Home Buying in 91724>Question Details

kidmadness, Home Buyer in 91702

Our agent always says offer listing and doesn't show us CMA.

Asked by kidmadness, 91702 Fri Apr 18, 2008

We have made a couple of offers, but our agent has never shown us CMA, so we ended up offering listing price. Plus, it seems like we do all the work on finding homes. I pretty much email them over and he will schedule a showing. Also, he weeds out the "short sales" saying that they are a "nightmare". What can/should I do?

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15
Consider finding another agent. You should not make an offer without the benefit of a pricing analysis. And short sales are moving much better than they used to if you align yourself with good resources - and that includes the agent and the attorney.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
1 vote Thank Flag Link Fri Dec 3, 2010
Unless you signed a contract, you can choose another Realtor. However, you can simply ask him for market comparables and he should be able to provide those for you quite easily. Although Short Sales are often timely and difficult to predict, if you are in no hurry to buy, you may actually be able to find a very nice deal via a short sale. Remember, the offering price doesn't necessarily reflect the property's true market value.Your lender will have the final say on the value and will be conveyed in the appraisal. Do yourself a favor and run comparables before writing any offers.
Web Reference: http://www.AQHomeLoan.com
1 vote Thank Flag Link Fri Dec 3, 2010
You can do the obvious. Get another Realtor to represent you. There are plenty of eager, helpful, educated and open about their method of business. You should not be in the dark regarding a home purchase. You run the show, not the Realtor. Take action and jump ship - just don't jump in too fast. Make sure the next one has the credentials you are looking for. Don't be shy - ask, ask, ask.....good luck!
1 vote Thank Flag Link Sat Apr 19, 2008
Kidmadness,

Although, from what you tell us, I don't think this agent deserves a second chance, it may be worth it to simply sit down and lay it all out. It may be simple misunderstanding of expectations. However, I agree with most who have replied - find another agent. This agent should be showing everything that meets your criteria and should know the comps for the area and offer an opinion about the list price.

CJ
Web Reference: http://www.TalkToCJ.com
1 vote Thank Flag Link Fri Apr 18, 2008
Kid,

What the other agents here are saying is true except for one thing. In TODAYS market conditions I will tell you if you do not at least offer listed price there is a slim to no chance of getting the property. Now, of course there are acceptions to this. But, inventory is low mostly due to the banks holding the foreclosures. When they were openly releasing all the foreclosures there was alot of inventory, since the moritorium the inventory is very low. Which is making more competition for the homes that are available. I can tell you, of the offers I make there are at least 10-15 other offers on the same homes. Many of the offers going 20-30 thousand over listed price, now the appraisals are a problem. So I think, your agent is not misleading you just needed to explain to you the reasoning. Now every area is different, I list many bank owned homes and I get 20 offers on each one also. It is just the state of the market now.
0 votes Thank Flag Link Tue Dec 1, 2009
Kidmadness,
Everyone is different. Find an agent that matches you. There are many good honest agents around. Let your new agent know what you expect.
Jonathan Starr
0 votes Thank Flag Link Tue Jul 28, 2009
listen to your agent.

Short sales are a nightmare and rarely work out !

You and I both know that the agent cannot force you to make an offer that you are not comfortable with even if it is the listed price. If you have asked for CMAs and the agent refused, fire em

sounds like there is more to the story
0 votes Thank Flag Link Sat Nov 15, 2008
I agree with most of the other REALTORS responses...the key items that you want to remember is that your home will be one of the largest purchases you will make and while it is bound to be a nervous time, it should also be a positive and exciting time for you! That being said you also need a REALTOR that is familiar with the area in which you are looking as well as the market trends in that community. Once you have found the home you want to make an offer on, your agent should show you all of the RECENT closed sales, pending, expired etc. for like homes. They should then discuss offer strategy and come up with a plan of attack. It sounds as though your present agent is either inexperienced, out of area or just paln lazy.

I will agree with your agent on one point short sales are a nightmare for you as the buyer, if you were tempeted to go that direction I would recommend bank owned.

You have a right to "fire" your agent if you feel that they are not providing the service that you need. If you do this, then just be sure and "interview" your next agent and ask for references.

Good Luck!
0 votes Thank Flag Link Sat Nov 15, 2008
Yes, you need a new agent or at least sit down and talk to this one. At this point in the market, you do not need to be offering listing price!! CMA's are a must on the solds but even if the comps show a fair price, your agent should try to get you a deal. Short Sales are a pain, in the agents defense. They could take a very long time. You might think you have the house, and then not, etc. The list goes on. There is nothing wrong with sending the agent listings you want to see as long as he/she is also doing their part and sending you listings as well. cameron.fedderman@era.com
0 votes Thank Flag Link Thu Apr 24, 2008
I would set the expectation hold your agent accountable and if they cannot deliver then find new agents. But setting the expectations should give you the ability to weed out the ones that wont be as aggressive. Always remember your the client...

Good Luck!!!
0 votes Thank Flag Link Fri Apr 18, 2008
I agree with the answers so far, you definitely need another agent. Of course there are many professional agents out there, but how do you find one that is perfect for you? In my experience people who get a referral from another professional fare better. If you would like to have me as a "neutral party" to find you a Realtor in your area that will communicate with you and really treat you the way you should be treated, let me know.
0 votes Thank Flag Link Fri Apr 18, 2008
You need another agent. The nightmare you have is the agent you have now, and that nightmare can last you 30 yrs if you are not careful.

Find an agent that will at least run you:
1) CMA of SOLDS for the type of home you want in the specific neighbourhoods.
2) CMA of homes available, summary report showing what sellers are asking for broken down by prise per sf.
3) Short sales can be a pain...do you have enough cash, time and patience to deal with title issues, and fighting with banks? If you do...mostly the cash, then take on the additional troubles.

Focus on what you need...and at the end of the day I never let myself, businesses nor clients ever offer list price.
Web Reference: http://www.iansellsnola.com
0 votes Thank Flag Link Fri Apr 18, 2008
Kidmadness,

What can you do? Change Agents!! I always believe that I, as a Real Estate Agent, work for you. I should follow your lead and be able to HEAR you. I should be able to e-mail you listings in the areas you prefer and you tell me which properties suit your needs within your budget. If this agent can't do that, please do not punish yourself.
Best Regards,
Laarni
0 votes Thank Flag Link Fri Apr 18, 2008
Dear Mari,

Your agent should be working for you. If you have a Buyer's Agent Agreement, then the agent should be negotiating the BEST price for you, inform you of ALL the most recent sales in the market area AND send you the homes that best meet your needs. This is at a minimum. If you are not getting this minimum from your agent, I believe the wisest thing to do is to work with an agent that will meet your needs. There are many, many professional and wonderful agents who are more than willing to offer a level of service that you deserve and expect.

Wishing you ONLY the best!

Maggie :)
0 votes Thank Flag Link Fri Apr 18, 2008
Mari, CMA's are critical in buying and selling. Do you have a Buyer's Agent agreement with your realtor? Many agents are reluctant to give too much information or do too much work if they do not think they will get paid for their work, which is understandable. If you do have an agreement, then communication is key. Tell your agent of your expectations. An agent should be willing to help you with what you are interested in not just what they want to do or enjoy doing, but a realtor does need to be honest about the "ups and downs" of certain situations. If your agent is not comfortable with or capable of handling your specific situation, ask them to refer you to another realtor who specializes in that area. It is also okay to find another realtor if you are not able to communicate well with your realtor or if you don't think they are working for you..
0 votes Thank Flag Link Fri Apr 18, 2008
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