Thank you for you kind responses, including those from individuals(s) who are not real estate agents.
For those of you who are real estate agents: I have taken it upon myself to carefully review information at your websites, as well as to review any records associated with your licenses maintained by the state of Tennessee.
I discovered that one agent who posted in to thread with an offer of assistance was assessed a $1,000 civil fine by the state of Tennessee state regulatory board for "failure to submit a timely offer." This same agent paid another $1,000 fine for an earlier and unrelated incident "when it was determined (that individual) paid commissions to an unlicensed firm in two transactions and for failing to properly make agency disclosure in two of five transactions reviewed by the auditor."
I'd like to hear from other agents if they think it is o.k. to seek the services of an agent with these sort of violations, and if so, why? Also, are these type violations common in the industry? Personally, I was shocked when I read this and could not understand how this individual managed to retain a real estate license.
I am still reviewing answers being posted here in this thread, and as well doing some more research on the housing market in your area. I appreciate all of your input.
Thank You Very Much,
Another service provided by realtors is negotiating. A "low ball" offer would need to be substantiated in order to be considered.
The real estate contract itself is of interest to me. Is the contract you are using approved by the State you are buying in?
Ever hear of someone inheriting a property, then when they try to sell it, finding out there is a cloud on the title? You may conduct transactions with illicit, or just incorrect, paperwork but it will eventually catch up with the property. Freeing the title so that the property can be legally sold can be time-consuming and costly.
Suppose the gentleman does as you suggest and drives around calling numbers off signs in front of houses he is drawn to. On the one hand, getting a feel for the neighborhoods is always good; on the other hand, could he spend his time more effectively by enlisting the aid of a professional?
The gentleman tells his Realtor what he needs in a house; how many bedrooms & bathrooms, style of house, garage spots, amenities, etc. He also tells his Realtor where he will be going daily and weekly.
To business and social activities, school and volunteer functions, etc. He also tells his Realtor what he likes to do in his spare time. (i.e. golf, fish, bowl, swim or bike) The Realtor puts this all together with his knowledge of the area and shows the man the five best homes in his price range that meet his criteria.
It takes perhaps 2 - 3 hours, including the initial conversation.
Many people find that their time is too valuable to spend finding a house your way.
Many people prefer to work with a professional when making large investments such as a house.
And yes, your "answer" did make me think of a used car salesman.
Keller Williams Realty
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You have had a lot of great responses from Realtors in our area. Have you found a Realtor to work with yet? I was wondering how your home search was going. It's good to get feedback from buyers on how they are treated in our market and how Realtors can better serve their customers
Century 21 1st Choice Realtors
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Welcome to East Tennessee!
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Century 21 1st Choice Realtors
Lots of good feedback. Personally, I think you should ask your colleagues. I am sure there are several in your new office who have purchased homes. Once you ask around, decide on 2 or 3 agents, do the background checks, and then interview. There are several top notch agents out there, find the one you feel most comfortable. A referral says a lot about an agent.....more than anything you could read or anything they could tell you. Best of luck with your search for an agent and your new home.
Tina Evans, Principal Broker
Having said that, I would be reticent to hire an agent knowing that they have been assessed penalties. There are lots of Realtors out there with no blemishes on their public record and without a personal recommendation you could certainly use worse criteria for narrowing your selection than that one.
Just give a call to 423 991-1671 and we can make arrangements for a consultation and get started.
Look forward to hearing from you,
423 991-1671 Direct
423 875-2255 Direct Office
Once you have done that, then it is up to you to decide which agent you feel will truly represent YOUR needs from start to fininsh and then hire that agent. While at times, knocking on the door of a house for sale works, if there is a realty sign in the yard - it's the seller's way of saying that they've hired a professional to handle their home sale and all buyer's - please contact the agent. In the price range you state you are approved for, I firmly believe it is in your best interest to hire a professional realtor to represent you, and only you. Best of luck.
In response to the previous poster, even if a buyer deals directly with the seller on a property they find on realtor.com, the listing agent will still receive their full commission. You've done all the work and they'll still be paid. There are real benefits to using a buyer's agent.
Hope to hear from you soon.