Real estate:Are most of them like this? Anyone else had an experience like this?

Question

I lost purchase deal on a house because of a poorly written contract that forced me to put down an additional $500 when I removed the contingency to buy. I had already paid a deposit on the house and inspections and financing fees were already in the thousands. I really did not have the extra money though my realtor thought I did since she recommended a different bank than the one that pre-qualified me and they had my bank statements but not everything had cleared. When the purchase deal fell through, she would not help me find another home so I could complete the sale unless I agreed to another contract stating I would put down the additional $500. She wanted me to agree to sell regardless of where I ended up and accused me of being defficient in faith when I wouldn't. I ended up losing the sale contract as well because the people needed to move quickly and I could not sell to live under a bridge. I asked to be released from my listing contract with them and they did release me but I was treated like I was s---t and the lawyer she recommended quit. I found a new agent and he does volunter work for the police, but he took me to see a house and let me put in an offer on a house in a neighborhood that has a drug problem and I caught a deal in progress when I went there at night to look at the house. I was able to withdraw the offer because of the stage it was at, but the realtor for the seller e-mailed me saying the neighborhood was statistically safe(like that will matter any if my son gets caught into drugs) and that he would be touching base with my agent. All I want is a nice house in a safe, drug free neighborhood that I can afford. Doesn't sound like it should be too hard in a so called buyer's market. Are most real estate agents like this out to make a buck and to Hades with what happens to their clients? Anyone else had an experience like this?

Answer 1

Wow. Sounds like you've been given the runaround by some pretty tough agents. Next time, if you're willing to try again, select an agent who is acting as a buyer's agent. A typical listing agent represents the seller, not the purchaser. They'll move mountains to see that the deal goes the seller's way.

A buyer's agent will represent you rather than the seller. He or she can't do that if the house is their own listing, but otherwise they'll have your best interest at heart. After all, that's the way the commission is paid.

Remember, the only way these people make money to feed their families is by selling that property. Most are not unscrupulous, just hard-nosed.

Before you offer anything again, be sure to check out the neighborhood during the weekend and at night. That's the time when people are home and activities are normal. During the weekday is the worst time to view a property.

Also, don't ever ever ever buy anything without having it inspected by a professional home inspection service. Then ask someone you trust, such as a relative or close friend, to view the property with you.

There are hundreds of listings right now. Go slowly and get advice from the experts.  

Answer 2

Sorry to hear about your ordeals.  And it doesn't sound like the Realtors and everyone involved were out for your best interest like they should be.  

    One think I tell my clients is interview with several agents not just me and if they still feel comfortable with me then I will help them.  I also let them know that if any time they are not satisfied with my services just let me know and we will tear up the buyers representation agreement if we have one.  I have had 8 clients sold 8 houses and have yet to sign a buyers rep agreement because I feel that the services i provide for my client are unbeatable.  Maybe at one day or point I will have a client that for whatever reason doesn't feel comfortable with my services, at that time as long as he tells me so that I can learn from my mistakes it will benefit everyone.  

   When making the most important or one of the most important choices of your life you should definately interview several agents and feel comfortable with your choice.  And dont be afraid to ask questions like whats your commission, what hours can you be reached etc....

Good Luck

Adan Aguillon

www.harvestrealestatesanantonio.com

www.famonline.org