why are real estaTE BROKERS SO SHADY?????

Massive competition, simple entry into field, no regulation.

The lure of easy money, followed by the discovery that it's not so easy after all.

I think more fundamentally it is a business terribly frought with inherent conflicts of interest.

Agreed. Absolutely.

The consumers don't help either. Most brokers I meet leave me wondering how they are still in business. But clearly someone is still dealing with them and paying them.

TheStreets: word! (Okay. It feels silly saying that. You are absolutely right.)

you mean because they are car salesman, incompetent, shady, liers, and really in it ONLY for their commission at the end of the deal and therefore have a vested interest in making the deal happen; which is why cheerleading is a common theme among most agents?

Hmm, why the hell do I get so much slack for speaking my mind and discussing the red flags that may ultimately hit our market then? I recall:

- doom & gloom blogger or real estate agent; pick one
- Halstead should have a serious talk to you
- who in their right mind would work with a broker like you

ironic isn't it!

I have met a number of brokers whom I consider honest. I've even met some sellers brokers who repped their clients well while still being pleasant (and even honest) to deal with from the buyside. Most brokers say they are trying to develop relationships rather than transactions, however, the lure of the commission is usually stronger... Get recommendations!!

totally agree with anon even before I became an agent. There ARE plenty of honest, smart, hard working, ethical agents out there. I do not think its the majority. In the end, recommendations are great but YOU need to feel comfortable with the agent and sizing them up. In my opinion, anyone can search and find a listing online, its these services that put a good agent above & beyond:

1. property valuation
2. best product in price point
3. how monthlies should affect purchase price on open market
4. how market conditions should affect negotiating
5. permanent features to be focus and to put your money towards
6. resalability of product for top dollar
7. comps analysis
8. bidding strategy
9. guide through transaction process to closing
10. neighborhood expertise

Most of this comes right before you bid. Simply my opinion. But having an agent who knows what is going on out there and can advise you properly on the above, is worth it in the end. If your agent seems to have a different agenda, dont use them!

I got lucky. I met my broker at an open house she was holding. She "grew up" as a lawyer at a major firm, and got tired of that business and got into real estate. She is very ethical, always respecting the fine lines of her role in the transaction, and always makes you feel like you are her only client. THAT my friends is an art, and hard to find in NYC! Before I found her, I would get in touch with a broker and they'd show me one or two places and if I didn't buy they would not return calls, or lose interest.

There are so many brokers out there. If you don't immediately hit it off with yours, move on. Eventually you will find one you click with and it makes the entire process much more bearable and sometimes even fun.

We went to open houses for 3-4 months before we got serious about a few apartments. Our requirements (3 BR, UWS - primarily WEA) and logistics (we live in NJ) limited the number of OH we could go - but we went to well overt 2 dozen. We rarely stayed for less than 30 minutes and often stayed longer. We always made a point of spending a fair amount of time talking to the broker. Most did not appeal to us. If we felt comfortable with the broker, we looked at their other activity and their bio.

We found two - one we used above 86 St and the other below 86 St. They both lived in their respective areas. We were comfortable with both at a personal level. One had been a CPA, knew all the buildings we cared about above 86th street and had an associate who worked very closely with us. When we got serious he was there and very helpful. The other is a lawyer, knows a lot about buildings below 86 St and did an excellent job of understanding what we wanted - and helping us to better understand what we wanted.

Both were better at showing us why we might like an apartment than why should avoid it. Both sometimes encouraged us to bid, when they might better have helped us focus on problems. Both were happy to show us as much as we would look at - despite our ignoring some of their advice. We would comfortably recommend both of them, but would caution buyers to do their own research as well as getting all they can from their broker.

In conclusion, one way to find a broker is to go to a lot of OH's that meet your needs and talk to the brokers.

Only one thing about finding a broker through attending an OH - from what I understand some brokers use OH's as a way to get buyer clients which raises the questino how ethical they would be in representing you. Though ultimately at the end of the day it really doesn't matter as long as you're comfortable with the person.

Agree with everything above