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?
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
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.
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.