Xameil Posted January 28, 2016 Share Posted January 28, 2016 I had a different relationship with my agent. She was my selilng agent. And buyuing agent. She worked hard to sell my house. took 5 months. She put up with us throughout the whole process too. Which wasn't easy. She was my agent on buying the foreclosed property. She also worked her ass off on that deal. The selling agent was a POS on that property though. She wouldn't return calls or emails. Basically, the bank did all the work, and she got commission on it. Shame. This is an ideal situation. We weren't selling tho, otherwise we would have probably done the same thing. Link to comment Share on other sites More sharing options...
tshile Posted January 28, 2016 Share Posted January 28, 2016 Yeah I haven't had to get a selling agent yet. Soon. Hopefully that'll go much better than buying. So far I've had a friend agent that tried to screw us over by lying to us. An idiot agent that didn't know the first thing about houses. My wife would just sit there staring at her as she spoke, amazed at how dumb she was. This guy is just lazy (or has something else going on, or is just not interested in selling this property that much. i know they're not happy with the price we got them down to...) Link to comment Share on other sites More sharing options...
Xameil Posted January 28, 2016 Share Posted January 28, 2016 Yeah I haven't had to get a selling agent yet. Soon. Hopefully that'll go much better than buying. So far I've had a friend agent that tried to screw us over by lying to us. An idiot agent that didn't know the first thing about houses. My wife would just sit there staring at her as she spoke, amazed at how dumb she was. This guy is just lazy (or has something else going on, or is just not interested in selling this property that much. i know they're not happy with the price we got them down to...) Wow...3 strikes... Every agent I've ever worked with have been great Link to comment Share on other sites More sharing options...
Chew Posted January 28, 2016 Share Posted January 28, 2016 I enjoy these real estate convos. Lot to learn from each other's experiences. ES FTW (as usual). Link to comment Share on other sites More sharing options...
Xameil Posted January 28, 2016 Share Posted January 28, 2016 My friend's friend is a broker... for lenders... Agents, that I was talking about, have to do with my experience with them. (and also most people I know who've had to deal with them.) So your entire argument for not using the selling agent is that they will not help you negotiate the price? Is that really it? Let's see...price, contracts, motivation, inspections..all things that a sellar would look out for the the sellar over the buyer. Do a little research and you'd see that lesson 1 of buying a house...don't use the sellars agent Link to comment Share on other sites More sharing options...
tshile Posted January 28, 2016 Share Posted January 28, 2016 Let's see...price, contracts, motivation, inspections..all things that a sellar would look out for the the sellar over the buyer. Do a little research and you'd see that lesson 1 of buying a house...don't use the sellars agent Yes, if you are unaware of those things and not capable of understanding what is a good or bad deal for yourself then I could see that. Though I would argue if you don't understand that stuff you're not ready to purchase a house yet. Putting faith in some agent you don't know doesn't sound very smart, and goes back to what I was saying earlier. The people who don't actually know what they should do seem to keep this bogus system going round and round. You wouldn't see it every level all the time if it wasn't working well for them. Link to comment Share on other sites More sharing options...
Xameil Posted January 28, 2016 Share Posted January 28, 2016 Yes, if you are unaware of those things and not capable of understanding what is a good or bad deal for yourself then I could see that. Though I would argue if you don't understand that stuff you're not ready to purchase a house yet. Putting faith in some agent you don't know doesn't sound very smart, and goes back to what I was saying earlier. The people who don't actually know what they should do seem to keep this bogus system going round and round. You wouldn't see it every level all the time if it wasn't working well for them. Whether you are aware of it or not, it is always better to get someone is is better trained then you are, and who do this daily to get another set of eyes on things. Sorry I was unaware that you were a master if all things...I guess you're fine with doing it your way...except you must have had issues otherwise you wouldn't have posted about it in the first place.. Link to comment Share on other sites More sharing options...
jpage520 Posted January 28, 2016 Share Posted January 28, 2016 Stuff like this is exactly why I remain incredibly nervous about ever buying instead of renting. Don't get me wrong, I want to be a homeowner and it's a goal I plan to accomplish in the coming years. But it just seems like there is SO MUCH INVOLVED. Obviously when making a six figure purchase, you want to be detailed. But it just seems so nerve racking. Link to comment Share on other sites More sharing options...
