agents....u gotta chuckle.....

hi all,

Had a call on the mobile (diverted from the office) today from an agent who had just listed a block of units.......
told him I was driving so if he wanted a quick response to fax me anything he had and i would get back to him with-in 2 hrs.
Received two pages.....
Page 1 (cover sheet) "this has just been prepared by the girls so ink is still drying"........Dated yesterday....hehe.
Page 2 (He faxed his agency listing/appraisal form) gives the owners name, address, and Ph No.......very tempted to ring and negotiate directly.
Had to chuckle under his heading of "motivations:" Keen to catch the hot market -greed!!!!..........
Guess what? way over priced!
Still........ I will offer something way below.

rossv;)
 
Ross...you expected total honesty?......yeah right:D

Let us know how it turned out.
 
Hmmm...

Well chat-room guys?

Who was it that said 2 posts.

My bid for the start of agent bashing was 3 posts, Sim, yours was 4 posts (you have more faith than I do)...

Did anyone bid 2?

Who won?

someone check the logs...

asy :D
 
Hi asy :p

I think I went for 3 as well... but I didnt realise brains would respond so quickly...

Should have learnt by now... :D

Jamie.
 
So we can salvage some merit in this thread, Asy, perhaps you can balance the ledger. Not for the sake of griping but please give us an insight as to what ticks off REAs about buyers. Too many tyre kickers or time wasters? Anything else? Your reply may educate us buyers into dealing with REAs more appropriately.

Regards, Mike
 
Hmmm...

OK Mike...

Gauntlet accepted...

What pisses me off, as an agent...

I guess it's mostly buyers AND vendors who don't tell the truth, and try to be smart by playing games.

The best way to deal with an agent (Well with me, anyway) is to tell me the truth, tell me what your parameters are, and tell me what you are looking to achieve. If I can help, I will.

You might find that I actually like helping people.

I hope I have helped a few people here, I have tried, and I really hope I have been able to...

I get annoyed when I get asked whether I have anything listed for "At least $20k under market value"... Um, if I listed it, and I put a price on it 20k UNDER market value, I don't think my vendor would be impressed. *Not to mention the illegality issue.

I get amused when vendors say, Let's try it on the market at $50k more than you think it's worth... and then think they will get that just because they have asked for it...

I get amused when purchasers offer 50k under market value (on a $200k house), and say that they should be able to buy it for that because they did this course, or that course...

I get annoyed when people ask me to do things that are not 'within the scope of the act'... I don't like that at all.

I have asked prospective purchasers to leave houses because they were not respectful of the vendor's property, I have asked vendors to find another agent because they were not truthful and did not keep their word.

I guess the main thing I dislike is smart arsed people, whether they are vendors, purchasers, or in general.

I had an 'animated discussion' with someone at Freestylers a few meetings ago, where he said that he and his wife go to inspect properties, and his wife "keeps the agent occupied" while he goes off on his own and "inspects the property properly"... um... I asked him what he looked at without the agent, that he felt he couldn't look at with the agent there... I mean it's my job to facilitate a complete inspection... He said that he liked to look around outside and around the rooms without the agent there.
I asked again, what can you look at without the agent, that you can't look at with the agent. He said, I can't look properly with an agent there. I said that it was my responsibility to ensure the vendors property was looked after. He said that if he came to look at a house with me he would do exactly the same thing. I politely asked him not to bother looking at houses listed with my agency, because that would save me asking him to leave them.

This is the kind of person I hate dealing with... The quintessential smart arse.

I have no problem with purchasers wanting to get the best deal. I have no problem with purchasers putting in serious offers, below asking price, knowing that they may or may not get the property.

I just ask people to be honest, and I reciprocate.

hope that answers your question Mike...

asy :D
 
Thanks for that honest insight, Asy. I'll keep those things in mind when dealing with REAs. Ta.

Regards, Mike
 
Thanks Asy, nice post,
i think what you said should aply to everyone in all walks of life, be honest & treat everyone with the respect they deserve,
some are more deserving than others.:)
 
Well, i look at it this way, when people stop posting on here about getting lied to, screwed or scammed by RE agents, i'll stop commenting on them.

I only call 'em as i see 'em.

If people post positively about their experiences with RE agents, i'll post a positive reply. Till then maybe you should try censorship on the forum.

