Home Buying in Santa Clarita>Question Details

Beau Beaubien, Home Buyer in North Hollywood, CA

I am working with an agent who seems to be guiding me towards the more expensive homes.

Asked by Beau Beaubien, North Hollywood, CA Fri Aug 8, 2008

I sent him several listing which were way below what I was prequalified for and he told me they were all in escrow. When I checked on the homes they were all still on the market and the each agent said they were not in escrow. Should I confront this agent?

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Answers

17
Like a good stock broker, doctor or attorney, their time is valuable as is yours. You should do your due diligence with interviewing more than one - Furthermore, the agents should have taken the time to sit with you and go over what you WANT.

If you are being viewed as a quick sale and over what you want to pay - Then confront, it could be a simple miscommunication issue. But at least you will know.

As Paris would tell our clients - she takes a heck of a lot of time buying a pair of shoes - When buying Real Estate - Make sure you are Well Represented.
Web Reference: http://localism911.com
0 votes Thank Flag Link Wed Sep 24, 2008
Beau,

Take charge................definitely confront this issue, there is no room in any business for people that can't be honest.

I think he/she has earned their freedom, unless their is a real good excuse....and stupidity doesn't count.
0 votes Thank Flag Link Sat Sep 6, 2008
You can if you, or you can just start working with another agent. Sounds like he will never get you in the house you want anyway. Tell him you are viewing prop with another agent and see what he does or says..Im sure that will get his attention. But more importantly, have you been preapporved yet?

You would be amazed how much an attitude will change when the agent knows they have a hot ready to buy "Buyer" versus someone who just wants to look at low ball.
0 votes Thank Flag Link Sat Sep 6, 2008
Beau
I am sorry to hear of your frustration.
If you do not have a buyer broker agreement with this agent (and I am assuming you do not), I would suggest the following:
Write a letter to the agent's broker, outlining your concerns, and the fact that you are disappointed.
If the agent contacts you tell them you are not happy and are going to find another agent.

The bigger question is how to prevent this from happening again. I recommend interviewing a couple of
Realtors and discussing your needs, concerns, and see how they respond. Unmet expectations are the biggest problem with most relationships, so you need to know up front that you can work together.

If you need a referral I would be happy to help you.
Web Reference: http://www.Beautiful
0 votes Thank Flag Link Wed Aug 20, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Ditch the agent. The same type of thing happened to us. We did a "test" on an agent we thought we might work with. We asked to see one of their listings that we knew was coming up for auction from our own county records search. The agent told us the house was in escrow. When we asked what the closing date was - big surprise - the week he indicated was the week of the auction. Whether he was deliberately lying or he just didn't know how to get the right info on his own listing, We did not care. Either way, he was not qualified to work with us. The house did go to auction.
0 votes Thank Flag Link Tue Aug 12, 2008
Absolutely speak to your agent. It's not always what you qualify for it's how much you are comfortable spending each month. As others have advised, if the property is a short sale, it can take some time for the property to show "pending". If you actually spoke to the listing agent and the properties are truly available after your agent advised they were not, speak to your agent, give them the opportunity to research the information. If you are still not satisfied, look for other representation.

Best of luck,
Sean
Web Reference: http://www.SeanSeckar.com
0 votes Thank Flag Link Mon Aug 11, 2008
Hi B, We seem to want to point the finger at the agent whenever things don't 'fit'. Have you considered that the homes you want to see are 'short sales' and there are pending offers already. Maybe your agent had trouble clarifying this possibility. They should be listed as PS (pending show)..The problem..Agents seem to forget there are new requirements. That may explain why the other agents told you they were still available.

PS (pending show), in this scenario means, the home has at least one offer with the bank. The bank is reviewing it. In the meantime, continue to show as there is no ratified sales contract. Hence, the listing agents have told you they are not in escrow.

Michael
http://www.MichaelRobertsHomes.com
0 votes Thank Flag Link Sat Aug 9, 2008
Yes, you should discuss this issue with your agent. I wouldn't use the word "confront," but have a direct conversation. To your credit, in checking on whether the houses were in escrow, you didn't just rely on online data, but actually called the listing agents. There can be a lag between the time an action occurs and the time it gets posted on the MLS. But you were getting the information from the best sources possible. So, I definitely understand your concern.

