Does it scare you when you encounter so-called "experience" agents who don't know basic concepts of contract deadlines and property disclosures?

Asked by Sally Grenier, Boulder, CO Sun Aug 25, 2013

Is it just me, or are you shocked (and appalled) when you encounter an agent who has been in the business a long time, yet they write poor contracts, don't understand contract deadlines, and doesn't know what property disclosures are required? And I feel bad for the agent's client! They deserve better!

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16
Amie Morozs, Agent, Greenwood, CO
Sun Aug 25, 2013
BEST ANSWER
Yes! I'm tired of seeing contracts with every other line n/a or lately I've been getting so many TBD. A good agent that is selling real estate as a full time job should know how to fill out every line of a contract, and explain to their clients what every line means. So many just don't. Good luck.
1 vote
Tim Klein, Agent, Littleton, CO
Sun Aug 25, 2013
Sally - -the saddest, worst part of it is many of these agents are extremely successful, doing alot more business than the rest of us!
2 votes
Tim, I totally agree. It seems high volume often equals poor quality.
Flag Sun Aug 25, 2013
The ones with the worst customer service and the lack of ethics and morality that make us look bad and give the profession a bad name. Between agents, brokers, and escrow the basic contract quirks will be ironed out.
Flag Sun Aug 25, 2013
Connie Mitch…, Agent, South Padre Island, TX
Sun Sep 1, 2013
Have had a handful of these agents to deal with myself. In the best interest of my clients and to take that baby to closing....... I work both sides to ensure all docs are in and completed in a timely manner. I copy the agent and title company on everything. If you keep haveing to deal with these same agents, maybe copy thier broker on these docs you are having to complete for them. A little sweet hint hint nudge nudge might go a long way.
1 vote
Bill Eckler, Agent, Venice, FL
Sun Sep 1, 2013
Yes, ours is a business that seems to nurture self proclamation that far exceeds sainthood, walking on water, and miracles. However, it's reassuring to know that in most cases, the truth is quickly revealed.
1 vote
My NC Homes…, Agent, Chapel Hill, NC
Sun Sep 1, 2013
Appalled is the word I use and like you I actually feel bad for the clients on the other side who are getting miserable representation. Until State Real Estate commission stop making it so easy to get a license in the first place and insist on 32-40 hours a year in continuing ed, we're going to continue to get both poorly trained and lazy agents hanging around. I've been a full time broker over 23 years and have had a license even longer and in several states and my opinion has never changed: 60% of the Realtors with licenses should never have been given them, they really don't know what their doing, and it's scary to think of consumers trusting these people to "represent" them in what's usually the biggest financial transaction of their lives.
1 vote
Dennis Evans, Agent, Clifton Park, NY
Sun Sep 1, 2013
Sally,
It does Occur, Some agents get complacent or just lazy.... It is the same in any line of work, You have the good and the not so good. However, Most of the agents I have worked with are good people who do decent work.
Are all of us the same? No... But I like to think that gives our clients an advantage.
I know my clients deserve the best and I feel very good when I have served them well...
Hope all is well in Denver.... Only the best to you...
1 vote
Mack McCoy, Agent, Seattle, WA
Sun Sep 1, 2013
Not really, but I do feel for agents that run into these problems often.

In (over fifteen) years, I have had a COUPLE of transactions that I felt that I had to nudge into compliance, and - to be honest - there were a couple of times that I got nudged myself (I woulda caught it, you know I woulda).

Statistically, somebody has to be the person who gets the preponderance, and I'm sorry that it's you.

All the best,
1 vote
Robert McGui…, Agent, Denver, CO
Sat Aug 31, 2013
Hi Sally,

Yes it does. It is scary and appalling. Some companies hire agents with little or no experience and turn them loose, hoping that the experienced agent on the other side will walk them through it. What is more amazing is that sometime there are somewhat accomplished and known agents that you wonder how they made it this far. Their clients are definitely being shortchanged.

