Why is it so difficult to find a realtor who will actually work for the buyer and keep buyer aware of new properties coming on the market? Thanks

Asked by Lory, 93950 Fri Oct 9, 2009

bidding war question..If the property appraisal comes back lower than the bid price, is the bank forced to sell for appraised value? I have been told by 2 realtors that potential buyers make large bids to intimidate other buyers, then the appraisal comes back lower than the offer and that becomes the selling price.Right or wrong? Thanks, Frustrated buyer

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J R, , New York, NY
Fri Oct 9, 2009
I never had a buyer do that. I've once had a buyer make an offer, the home came in 50,000 below and they buyer came up with more cash.

As for why is it difficult to find a realtor to work FOR a buyer. . . . you may be confusing representing a buyer with finding a buyer a home. You can easily have an agent work FOR YOU in your best interest by hiring a buyer agent. Speaking for myself, I have no problem keeping buyers aware of what is coming on the market, however I also set my priorities. If I have been telling a buyer (customer) about homes, but they aren't making any offers or expressing any interest, eventually I have to ask myself how serious they are. And if I am concurrently working with sellers (my clients) and am negotiating offers, etc for them, plus finding homes for my buyer clients, a customer who is only looking or has been looking and not always responding will fall lower on my priority list. You have to remember, and agent may be working with 4 or 5 buyers, plus have a handful of listings at the same time.
1 vote
Luis Cano, Agent, Monterey, CA
Sat Oct 10, 2009
Ask your friends and family members who they use as their Real Estate Professional and what their experience was like. A Real Estate Service Proffesional's goal is to exceed clients expectations, be a buyer or seller. With technology nowadays it is so simple to communicate and keep updated. Set the expectations!

Finally a home is worth what a seller agrees to sell and a buyer agrees to buy!

Let me know where you are looking and I can send you an automated e-mail update everyday

Bon Voyage,

0 votes
Jesse Sierra, Agent, Pomona, CA
Sat Oct 10, 2009
Everything happens for a reason.
Be strong and if the agent you are working with doesn't keep you posted, well you know what to do.
At times the selling bank will add an addendum that if you offer high and it doesn't appraise at that value you have to pay the difference. Or the property does appraise at that value and you have to purchase at that price you submitted. If you don't receive the addendum or added on the purchase agreement you can play that game, but be ready to pay the piper at the end.
Talk to your agent and see what he has to say. You might have to look for less expensive properties and offer more. Or try your luck with short sales.

Best regards,

Jes Sierra, B.Sc.
0 votes
Kerry Harvell, Agent, Monterey, CA
Fri Oct 9, 2009
Sorry to hear about your struggles and frustration. This market is VERY challenging on a lot of levels. You're going to hear advice from many sources, much of it contradictory.

The purchase of a home comes with a lot of fears, excitement and emotions attached. I know you will start to obsess about it to the point that it's difficult to function on a daily level. I see relations get stressed, health suffer and depression set in. It doesn't have to be that way.

My best advice is to find the right Realtor before trying to find the right home. This could very well be the most expensive purchase of your lifetime. This will certainly affect your future plans. Find someone that is willing to actually listen to your wants and needs, not someone who just wants to tell you "how it's going to be". You need to have your "honesty meter" running and feel that what they are telling you is the truth. You will need to have faith in them. At some point, with some one, you will have to put your financial future in their hands. Good luck! At the end of the day, it will be worth it.......
0 votes
Keith Sorem, Agent, Glendale, CA
Fri Oct 9, 2009
You need a strategy to buy a home in this market.
I don't think you have one.

You need to work out a PLAN with a Realtor and STICK WITH THEM.

Otherwise you are going to miss out.

This is a long term process, it is not easy, and requires commitment.
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