Comments on: Ask Us: So Why Do I Need A Real Estate Agent? http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/ Real Estate, Insight, Statistics, Gossip, & News...With a Twist and Some Flavor Thu, 09 Feb 2012 07:18:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: fluj http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8996 fluj Wed, 13 May 2009 16:37:02 +0000 http://thefrontsteps.com/?p=4740#comment-8996 That's not true. The commission will remain rather large, relative to the sale price. Therefore the chief motivation criticism that can be levied at agents is that they only want to get the sale done, regardless of the client's best interest. It seems as if you're speaking in general terms about something that specifically might have happened to you, Dan. Because "A broker they know coincidentally hears about the listing ..." doesn't fly either. Every agent should be hearing about everything that might be of interest to a client. It's all on the MLS. That’s not true. The commission will remain rather large, relative to the sale price. Therefore the chief motivation criticism that can be levied at agents is that they only want to get the sale done, regardless of the client’s best interest. It seems as if you’re speaking in general terms about something that specifically might have happened to you, Dan. Because “A broker they know coincidentally hears about the listing …” doesn’t fly either. Every agent should be hearing about everything that might be of interest to a client. It’s all on the MLS.

]]> By: Dan http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8995 Dan Wed, 13 May 2009 08:06:58 +0000 http://thefrontsteps.com/?p=4740#comment-8995 Agents have all kinds of angles you don't and will never hear about. None of it is geared towards your best interest when such a big commission is involved. Everything they say is a manipulation. Everyone knows everyone else. They get you to lower the asking price, then a broker they know coincidentially hears about the listing and ends up getting it. Favors are everywhere. Agents have all kinds of angles you don’t and will never hear about. None of it is geared towards your best interest when such a big commission is involved. Everything they say is a manipulation. Everyone knows everyone else. They get you to lower the asking price, then a broker they know coincidentially hears about the listing and ends up getting it. Favors are everywhere.

]]> By: Lone Mountain http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8852 Lone Mountain Wed, 22 Apr 2009 18:54:44 +0000 http://thefrontsteps.com/?p=4740#comment-8852 Blah Blah Blah. Look here's the deal. Buyers are very protected in SF. The forms are all standardized. I used an agent on my frist purchase and itw as great. The seller pays so in the back of my mind I know that my agent has no interest in lowering the price of the purchase. My buyer's agent wants to churn and burn and move on. As long as I feel happy and he gets paid. Next time around I will probably do it all myself. Earnest money is rarely lost by a buyer. Specially before contingencies are lifted. If I ever use a buyer's agent, I would negotiate something wehre the commission does not go down even if the bid does go down. This would de-incentivize the buyer's agent from (1) not bidding down and (2) only looking for the most expensive homes. Blah Blah Blah. Look here’s the deal. Buyers are very protected in SF. The forms are all standardized. I used an agent on my frist purchase and itw as great. The seller pays so in the back of my mind I know that my agent has no interest in lowering the price of the purchase. My buyer’s agent wants to churn and burn and move on. As long as I feel happy and he gets paid. Next time around I will probably do it all myself. Earnest money is rarely lost by a buyer. Specially before contingencies are lifted. If I ever use a buyer’s agent, I would negotiate something wehre the commission does not go down even if the bid does go down. This would de-incentivize the buyer’s agent from (1) not bidding down and (2) only looking for the most expensive homes.

