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re: Being Harassed by Real Estate Agents for Doing FSBO
Posted on 7/10/15 at 1:03 pm to theoldwiseone33
Posted on 7/10/15 at 1:03 pm to theoldwiseone33
quote:
13% of the agents sell 91% of homes. If you do end up having to list make sure you use a top agent.
Yeah, get an agent who is only interested in selling the house ASAP, no matter the cost
0
Posted on 7/10/15 at 5:19 pm to GFunk
GFUNK - based on your time as a LO and opinion that realtors are worthless, am I to assume you were farming 100% of client base? If so I know why you're not a LO anymore. I can't think of one LO who would deem me worthless on their yearly trips to Cancun and Hawaii.
To the rest of the circle jerk living below I-10 their entire life not everyone lives in a community where P-Nut works with little Randy at Dow and his cousin Ray Ray has his house for sale. It's a big world full of moving parts that sometimes require the assistance of a realtor.
I know realtor threads bring out the O-T in the best of us, but every commissioned based industry has pushy bottom feeders. I would suspect even the coveted O&G industry.
To the rest of the circle jerk living below I-10 their entire life not everyone lives in a community where P-Nut works with little Randy at Dow and his cousin Ray Ray has his house for sale. It's a big world full of moving parts that sometimes require the assistance of a realtor.
I know realtor threads bring out the O-T in the best of us, but every commissioned based industry has pushy bottom feeders. I would suspect even the coveted O&G industry.
Posted on 7/10/15 at 5:40 pm to WPBTiger
Never sold a house , only bought one. I'm glad I had a realtor to help me buy. Tons of crazy laws and paper work it seemed. Gone are the days of a hand shake.
Posted on 7/10/15 at 6:50 pm to WPBTiger
I wonder if you could to straight to the seller and make a deal. Both can agree can agree on listing price minus commission. Seller and buyer both wins. Would that be unethical?
Posted on 7/10/15 at 7:08 pm to ItNeverRains
quote:
ItNeverRains
Realtors are terrible. The internet is killing their business, thank god. 6% is highway robbery and the allowed conflicts of interests would make even the shady lawyers blush.
I am enjoying watching their profession diminish.
Posted on 7/10/15 at 7:18 pm to Stingray
Sold my last house FSBO in 3 months for asking price. No rush to sell and made appointments when people called about it. Just take the crap out of your house, CLEAN it, and be ready on short notice for people to come look at it. Realtors aren't magicians. Especially the jackwaggons that called wanting to list my house for 6% because it was so technical with contracts and all. 
You can find out comps just like they can. Go talk to your tax assessor. They work with sales all day long. Get some exposure and consider putting it on a FSBO website.
You can find out comps just like they can. Go talk to your tax assessor. They work with sales all day long. Get some exposure and consider putting it on a FSBO website.
Posted on 7/10/15 at 7:26 pm to Stingray
quote:
quote: ItNeverRains Realtors are terrible. The internet is killing their business, thank god. 6% is highway robbery and the allowed conflicts of interests would make even the shady lawyers blush. I am enjoying watching their profession diminish.
Stingray
Blanket statements are for idiots. The internet and HGTV are exploding my industry. I can't think of one realtor I respect who is losing business because of the internet. Quite the opposite.
If the real estate world you live in is either sell yourself or pay a 6% commission! see my earlier post.
Posted on 7/10/15 at 7:33 pm to ItNeverRains
quote:
To the rest of the circle jerk living below I-10 their entire life not everyone lives in a community where P-Nut works with little Randy at Dow and his cousin Ray Ray has his house for sale. It's a big world full of moving parts that sometimes require the assistance of a realtor.
Your stuff is generally on point, but this kind of high and mighty bullshite doesn't make your argument any stronger.
Posted on 7/10/15 at 10:43 pm to Janky
In my entire career in that biz, I never found a realtor I can consider someone who truly helped me in the process. The overwhelming, staggering majority blathered routinely about shite they had no real knowledge of, blamed everyone else when their own knowledge gaps were exposed when you proceeded to politely pull your own, the insurance agent, home inspector, RE appraiser and in many instances the homeowner's asses themselves out of the fire.
I have seen realtors recommend their own children not get home inspections when buying existing construction. I have seen them-in front of the buyer-say that they've never heard of a delay for Rural Development Underwriting once the package was cleared by the lender of choice. I have seen them ask and then turn around and complain about an appraiser not reflecting value of electronics and furniture that belonged to staging companies.
Realtors add precious little to a Real Estate transaction. With gbrar access-which the public has-and an experienced mortgage broker and a good RE Attorney you have the team you need.
Realtors are not worth 6% or even 3%.
I know some really nice guys-and friends-who are realtors. Some whom helped family that I recommended to family. But they "help" the woefully ignorant and more often than not take their money for way less than the work they get 3-6% for.
They've heard my opinion after a few beers and obviously my relative anonymity fuels my vitriol-along with the beers at times. But hassling someone for FSBO was the subject of this post and what I weighed in on.
