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Asked by Gp, Orlando, FL Thu Feb 21, 2013

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Answers

13
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Fri Feb 22, 2013
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FLORIDA MORTGAGE BROKER RESPONDING...

You really want to know the real reasons why? Its not pretty and few realtors will tell it like this, but I’ll tell the truth!

Its because of how bad they're treated by so many consumers who will use them for many months and then after they show them 50 or 60 homes over 10 weekends, without even as much as a courtesy call or email, buyers will jump ship and close with another realtor who as almost no time and effort invested in helping them!

Many consumers are completely void of integrity, honesty and loyalty and have no problem using and abusing the good faith efforts of realtors only to then stab them in the back without warning after taking massive amounts of their time and effort to help them.

I’m defiantly not the biggest fan of realtors as many know on this site, but see how bad many consumers are and the stunts they’ll pull without the least bit of regard for those who have so much time invested in helping them with no regret whatsoever!

Ever heard the old saying…”Buyers are Liars?” Many in the industry will say its never been more true and getting worse as time passes. So with gas prices at $4.00 per gallon and an avalanche of buyers seeing prices going up at 6% or more and jumping in the market, do you blame a realtor for asking for a Good Faith Commitment from a buyer in advance?

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6 votes
I will tell you the true..that everybody out there already know but..yes it is not pretty at all!
who are completely void of integrity is your category!
why in the world one customer would waste time with one agent and after buy with another? did you answer this question?
I'll tell you why..it because he cares of his own interests! that all!
Your category is so deeply diverted that some of you offer discount commission, flat commission or none commission at all (if they do not do the job!!).
there is your problem..if all agents were honest and professional each others you would not have problems, do you?
Flag Fri Feb 22, 2013
Danielle Sha…, Agent, Cape Coral, FL
Fri Feb 22, 2013
Well, since real estate is SO easy and it sounds like you have all the answers you shouldn't need any of us. Good luck in your quest.
1 vote
Danielle Sha…, Agent, Cape Coral, FL
Thu Feb 21, 2013
It's not required but there are definite benefits to knowing you have true representation. There is always an escape clause if either party is not satisfied with the relationship. Off market listings are not that common & any real estate agent that has MLS access can show you property. Signing a buyer broker agreement shows commitment by both parties. You can't have it both ways as far as protection...it's either single agency or transaction broker, can't have both.
1 vote
P.S.
off market properties are not that common?
are you serious?
Flag Thu Feb 21, 2013
not true at all! you can have your protection signing a single agent agreement limited to the properties you actually present to your buyer!!
why should I waste my time with one single broker when many can make me find different solution!!
are you going to work only for me? everyday?
the only true is that you are terribly scared of losing your commissions!
and you are scared because the category is full of dishonest agent...
otherwise if each agent was professional and not steal the work of others..it would be enough for you!
Flag Thu Feb 21, 2013
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Sat Feb 23, 2013
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Gp

Like I've said before many times and in my post below, over the years I've not been the biggest fan of many Realtors. But after the last six years which has thinned the herd of Mortgage Brokers and Realtors, the relatively few of us that are left are having to put forth 5 times more work and effort per closing than we did prior to 2007.

Same as Realtors experience, Mortgage Brokers are routinely the victims of very dishonest and unappreciative clients! These clients will use you for many months, sometimes up to a solid year! This is a VERY HOT topic for me right now as I have just experienced the most disgusting stunt ever pulled on me by a client in the history of my career!

Though there are a lot of good, honest and appreciative consumers, however many in the industry will tell you that their numbers are shrinking. I’m amazed and sickened to see just how completely inconsiderate and unappreciative so many people are these days!

Again, though I’m not the most Realtor friendly Mortgage Broker, the Realtors in my “Circle Of Trust” that I send my pre-approved buyer referrals to and the Realtors who send to me business, who know I’ll bend over backwards to get their deals done, all know I got their back! But its sickening to watch how so many clients will use and abuse them for months, after showing them 25 to 50 properties, then jumping ship to some “Johnny Come Lately” realtor that shows them a home way above their criteria which they force my Realtor partner to stay within, basically stealing months of their time and professional knowledge without as much as a simple phone call or email thanking them for all their time!

Then have the freakin nerve to tell me the Realtor partner who referred them to me for the loan wasn’t able to find them or show them any homes they were interested in!! As you could imagine, this puts me as the Mortgage Broker in a very difficult situation, having a referral sent to me by one of my Realtor partners, whose buyer is jumping ship on them.

What do I do? I do whatever I can to get them to think about all that my realtor partner has done for them, all the time they have invested in helping them and try the best I can to get them to stay loyal to them. Or... I try to get them to be added as referral so they can at least share in some of the realtor commission on the property, etc.

I could never do to others what I see consumers do to Realtors and Mortgage Brokers without the slightest bit of remorse for pulling some of the most back stabbing stunts you could imagine!
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0 votes
I really can feel your passion and understand your point of view...
you've met idiots customers .. I have met large number of totally useless agents!thanks for your answer!
Flag Sat Feb 23, 2013
Brian Mahoney, , Orlando, FL
Fri Feb 22, 2013
I truely wanted to thank you your honesty. Its better this way, like a band-aid....just rip it off and get it over with.

and now I can go fishing tomorrow... thanks again! :)
B
0 votes
hope you catch a big one! :)
Flag Fri Feb 22, 2013
Mack McCoy, Agent, Seattle, WA
Fri Feb 22, 2013
- Mack we are not talking of me

In that case, glad we could help. Best wishes on your future endeavors.
0 votes
Gp, Home Buyer, Orlando, FL
Fri Feb 22, 2013
We read all the answers,
many of you believe you are doing a tremendous and scrupulous job , and maybe some of you do, the vast majority don't!!
they do simple task open and free to everyone, mls search is free; offer and all type of contract are on line free and you only have to read them and fill them (at list you can have a lawyer for 1 hr if it's very complicated issue!!) the rest is done by escrow (that you pay) you have just to fallow them.

