patrick.net

Realtors Are Liars.

Andy S says

So it just goes to show that they are still up to there old tricks, of lying to perspective buyers in an effort to up the price.

While it's certainly possible that's what happened, I highly doubt it. It makes no sense... The agent would be far better off having one offer than zero offers because at least they have a chance of getting paid. Believe me, a bird-in-the-hand is worth a lot in this market.

It's more likely that they did get an offer, but it died in negotiation. I've personally represented banks with REOs where they reject an offer one day, then lower the price down to at or even below the offer price a few weeks later.

For what it's worth, agents are far more likely to exaggerate the level of interest, than to lie about the actual number of offers in hand. For example, "there are 3 or 4 parties very seriously considering submitting an offer".

I showed a house yesterday. It was a short sale with a realistic price. The secretary who arranged the appointment told me it was being shown a lot. She squeezed us in. Sure enough, there was another Realtor waiting with her clients on the sidewalk for me and my folks to finish looking. The place went under contract later that day.

Transactions break all the time. A no today doesn't mean a no tomorrow and it looks like this is the case. Go see what's up.
Andy S says

As a side note the property is a piece of shit that needs a total upgrade from the 1997s decor.

So what? Do you still want the house?

Nomograph says

Wrong. The agent has a vested interest in selling the property, not upping the price.
You are being WAY to emotional; remember this is a business transaction.

Nomo, talk about a realtor in sheep clothing! Its pretty clear by your comments you have a huge vested interest as a REA.

Nomo a Realtor? I imagine his mother introduces him as "my son, the realtor." It's probably how he caught Mrs. Nomo, too, because the earning potential is so great.

Well, that and his sparkling personality.

If it was a business transation, we would have greater transparency.... Dont tell me.. Show me.. I want to see verifable evidence of your assertions.

Will the house be worth 500K if gasoline is 10 bucks per gallon?

In other words, can you still get to where you need to be from that house without gasoline-powered transport?

Do your skills let you work from home?

Do you like the neighbors enough to cooperate with them for community security?

gregpfielding says

While it's certainly possible that's what happened, I highly doubt it.

Wouldn't you think it would be a great system to remove all this doubt and unjustified trust we need to put into people that we pay for this transaction? There is no business int the world (except illegal I guess) that has such a lack of accountability. Realtors can say anything, and they will. When there is no accountability the masses of people drop to the lowest common denominator. You want to witness it, then remove the police from the community for a month and see what happens. We are bloody animals, plain and simple. Empathy is only possible because of accountability, it is not inherent to us all. Some people have it, are either born with it or learn it. Others, though, just don't give a crap. The minute you have a small group of unaccountable people prospering in a business you have everyone. Just the law of nature.

You don't believe me. Compare driving in your car to walking on the sidewalk. In the car people are down right mean. They run up your bumper, they cut you off for game. They know all you can do is throw a jester their way. On the sidewalk you never see anyone brush your shoulder, cut in front of you purposely. If they did you would be right there to make them accountable. Such is the nature of the beast. Unless there is transparency Realtors will act as they do. They will lie, to say they don't is just foolish on the other side. It is similar to saying no one break the rules on the freeway. Without police almost everyone will speed, will exhibit road rage, etc. We are animals! Always. We only get along because we are forced to. The small percentage of good soul are out there, but they are small. When you meet them you see it right away. They didn't need fear of religion or fear of jail time to be a role model. They just are.

There are good apples and bad apples.

It appears that bank owned properties are owned by the seller real estate agent and they want to represent both the seller and the buyer because of the 5-6%.

I had made an appointment to go to my real estate agent office to place an offer for a property and on the day of my appointment, I received an email that the property was no longer available!

Here is question: Is it permitted for a seller real estate agent of a bank owned property, to sell the property to someone who s/he knows?

johnnny says

Here is question: Is it permitted for a seller real estate agent of a bank owned property, to sell the property to someone who s/he knows?

Who is checking? NAR? The realtor's company? You? The FBI? None, absolutely no accountability I tell yah. I wonder if anything actually happens if the realtor decides to buy the property. Probably not. It is basically insider trading and maybe the SEC should oversee this crap.

Two agents from the same company showed us houses this year. One said "prices are going up." The other said "prices are inflated but are going to come down more." Guess which one will probably get the commission if/when we eventually buy, (because we are not overpaying, period)? Overall, the one that admitted prices were inflated elaborated on why. We talked about the foreclosures and the banks holding them back, that there's more to come, etc. She seemed to really know what was going on. The first one that just regurgitated the industry mantra, "prices are going up," either didn't know jack, or was lying. We have a number in mind with each house as far as what it is worth to us. Our home inspector may find things that lower that number, assuming we find a house we're serious enough about to give him a call rather than pass on by. If the seller/bank won't take what we offer, they will lose the sale.

RentingForHalfTheCost says

You want to witness it, then remove the police from the community for a month and see what happens. We are bloody animals, plain and simple. Empathy is only possible because of accountability, it is not inherent to us all. Some people have it, are either born with it or learn it. Others, though, just don't give a crap. The minute you have a small group of unaccountable people prospering in a business you have everyone. Just the law of nature.

Well said. Christianity called it "original sin." It's the one Christian doctrine that CAN be empirically verified on a daily basis. I can't seem to find Jesus sitting at the Right Hand of God The Father when I look through a telescope. And I can't find that flaming sword gaurding the Garden of Eden anywhere on Google Earth. But I sure as Hell can watch the news.

RentingForHalfTheCost says

They know all you can do is throw a jester their way.

Except jesters don't like being thrown out of car windows at high speeds. You really have to push them hard!

wthrfrk80 says

They know all you can do is throw a jester their way.

Except jesters don't like being thrown out of car windows at high speeds. You really have to push them hard!

Got me. A jester would be more effective than a gesture. :)

RentingForHalfTheCost says

Got me. A jester would be more effective than a gesture. :)

Sorry. I couldn't resist that one! ;-)