Home Buying in Hanford>Question Details

Patti, Home Owner in Hanford, CA

I have a realtor who is a broker and representing me as my agent. Is this a conflict of interest? And also we

Asked by Patti, Hanford, CA Tue Apr 7, 2009

have been prequalified with her loan company and have put down a good faith check the office is holding in the amount of $1500. I have lost out on 4 homes within the past few months because this realtor is slow to repond, is hard to get a hold of, or never calls us. We have a substantial amount to put down on a home. We just missed out on another home we placed a bid on and were in the middle of a counter offer, but this agent called us while we were wait to do a last inspection of the home and make our final offer which was much more than our previous offer, but before we could even make out offer to the counter, we get the call that another offer has been accepted in the middle of our counter offer, before we could respond. Is this ethical? Is this how it works? I am so tired of losing out with this agent and I am ready to move on. Any suggestions from the professionals out there?? Help!

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First of all let me apologize on behalf of all of us Realtors out there who are hard working, do the right thing kind of people. I am always disgusted when I here stories such as this one because it gives the rest of us a bad name. Quite frankly I work too hard creating a good name to have someone else blow it for me. Now then, while I'm not in California I can't really comment on how things are handled there. But I can sure tell you how it goes here in the big state of Texas...NO, NO, and NO!! Your realtor being a broker isn't a conflict of interest and I'm not sure why you would think that would be, however, HER loan company might be considered by some to be a conflict of interest. Our world is evolving into a "one stop shop" society so real estate is bound to wind up there themselves. Its a matter of convenience for the clientele and just plain ole easier. There is always a fine line there and I think it has to be taken on an individual basis. While it maybe right for someone else it amy not be right for you. Sounds to me like your questions are not really what your wanting to discuss though. What you really want to know about is is this person right for me, is this the way all realtors do business. Have you discussed these issues with your realtor? If so, what if anything have they done to rectify the situation? You know the old saying, "I can't fix it if I don't know its broke". In there defense and since I don't have all the facts, I would say the first thing you need to do is discuss your complaints with your agent and then expect them to rectify those situations that are of concern for you, with a time limit. If at the end of that time frame nothing has happened or your still having problems then cut them loose!!! You may have had your fill already and if thats the case I can tell you I would want you to be happy. I'm not always a good match for everyone just as they aren't always a good match for me. I am confused myself as to why another offer was accepted in the middle of your counter and frankly am at a loss on that one. Once in a while we do have another agent whom may not be quite as scrupulous as we would like and in that case I just don't want to work with that one again. You have some very valid concerns and I don't blame you for being upset and I wish you all the best. Good luck to you!!
2 votes Thank Flag Link Tue Apr 7, 2009
Hi Patti,

Well that is a bit confusing. In theory, an agent that is also the owning broker is getting a double commission - so one might think that they have TWICE the incentive to help get you into a house?

I'm concerned as to the "slow to respond", hard to get a hold of, and never calls us. That's not good.

I'm guessing (and hope I'm wrong) that you have signed a buyers agreement with him/her? If so, see if it has a time-frame on it. Either way, you should be able to walk away from that agent - BUT you probably won't be able to buy a home that you saw with him/her - with another agent. If this itself isn't an issue then get out of that relationship.

Personally, I do think that you'd be better off working with an agent that doesn't have the distractions of also being a broker.
1 vote Thank Flag Link Tue Apr 7, 2009
Sorry to hear about all the problems. I think that if you are unhappy with that person you should walk away. If you have any more problems please give me a call. I would love to help you.
0 votes Thank Flag Link Tue Apr 7, 2009
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