Posted by Jack on April 13, 2006 at 10:36:05:
If you have been investing twice as long as I that makes you about 70 years old, nearly the same as me and hardly a “kid”,Fresco. Sounds like to me two old f**ts should get along better. I will stack my knowledge against yours anytime. I don’t grind axes, I just tell it like it is. Whats your excuse for your derogatory comments? By the way you did not say whether you are a R.E. agent or not?
Real Estate Agents Are Useless to me - Posted by Dub
Posted by Dub on April 12, 2006 at 13:23:33:
Im venting,
I would love a world where the owners talk directly to interested buyers to avoid the b.s. im going through now. Me and my wife have done several flips and are now buying a home for us to live in that we reallyt like. But both our agent and the sellers agents are playing games. If I dont hear from my agent soon im going over her head to the sellers agent and talking directly. I dont have a contract with my agent, but have made an offer on the home thorugh her. Am I obligated to stick with her, or can I go to the sellers agent directly.
Wade
Re: Real Estate Agents Are Useless to me - Posted by SB
Posted by SB on April 13, 2006 at 20:16:35:
Unless your agent works by himself/herself, talk to the broker-in-charge at their agency. This sometimes produces results, especially if the broker-in-charge knows how many people you will refer away from their agency unless you are satisfied. Might be worth a try.
Re: Real Estate Agents Are Useless to me - Posted by speednxs
Posted by speednxs on April 13, 2006 at 04:58:23:
>I dont have a contract with my agent, but have made an offer on the home thorugh her. Am I obligated to stick with her, or can I go to the sellers agent directly.
I would look carefully at the paperwork you signed when you made the offer through the agent. I have a hard time believing this didn’t include some kind of buyer’s agent agreement. This makes going around the buyer’s agent dangerous.
Buyers and sellers almost universally agree that the deal would be better if the real estate commission was lower. This is why both agents won’t let buyer and seller talk directly to each other. It also means that any whiz bang argument you have will get filtered out by one agent or the other. Just another reason why many investors avoid MLS listings and (seller’s) agent representation.
If the buyer’s agent showed you the house, but you didn’t make an offer through them, then the situation is murky. The agent will strongly think that they represent you. The buyer can say “I never agreed to anything, I was just looking”. That’s what courts are for.
Agents deal with flakey buyers and sellers and buyers and sellers deal with flakey agents all the time. It doesn’t seem realistic that the buyer’s agent would present an offer without a contract with the buyer in place.
The fact that no offer has been presented and no contract is in place is kind of consistent.
Re: Real Estate Agents Are Useless to me - Posted by rdlazo
Posted by rdlazo on April 12, 2006 at 17:36:05:
I don’t know what game agents play because if the transaction don’t close they don’t earn the commission. I am curious to know what real reason why your offer is not getting to the seller.
Good luck
Agents Occasionally Earn their fees - Posted by Jimmy
Posted by Jimmy on April 12, 2006 at 16:48:39:
I almost never use agents to purchase properties, unless the agent finds me a deal I did not already know about.
Most of my deals are not listed, which means most of my deals are completely unbrokered.
when I find a listed deal I like, I do my own negotiating, and I “take” the 3% buyer’s side of the commish. This is perfectly OK in TX. Listing agents holler and scream. So I send them the legal opinion from the General Counsel of the TX Real Estate Commission, and they usually shut the hell up. I am not asking them to share a commish (this is not ok). I am asking the seller to rebate to me 3% of the deal. what always happens next, is the selelr commanding the listing agent to cut his commish in half. It works almost every time, if my offer is the best one (from the SELLER"S point of view)
Whsn I am selling, I never list properties. I can usually find my own buyers. and I do not need representation. But I will allow a 3% commish to the buyer’s side sometimes.
The Point: Use agents when you need to. Use them when you are in an unfamiliar market. Use them if you are uncomfortable producing all the paperwork to get a property bought or sold. But never feel obligated to use one.
Re: Real Estate Agents Are Useless to me-Yes - Posted by Jack
Posted by Jack on April 12, 2006 at 13:39:39:
If you have no contract with “your” agent she is not legally “your” agent and you have no legal obligation to him/her. “Your” agent is is most likely planning on getting paid a part of the Seller’s agent’s fees, which means the seller is paying anyway. For that matter you have no legal obligation as it sits now to the Seller’s agent. That’s between the seller and what ever contract they signed with their agent. You can even go direct to the seller if you like. It is the Seller’s responsibility to honor any contract they may have. If it is a non exclusive contract or one that has expired, depending on the wording they may owe the agent nothing.
Re: Real Estate Agents Are Useless to me - Posted by Jack
Posted by Jack on April 13, 2006 at 06:34:16:
Fairly good explanation and good reason the Subject Title is correct. Both you and the seller should look carefully at what you signed.
Re: Real Estate Agents Are Useless to me-Yes - Posted by The Frisco Kid
Posted by The Frisco Kid on April 12, 2006 at 23:23:15:
Jack
I hope no one on this site takes anything you have to say about real estates sales seriously because it’s obivous that what you know is zip. I notice you like to post on any issue or subject no matter how little you know about it.
Re: Real Estate Agents Are Useless to me-Yes - Posted by Jack
Posted by Jack on April 13, 2006 at 06:28:05:
Well Mr Dip, opps sorry you said zip, considering that I have been an active real estate and mortgage investor for over 25 years now, I believe I might have learned a thing or two. It may not always be what some people like to hear, but the truth it is, never the less. I have no ax to grind, but maybe you do, especially if you are an agent?
Re: Real Estate Agents Are Useless to me-Yes - Posted by The Frisco Kid
Posted by The Frisco Kid on April 13, 2006 at 09:05:06:
Jack
If you don’t have an axe to grind, why do you continue to do it? Secondly I have been investing twice as long as you, does that make me twice the expert? And yes you may have learned a thing or two and that is sad, you should have learned so much more.