---------------------------------------------------------------------------------
Good Realtor, Bad Realtors
View PDF | Print View
by: BryanCole
Total views: 42
Word Count: 469
There is definitely one positive thing that has come out of the housing market being in the gutter, and that would be the fact that a lot of bad agents have been weeded out. The better news for you is that if you are in the market right now, chances are that you will be able to find a very knowledgeable agent to represent you. In the past agents typically did a lot of their work in an office setting, and these days they need to be out doing the legwork to satisfy their clients. But though there are now more few and far between, be sure to avoid less experienced realtors.
There are still people out there looking to make an extra buck, and are only part time agents. The clerk at the gas station may take on a client or two for some extra money. Even the utility worker can claim he is a full time agent, when he's not. When this type of deception is going on, it is not beneficial for the buyer or seller at all.
Obviously, the market has changed quite drastically over the last few years, and business doesn't operate the way it used to. Bank owned properties make up 10% of the inventory and 40% of all the sales in my home town. If you find yourself involved with a realtor that is not on the up and up when it comes to REO's and short sales, you may find yourself in not so good of a situation.
Here is an example of a predicament one of my clients was recently involved in. The clients I had been working with made an offer in escrow with a bank that was out of our area. We held up our part and followed all instructions that we were supposed to, while waiting for the escrow to be opened. With the last 20 sales that I have worked on with bank owned properties, there has always been an issue opening the escrow.
To make a long story short, after weeks of no response to my pressings, the bank finally admitted to me that they had accidentally filed the paperwork with the wrong office. And to add insult, they suggested that we could still be liable for the delay. I turned it all around, but some people are just gone terrible with details. I think I am getting too old for this business!
If I had not had any experience with this sort of scenario, I might not have caught the mix up in time. Someone who works in the industry part-time can cost their client a lot of money in these situations. Be sure you enlist the services of someone who has worked in their field for quite some time and can offer you added protection in your home-buying.
About the Author
Author B. Cole is a professional realtor and an expert in luxury realty. He is in fact one of the most respected realtors in his field.
Rating: Not yet rated