Home Buying in Pomona>Question Details

tcefrep, Home Buyer in 91768

How an agent should act?

Asked by tcefrep, 91768 Mon Aug 26, 2013

It is normal for an agent to help you search for a home and never go out to see a home with you?

It is normal for an agent to just send you electronic signature paper work without calling or explaining the deal that you are signing up for?

It is my first time getting a home so I cannot compare a good agent from a bad agent. When I asked him if I need pre-approval loan, he said that I don't need to because I am getting a multi-units home; however, he had ran my credit check and looked at all my finance statement.

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Price History & Trends
Price History for 1150 W Fernleaf Ave
Alert
Date Event Price Source Agents
01/13/2014 Price Change
-$30K (-8.4%) $329,000 SOUTH POINTE PROPERTIES SOUTH POINTE PROPERTIES
01/03/2014 Price Change $359,000 SOUTH POINTE PROPERTIES SOUTH POINTE PROPERTIES
01/04/2010 Sold view detail $187,500 Public records Public records

Recording Date
01/04/2010
Contract Date
12/02/2009
Sale Price
$187,500
Price Type
Full amount computed from Transfer Tax or Excise Tax.
City Transfer Tax
$413
County Transfer Tax
$206
Transaction Type
Purchase/Resale Arm's Length Residential Transaction
Document Type
Grant Deed

12/03/1999 Sold view detail $90,000 Public records Public records


That house is worth maybe 220,000- anything else is pure bubble, guess what all your cool representatives are in for the bubble as it makes their commission larger.

Albeit, you won't sell it for more because you are not a corporate speculator. Nor is income and crime in that are covering it.

Pomona is low income- high crime.
0 votes Thank Flag Link Fri Jan 24, 2014
I think Realtors, are the same as any other professional person. You may need to find a "good fit" for you. If you are uncomfortable with the way your agent conducts business, you are free to interview others for the job of helping you find a property.
Everything should be clearly explained to you so that you are comfortable with the process.
Some Realtors do not work with buyers at all, so when you interview, make sure they do!
0 votes Thank Flag Link Wed Oct 23, 2013
This agent appears to be trying to rip you off. I would call the Board of Realtors.
0 votes Thank Flag Link Tue Aug 27, 2013
Yeah, I did that, same as medical board, they cover for one another.
Flag Fri Jan 24, 2014
If you don't understand the paperwork then don't sign it. If your agent doesn't understand the paperwork RUN! Ask questions and make sure your agent explains everything to you in detail so you understand it. Electronic signatures are OK but if you have questions then ask them. Your agent might not even know he is providing poor service and could be happy to help you out.


J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes Thank Flag Link Mon Aug 26, 2013
It's not so much "how an agent SHOULD act," tcefrep, but how an agent and their client agree to work together.

If you are wanting the agent to act differently, you can tell them. Surprisingly, we are often people, just like yourself, who make assumptions about what the other person wants without finding out if we're correct.

All the best,
0 votes Thank Flag Link Mon Aug 26, 2013
There are indeed agents who operate as you described. There are also buyers who would be happy with that arrangement. As a first time buyer, however, that is not appropriate.

The advice you were given about pre-approval is questionable. You clearly need a different type of agent, one who is more hands on. If you have not already signed a buyer's agency agreement with this person, then find yourself another agent - preferably one who works with first time buyers.

You deserve better! Good luck!
0 votes Thank Flag Link Mon Aug 26, 2013
No it isn't normal to search for a home with a buyer & "never" go see it with you.

No it isn't normal to send you paperwork for digital signatures & not tell you what it's for or explain it to you OR at least tell you that "Should you have any questions or concerns on any of this paperwork please don't hesitate to call me"

Any agent who says to you "Pre-approval is unnecessary is nuts or should not be in the real estate business. I wouldn't be sending you ANY properties to look at until I knew you were FULLY Pre-approved for financing.

In his limited defense, when it comes to multi family properties, many of these ARE "Drive By Only" where you can ONLY see the inside after writing an offer "Subject To Inspection". Oftentimes the tenants Do Not Know the units are for sale.

Please shoot me an email directly, if you'd like to discuss this further. I don't look back on this same Trulia thread for answers posted after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
0 votes Thank Flag Link Mon Aug 26, 2013
Does sound unusual to me but a first for everything I guess. Have always felt this is a people & face to face Business. Best of Luck
0 votes Thank Flag Link Mon Aug 26, 2013
Not at all;. I always meet with new customers in my office before going anywhere. This face to face time is crucial for you the customer and me to get to know each other and discuss the entire process. Always get pre approved before you do anything so you know exactly what a bank will lend you, then start looking at homes in your price range. Bottom line, if you aren't comfortable find another agent.

Chris
0 votes Thank Flag Link Mon Aug 26, 2013
That is not true. In this market you WANT to have be pre-approved.

I can certainly help you out with getting pre-approved. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes Thank Flag Link Mon Aug 26, 2013
It sounds as though you are purchasing what is considered to be a 'commercial' property. Does the property have more than 4 units? If so, then it is considered commercial property rather than a multi-family residential unit. Commercial real estate agents do operate a little differently than residential real estate agents. You will need to get a loan of some kind, I assume, to purchase this property, but the proof of that may not come in the form of a pre-approval. As for seeing the property, I would not recommend you purchase any property without having physically visited the property at least once. E signatures are becoming more and more common. My personal opinion is he should have called to see if you had questions and understood all the paperwork. And, if you DO have questions, by all means, call HIM.
0 votes Thank Flag Link Mon Aug 26, 2013
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