I have seen realtors recommend their own children not get home inspections when buying existing construction. I have seen them-in front of the buyer-say that they've never heard of a delay for Rural Development Underwriting once the package was cleared by the lender of choice. I have seen them ask and then turn around and complain about an appraiser not reflecting value of electronics and furniture that belonged to staging companies.
Realtors add precious little to a Real Estate transaction. With gbrar access-which the public has-and an experienced mortgage broker and a good RE Attorney you have the team you need.
Realtors are not worth 6% or even 3%.
I know some really nice guys-and friends-who are realtors. Some whom helped family that I recommended to family. But they "help" the woefully ignorant and more often than not take their money for way less than the work they get 3-6% for.
They've heard my opinion after a few beers and obviously my relative anonymity fuels my vitriol-along with the beers at times. But hassling someone for FSBO was the subject of this post and what I weighed in on.
This post was edited on 7/10/15 at 10:53 pm
Posted on 7/11/15 at 7:15 am to WPBTiger
I sold my last house FSBO, not sure why more people don't do it. I had a realtor brought me a client, and I said 3% and sold it, they did all the paperwork. Easy way to sell a house.
Posted on 7/11/15 at 7:21 am to GFunk
Everything you have said about realtors is the same way I view many LOs. When I was selling, I can't tell you how many LOs would lie to my clients then we were left scrambling to find them a loan last minute because of the shady shite they would pull. I had one client sue the frick out of a LO over it and she had every right to. He got fired and the boss settled with her out of court.
All of it happened with no remorse by any of them and they would still have the nerve to ask for future business. It's why I quit dealing with these stand-alone mortgage companies and only dealt with a handful of people at actual banks.
All of it happened with no remorse by any of them and they would still have the nerve to ask for future business. It's why I quit dealing with these stand-alone mortgage companies and only dealt with a handful of people at actual banks.
Posted on 7/11/15 at 7:30 am to WPBTiger
Im a teacher so with all my extra time i flip at least one house a year. Sell all of them fsbo and have never been approached or called by realtor to let them list it. I do offer 3% to buyer agent though
Posted on 7/11/15 at 7:42 am to GFunk
GFUNK I'll retort and fade into sunset.
I agree that once the house is found the LO, RE Atty, & home inspector get the deal to close the majority of the time with no realtor assistance needed. The trials and tribulations getting the buyer to that point are so vast that it's a bit short sighted on your part in the grand scheme of things is being kind on my part to see no value in what I do IMO.
To assert realtors make mistakes, absolutely all the time. It's why we carry E&O and see lawsuits all the time. But to assert that inspectors or underwriters for lenders and real estate attorney's don't make mistakes is foolish. See my recent post history about a mess I had to pull my client out of involving my CPA writing a letter to satisfy the lender. An issue we were notified of the day before closing. Paying for a lock extension at no fault of your own or finding out you have an easement on a property you were told you didn't happen to buyers as well. Not often, but again the bad deals always bark the loudest.
Off the cuff I can think of 15-20 local submarkets (edited to clarify) where a LO and RE atty would either have virtually no chance of having an offer accepted, assuming they didn't simply grossly overpay. I'm assuming your hay day in the biz was pre 2008 pre Katrina when the greater Baton Rouge RE market was much less sophisticated. Assuming your area was more central to Denham Springs, I get where you're coming from. In that regard I fall back to big world with many moving parts in my initial post. Back to comps in the HGtV era I'll put my knowledge of construction, both new and flips, up against any LO and Re Atty in the free world.
The irony of the entire debate with you is where I typically save my buyers the most money is when they ask for my assistance in financing. I recommend they get preapproved by 2 lenders I have built tremendous relationships with and when it's time to lock, best money wins. One of you assholes will come off 1/8, and since the average loan package I do is jumbo $ 30 years fixed, saves my client a ton
You can have last word.
I agree that once the house is found the LO, RE Atty, & home inspector get the deal to close the majority of the time with no realtor assistance needed. The trials and tribulations getting the buyer to that point are so vast that it's a bit short sighted on your part in the grand scheme of things is being kind on my part to see no value in what I do IMO.
To assert realtors make mistakes, absolutely all the time. It's why we carry E&O and see lawsuits all the time. But to assert that inspectors or underwriters for lenders and real estate attorney's don't make mistakes is foolish. See my recent post history about a mess I had to pull my client out of involving my CPA writing a letter to satisfy the lender. An issue we were notified of the day before closing. Paying for a lock extension at no fault of your own or finding out you have an easement on a property you were told you didn't happen to buyers as well. Not often, but again the bad deals always bark the loudest.
Off the cuff I can think of 15-20 local submarkets (edited to clarify) where a LO and RE atty would either have virtually no chance of having an offer accepted, assuming they didn't simply grossly overpay. I'm assuming your hay day in the biz was pre 2008 pre Katrina when the greater Baton Rouge RE market was much less sophisticated. Assuming your area was more central to Denham Springs, I get where you're coming from. In that regard I fall back to big world with many moving parts in my initial post. Back to comps in the HGtV era I'll put my knowledge of construction, both new and flips, up against any LO and Re Atty in the free world.