In fact the whole RE industry should try censoring society (and JN while they are at it) as a way to stop the huge negative sentiment out there towards the industry.

Asy, as a business owner i can sympathise with your post, but its not exclusive to the RE indstry. It applies everywhere. But as a way to justify the dishonest actions of the RE industry, it wasnt bad.


Lastly, 2 points:

1..They say a society gets the politicians it deserves and i think it applies to the real estate industry as well.

2..There as is only one thing worse than being talked about and that is not being talked about. :) (Oscar Wilde)

ps: Apologies if i have offended anyone with honesty.
 
Last edited by a moderator:
hehe good thread

this is twice ive missed out on agent bashing !!!

asy - your reply is very true - id hate ppl that do those things if I was an agent just remember though that you are the exception to the rule (you are hoest), too many of us have been burnt by agents who dont reciprocate.

Dont take it personally, think of yourself as the exception to the rule :)

I have another story to tell - Ill even make it two parts to the story (just to balance things out.

I called an agent last week to find out the address of the listing (this is all I wanted) I played the usual game where they say the agent is out and ask me for my details - so they can add me to their database (depending on the size of the company this is usually in breach of privacy legislation)

The agent the promptly returns my call - which was great (I have no problem that they do this an I accept the practice - you can get around it if privacy is really important to you.)

What followed was laughable....I said I was interested in property X which was $X he asked me what I was looking for (half the time i have no idea what im looking for - and ill consider anything from an empty block to an over 55's studio - depending on the deal)

Anyhow I told him I was looking for the features that decirbed this property (essentially I knockdown) he then told me that this property wouldnt suit me and he would not give me the address (but he woudl have some listings coming up that would interest me)

I was pretty shocked at this reply - I asked if I could have the address just to drive past to give me an idea of the property and he refused, wouldnt even give me the street the property was in.

Up until this stage I was just having a chat with the person, I thought they were professional and even after he said he wouldnt give me the address we continued having a chat but after he refused to give me the address details for the second time I simply said he obviously could not holp me and thanked him for his time.

So I called an agent in the area that is a professional - she emails me her agencies new listings as soon as they are done - Ive never bought anything through her (although a friend has bought a PPOR though her as a result of one of her follow ups)

So essentially this agent is one of the good guys...(the exception to the rule) she also knows whats going on in the market - eg the address of other agencies listings (in this case she only knew the street - but the advert has the land size - so a min on rpdata and I had the address)

Now which agent would you prefer to deal with.....unfortunately the likes of the guy above give the industry a _very_ bad name.

Wow - longest post for a while
 
Three excerpts found on the internet:

The first two are by real estate agents.

Integrity and Excellence Are First Priorities

Above all a Realtor is supposed to honor their fiduciary responsibility. It pains me to report there are a great number who don't. I do. In other words, I must handle your transaction as if it were my own. Therefore, there is no substitute for integrity. And no excuse for not providing excellent service. Further, no reason for not doing the right thing.

If there is a choice between doing the wrong thing and making money, and doing the right thing and losing money I personally pick the right thing every time. I don't only talk the talk, I walk the walk. I'll tell you the truth, even if I'm sure that you won't like it. I'll admit, it has cost me business, (Sometimes the truth hurts, and people would rather be lied to, and end up in a bad situation out of denial, rather than face the truth and make sound decisions based on it.) The truth has been invaluable to those who have accepted the use of my services. Just ask the people who know, my past clients. I've not only included their testimonials, I've included email links to those that have them, so that you can ask them for yourself!

The real estate industry has a lot to answer for. There is a good reason why real estate agents consistently rank as being about as trustworthy as politicians or used car salesmen.

In the midst of one of life's most stressful events they will tell you anything you want to hear, just to get the listing. You then sign away 6% of the value of your home--for what? So they can stick a sign in the ground and plant a flyerbox that is always empty? Then you never see them again except to hear that you've mispriced your home and you have to reduce it...again. When an offer comes in they put their interests above your own. Often they do not encourage you to do the best that you can within your situation, because it's too much work for them.