Further, as Frederick says, your agent should be showing you properties in whatever price range you're comfortable with. It doesn't matter whether you're pre-qualified for $1 million, and only want to see properties up to $500,000. You ought to be shown properties up to about $500,000. (I say "about" because there might be a great property at $525,000 that you could negotiate down to $500,000.) If your agent is responsive to your requests, it can be time to consider getting a new agent.

Hope that helps.
0 votes Thank Flag Link Sat Aug 9, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Hi,
It's real simple, it your dime on your time. I tell my clients it is their decision to determine when to buy and how much to pay, we provide solid information and assist in the real estate process. Best of luck.
Web Reference: http://www.TVandemark.com
0 votes Thank Flag Link Sat Aug 9, 2008
No agent should ever steer you towards a house. Our job is to show you homes that you are interested in and let you choose the home that works best for you. Many lower priced homes do go quickly and many still have multiple offers especially the bank owned homes as people feel they are getting a bargain which is another story but you should speak to the agent first to give them a chance to explain. Then if you still do not trust this agent, I would find another one that you are comfortable with.
0 votes Thank Flag Link Sat Aug 9, 2008
definitely get a new agent..... only target those you can afford, especially in this market. I am also a state licensed appraiser so any and all properties I can guide you as to the true value. Let me know
Web Reference: http://www.centuryside.com
0 votes Thank Flag Link Sat Aug 9, 2008
You wanted opinion on whether you should confront this agent,... I say yes. Tell him/her what you found out and see what he/she has to say. Based on the outcome of your talk, if you feel you can not trust the agent anymore as he/she is not looking after your best interest, fire him/her.
0 votes Thank Flag Link Fri Aug 8, 2008
No matter what you are pre-qualified for, if you gave you agent your comfort range and he is not looking in that range, you need to address it with him or his broker. If you have lost trust in this agent, you can ask for another agent.
Web Reference: http://www.fredscvhomes.com
0 votes Thank Flag Link Fri Aug 8, 2008
John is correct your agent has an incentive to get you closed for the fact that is when they get paid, if they keep you out looking for homes it cost the agent additional money. Many listing agent may not state the truth determine if they can get you as a buyer. If you think about a few $1000 dollars difference = few $100 to the agent. http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Aug 8, 2008
A couple of things to consider.

Sometimes listing agents do not report sales in a timely manner. One of the reasons this happens is that after an offer is accepted the buyer has a right to cancel the contract if there is a problem with the loan or the physical inspection. With this in mind some agents do not report the sale to continue attracting potential buyers "just in case".

Obviously, I don't know if this sort of thing is happening in your case. You can check it easily enough by speaking directly with the listing agent of the house that is supposedly sold but still showing available. It is unlikely that the listing agent would not tell you the truth.

The benefit of you doing this is that if the house is actually available and you like it you can buy it.

On the other hand, if it is sold now you know that your agent was telling you the truth. Either way, you are ahead.

Good Luck,

John Hickey
Dilbeck Realtors, GMAC
818-541-7311
John@JohnHickey.com
http://www.JohnHickey.com
0 votes Thank Flag Link Fri Aug 8, 2008
Take it up with their broker and ask for another agent. The trust has been broken.
0 votes Thank Flag Link Fri Aug 8, 2008
Dear Beau Beau,

Honesty and Integrity are two very important qualities and traits of a professional. I only do business with those whom I trust and your agent isn't acting in your best interest but in HIS/HER interest. It's your choice, but the facts still remain that there is a breech of trust when someone misleads the very person they are "guiding". Have you signed a Buyers Agency agreement with this agent? If so, he/she has a fiduciary responsibility to represent your best interest. If you haven't, it may be time to take your business elsewhere.

Let me know if you'd like a referral of some terrific agents in North Hollywood.

Have a nice evening and thanks for taking the time to ask this very important question.

Sincerely,

Maggie
0 votes Thank Flag Link Fri Aug 8, 2008
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