]]> By: anon expert agent http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8847 anon expert agent Tue, 21 Apr 2009 21:36:03 +0000 http://thefrontsteps.com/?p=4740#comment-8847 I have two types of real estate licenses and have run two successful real estate businesses. I look at real estate all day long and when I'm not, read all about real estate. I eat, sleep, and breathe real estate. What I can tell you all is this... no matter how much you know, you can never know enough. I have never stopped learning in this business and everything I learn helps me help my clients on each and every transaction. For those that think real estate expertise is something you can just pick up by reading blogs and perusing articles, you have no idea how important the experience aspect of being in real estate is. It's the experience that makes you valuable as an expert, and if you're going it alone, how much experience do you have? What, one, two, maybe five transactions in your entire life? Hmmm, better rethink your approach. And for the person that doesn't want a buyer's agent, go for it. When you lose your earnest money because you didn't know how to protect it, maybe you'll change your mind. And you're just plain wrong about no competition in the marketplace. SF's most desirable properties continued to get multiple offers all through the downturn (yes, even in Oct and Nov '08). If you're after the crappy properties, however, have at it. No one wants them and you won't have much competition. But then, you'll likely be stuck with a non-performing investment. But Refin won't care, they'll happily get you into it and rebate half their commission. An expert wouldn't let you buy that piece of crap in the first place. Agents desperate? How do you know? Are you an agent? Are you desperate? I'll tell you this - only the shitty agents are desperate. True real estate experts that add value to their client relationships have staying power no matter the market condition. The number one agent in SF sold $250M in real estate last year in a down market. There were another handful nipping at her heels, and hundreds more who did VERY well. Desperate? Not if you're any good you're not. Taking into consideration everything I know about real estate, the businesses I've run (and continue to run), all the books/articles/blogs I've ever read, all the situations and experiences I have under my belt, the licenses I hold, the transactions I've been a part of, the negotiations I've fought through, all the details I handle and fires I put out each and every day for my clients while getting about 5hrs sleep, and all the very intelligent people I've represented who agree that my service was absolutely invaluable... I would say you are making a HUGE mistake by not having professional representation during any transaction, period. Sorry to be so forceful, folks, but I know how hard I bust my ass, I'm proud of the expertise I have and how it helps my clients, and I'm sick of people bashing ALL agents because of the hucksters in our industry. Instead of agent bashing, why don't you realize there is a hierarchy and work with the best-- leveraging their expertise to your benefit. That's a winner mentality. The loser mentality is to bash the industry or to find the cheapest advice. What the hell does that do for anyone? Be a winner. Good agents earn every penny and make their clients even more. Good luck out there. I have two types of real estate licenses and have run two successful real estate businesses. I look at real estate all day long and when I’m not, read all about real estate. I eat, sleep, and breathe real estate. What I can tell you all is this… no matter how much you know, you can never know enough. I have never stopped learning in this business and everything I learn helps me help my clients on each and every transaction. For those that think real estate expertise is something you can just pick up by reading blogs and perusing articles, you have no idea how important the experience aspect of being in real estate is. It’s the experience that makes you valuable as an expert, and if you’re going it alone, how much experience do you have? What, one, two, maybe five transactions in your entire life? Hmmm, better rethink your approach.

And for the person that doesn’t want a buyer’s agent, go for it. When you lose your earnest money because you didn’t know how to protect it, maybe you’ll change your mind. And you’re just plain wrong about no competition in the marketplace. SF’s most desirable properties continued to get multiple offers all through the downturn (yes, even in Oct and Nov ’08). If you’re after the crappy properties, however, have at it. No one wants them and you won’t have much competition. But then, you’ll likely be stuck with a non-performing investment. But Refin won’t care, they’ll happily get you into it and rebate half their commission. An expert wouldn’t let you buy that piece of crap in the first place.

Agents desperate? How do you know? Are you an agent? Are you desperate? I’ll tell you this – only the shitty agents are desperate. True real estate experts that add value to their client relationships have staying power no matter the market condition. The number one agent in SF sold $250M in real estate last year in a down market. There were another handful nipping at her heels, and hundreds more who did VERY well. Desperate? Not if you’re any good you’re not.

Taking into consideration everything I know about real estate, the businesses I’ve run (and continue to run), all the books/articles/blogs I’ve ever read, all the situations and experiences I have under my belt, the licenses I hold, the transactions I’ve been a part of, the negotiations I’ve fought through, all the details I handle and fires I put out each and every day for my clients while getting about 5hrs sleep, and all the very intelligent people I’ve represented who agree that my service was absolutely invaluable… I would say you are making a HUGE mistake by not having professional representation during any transaction, period.

Sorry to be so forceful, folks, but I know how hard I bust my ass, I’m proud of the expertise I have and how it helps my clients, and I’m sick of people bashing ALL agents because of the hucksters in our industry. Instead of agent bashing, why don’t you realize there is a hierarchy and work with the best– leveraging their expertise to your benefit. That’s a winner mentality. The loser mentality is to bash the industry or to find the cheapest advice. What the hell does that do for anyone? Be a winner.

Good agents earn every penny and make their clients even more. Good luck out there.

]]> By: Tom Wilkens http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8843 Tom Wilkens Tue, 21 Apr 2009 17:28:23 +0000 http://thefrontsteps.com/?p=4740#comment-8843 I understand the frustration with the lack of communication between an agent and the party that he/she is representing. Did you know that some agents belong to companies that you as a buyer/seller can log-in to see the feedback on the house and/or property? Also another topic up for discussion might be that "Is NAR (national association of realtors) inflating its membership" See article: www.viewmylisting.com/is_nar_inflating_membership.htm www.viewmylisting.com/homes-for-sale I understand the frustration with the lack of communication between an agent and the party that he/she is representing. Did you know that some agents belong to companies that you as a buyer/seller can log-in to see the feedback on the house and/or property?

