Is it just a lack of experience and not wishing to appear as though they don't know what to do? Or, does this business attract dishonest people?
Let me explain...Through the process of buying and selling a home nearly every question I asked my agent I received both a wrong answer and a corrected one later. The wrong answers have cost me thousands of dollars.
When I tried to explain this to my agent and discussed that I was looking at hiring a different agent, I was threatened with a lawsuit.
With a previous home purchase, I used a different agent. That agent was great until it came down to closing. Questions I asked were referred to her "assistant" which usually came with an answer of "I don't know. I'll get back to you." and the assistant never got back to me. Papers were delivered late, incomplete and with no explanation or assistance in helping me complete the documents. We were lucky to close at all on that house.
So why do so many agents act in this manner?
Hi SJSeller,
There's an old saying that 98% of lawyers give the other 2% a bad name. The reputation of realtors isn't much better and your experience reinforces this perception. This is really unfortunate, as I have found that there are plenty of ethical, hardworking, competent Realtors around. After 25 years in another career, I began in real estate a few years ago with some concern about the colleagues that I would be associating with, for the same reasons you stated. I must say that I was pleasantly surprised with the high level professionalism and integrity of the agents in my office, which included a wide range of newcomers and seasoned agents. Outside of my company, I've found some agents as you describe, but again I have dealt with many competitors with whom I've developed a mutual respect. Over the past few years much was said about the housing bubble, but the bigger problem was that the boom years resulted in an agent bubble. Many agents got into the business for the "easy money" and really weren't qualified for the attention to detail, communication, and follow-up work required to make a transaction run smoothly and close on time. Real estate is a very hard job in the best of times, and now that the market is struggling, lazy and incompetent agents can't survive, so you should have better luck dealing with those of us that are willing and able to provide excellent service in both good and bad times.
It sounds like this bad experience is behind you, so I assume you are wondering how you can avoid this next time, or perhaps you are hoping that this can be a warning for others.
First and foremost when hiring an agent, or anyone else for that matter, trust your instincts. If you are not already a good judge of character, then work on it. It's good to get referrals from friends, but then you also have to judge their character, as well as their motivation for the referral. If it's their cousin or their hairdresser's boyfriend, you might want to look further. It's also good to ask the agent for referrals from past customers.
Secondly, no matter how good the promises sound, get them in writing. Ask "What are you going to do for me?", get a written commitment and hold them accountable to perform. For instance, I, and many agents in my office, subscribe to a program called Quality Service Certified (QSC) which provides a written guarantee for either home buyers or home sellers.
Finally, make an assessment of the type of brokerage he/she represents. Is it independent, a small office of a huge franchise, or a large brokerage with multiple offices? Who does the agent answer to? If it's an independent, it may be themself. If it's a large company, you should be able to contact the managing broker in his/her office, and if necessary, their regional manager. A reputable company will not allow an individual agent to hurt the reputation of the company.
In closing, congratulations on closing on your new home. I hope it provides you many years of comfort and enjoyment and the memory of this bad experience fades away. If I can help you or anyone you know, please feel free to contact me.
Take care,
Roland
My current realtor has GRI after his name (he's the one that threatened to sue). He came recommended by a friend. We interviewed three other realtors this time. Only one of those three seemed competent. They were a mix of large and small brokerages.
Our previous home purchase we fired our first agent because he never listened to the criteria we had in our new home. He only looked at bedrooms, baths and price.
The agent we finally used was a referral from a co-worker. She found us the house, but then didn't seem to care what happened during escrow.
So, that's a total of six agents we interviewed. Only one (that we never used) would we consider talking to again. She came with no referrals, but was suggested when a co-worker that we originally spoke to was not available.
Hi SanJoseSeller, I hate hearing stories like those that you have shared above. I would seriously suggest you file a complaint with the Department of Real Estate if you feel the agent acted inappropriately or violated a fiduciary duty: http://www.dre.ca.gov/cons_complaint.html
While you have had some bad experiences please understand that most agents are sincere and committed professionals. That said, there are many real estate "service models" along the mix of focus between company transaction efficiency and personal service level. It sounds like you may have been stuck in a "transaction-focused" mentality rather than a "service-focused" model. You may have also fallen victim to the "newbie" effect of those lured by "easy money" during the Real Estate run-up we had.
The next time you are ready to buy/sell interview more than one Realtor to see if there's a personal fit. Then, review the Realtor's client testimonials and pick some to speak directly with (don't be steered by the agent, choose from their list on their website). Ask these past clients what they liked about working with the individual, but more importantly; ask what they didn't like about the experience, or what went wrong, if anything. That is how you will get the best information.
