Udo, Home Buyer in La Quinta, CA

What do you think? Let my current agent work on the last 2 homes while I work with a new agent?

Asked by Udo, La Quinta, CA Wed Jul 24, 2013

I have been working with my current agent team for 9 months now, and I had an offer accepted about 34 days ago on a fixer upper 6 bedroom house. The thing is we had our contract expire last Friday and we didn't get our loan docs until late Monday. There were two leanholders on the property and the 2nd leanholder has told us all along that he would not grant an extension as he seems to think the house is worth $20k more than our offer despite the appraisal coming in at just $2over. True to his word, he foreclosed on the house Monday and bought the house out from the 1st leinholder.

So, I partly blame my current agents for this as I asked for a 45 day close as this is a 203k loan, they insisted I go with a 30 day clse. And there is the fact hat they didnt even call me when my offer and had ben accepted, my loan officer called me and told me I had an offer accepted 2 days ago and we Should get started asap. They also never answer answer their phones or call back.

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Answers

7
Dear Udo,
Be upfront and honest with your agent(s). In most cases, there is a lot of behind the scenes work you don't see your real estate agent doing. It sounds like you have had a tough time getting through the process. In this market with multiple offers, and bidding wars you are very fortunate to have an accepted offer on a property. If you have an accepted offer your agent is doing the right thing. Communicate with them and your loan officer. Don't give up, especially if you are in escrow.
Best Regards,
Kim
1 vote Thank Flag Link Sun Jul 28, 2013
Udo,

You have been working with this agent for 9 months. How responsive were they initially?

Sometimes as REALTORS we do our best but we have clients who have unrealistic expectations. Before you change agents at this point evaluate what they done for you in the past 9 months. Have you made offers and then changed your mind? Do you tend to want to offer lower than asking? Are you looking for a "deal"? What is your part? An agent can do so much but a buyer with unrealistic expectations will never be happy. Nine months is a lot of vested time and energy on both parts.

Now, if you didn't research agents ahead of time and your agent has been slow to respond or they haven't guided you in making a strong offer, and the communication has been weak from day 1.____ Then YES- Find an agent who will be there for you and guide you and tell you what the process is and what might happen and why things happen. The market has changed and is changing since 9 months ago.

I personally have deals fall out for reasons I have no control over but I never have lost a Buyer or Seller yet because of it. The main reason I believe is because we always have clear communication.

Whatever you choose I hope you find the right place to call HOME.

Have a great day.

Cheryl Friedman


I am not a local agent however feel free to email or call me if you have any questions and you want an unbiased answer...somewhat unbiased I am still an REALTOR after all :)
0 votes Thank Flag Link Wed Jul 24, 2013
The inability to answer my phone calls or even call me when my offer(if my loan officer hadn't told me my offer had been accepted 2 days before, I don't know how much longer I would have waited to find out), factored into my decision to seek out a new realtor. If I am expecting too much or being unfair, so be it. I might be wrong but I am willing to bet if I can find a good, ambitious realtor, it will eliminate most of the problems I believe I am having with this one
0 votes Thank Flag Link Wed Jul 24, 2013
This is sounding rather confusing. What I do know is there is a tendency to blame agents when a deal doesn't go the way a buyer wants. This is unfair. The lienholder is the reason things didn't go your way..
0 votes Thank Flag Link Wed Jul 24, 2013
I am only hearing your side of the story.

I would first have a face to face meeting with your current agents and explain your concerns, expectations, and listen to their response. If you or the agent are not on the same page, it would be advisable to explain to them your plan to work with them on the current properties, but on future homes you intend to use another agent.
Web Reference: http://www.TerriVellios.com
0 votes Thank Flag Link Wed Jul 24, 2013
I forgot to add we have no current agent contract between us
0 votes Thank Flag Link Wed Jul 24, 2013
2nd part..

So my agents are still working with the 2nd leinholder now they have the loan docs in hand, all they have to do is have the bank modify the contract. They also have a short sale house they say is my "backup" and I know they will be motivated for this as they are double agents in the deal. So I'd like to keep them working on these 2 homes but I'd also want to start looking at other homes with a more professional agent. We qualify for more than twice the amount of the homes we are bidding on and have excellent credit, so I don't think its too much to ask to get better communication. What do you think?
0 votes Thank Flag Link Wed Jul 24, 2013
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