Robert McGuire
Broker/Consultant
Your Castle Real Estate
http://about.me/robertmcguire33
1 vote
Bob Gordon, Agent, Boulder, CO
Mon Aug 26, 2013
Contract deadlines are incredibly important in today's seller's market. Agents need to stay on top of deadlines to avoid a contract accidentally terminating -- when a back up offer could be lurking.
1 vote
Exactly, Bob! Just had an agent w/ 12 years experience say, "do both parties have to sign by the inspection resolution deadline?" His buyer missed the deadline. Lucky for them we don't have a backup offer and we're able to bring the contract back to life.
Flag Mon Aug 26, 2013
Thomas Moser, Agent, East Northport, NY
Mon Aug 26, 2013
Some people have twenty years of experience. Others have one year experience twenty times!
1 vote
Joseph Domino, Agent, Scottsdale, AZ
Mon Aug 26, 2013
Yes, it not only shocks me, it angers me.
1 vote
Stim Kennedy, , Denver, CO
Mon Aug 26, 2013
Unfortunately many agents are not truthful about their experience with Buyers and Sellers in their
practice of residential real estate. My suggestion, ask for referrals to people with whom they have
done business. Ask for proof that they are the 'top' agent in sales in a specific neighborhood; ask
to see their 'closed' files.

In a study commissioned by Metrolist a few years ago, it was discovered that most 'new' agents
last about 18 months in the business before they give up. If they make it that far, they may continue
on for 5 years, Agents that 'pass muster' after 5 years of practice usually continue on for 10 years
of service.

Most newbies get little to no advise from supervising brokers as to what type of prospecting they
should do to get an good start and continue on a savvy program of building their business. When
I started in real estate almost 40 years go, my supervising Broker suggested that I should work
'For Sale By Owners' and 'Expired Listings'. While my efforts in these two pursuits did result in
some success, if I had not left that company and gone to work for a Broker/Manager in a high
producing office who guided me to other ways of building a 'book of business', I would not be
in real estate today. Real Estate is a 'Prospecting Business' !! Work smart.

I have encountered agents in my area of Commercial real estate specialty who don't know how
to calculate a 'Cap Rate' on an investment property. Nor do they know how to calculate 'Internal
Rate of Return' or 'Cash on Cash' computations. They also typically fail to advice their client of
1031 Tax Deferred Exchange opportunities while selling a partially or fully depreciated property.

My best advice: Interview several Realtors. Ask about their transactional experiences. Ask for
recommendations from past clients. Call their Supervising Broker/Manager for an assessment
of that particular agent's level of competence. Ask the agent to bring blank forms of Listing and
Sales agreements and to review the forms and explain the intent of the contracts.

Take the same care in selecting the 'best' Realtor for the job as you would in selecting a doctor
to evaluate your medical condition and recommend solutions.

Sincerely,

Stim Kennedy
Broker, CRS, ABR, NCE, SEC
stimson KENNEDY Realtors
Cellular: 303 478.9494
1 vote
All great info...but I am a Realtor (hence the reason for posting the question in "Agent to Agent" section).
Flag Mon Aug 26, 2013
Joan Lorberb…, Agent, Boca Raton, FL
Sun Aug 25, 2013
It's appalling that there are so many licensed agents out there who have no idea of what they are doing. And I'm talking about the ones who have been licensed for many years. It also is appalling that both small and large brokerage firms let loose newly licensed agents without any supervision to negotiate and write up legal documents. This should not be allowed.
1 vote
Nancy F Shar…, Agent, Denver, CO
Sun Aug 25, 2013
The best way to handle this is to contact the managing broker of that agent's firm to express your displeasure, your disappointment, and your amazement. You also may want to check with the Colorado Real Estate Commission to see if any complaints had been filed against this agent. Then, you, as a consumer, can file a complaint. As a licensed Realtor, I cannot file anything with the Real Estate Commission, but I can speak with the agent's manager.
1 vote
But I am a licensed Realtor, (hence the question in "agent to agent" ;-) ). I think agents should be able to complain to the commission too when we see incompetent agents who jeopardize the deal for the clients!
Flag Sun Aug 25, 2013
Johnny James, Agent, Carson, CA
Sun Aug 25, 2013
The same thing happens in any field. You go to a dentist and after all those years of school and years in business they still do a horrible job, or you take your car to a mechanic who has a license and years of experience but can never seem to get your brakes right.
1 vote
Jim Foster, , Denver West, Lakewood, CO
Sun Aug 25, 2013
Maybe a part-time agent? The fact is there are a lot of bad agents out there, and if you're doing a fair amount of transactions you'll run into them more often than not. I agree, it's unfortunate for their fiduciaries.
1 vote
Have had two encounters recently. One is a full time agent, does a lot of business and has been doing it for 12+ years! He didn't know that we were out of contract when his client didn't sign the inspection resolution by that deadline. I could have accepted a back up offer at that point and left his buyer high and dry. Another agent is new to CO but has been a Realtor for 20+ years and didn't provide a SF disclosure and just said to get it from the assessor!
Flag Sun Aug 25, 2013
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