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John, Home Buyer in Sacramento, CA

we are first time home buyers that is pre approved by BofA through a broker. our agent who works for the

Asked by John, Sacramento, CA Thu Apr 9, 2009

broker is the one who got us pre approved., however our agent seems to push for properties that are foreclosed or reo, and seems to discourage us from shortsale. we are aware that short sale is time consuming and uncertain., however the majority of the properties we are interested happen to be shortsales. it seems like we also do most of the leg work in finding information about properties that we have even signed up with realty sites that you have to pay. it seem like we have more information about properties that we looked at than our agent. and that our agent just meets us at the homes and literally just opens the door. .we are frustrated. my question is .. can we fire our agent and do we have to get another pre approval.

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Okay - a few things.

I discourage my buyers from considering short sales. Just yesterday I answered a question here from a buyer in a short sale contact, the seller has vanished. They may be stuck in a contract that can't go anywhere. They can't get out of the contract, can't get their deposit back. They are stuck. I wonder if their agent tried to warn them.

There are so many heartaches. The contracts are TOUGH, it is not just about time. You apparently don't understand how much your agent is trying to protect you. Having said all of that, they are possible and sometimes do have positive outcomes, but it is largely dependent on the listing agent and many of them have no clue what they are doing, unfortunately. I won't get into why that is - there are many reasons... lots of bad information floating around. But the reality is it is the blind leading the blind sometimes.

Paying for REALTY TRAC is probably just a waste of your money. Homes on that sight may or may not be available for sale. So having that information doesn't really give you an advantage.

When a client is tech savvy and likes to be proactive, I often have them do some online searching. They don't need my assistance to look at a picture and read the description to see if they like it. This, by the way, is NOT what we get paid for. But, if you want to go to her office and look over her shoulder while she does the MLS search and go through it with her, I am sure she'll let you do that. It just seems you'd be more comfortable in your home. But, whatever... personal style.

When she gets to the property and opens the door, what exactly do you want her to do - talk you into buying a property? She is working for you, not the seller.

I am playing devils advocate here. My words don't mean too much at this stage, but if you are going to hire a new agent, think about the answers I've given you. Then, define what kind of service you want - and why - from the new agent. That will help that relationship be more successful.

What your agent has not done well is gain your trust and confidence. That is the largest part of her job. So you probably should not continue on with her. When you get into a sticky situation - and in this market, it is practically guarranteed that you will - you won't feel you are being well represented.

So, talk to her broker. I am assuming you have a buyer contract? It is with the brokerage, not the agent (right?) So, maybe you can be re-assigned to another agent. Most offices have many agents available.

Good luck to you.
0 votes Thank Flag Link Fri Apr 10, 2009
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