Posted by wpage on February 05, 2002 at 15:52:56:
Tiffany I doubt that you will get this one the way you are talking about what your agent is doing! If she hasn’t called you back in 4 days I would bet there is something in the works. However, I would like to tell you that all agents are not the same. I am an agent who does investing but I will never go around a client to profit from a situation. I often complete deals with clients where I could have made some money. But what comes around goes around.The client that you respect will make you more money than the one you defeat.This might be a good lesson for you. Never talk too much in your excitement when a deal is in the making. please post your results. good luck
The hated real estate agent - Posted by Tiffany (Baltimore)
Posted by Tiffany (Baltimore) on February 05, 2002 at 15:43:03:
Hate is such a very strong word. But I’m interested in the Baltimore City Area. I’ve been doing some research and discovered there is a significant amount of development going on with a city section of Baltimore. A very nice and talkative woman agent showed me several houses. Then proceeded to show me one which had better potential for less investment. (My dream is to rehab and do section 8 and possibly refinance to go forward with more properties).
To make a long story short, I came home telling her of my new found discovery i.e., Habitat for humanity bought two houses on the block, next door to the property that I was interested in. This would leave the whole block fully occupied. Habitat will sell the houses for approx 30K. She was surprised and congratulated me on my homework. She told me that she had to get a release over to the previous interested buyer who hadn’t contacted her. She stated that he let the contract expire. I reiterated to her that I was extremely interested and would sign the contract and would get the house inspected pronto. 4 days later she has yet to return my phone calls. She did decide to return an email yesterday saying she was working quickly on a resolution. I realize that these bank rehab things are so political meaning, the agents look out for their own.
My question: How do I build a relationship with an agent who will look out for me. My imagination tells me that either she told the investor of my discovery to move him along to close or she saved the property for a friend? Is there a way to go around an agent i.e., doing a tax assessment and praying that I find an owner or (bank even better) willing to sell without dealing with a realtor? I am also taking the real estate’s course and as an agent I’d love to help other women and minorities secure great bank owned deals. But I’d like to be the agent who is upfront and RESPONSIVE. And take a kinship to a fellow woman. But money is green and gender isn’t. (A woman can dream can’t she?)
Re: The hated real estate agent - Posted by dewCO
Posted by dewCO on February 06, 2002 at 11:44:53:
You can get your own buyer’s agent. They SHOULD watch out for you, however, as I always say there are agents and there are agents (just like any other profession!). Adding another agent (commission) to the mix may make it harder to get your price though, or leave enough in the deal for you. Just be aware of that.
Re: The hated real estate agent - Posted by Al - So Cal
Posted by Al - So Cal on February 05, 2002 at 18:01:11:
ACCEPT REALITY-NOT WHAT YOU
D LIKE IT TO BE! Ive made lots of money from commissioned sales people
and most are good agents and brokers but I could write
a book about so many times when myself or the seller
have been taken.
You develop ways around this.
Re: The hated real estate agent - Posted by SCook85
Posted by SCook85 on February 05, 2002 at 17:31:35:
In all honesty, things don’t necessarily turn around as quickly as you would like for them to. It is common for it take take days or even weeks for an agent to be able to get a release signed by a buyer and seller. Especially when dealing with banks. They move in slow motion.
I wouldn’t be concerned at all about the realtor trying to go around you. I can assure you that in Pigtown (I’m assuming that is the part of Baltimore you are referring to since that is where they are working), everyone knows what is going on with Habitat for Humanity. The person buying the home knew and the realtor if they had a home listed there knew.
In any event things do move slower then you may like in these situations. The realtor can not take another contract from you until they have a release from the previous buyer. As long as the previous buyer has a contract that is unreleased they have a right to buy the home. Perhaps you should get your offer in as a “backup” to the other one, so when it gets kicked out then you will be there.