Elessar78 Posted January 28, 2016 Share Posted January 28, 2016 This guy is just lazy (or has something else going on, or is just not interested in selling this property that much. i know they're not happy with the price we got them down to...) Maybe you've used up a lot of his time and he's losing money on you guys? On a typical transaction, one agent comes away with 1.5%, so on a 500K deal, that's only $7500 and he still has to pay taxes out of that. My accountant advises me to keep 30% of gross in reserve for taxes, so that's only $5K he's netting. So while there are extensive negotiations over sales price he's losing money. There's a lot written about agents and that their incentive is more to get the house sold quickly rather than get seller highest price or buyer lowest price. Link to comment Share on other sites More sharing options...
jpage520 Posted January 28, 2016 Share Posted January 28, 2016 I watched what my parents went through selling their first house as a kid (market was terrible, basement started flooding right before they put it on the market so every rain was a traumatic experience) and it had a really strong affect on me. Link to comment Share on other sites More sharing options...
rictus58 Posted January 28, 2016 Share Posted January 28, 2016 For the life of me, I can't understand why Tshile has earned himself a poor reputation on this board. Link to comment Share on other sites More sharing options...
Xameil Posted January 28, 2016 Share Posted January 28, 2016 Stuff like this is exactly why I remain incredibly nervous about ever buying instead of renting. Don't get me wrong, I want to be a homeowner and it's a goal I plan to accomplish in the coming years. But it just seems like there is SO MUCH INVOLVED. Obviously when making a six figure purchase, you want to be detailed. But it just seems so nerve racking. It honestly is no big deal....the signing of all the paperwork at the end is kinda nerve wracking, but if you do it right, find a good agent, then the whole process is kinda painless. I would recommend always staying on top of everything tho with the agent, banks, and Lawyers. But then again I am a type A, so making sure everything was moving on my time line was important to me Link to comment Share on other sites More sharing options...
Dont Taze Me Bro Posted January 28, 2016 Share Posted January 28, 2016 Internet fight over agents talk! Link to comment Share on other sites More sharing options...
Elessar78 Posted January 28, 2016 Share Posted January 28, 2016 I watched what my parents went through selling their first house as a kid (market was terrible, basement started flooding right before they put it on the market so every rain was a traumatic experience) and it had a really strong affect on me. It's really not that bad. Do research years in advance and you still won't know everything. But you'll be more prepared for it. I did a lot of research and our purchase went very smoothly, but I already have a list of things I would see/look for the next time we buy a house. Life is a learning experience—you'll rarely hit a homerun your first time out. Whatever you do, don't opt out of a home inspection. Work ahead and find a home inspector yourself and not one recommended by your agent—if he gets business through your agent then he's more likely to look out for repeat business than making sure your house is what you're paying for. There are nightmare stories of people who don't get a home inspection. Link to comment Share on other sites More sharing options...
Chew Posted January 28, 2016 Share Posted January 28, 2016 But then again I am a type A, so making sure everything was moving on my time line was important to me As you should be! It's the biggest investment/sale you'll make in your life, bammas better be on top of everything! To them it's just another day at the job. E-mails, phone calls, analyzing. Meanwhile Xameil and Chew are sitting at home, waiting for the phone to ring with updates. "Do your job!" Link to comment Share on other sites More sharing options...
rictus58 Posted January 28, 2016 Share Posted January 28, 2016 Where's KB? Did his illiterate vagrant eat him during the eviction process? Link to comment Share on other sites More sharing options...
Xameil Posted January 28, 2016 Share Posted January 28, 2016 It's really not that bad. Do research years in advance and you still won't know everything. But you'll be more prepared for it. I did a lot of research and our purchase went very smoothly, but I already have a list of things I would see/look for the next time we buy a house. Life is a learning experience—you'll rarely hit a homerun your first time out. Whatever you do, don't opt out of a home inspection. Work ahead and find a home inspector yourself and not one recommended by your agent—if he gets business through your agent then he's more likely to look out for repeat business than making sure your house is what you're paying for. There are nightmare stories of people who don't get a home inspection. We got extremely lucky. Our agent gave us contacts to talk to about loan and inspection. Both worked out better then what we found. The inspector went through with a fine tooth comb so we could get as many deductions off the price as possible. It resulted in the sellar meeting with us before hand to talk about all the inspectors findings. We got an entire history of the house and what all the light switches control. Because as any home buyer knows....there is always 1 switch that you have no idea what it turns on and off... As you should be! It's the biggest investment/sale you'll make in your life, bammas better be on top of everything! To them it's just another day at the job. E-mails, phone calls, analyzing. Meanwhile Xameil and Chew are sitting at home, waiting for the phone to ring with updates. "Do your job!" :cheers: I emailed them all almost daily Took a little over a month to get it completed from the day we saw the house until closing Link to comment Share on other sites More sharing options...
jpage520 Posted January 28, 2016 Share Posted January 28, 2016 We're actually in the moving process as we speak. Getting out of our first place, a one bedroom section 8 apartment in a not so great neighborhood(All we could afford), and moving into a townhouse this weekend. In the recent months, while looking for the new place, the wife and I have watched a ton of HGTV and DiY just to get ideas on things. Trust me, if there is anything watching that corny stuff has taught me, it's get a home inspection and get it done by a damn good one that you trust. Lol That stuff has scarred me now to believe that any house I buy is gonna be a death trap. Link to comment Share on other sites More sharing options...
