Re: realtor horror stories - Posted by eric-fl
Posted by eric-fl on August 19, 2001 at 03:41:58:
I have to say, I disagree that this is a good idea for a thread. Although I am a Realtor, few people are more outspoken against the entire trade monopoly that the Realtors hold. I have always maintained that they make Microsoft look like Ben & Jerry’s, by comparison, (in terms of antitrust violations.) However, the solution is not to sit around and bash Realtors, there’s been a lot of sentiment like that around here lately. I think it’s mostly because there’s been an increased level of activity in general. I think a more productive thread might be on hints and tips for both a) educating Realtors as to a better understanding of what we do, and b) finding those who are more progressive in terms of understanding creative real estate investing. (Here’s a hint - for starters, I wouldn’t use the words “creative” or “investor” around most agents these days.)
The fact of the matter is, ANY profession has it’s good ones, and it’s bad ones. I cannot think of ANY trade, or business type I have had to frequent, where I cannot think of an example of good ones, and bad ones. For instance, I have pretty strong opinions on which electricians to use in my town, and which ones not to, and those are based on personal experiences.
Ultimately, if someone has a bad experience with a Realtor, and there are many who do outside of just the investment arena, they should be looking for solutions to the problem, not complaining about it. If you have a complaint with a Realtor, there are plenty of avenues for that - starting with the local board. Of course, those are for real complaints, such as ethics violations, or culpable negligence. If you don’t like the way they do business, I imagine your local board would have the same advice most people would have - “find another one.” We should also not forget that agents get paid on commission only, to represent an interest. If that interest is not yours, don’t be mad if they don’t help out. I remember in particular a poster who submitted a few weeks back about a “stupid realtor” who wouldn’t take their client’s house off the market for 30 days while he tried to flip it for a mere $1.00 earnest money deposit. I hate to seem “uncreative”, but it sounds like that agent did her job, to me.
Finally, and ultimately, let’s not forget - AGENTS ARE NOT ATTORNEYS. They are also not title agents, or insurance agents, or accountants, or tax planners. You should never, ever, take this sort of advice from an agent. Agents take around 70 hours of classroom instruction, and then pass a test. It literally takes longer, much longer, to become a barber than it does to be an agent. Never rely on an agent for legal or financial advice. After all, they are not qualified to give it, so why ask for it? Have YOUR attorney review contracts, not agents. (I know that one from personal experience as well.)