This is not a post about the values of homes in Brentwood or Oakley. It's not about property in Alamo receiving 14 offers, ultimately selling to a cash buyer well above an already optimistic list price. It's about the behavior of a few, several, ..OK way too many agents' unprofessional and unethical behavior. It's just ugly. At this point in my real estate career I've been around the block a few times and I understand that we're going to see this behavior, however, we don't need to sit back and take it.
If you're a Realtor, like me, who works very hard for your clients; who actually reads and follows the details on a listing; who spends 80% of your week doing 80% of the 'other sides' work so that your client doesn't suffer...let your broker or your board know!
Today alone...
Today I read a Facebook posting from a fellow agent about another agent who told this colleague's buyers to "Go eat S##t". He then went on to double end the deal (a practice that I still don't condone). Not four minutes after I saw this I received a call from one of my clients who said, "I have removed my door knob and pulled the lock-box inside." "What happened?" I asked. He went on to explain how over the weekend, and into Monday, agents had harassed the couple; had rudely pushed for appointments to suit their own schedules then didn't show up at all; who never schedule an appointment to view and showed up at 6pm, 8pm, 9pm with their own clients in the car, complaining about how hard it is to show property. Another agent remarked that the sellers had no right to prevent a showing regardless of the time because it was a short-sale. Several agents simply showed up, walking in on the family dog who was recovering from surgery. The list of offences seems to be endless! This is just ONE of my clients. This was less just three days.
Friday I was told by one of my new sellers that his previous agent put a sign up in front of the wrong house. This house happened to be owned by the seller, and had a renter in it whom immediately stopped paying rent out of fear that the home they were living in was going to be sold without any notification.
This may sound like a rant, and trust me...and I could go on, but it's no rant. It's really, truly, proactively, a call to action. When my wife recently went to IKEA to return an item and was 43rd in line, and that seemed OK to everyone...I realized that America seems to have rolled over. It's every day; service people not showing up on time; clerks text messaging their friends and appearing bothered to have to ring you up; restaurants serving you the wrong food or serving it other than the way it was ordered, etc. Sure these are irritations. But for most of us, buying and selling real estate is a massive, stressful, and highly impactful decision. Please don't settle. Don't roll over. If you're uncomfortable, voice your concern. Remember, we work for you! If you're not getting the service you deserve in this arena, fire your Realtor.
Home Buyers:
Right now we are in a very, very competitive market. You're going to have to jump fast. You're going to have to put your best foot, your best offer forward immediately. BUT...don't rush beyond the offer. Don't let your agent or the seller's agent force you into a position that you aren't comfortable with. Don't put yourself at risk because someone else is choosing not to do an inspection or has no contingencies at all. These inspection periods, the disclosure statements, the preliminary title and natural hazard reports, etc. are put in place to protect you. Don't be hasty. Yes, you absolutely better bring your "A" game at the time of offer, but don't write an offer that leaves you exposed to risk, unless you can truly afford that risk.
- Make sure that you're truly in a position to buy and have the following items ready:
- Earnest Money Deposit
- Pre-Approval from a lender you have faith in
- Funds for inspections; typically Pest, Home, Roof, Pool, Well, etc.
- Funds to close (closing costs, remainder of downpayment, etc.)
- Funds after close to ensure that the property is the way you intend it to be when you move in (or shortly there after)
- A Realtor your trust
- Make sure that your list of needs and your list of wants are clearly established. They are different.
- Make sure that you stay on budget.
- Make sure if you are submitting an offer on more than one property that you disclose that to the sellers.
- Make sure to check any special assessments/melo roos, etc. as they can drastically change your PITI (Principle, Interest, Taxes, and Insurance).
You truly are in the driver's seat today. But with that in mind, be realistic. Don't puff out your chest and scare away that ideal buyer! You may receive multiple offers; some may be well above your asking price. But will the property appraise at a price that high? If it won't, did you just pass on a buyer who could actually get the deal closed because you were playing 'hardball'?
- Have a plan and stick to it.
- Determine the terms that you'll accept (Cash/Conventional/FHA/VA) and why.
- List your property on the high end of comps as values continue to climb in most areas.
- Review offers only after at least one full weekend has passed, but disclose this to all prospective buyers. Most offers stipulate that the prospective buyer needs a response within 72 hours, but that can be addressed.
- Counter all offers as you don't know what a particular buyer's motivation is: don't tell them "no" by not countering...give all of your prospects a opportunity to respond.
- Know in advance when you'll do a price reduction, and by how much.
- Ask your prospective buyers if they've written offers on multiple properties.
- Understand that your first offer may be your best even if you received it the 1st day. Stalling or sand-bagging to wait for a better offer might cost you the one you've got in hand.
Fellow agents:
I know you're busy...so I'll keep this part short. If you're not reading the confidential remarks, then you're calling me to do it for you...you're being a complete tool! Contrary to what you may think, you're time is NOT more valuable than mine. You do your job and I'll do mine and our clients will be happy. If you are one of the many, many agent that love your job and love the smile on your clients faces when you close...and really do sleep well when your head hits the pillow, please remember that we have to police ourselves. Nobody else is going to do it. Call an agent; call a broker; call a local board of Realtors if you have to. Don't just roll over (finger pointing at myself right now!) In time the lazy and unethical will realize that being a Realtor is hard work, then they can run off to try their hand at some get-rich-quick scheme and leave us to best serve our clients.
Then of course...I could be wrong.
I'll leave you with this Taste of Wisdom,
"
Coming together is a beginning; keeping together is progress; working together is success."
~ Henry Ford
Until next time, and thank you in advance for remembering me when the topic of real estate arises.
Email me at andy.blasquez@gmail.com
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Finally, please comment or ask questions. Other readers may be wondering the same thing. I love the feedback, critical or otherwise, and love the interaction: I love this job.
Click here to reach Macky Hensel.
Please Follow me on Twitter and Re-Tweet these blogs.
Please Add me as a friend on Facebook
Finally, please comment or ask questions. Other readers may be wondering the same thing. I love the feedback, critical or otherwise, and love the interaction: I love this job.
Thank you always for your support.
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