Prominent real estate sales gurus advocate doing the least possible for clients in order to succeed in home sales. Bunk! I'm living proof that integrity pays, and excellence sells. Just call me at 562-947-8125 and ask me how I succeed in real estate. It won't be by shortchanging you on the service and attention that you deserve! Hard work yields results. [back to Who's Bob]

[Source: http://www.bobulrich.com/page1bob.htm ]

Personal

I have been involved with Marketing and Selling Real Estate for over 10 years. Each year has brought additional knowledge of the complexities of purchasing and selling real estate in South Pierce County. I have bought and sold several properties of my own, which enables me to personally identify with each Seller and Buyer.

Although I have received numerous awards from the Real Estate Industry, the best award I receive is the continuing friendship of my past clients. I am honored to be called a sincere, honest Real Estate Agent by both my peers and the customers I have served. It is exciting to be reunited with ERA Countryside, as the ONLY locally owned real estate compnay in the area. We can combine both the knowlege of the countryside with the incredible worldwide system that ERA offers. One call connects you to the world of Real Estate: call Kay @253-683-2007

[Source: http://www.eracountryside.com/kay.htm ]

To finish with some humour:

Selling your dwelling

Nothing is more traumatic than selling a home. Okay, that's not entirely true. Actually, nothing is more traumatic than falling down and breaking your legs while running from a rampaging mob of drunken psychopathic skinheads with chainsaws. But selling a home definitely ranks a close second. The following advice won't help you outrun those pesky psychopaths, but it will help you understand why so many home buyers often exclaim, "Why did we buy this stupid place?!"

The first step in selling your home is choosing a real estate agent who knows how to use creative marketing techniques to turn liabilities into assets. For example, if your house has serious structural flaws that are easily seen during daylight, a skilled agent will suggest that prospective buyers examine it at night, "when the soft, romantic glow of moonlight magically transforms this lovely rustic hideaway into a cozy love nest." (A skilled agent is necessary only when you're selling a home. When it's time to buy a home, use an honest agent. There's only one in North America, and he's very busy.)

If you must do repair work on your home before marketing it, there's only one word you need to know: Spackle. That's right, the popular plaster-like stuff you use to patch nail holes and small cracks can also hide larger problems. If you have a toilet that won't stop running, or a shower with really scummy tile, simply fill the entire bathroom with Spackle, sand lightly and paint the former doorway to match the adjacent wall. No more bathroom means no more leaky toilet, and no more leaky toilet could mean a lucrative sale.
After choosing an agent and making any necessary repairs, you must determine the value of your home by asking yourself these questions:

1. "Should the price be influenced by the federal penitentiary and the all-night "Booze, Blades & Bullets" store that border my property?"

2. "Am I obligated to tell prospective buyers about the nearby biological weapons laboratory?"

3. "Will I be able to conceal that mysterious raw-sewage smell that constantly permeates the kitchen?"

4. "If my agent holds an open house, will the old man across the street try to show visitors his cat's latest litter of three-eyed kittens?"

When you've truthfully answered those questions, completely forget about them and set your asking price at 5.5 million. This enormous mark-up is necessary because you'll be paying hefty commissions for the successful sale of your property, including 1% to the company representing you, 1% to the company representing the buyer, 3% to the guy who put the For Sale sign in your front yard and 72% to Bill Gates. Besides, the asking price (also known as the "fake" price) is always slightly higher than the final sale price ($59,522).

Before finalizing the deal, the buyer may hire a home inspector, who will try to derail the transaction by pointing out your home's many faults, even if such faults don't actually exist. Home inspectors happily fill their reports with sale-killing phrases like Evidence of satanic sacrifices in attic, Deadly chemical leak in basement and Rabid weasel infestation in pantry. These godless communists, hell-bent on preventing freedom-loving Americans from experiencing the joy of home ownership, faithfully abide by the Home Inspector's Poetic Pledge:

We'll check out your roof, your plumbing, your wire--
then scare you with words like "holes," "leaks," and "fire."
We'll talk about damage that's not even real--
and we'll continue to lie 'til we've ruined the deal.
And at the end of the day, we'll take pride in knowing --
that through these inspections, our butt cracks were showing.

Fortunately, like any other godless communist, a home inspector will gladly become a godless capitalist if the price is right. For only $50.00 from the seller, he will give the buyer a special "fake-out" inspection report, which states that the examined home could easily withstand a flood, a catastrophic earthquake, a tornado, and a direct nuclear strike--all at the same time!

