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Real Estate Agent..venting

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Real Estate Agent..venting

I know that you all say that real estate agents should have your best interest in mind and not be only working for commission. I have an agent and she seems lazy. First of all i would like to say that i am OFFICIALLY UNDER CONTRACT!

 

1. Are good real estate agents supposed to do MAJORITY of the work. I have heard of some going as far as going above and beyond, deliviering earnest money and option money checks so the buyer can have a smooth ride during the process. 

 

2. If you are working with an agent, is there a form that should be signed to disclose that i can change agents any time i want before anything  goes under contract. Per say even if a few offers has been put in on properties is the buyer allowed to opt out at any point that the real estate agent isnt doing there job?

3. How can you tell if the agent has your best interest at heart?

 

My situation:

I have a realtor i am working with she is an in law of mine. She hasnt been available to me for the most part and she doesnt seem as bright or knowledgable on some things. This process can be tedious i understand. I chose her as my agent, i start looking for houses and she sends me a profile of houses. We view a few houses and put in a couple offers on homes that she found and one that i found. Houses seem to be going quick and as we are still searching for other houses we call a few to request showings and they all have already accepted offers but just hadnt update the page. Anywho, some days she has no time to schedule viewings (most days) she says she is swamped with contracts and schedules for later in the week, by that time houses are already under contract thats how quick they are going. I mention to her that i am going to use another agent that may have more time. She says you cant do that that is not how it works. Anywho, she calls to tell me that an offer was accepted on a house. (YAY) i begin to get my hope back. I proceed to ask her if i am clear to put my notice in for my apartment complex we have to give two months notice. She put the closing date for MAY 31st. I also ask my lender if everything is a go. She says my stuff is in processing and its 99% sure it will go smoothly. She mentions the only thing that would mess me up is if the appraisal comes back lower than the asking price. The home was listed for 155k and i put in an offer for 160 k and asked for 4000 contributions. COOL? Right? So i then text my realtor and said you were sure to do a CMA before you out in the offer right? She says yes she did and she will send me the CMA. I see the CMA and its obvious that she just did it a few moments before, she says it says i should offer up to 155k. Now here i am flipping my **bleep** because earnest money has been turned in and at this point the inspection has been done. I am panicking because im afraid it will appraise for less than i offered when the asking price in general per the seller was 155k. This seems unprofessional and lazy on her end. She should know this step is IMPORTANT. Now, i have to try to stay calm. I met the owner today during the inspectioni spoke with him and had a great conversation regarding the house and their plans when they move. At this point i am worried sick and unsure as to what i should feel. No reassurance would be enough at this point. I feel like i did all the work! I had got to the point where i was calling to schedule my own showings on houses. I mention that to her and she says she feels as though i am discrediting her. After this process i am almost 90% sure i can become a real estate agent. LOL

Message 1 of 5
4 REPLIES 4
Valued Contributor

Re: Real Estate Agent..venting

Unfortunately there are good and bad real estate agents. Sounds kind of like because you are "family" she didn't work very hard since you "wouldn't" fire family.
1. A good real estate agent does do most of the work (at least in my experience). For example, I never had to do anything with the earnest money check other than hand it to my agent.
2. When and if you can change agents depends on when you sign a contract with the agent and what the contract says.
3. You can tell if an agent has your best interest by the effort they make for you.

When I was looking for my first house I did not know anyone who could recommend a good agent so I randomly contacted a few from zillow. The first one I "worked" with was similar to what you experienced, I found places I wanted to see and had to bug her to arrange showings. After I found a place I really liked, I asked her to put in an offer. After waiting 2 days she contacted me to say that the house was sold at auction the day BEFORE we went to see it. I contacted a different agent because that ticked me off. The second agent was wonderful, she knew that it was a hot market, she provided me with listings that met my criteria and once I found a house I like she put in an offer before we left the property.
As far as the appraisal goes, check your contract, standard ones have a clause for appraisals where you can cancel the contract (and get your money back) if it doesn't appraise (most of the time the seller is willing to lower the price if it doesn't appraise but in really hot markets that is not the case).
Sorry your agent turned out to be a dud
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Message 2 of 5
Established Contributor

Re: Real Estate Agent..venting

Ah yes, the pros and cons of working with family......

 

nonetheless, congratulations on your contract offer being accepted.   

 

Now, during the due diligence period you are able to inspect and appraise the property and possibly even renegotiate the contract as long as you have reasonable and justified 'conditions' and/or requests.

 

Somewhere on this page there is a thread on "low appraisals"---check it out for advice and guidance in order to see if it's warranted to 'overpay' for this house should your appraisal come in low.   Also, have your home inspectors' property deficiencies quantified (cost-wise) by a reputable contractor so you can be WELL PREPARED to renegotiate the terms of your contract prior to your due diligence period.

 

PS---I despise the excuse from agents who claim "sorry, we're just SO busy with other deals....." because they are simply saying that your business isn't important enough for me to give you 110% effort each and every single day.

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 3 of 5
Contributor

Re: Real Estate Agent..venting

Our real estate agent is Not family & ours is hands down worse than yours.
Ours has managed to lose almost every paper, she doesn’t know how to use the computer, she spent the entire day w me.. long story writing up the offer, then spent another half of a day trying to submit it and then the other half allowing us to accept the counter offer. Oh did I forget about the part where she almost killed us when she decided to go on a solid red lights w other cars turning? How about her arguing w me about where i live when she was taking me home? She literally has made our process completely hell. We are under contract now and hope to god we dont keep hearing from her. (We only have to have hubby resign papers she missed or lost!.)
Message 4 of 5
Regular Contributor

Re: Real Estate Agent..venting


@Newbie2018 wrote:

i am almost 90% sure i can become a real estate agent.


Depending on your state, it only takes a few hundred bucks for the on-line courses, and time. I became a licensed agent in my state, because I too was frustrated with the way other agents handled my transactions.

 

Did you sign an exclusive buyer's agreement with your in-law?

 

If you're in a hot market, its very likely the property will appraise at $160k.

Aug 2019: EQ 713, EX 698, TU 708 (Mar 2017: 550's)

AAoA: 8.6 years, Gardening Goal: Spring 2020
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