Elessar78 Posted January 28, 2016 Share Posted January 28, 2016 As you should be! It's the biggest investment/sale you'll make in your life, bammas better be on top of everything! False! Choosing a wife is the biggest investment. Link to comment Share on other sites More sharing options...
Chew Posted January 28, 2016 Share Posted January 28, 2016 False! Choosing a wife is the biggest investment. Yeah, but you can swap those out pretty easy Link to comment Share on other sites More sharing options...
Elessar78 Posted January 28, 2016 Share Posted January 28, 2016 Yeah, but you can swap those out pretty easy The cost, Bro-wyer Milloy. The cost. They'll bleed ya. Link to comment Share on other sites More sharing options...
daveakl Posted January 28, 2016 Share Posted January 28, 2016 When will they know which one it is? Hopefully by Friday Link to comment Share on other sites More sharing options...
daveakl Posted January 28, 2016 Share Posted January 28, 2016 Realtors and agents are just like lawyers, painters, teachers, mechanics, and qbs.Some are good, some are bad, some are white, some are black (but those we just put down when they start to get successful and uppity).Oh, and when using the selling agent to help you purchase the house, make them become a duel agent so that they can't keep anything from you. If they can't offer that and their firm can't appoint an agent to represent you then walk into any real estate office close by and say you are ready to make an offer on a specific home today and need a buyers agent that Wil work hard for you. You'll know which one to choose. crap, forgot the hashtag #imnotracist Link to comment Share on other sites More sharing options...
tshile Posted January 28, 2016 Share Posted January 28, 2016 Sorry I was unaware that you were a master if all things...I guess you're fine with doing it your way...except you must have had issues otherwise you wouldn't have posted about it in the first place.. Hah, sorry it chapped your ass that I'm not in any way surprised with your list of reasons why you should get your own buying agent. But sure, master of all things. I'll take that. The issue is motivation. Which I admitted. However, now that Dominion has called me back, it's all wrapped up. It required a little more work than it was supposed to. Not a big deal. I didn't need a buying agent to tell me the selling agent is only interested in selling for as high as possible (heh, the buying agent doesn't mind that either), or that the contract should be written in a way that suites my needs and leaves me an out. But I suppose if you're not going to do your own research, have no experience in it, and don't have anyone to guide you trusting a random person you found in an internet search is better than trusting the selling agent. Link to comment Share on other sites More sharing options...
tshile Posted January 28, 2016 Share Posted January 28, 2016 Stuff like this is exactly why I remain incredibly nervous about ever buying instead of renting. Don't get me wrong, I want to be a homeowner and it's a goal I plan to accomplish in the coming years. But it just seems like there is SO MUCH INVOLVED. Obviously when making a six figure purchase, you want to be detailed. But it just seems so nerve racking. Just make sure you read and understand everything you sign. Don't be one of these people that has to explain a bad situation by saying - I didn't know I agreed to that... Maybe you've used up a lot of his time and he's losing money on you guys? It's all been done over email and a few phone calls. He's the seller and the selling agent. So it's not like he's an actual middleman. Other than filling out the contract, he hasn't really done any work. That's the problem. I came to him with a cash offer and very few contingencies (it's vacant land, there's only so much you can want.) The only things he had to do was draft the contract, call Columbia and Dominion and get them to tell us how they would run service and what fees would be associated with it. He had already submitted the peculation paperwork to the county, so even though we also wanted that there was nothing for him to actually do at that point. Part of me thinks he's just not thrilled about the sale price. He priced it to sell quick, and we got him to come down off that. We're not getting that great of a deal, and he's still making good money, but he could easily get more for it if the market was just a tad bit better for vacant land right now. So I feel like he has no incentive to actually make things happen. Also the snow has kind of jacked things up. For the life of me, I can't understand why Tshile has earned himself a poor reputation on this board. Ouch Link to comment Share on other sites More sharing options...
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