Also another topic up for discussion might be that “Is NAR (national association of realtors) inflating its membership” See article: http://www.viewmylisting.com/is_nar_inflating_membership.htm

http://www.viewmylisting.com/homes-for-sale

]]> By: ilcor http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8840 ilcor Tue, 21 Apr 2009 00:55:44 +0000 http://thefrontsteps.com/?p=4740#comment-8840 Here's the thing . . .you want to put in an offer, great. But what if it does not work out? What if you get a counter? What if you find out something during your discovery period that you did not expect? What if you didn't ask the right questions? Appraisal? What if it doesn't? My observation after 30+ years of real estate is that folks rarely buy without an agent, even if they think they've found the perfect property. Just does not seem to work out, for any of a myriad of possible reasons. A good agent sees 'problems and issues' up front and either gets them solved or moves you on to another property. Unless you've been around the block as a buyer you may not even know what I am talking about . . . Anyhow, best of luck! Here’s the thing . . .you want to put in an offer, great. But what if it does not work out? What if you get a counter? What if you find out something during your discovery period that you did not expect? What if you didn’t ask the right questions? Appraisal? What if it doesn’t?

My observation after 30+ years of real estate is that folks rarely buy without an agent, even if they think they’ve found the perfect property. Just does not seem to work out, for any of a myriad of possible reasons. A good agent sees ‘problems and issues’ up front and either gets them solved or moves you on to another property. Unless you’ve been around the block as a buyer you may not even know what I am talking about . . .

Anyhow, best of luck!

]]> By: agentfan http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8839 agentfan Mon, 20 Apr 2009 23:00:54 +0000 http://thefrontsteps.com/?p=4740#comment-8839 I'm in a transaction right now and my agent has earned every penny. We're buyers. I'd pay her double. We were lost and OMG would we have been screwed without one. I have new respect for them, especially here in SF. I’m in a transaction right now and my agent has earned every penny. We’re buyers. I’d pay her double. We were lost and OMG would we have been screwed without one. I have new respect for them, especially here in SF.

]]> By: anon http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8836 anon Mon, 20 Apr 2009 16:10:25 +0000 http://thefrontsteps.com/?p=4740#comment-8836 A buyer's agent? In this market where you have almost no competition? You'd be crazy. When there were bidding wars you needed a buyer's agent. Now you don't at all. Agents are so starving for deals right now that you're more likely than ever to face pressure to just buy something, anything, no matter the price. If you really cannot negotiate on your own or need help with the papers, then use a discounter like redfin or retain an agent on an hourly basis. A buyer’s agent? In this market where you have almost no competition? You’d be crazy. When there were bidding wars you needed a buyer’s agent. Now you don’t at all. Agents are so starving for deals right now that you’re more likely than ever to face pressure to just buy something, anything, no matter the price. If you really cannot negotiate on your own or need help with the papers, then use a discounter like redfin or retain an agent on an hourly basis.

]]> By: fluj http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8834 fluj Sun, 19 Apr 2009 17:45:36 +0000 http://thefrontsteps.com/?p=4740#comment-8834 Some folks are equipped for this. Some are not. I just found some clients a killer offmarket place that they're considering. (It's not quite perfect for them, but it's close.) I do not stop working for them because I know that one day something will work out, whether it's on the MLS or not. I would be careful about perceived savings. Say the listing agent will do it for 3 points? Are you really getting a 20 - 30 K discount? If you are, then great. Go for it. Some folks are equipped for this. Some are not. I just found some clients a killer offmarket place that they’re considering. (It’s not quite perfect for them, but it’s close.) I do not stop working for them because I know that one day something will work out, whether it’s on the MLS or not. I would be careful about perceived savings. Say the listing agent will do it for 3 points? Are you really getting a 20 – 30 K discount? If you are, then great. Go for it.

]]> By: Tom http://thefrontsteps.com/2009/04/17/ask-us-so-why-do-i-need-a-real-estate-agent/comment-page-1/#comment-8832 Tom Sun, 19 Apr 2009 05:45:51 +0000 http://thefrontsteps.com/?p=4740#comment-8832 I used Redfin and was very happy with them. They offer 50% commission refund. My Redfin agent did all the handholding during the offer and negotiation process. You are expected to do your own research finding suitable properties on their website (very user friendly and addictive site). I used Redfin and was very happy with them. They offer 50% commission refund. My Redfin agent did all the handholding during the offer and negotiation process. You are expected to do your own research finding suitable properties on their website (very user friendly and addictive site).

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