After working with a few Realtors I just don't see the value add in using one as a buyer. Its the same story, they don't do their homework, I'm shown stuff that does not fit my criteria, I end up sending more listings about stuff I'm interested in to them than they send to me and they constantly hype how strong the market is. The bigger issue is their incentives do not align to mine. I want to get... [more]
After working with a few Realtors I just don't see the value add in using one as a buyer. Its the same story, they don't do their homework, I'm shown stuff that does not fit my criteria, I end up sending more listings about stuff I'm interested in to them than they send to me and they constantly hype how strong the market is. The bigger issue is their incentives do not align to mine. I want to get a decent place and not be gouged, they just want to close (and they are not paid by me). Every dollar bid below the offer price, lowers the probability of a close, so their incentive is always to make me bid as close to the offering price as possible (read the higher I bid the better for them). Also the more selective you are , the more they have to work. Finally once you sign the papers and close they are done and any issues are solely your problem.
This was a bid experience I went through recently. I put a bid in on a place, then all of a sudden the place has multiple bids, mine is supposedly the worse, but they counter I don't budge. My realtor advises "to be in the game you need to go 100K higher", I stand firm. I get a call 2 weeks later and they will now accept my original bid. I'm like your two weeks to late.
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Response by w67thstreet
almost 16 years ago
Posts: 9003
Member since: Dec 2008
amazing how "interest" happens when you put a bid in. same happened to me on a bank owned sailboat, a 50 footer. All of a sudden someone is flying in from SF.... WELL GUESS WHAT? the boat was just put back on the market.
In this market, to bid against a "ghost" is indeed a financial ninny thing to do....
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Response by falcogold1
almost 16 years ago
Posts: 4159
Member since: Sep 2008
JRRTax
Welcome aboard!
There are good brokers but, if you're willing to do the homework and get to the nitty gritty...who else has your best interests at heart but you? Don't fault brokers for behaving as self serving. We all do it. Some of us take professional responsibility for our life's endeavors...others are BS artists and weasels.
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Response by HopefulButSkeptical
almost 16 years ago
Posts: 88
Member since: Nov 2009
I've often thought a fixed fee consultant (say a few thousand) who is out there previewing properties, looking at comps, evaluating your criteria...would be way better than a commission based agent. During contract negotiation, they'd fight for everything you need, including any inspections/appraisals/whatever. This consultant wouldn't care if you bought something. They are merely advocating on your behalf.
Selling agents are just as bad. As a buyer, I've been outside a property only to have the selling agent text my agent to say they're 30 minutes late...or cancel completely! Ugh
amazing how "interest" happens when you put a bid in. same happened to me on a bank owned sailboat, a 50 footer. All of a sudden someone is flying in from SF.... WELL GUESS WHAT? the boat was just put back on the market.
In this market, to bid against a "ghost" is indeed a financial ninny thing to do....
JRRTax
Welcome aboard!
There are good brokers but, if you're willing to do the homework and get to the nitty gritty...who else has your best interests at heart but you? Don't fault brokers for behaving as self serving. We all do it. Some of us take professional responsibility for our life's endeavors...others are BS artists and weasels.
I've often thought a fixed fee consultant (say a few thousand) who is out there previewing properties, looking at comps, evaluating your criteria...would be way better than a commission based agent. During contract negotiation, they'd fight for everything you need, including any inspections/appraisals/whatever. This consultant wouldn't care if you bought something. They are merely advocating on your behalf.
Selling agents are just as bad. As a buyer, I've been outside a property only to have the selling agent text my agent to say they're 30 minutes late...or cancel completely! Ugh