The final phase of the transaction is called escrow (a French word that means "torturous waiting period"). Escrow lasts between thirty days and 12 years, depending on how long it takes the participants to "sign, initial and date" the 159,000 legal documents involved in the sale. You can survive the ordeal by frequently reciting the wise words of a 17th-century real estate agent, who once said, "The road to a successful sale is long and perilous, but the monetary rewards for your perseverance will be infinitesimal."

Mark doesn't really believe there's only one honest real estate agent in North America. In fact, he suspects there are at least a dozen. Angry home inspectors can reach him at [email protected]

[Source: http://www.winonapost.com/050802/postmark.html ]

How to spot a stupid or dishonest real estate agent
http://www.sourceonemagazine.com/0816a.htm
 
Truthfully Asy,

You're going to have to deal with crappy buyers. And crappy sellers. Business is business, and the one we all choose to deal with is one which both buyers and sellers lie.

Maybe sellers don't truly believe what the market is telling them, maybe they hope a blind buyer will be along any moment. More likely, their ego gets involved.

Ditto for the buyers. They did a course, their friend bought better/bigger/six months ago...

They over-price, we under-buy.

Jas (feeling cynical tonite)
 
Hi All,

Although I am only just starting with property investment, I find agents are generally pleasant to deal with. I believe agents who are happy to help are more of a general rule rather than exception.

From early this year, I have been trying to buy my first IP and almost every weekend since January, I been talking with lots of agents. They all seems to be helpful and I have no reason to believe they are lying. ( If fact, had I listen to them, I would have own 1 IP now and quite happy with it ).

Sadly, I haven't bought one, yet -- as it seems that I am always missing the boat ( but I am hanging on ). Or it could may well be that I am now a victim of "paralysis by analysis" as I have read from someone's post.

I believe the way we approach people is very important. Honest approach invites honest response.

Good night --- Jocker 10
 
I think one of the reasons a lot of mistrust exists on the part of buyers is because of the well known myth that sellers add 10% to the price they would otherwise be happy to sell for. They do this because they believe some negotiation on price is required to give the buyer the impression they got a good deal. Can anyone confirm that sellers overstate the price to leave some negotiation room?

I'm sure if this practice was stamped out there would be no reason to mistrust the seller or agent. Since, by law, the agent must substantiate their valuation to get the listing, why not produce those comparables for the buyers to see as well so that buyers will believe the price is realistic. Of course, a serious buyer may get their own independent valuations done if they still believe the price is overstated but they run the risk of wasting time and allowing another decisive buyer to purchase first.

Regards, Mike
 
Asy,

Surely you wouldn't think that intending buyers are going to just except the price that you put on a property!
You people deliberately(criminality) inflate the asking price by tens of thousands of dollars, so the MUG makes an offer of less than your price, but still over the real value. You accept his offer and everyone is happy. Isn't that how it works?
You always under cut the asking price. This is known to everybody. The question is by how much.

bbruham.
 
Alot of people are quick to critercise Real Estate agents and car sales people but unless you have delt with the general public in a sales enviroment ,l dont think your able to put a balanced point of veiw forward and may l also say,when you people start lying , we know and your only making yourselves look foolish. MITCH
 
bbruham,

I can't really agree with you on your post. Asy did state that she was happy for the buyers to try and buy under the market price as long as they were serious about what they were doing.
To say that they deliberately inflate the asking price is probably correct, I know if I was a vendor I would certainly be trying for the highest price possible for my house....wouldn't you????
To say that this is criminal is, I think, is very much out of line, isn't the "REAL VALUE" of a property what someone is willing to pay for it? You never know, my invalid mother (best mate, girlfriend, fav football player...whoever or whatever) might live across the road and the house is actually worth much more to me so I can be close to her (him, her, him or whoever) in her time of need and therefore I would be willing to pay a premium for the house.

I actually believe that the major problem (this is personal opinion) with real estate agents is lack of education. The shoddy REA's out there, and there are many, pass on their shoddyness to the young up and comers. As we get more agents out there like Asy this shoddiness will slowly dissappear as I am sure none of her sales staff use any shoddy tactics.
 
Suggo,

If you are "willing to pay a premium for the house", then I wouldn't call this figure the REAL VALUE; I would call it YOUR VALUE.

Not trying to split hairs here, but .....

KieranK
 
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