Why should real estate agents get a commission when they are nonresponsive and buyers have to do all the?

Asked by Anonymous, Virginia Sat Feb 21, 2009

research? People should go directly to the buyers then jointly to have the legal documents done. Realtors do not hustle for the sellers or buyers.

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Charlene Ble…, , Marion, NC
Sat Mar 14, 2009
Yeah, anonymous, listen to eager buyer. Then you can sue HIM for HIS advice when the house you buy suffers a crumbling foundation next year, or the septic fails next month, or the new interstate ramp takes your front yard in 2010. And you won't save three percent, because the commission is between the seller and the sellers agent. Plus, you'll pay five percent too much.
2 votes
Robert, Home Buyer, 22025
Sat Mar 14, 2009
Wow... as a buyer I'd never purchase without my realtor. Some come w/ contracting backgrounds and have good structural knowledge. Their ideas about comps and where you can strategically bid can save thousands.

Mine ruled out a home that we were excited about - because of what type of electrical issues we would have and the type of plumbing used. Probably saved us a ton of headaches. And his ability to detect when mom and pop improvements not done to code was outstanding. Knowledge of values of where ares have held value and even recommending home inspectors helped (ours caught a few things that I was able to get the seller to fix - issues that a normal inspector wouldn't catch). Bottom line - if you are flying blind , you may just be blind to what you aren't getting by asking a professional.

I buy a home every 5/10/15 years. They sell several a month - and rarely will they experience a problem they haven't encountered - yet that same problem would cause us to lose sleep at night.

Just food for thought..
Bob... (just another buyer!)
2 votes
Tish Thompson, Agent, Manassas, VA
Tue May 22, 2012
If you really have to ask why an agent should be paid while buyers do all the work, do us a favor and keep doing all the work on your own....you're doing us a favor.
1 vote
Luisa Rodrig…, Agent, Woodbridge, VA
Sun Feb 22, 2009
Hiring a real estate agent is like using anyone from any other profession. You will have really great ones, some that are okay, and some that aren't so great. That is why you should always interview several before you choose or choose someone that has been referred to you. That being said, researching homes is only a very small part of the services included by a real estate agent. Some of my clients do a lot of their own research--and for others, I do all the research. But there is so much more to buying a home than picking listings from the MLS. For example, I am constantly on the phone with the lender and the title company to make sure they are doing their job so my client doesn't have to be. When you hire a realtor, you are also hiring them for their knowledge. For example, I'll be able to tell you whether a house will run into problems with an FHA /VA appraiser --if you don't pass the FHA/VA appraisal--you won't get the financing. As your Realtor, I should be able to tell you the inherent risks in making offers on foreclosures and how those riskds differ or are the same for a short sale. This is just an example of some of the things we do --other than just search for homes. I wish you luck and hopefully you will be able to find a Realtor that meets your needs.
1 vote
Charlene Ble…, , Marion, NC
Sat Mar 14, 2009
Anonymous, I'm really sorry you got a bad realtor, but making such a generalization is like saying all doctors give their patients sugar pills and let them die. It's just not true. Still, I KNOW that there are as many bad or not-so-good realtors out there than there are good ones, and believe you me, we good realtors detest the bad ones just as much as you do. It is very disheartening to work very hard for every client, and be completely committed and capable, to always go above and beyond, to spend thousands of dollars and hours taking advanced courses to learn how to be excellent at the job, and then to read posts like this.

I wish we could educate consumers to being proactive very quickly when an agent is nonresponsive to them, the very first time. Clients who don't get a call back from their realtor that day, or in any case within 24 hours, should call the agent's broker and make a complaint and a warning. And then if you don't get exemplary service from then on, find another one and tell them why you fired your first agent. I'm not in any way saying it's the consumer's fault for accepting a bad one, but I'll bet that if it became typical to get fired right off the bat for not being responsive, those slackers would either change their ways or be gone from the business -- and then we'd all be better off.

And the posts below are correct: doing the research, finding the house is really just the beginning of the realtor's job and where their experience and expertise really comes into play. Like Robert said, I have saved many clients many dollars and many headaches because I know what I'm doing, all the way from looking at the foundation, the grade of the property, recognizing the polybutylene pipes, knowing the city's road-widening plans. I've seen deals done a thousand ways and know how to write an offer that benefits my clients and meets their particular financial needs; I know how to negotiate when push comes to shove, and I know the good repairmen in town, and the bad ones. I work as hard for my clients buying $100,000 houses as the ones buying $400,000 homes, and often harder. And I sell many more $100k homes than the higher priced ones. I worked so many hours summer before last, getting my buyers into an $83,000 house, dealing with their loan issues, foundation issues, well and septic issues, negotiating and renegotiating the contract, that when I figured it all up, I made $5.00 an hour. The seller's agent said to me twice: "If you hadn't been the buyer's agent, this would have never closed." And it wouldn't have.

I am not patting myself on the back, I'm just saying that if finding a house and writing a contract was all there was to it, then sure, go ahead and do the deal with the seller yourself. And pray it's one of those one-in-a-million contracts where that's all that is required.
0 votes
J R, , New York, NY
Sat Mar 14, 2009
Very nice straw man, Anonymous!
0 votes
Bob Georgiou, Agent, Danville, CA
Sat Mar 14, 2009
There is more to the question than meets the eye but its what is assumed by your question that I'd like to comment on.

Finding a buyer is easy, closing a transaction is where the challenge lies in every transaction. Agent's bring people together, help deal with the emotion, stress brought about by big dollar investments and the challenges each unique transaction offers. If an agent isn't being responsive there are a dozen reasons for it from incompetence to a sitation on the property that has to be dealt with (somewhat unprofessionally but if it is a problem with the sellers or listing agreement....anyhow you get my point I hope).

This is exclusive of the challenges buyers present when an agent approaches.

Hope that helps.
Web Reference:  http://bob2sell.com
0 votes
DarleneTurch…, , Babylon, NY
Sat Feb 21, 2009
It sounds like you have had bad experiences with Realtors. I am sorry that you feel this way. I have found that a lot of buyers like to do their own search either on their own or with the help of a Realtor subscribing them to a home search account either on MLS or some other source. Somes buyers like to search on their own and then ask the Realtor to obtain the details that is of interest concerning the property. The Agent then guides the buyer through the steps of purchasing the home, which includes making calls to the necessary parties, negotiating the terms, doing the paperwork and so forth. If an Agent is working for a seller, it is common practive for Agents to stay in touch with the seller and work hard to get their home sold. I would suggest that if you are having this kind of experience with a Realtor you might want to consider respectfully bringing your feelings and/or concerns to his/her attention. I feel confident that if that Agent wants to keep the lines of communication open they would be willing to listen and share their view on the subject. Ultimately, they will strive to make your journey of looking for a new home or in selling a home more pleasureable.

Sincerely,
Darlene Gonzalez
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Dumfries Zip Codes

Email me when…

Learn more