Shady Realtors

Same here I too would end that deal and ensure that this individual is out of a job. So I think that you have to look up your realtors or report them for any shadyness.

 

I work with Realtor, mortgage processors and attorney's involved in the buying and selling of real estate as part of my everyday job. I have in the last seven years only dealt with one realtor that did things I felt were questionable. Most realtors will tell little white lies, I like that buyers and sellers always seem to think that the property transaction will be quick. Short of a cash deal this is something that seldom happens. Just to get qualified for a loan takes time. I would imagine that it starts like this- I want to close this sale fast because I have to 'Fill in the blank" Oh yes we can do that no problem. Then as it takes the time it should, the realtor just blames it on the property manager, or the attorneys. You only see them once or twice so they get no heat and the Realtor keeps the sale. Do you think if they told the truth about how long and stressful the actual process is they would get a potential client? Nope we live in the instant society now.

Some realtors just do not do their due diligence on a property, they may have no idea the age of things like a furnace because they didn't bother to look, and why should they? The home owner usually has an inspection done anyway. It is business, and whether you are selling cars, houses, or gold fish the bottom line is they will say and do what you have to do to make money selling whatever it is you might buy. That's what they do plain and simple.

I heard a horror story of one agent that was so bad she went to a town house that was suppose to close that day and called the owner out because they did not sign the papers yet. As it turned out the man died that day and this heartless wench went on to just rip the grieving wife to shreds demanding she sign right then. She was literally waving the contract in this poor woman's face. I get there is money involved and contracts might have to be re-done but in this case the decision was in such poor taste I would be amaze if that woman ever sells another piece of property ever again. In my opinion had I been that owner with the husband that died I would have had that realtor arrested for harassment. I would have sued her blind.

 

I worked with a shady realtor when I purchased my home about 10 years ago and it is sad to say that I ended up losing the home as a result. The realtor sold me the home and then helped me refinance a couple years later to put some money in our pockets...the realtor and the Mortgage fiance were married! Lessons learned for the future and I am now a much smarter person.

 

What I've found over the years in the Realtor world are there are a ton of hacks, a number of sleazebags, and some real pros. The hacks aren't particularly problematic if you know your stuff, but they can be time wasters. The sleazebags can be real trouble and it pays to head warnings of said. When you find a pro, that has business ethics, and really know their stuff, stick with them. I buy/sell our properties with such a husband/wife team now and I'm glad we found them.

 

Realtors provide a valuable service, but they get paid in gold for their work, so it's just natural that they want to profit some more at our expenses. Nothing like keeping both our eyes open so that we don't lose money.

 

You're asking who the realtor is working for if he represents both the buyer and the seller, well that has a very simple answer: he's working for himself!
But that's not a bad thing mind you, he wants to make as much as possible, but needs to get the deal done, so he'll make whatever is possible to find an agreement, he's not rooting for either side specifically.

 

I agree. Just because they are working with a buyer and seller it doesn't make them sleazy. The only way to avoid that is to deal with someone that doesn't have a listing you want. But what if they sign a new listing that is perfect for you? Are you not going to buy it? If you find a good realtor then you should be ok. There are bad people in all jobs.

I was pretty happy with the one that sold us our house. I also like the one my brother is using right now. I looked at a house with her. She was looking for issues, not just trying to sell the house. In the end, she recommended that we didn't buy that house because of a few issues. She said she had a bad experience with a builder and doesn't want others to have the same problems so she looks for any problems that would have to be corrected and will mention them.

Just like with anything else. Do you homework. If you don't know anything then how can you ever know if they are trying to pull a fast one on you? Learn as much as you can and if possible, bring someone with you that knows what to look for in a house. Then you have an extra set of eyes to help you out. It is just like buying a car.

We went to an open house. The realtor seemed great till we said we had an agent. He seemed uninterested at that point. He also told a couple small bs lies. He was also arrogant. After that short meeting with him I would never sign with him. You have to treat everyone good. If you treat them better then someone else you might end up getting that client. Or you could get a recommendation from that person.

Just pick your realtor carefully and learn as much as you can.

James

 

As a Business Broker and a Commercial Real Estate Broker, some of the comments here are fair - even some of the negative ones - and others have no idea what they are talking about! In the majority of states, a Real Estate Agent that represents both sides is called a "dual agent". It is legal - again, in most states - but the Agent must disclose that he/she is doing this and obtain agreement to this situation IN WRITING, from both sides of the transaction. There are good doctors and bad doctors; good auto mechanics and bad auto mechanics; good...well, you get the idea. There is no question but that there are good Real Estate people and bad ones. But there are also good Buyers and bad Buyers - good Sellers and bad Sellers. I have just had a Buyer for a Restaurant run me around, doing research for him, negotiating several failed offers (his fault,) for three months; then, when he saw the opportunity he really liked, he tried to buy without me. If he had succeeded, I would have worked for three months, free of charge. I have also had Sellers try to circumvent my commission, after working for as much as a year on their behalf. My side of the business is more difficult in that way than the Residential Agents you are more familiar with, but there are all kinds of stories of that kind. Do some get rich? Certainly. But they are in the minority. And the good ones do perform valuable services, in an honest, hard working way. Do you always need a Realtor? I tell people they do not, fairly regularly. But in the vast majority of cases, the Agent or Broker earns his/her commission in terms of savings to BOTH the Buyer and Seller, in the way of time, avoidance of legal issues, assistance with mortgage terms and far, far more. The key is to get references. Ask someone who has had a good transaction who they used. Should you always do it yourself? I don't know; do you do your own colonoscopy?

 

I've heard of that a couple of times. I think it's against the law in many states to represent the buyer and seller. I think it's so very unethical for any real estate agent to straddle that line because you lose focus of whom's interest they are looking out for. When it comes to selling or purchasing a home, I tend to work with one person. I also have a wonderful list for each state when I want to purchase property in their region. I'm the type of person who likes retention.