my realtor and he almost always got us in that night. I didn’t expect him to call me every time a new house popped up.

    But honestly…maybe he just doesn’t see you as being a super profitable client if you’ve only seen 7 houses in 5 months? We looked at multiple homes every week.

    Why not go to some open houses, even if they’re not exactly what you’re looking for, and see if you jive better with another realtor?

    Post # 15
    Member
    1608 posts
    Bumble bee

     To piggy back on Soon2bmrs1’s comment, we also learned from our realtor that the realtor does have access to a “notes” type section on the MLS that is between realtors and not viewable when us buyers view the MLS.  So maybe your realtor read in the notes somthing that made those houses not a good fit for you.

    Also, do you have an idea of whether your realtor was successful in a buyers market or sellers market?  It seems like he has experience in different regions.  But we found with our realtor, he had great reviews but had only been working with clients during a sellers market.  He was very uncomfortable with asking for less than listing price, but the house had been on the market for 6 months so he strongly discouraged us but did it anyway because we said that’s what we want to do.  And our offer was accepted.  He also wanted us to give the sellers 2 weeks to move out after closing but we were on a lease that was ending and so we offered to charge 200 a day and he was like, noooo people usually just give the two weeks.  And we said, no we’d rather not pay for them to live in our house while we have to rent a hotel for 200 a day.  So we didn’t offer any days, against his advice, and the sellers accepted.  He said he could get us the w/d no problem, umm nope they wouldn not budge. 

    We ended up escalating up to his manager, who helped us to understand that our realtor had been a breakout star during the sellers market but dead of winter was a buyers market so whatever. 

    It was a PITA.  Another consideration in switching, if the realtor you have now showed you the house you might not be legally allowed to have another realtor sell it to you.  It doesn’t sound like you have a house like that yet though.  But we did, so unless we were willing to give up this house we wanted we had to keep figuring out how to get the realtor to fight for us. 

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