So what you really need is an honest professional that listen to you, your needs and help you and not a person that didn't go to college or find other jobs and just spend a week on some stupid test book to pass a ridiculous real estate license exam..and most important...you do not need a contract or an agreement be an honest person!

For all of you that think is the customer's fault..
is always others fault isn't it?
I will tell you the true..that everybody out there already know but..yes it is not pretty at all!
who are completely void of integrity is your category!
why in the world one customer would waste time with one agent and after buy with another? did you answer this question?
I'll tell you why..it because he cares of his own interests! that all!
Your category is so deeply diverted that some of you offer discount commission, flat commission or none commission at all (if they do not do the job!!).
there is your problem..if all agents were honest and professional each others you would not have problems, do you?

Ever heard the old saying Real estate agent are cheaters?
0 votes
Scott Godzyk, Agent, Manchester, NH
Fri Feb 22, 2013
You need to do a better job in interviewing an agent to choose the right one. You get what you pay for , so if you want an agent who is not locked into working for you because you are not exclusive to them, you may not be getting 100% of their effort or time. Most agents would just a soon end a contract with an unhappy buyer who wants to end a contract then be miserable for its length,.
0 votes
I may not get the 100% because you people are dishonest!
Flag Fri Feb 22, 2013
Mack McCoy, Agent, Seattle, WA
Fri Feb 22, 2013
If you've ever sold property, Gp, you'll know that we have Exclusive Listing Agreements with sellers, and we also have "non-exclusive," or "open" listing agreements with sellers.

The difference is that we don't really "work" our "open" listing agreements - we don't market the property or search for buyers; similarly, when we have buyers who want to work with other agents, we're not actively looking for deals for them - we're more likely to try to sell them our "open" listings.

At the end of the story, Gp, a client is valuable to a broker, a "lead" or a "prospect" isn't so much. If a broker comes across a good deal, they're going to call up their "clients" before they call up their "leads" or "prospects."

All the best,
0 votes
Mack we are not talking of me..I sold many properties..absolutely by my self with no one problem at all!
in the and a broker is valuable to a buyer or a seller only if he is very good, professional and honest..and he doesn't need an agreement to be like this!
Flag Fri Feb 22, 2013
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Fri Feb 22, 2013
Well said Steve. You hit the nail on the head. I rarely use these contracts, but when it is clear that the buyer is going to want to see dozens of properties, then it is good protection to make sure I get paid for my work if they do decide to buy.
0 votes
I will tell you the true..that everybody out there already know but..yes it is not pretty at all!
who are completely void of integrity is your category!
why in the world one customer would waste time with one agent and after buy with another? did you answer this question?
I'll tell you why..it because he cares of his own interests! that all!
Your category is so deeply diverted that some of you offer discount commission, flat commission or none commission at all (if they do not do the job!!).
there is your problem..if all agents were honest and professional each others you would not have problems, do you?
Flag Fri Feb 22, 2013
Jennifer Fiv…, Agent, Red Hook, NY
Thu Feb 21, 2013
An exclusive Buyer agency is a commitment between both parties. In the agreement you would specify expectation of both parties, and if these are not met then there should be a clause to part ways. By having this agreement you will have full representation. This is the only way I will work with buyers because I don't want to spend my time working with someone who won't think twice about buying a property with someone else without any regards for the time I invested.
During the discussion of the agreement the potential buyer is told I will represent their interest with FSBO, so if they see one, give me the information and I will investigate.
0 votes
I do not want to waste my time nether with unprofessional and lazy agent!
you can always sigh an agreement for all the properties you show to your buyer.. why should I waste my time with agent that, most of the time do not even know about properties not listed or maybe doesn't care about small investor?
do you realize how many useless agent are around?
Flag Thu Feb 21, 2013
Brian Mahoney, , Orlando, FL
Thu Feb 21, 2013
Depends on what you are looking to do with real estate. Invest, first time home buyer, 2nd or move up home etc.
That is why you would "interview" a few agents, sometimes even more, to get the right one that fits your needs. Then make your decision and go with a qualified agent. Contracts are there so everyone knows what the other party is supposed to be doing and is responsible for.


Just as if you were to renovate your home, the process is identical and for good reason.

There is a lot that is done behind the scenes to assist you with the purchase and a good agent will cover all this and more on your first meeting.

Discussing your mortgage and purchase options at the very beginning and putting you in contact with good lenders to choose from. If you are paying cash, we skip past that step and get right into the PP. The we discuss purchase price, down payments and type, size, and area of where you want to live or invest. I then sending you properties, discussing details of each, arranging showings, making offers(usually more than one) negotiating your transaction, keeping track of the timelines and inspection periods, re-negotiate after inspections if needed, follow up with lenders and title company to keep everyone performing on their end of the transaction.These are just a few things a good Realtor is supposed to do for their clients, I do.

I hope this was helpful and hope we can sit down and discuss all of this in more detail at your convenience.
I am always available, 7 days a week so feel free to contact me anytime.

Brian Mahoney
Re/Max
Orlando

848-448-0333 Diect & Text

http://www.orlandodreamliving.com --Visit


downtownremax@gmail.com --Email
0 votes
Linda Jokben…, Agent, Orlando, FL
Thu Feb 21, 2013
That was a great answer Danielle.
0 votes
which one? the one where you do not wanna waste your time doing the job you choose..or the one where you make you buyer wasting his/her?
Flag Thu Feb 21, 2013
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