Also, use this site to look up the person's license to see if they have any violations:
http://www2.dre.ca.gov/PublicASP/pplinfo.asp
Here's another tip: Make sure you are working with a licensed REALTOR, not every licensed agent in California is a REALTOR who is bound by the following Code of Ethics (summarized):
http://docs.Steven-Anthony.com/RealtorCOE.pdf
Don't be discouraged, the good ones are out there, you just need to know how to find them. And, once you do find that person be loyal the same way you would be with a great doctor, dentist, insurance agent, etc.
Best Regards,
Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist
Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.â„¢
Cell: 510.461.6011
http://www.Steven-Anthony.com SteveO@Steven-Anthony.com
Dear SJS
I know exactly how you feel. I went through a dreadfui experience when selling a property (before I was in the business). I did everything that I read about, interviewing three agents, etc. and it was a mess until I found the right Realtor.
Eric is correct. The barriers to entry are very low and easy to overcome. The great thing about a big market shift is that the un-professional Realtors will not be able to survive. The bad news is that there will be more untrained agents out in the market place.
We were discussing this very issue in a training meeting yesterday: agents refusing to return phone calls, refusing to present offers, refusing to make a property available for showing, etc. We, the professionals, run into these issues more often than we would like. So you are not alone.
The main thing a buyer or seller can do is to treat the hiring process of their Realtor like any other professional: a dentist, a CPA, an ttorney. Ask a lot of questions, compare answers, and be clear on your expectations. The most common question I answer on Trulia is "my home will not sell". Think about it. That is why Realtors are hired, to get homes sold. This shows me that unmet expecations are still a big issue.
Ask the Realtor: When we put our home on the market, we can I expect?
When we enter escrow, what can I expect?
What if I have a question that you don't know the answer to?
No one knows all the answers. In real estate, the wrong answer can be expensive. A good Realtor does not stray out of their area of expertise and frequently will direct clients to professionals in that area.
To sum up, the reasons are that agents act unprofessionally because for the most part the Departments of Real Estate rely on individuals to report infractions. Entry into the business is easy, Continuing Education requirements are simple, so like in any other business, caveat emptor. Let the buyer beware.
I hope that this is helpful. You might find the Realtor Code of Ethics helpful. All Realtors are real estate licensees. Not all real estate licensees are Realtors
Wow... what you've described seems to be a strong case of "incompetence" rather than a case of lying. And I'm okay with an answer of "I don't know, I'll get back to you"... but of course, follow up is critical.
And of course, I have no idea why the few agents you've had contact with, have given you such poor service. I don't believe that this business attracts dishonest people, in fact my experience has led me to believe just the opposite.
I think you'll agree, that while you've had a terrible experience with agents (100%?), that doesn't necessarily translate to "so many agents lying". I have hope that there are many more agents out there who are competent and just waiting to be found.
I have learned, however, that we competent agents are a bit tougher to find, that I would have expected... but we're worth the search. I'm very sorry that you've had such a negative experience.
I'm sorry you had such bad experiences with both your agents. I think this points to how important it is to interview and investigate the agent you finally work with. For at least 60 days you and your agent will be working very closely with ona another, and for most people it will be the most money you have ever spent. Choosing an agent should not be taken lightly.
Unfortunately, at least here in California, the bar to getting a Real Estate License is not very high. The classes to qualify to take the state wide test are not difficult, and the exam itself is not that hard, and on top of that it is a simple pass/fail exam. Once you become an agent, the requirements to retain your license, the on going education, is not that difficult either. Agents who have been doing it for a very long time didn't even have to take an exam.
This has lead to a wide variance in the type of agents out there, from those who have treated you the way you relate in your message to those who are highly proffessional and are really out there to be an advocate for their clients.
Always look for the agents who care more about providing you with the right service, rather than the money. Ask friends who they have used. Really investigate and interview. I can assure you that the service you received is not commen amongst the agents I know, though I know there are agents out there who are as you have described.
Hi Sanjo...,
It is very unfortunate that you have such negative experience with agents. I would like to point out that in every basket, there is one or two rotten apples. You just happened to pick both of them. Our thrust as a Real Estate Agent is to give you our Fiduciary Duty and our allegiance to our client that will not cause you harm. I can only advice you to talk to some of the previous clients because Real Good Agents have a good following and their reputation is known in the area.
Best of Luck to you,
Laarni
Dear SanJoseSeller,
Like any other profession, there are good, bad and ugly people representing the profession. Unfortunately the requirements for becoming a real estate agent is not as rigorous as they need be. As a Realtor, I'm sorry to hear about your experiences. The best way to choose a Realtor is by referral. I'm sure you would not refer any of the Agents you've worked. For your future needs please make sure that you interview the Realtors references (past clients)
Regards,
Ali Moein
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