The irony of the entire debate with you is where I typically save my buyers the most money is when they ask for my assistance in financing. I recommend they get preapproved by 2 lenders I have built tremendous relationships with and when it's time to lock, best money wins. One of you assholes will come off 1/8, and since the average loan package I do is jumbo $ 30 years fixed, saves my client a ton
You can have last word.
This post was edited on 7/11/15 at 10:31 am
Posted on 7/11/15 at 8:04 am to ItNeverRains
There is nothing wrong with agents trying to get a listing. It can be debated whether or not they are worth the money.
I have sold dozens of houses FSBO and only one with an agent. But, I've been in the business most of my life as an investor.
I bought a rental from a homeowner who bragged that she had sold her homes by herself. She way underpriced the one I purchased. I asked her how she arrived at the price. Her process left money on the table. She would have been way better off having an agent.
I can arrive at FMV (fair market value) quickly having done it thousands of time. But, I suspect many homeowners are just guessing.
There are good agents, horrible agents, and everything in between. That can be said for any profession.
I have sold dozens of houses FSBO and only one with an agent. But, I've been in the business most of my life as an investor.
I bought a rental from a homeowner who bragged that she had sold her homes by herself. She way underpriced the one I purchased. I asked her how she arrived at the price. Her process left money on the table. She would have been way better off having an agent.
I can arrive at FMV (fair market value) quickly having done it thousands of time. But, I suspect many homeowners are just guessing.
There are good agents, horrible agents, and everything in between. That can be said for any profession.
Posted on 7/11/15 at 8:55 am to ItzMe1972
quote:
There is nothing wrong with agents trying to get a listing. It can be debated whether or not they are worth the mon
In my market all a FSBO has to do is put "no agent solicitation" in their marketing and anyone caught doing so can be reported to the association and subject to reprimand.
My opinion on any contract between two parties in a free market economy is if two parties of sound mind enter into a contract by free will then everyone else's opinion of the terms is irrelevant. This includes all other industries outside RE.
Posted on 7/11/15 at 1:27 pm to stout
quote:
Everything you have said about realtors is the same way I view many LOs. When I was selling, I can't tell you how many LOs would lie to my clients then we were left scrambling to find them a loan last minute because of the shady shite they would pull. I had one client sue the frick out of a LO over it and she had every right to. He got fired and the boss settled with her out of court.
Saw this go down with my brother. Standalone mortgage company guy just kept saying it was being done/processed, kept stringing along on and on until closing is coming and "Ya, it's not going to happen." Brother was able to get an extension on the deal so he could go find another lender.
I've not had that problem, but couldn't really believe what the fricking motive could be to not just come out and say you're not going to make the deal? Obviously, if you think you may get it together in time I can see someone doing that even if its risky, but it was pretty clear this guy wasn't going to come through weeks earlier (once he admitted it).
This post was edited on 7/11/15 at 1:29 pm
Posted on 7/11/15 at 3:35 pm to ItNeverRains
quote:
ItNeverRains
quote:
I'm assuming your hay day in the biz was pre 2008 pre Katrina when the greater Baton Rouge RE market was much less sophisticated. Assuming your area was more central to Denham Springs, I get where you're coming from.
Glad you feel you understand where I'm coming from. I did RE finance in MO, KS, LA, MS, AR, TN, KY & FL off the top of my head. May have been a few other states (OK is one I'm wracking my brain about but I honesty can't remember). The majority of my work was South Louisiana and my career stretched pre to post Katrina in those states and capacities. Purchase $, Refi's, etc.
I'd say I did okay with moving parts for a guy you assume worked markets without a lot of sophistication. Who knows, maybe Shelby County, TN, Tampa/St Pete/Hillsborough County FL, Orlando, NOLA, BR, and places like NW Arkansas all had that same lack of sophistication in common. Based on your assumption of me, that'd have to be right. Right?
Look, are there knowledgeable, great realtors that add value in exchange for their remuneration? Absolutely. I thought I said as much. Could be wrong. You tell me.
But as to whether there are bad brokers...have I ever indicated that was an impossibility? Would you expect me to disagree with you? I think most of my advice to folks here has generally been that they should look to work with multiple brokers initially to get a feel for them and then work from there through this process.
Realtors are useless-USELESS-until a potential buyer has his prequal letter in hand and understands how much home he can afford. Which is something a realtor can speculate on but a lender can only confirm. This is part of what irks me in that most potential buyers arrive at a lender with a ton of misinformation-to be polite-after already getting involved with a realtor.
Again, my thoughts and opinions are my own. Unsophisticated and unworldly and lacking in depth and breadth though they may be assumed to be by folks who read them.
I know you offered me the last word and I appreciate that. Sorry I couldn't restrict myself to just one.
Posted on 7/11/15 at 4:06 pm to GFunk
You just did a lot of crawfishing with that post.
Posted on 7/11/15 at 4:32 pm to GFunk
When you have very low intelligence, suck at real sales, and love projecting wealth you become a realtor.
Posted on 7/11/15 at 5:13 pm to stout
quote:
stout
quote:
You just did a lot of crawfishing with that post.
By saying decent realtors exist and not denying that bad brokers do? If you say so, then okay.
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