patrick.net

wthrfrk80 says

Realtors are Liars.

(sorry, I couldn't resist)

+1

Nomograph says

Sounds like you either got outbid or someone else presented a stronger offer (i.e. all cash or bigger downpayment).

This is the way business works. Frankly, she sounds like the kind of agent you want on your side. The kind of agent you DON'T want is one who shows the other side all your cards.

No this is not the way the business works. I wouldn't want to be on her side. A cheat is a cheat. She would never work in your interest.

Offcourse she got a higher offer but then she should not have said that we have accepted our offer. She should have said that "WE WILL REVIEW YOUR OFFER ON SUNDAY".
Getting outbid is not new or something that happened to me for the first time.

interesting story here, have same sort of sitch going in SLC

anyone have suggestions for a 'sure fire' way to get out of a buyer's agent contract?

with the jerk we've been dealing with, my sense is that i cant trust a word that comes out of his mouth - it started with the statement "in all my years in RE (all 9 of em, apparently) there's never been a better time to buy"

i mean really - havent they all been saying this like forever?
(esp since 2007, even more emphatically during the tax credit boondoggle a couple years back)

how do i get out of the buyer's agent contract?
would sooner pass up the chance of a 'buy of a lifetime' than see this jerk collect a dime on a commission

any help or ideas on this greatly appreciated - am sure this topic is of interest to lots of others lurking here at pats place (best source of RE knowledge seen anywhere online)

I agree with Nomo. This is the way the system works. Sure, she may have "accepted" your offer, but obviously she accepted a few others as well. You don't say whether or not you had written a check for the realtor to show ernest money either. It sounds like this realtor is taking the best offer she can get for her client and that's what she's supposed to do. From reading your rant above it sounds like this is your first house buying experience, so maybe this will have you more prepared if you decide to make another offer in the future. The one with the most cash, least contingencies, shortest escrow wins, and that's how I play the RE game.

Your first mistake was to believe what she was saying. I mean,you are so naive.

lurking says

I agree with Nomo. This is the way the system works. Sure, she may have "accepted" your offer, but obviously she accepted a few others as well. You don't say whether or not you had written a check for the realtor to show ernest money either. It sounds like this realtor is taking the best offer she can get for her client and that's what she's supposed to do. From reading your rant above it sounds like this is your first house buying experience so maybe this will have you more prepared if you decide to make another offer. The one with the most cash, least contingencies, shortest escrow wins and that's how I play the RE game.

Lurking, I would disagree. She is a cheat. Taking best offer is understandable. That is her right and in the best interest of her client. But if you read my post clearly, she DID NOT say that she will be reviewing the offers. She told us that ours was the only and the best offer and they have ACCEPTED IT. I had even given the check for earnest money. She kept us in dark on purpose while accepting and waiting for offers.
I have made other offers as well and agents never did this. They tell they have other offers and they will review offers on such and such date. I have lost bids many times. So it is not new to me. What she did shows her character.

bubblesitter says

Your first mistake was to believe what she was saying. I mean,you are so naive.

You are right. Probably my mistake but when she kept saying "she is sending the contract anytime" and did not send, I had suspicion on her motives...

69c3 says

how do i get out of the buyer's agent contract?

You should consult a lawyer for a "sure fire" way to get out of a contract, and with that said and out of the way, I'm assuming that you have an interest rate lock and an inspection contingency. You need to read the contingency language very carefully to double check what you and your realtor put in the contract. You may have put other items in contingency as well. Either one of these contract items are probably going to give you some sort of out. I have purchased many properties and just about every one of them either had some defect of some sort that needed to be repaired and that could have been an out per the contract, but I always went through with the purchase anyway because I liked the property and it was a fair deal.

Well this is the outcome of using a buyers agent.
Next time contact listing agent directly so they can flush the other offers in order to double dip commission. Its SOP in RE to do this.
They WILL let a buyer with a buyers agent buy thier listing (the owner doesnt own the listing the agent does, its in the listing contract) but this will happen if there are zero other offers AND/OR its a high offer.

Live and learn.

You want to buy something and add 3% to the price by including an extra unnecceary agent? You will have to pay at least 3% more.

PockyClipsNow says

Well this is the outcome of using a buyers agent.

Next time contact listing agent directly so they can flush the other offers (like they did yours) in order to double dip commission. Its SOP in RE to do this.

They WILL let a buyer with a buyers agent buy thier listing (the owner doesnt own the listing the agent does, its in the listing contract) but this will happen if there are zero other offers AND/OR its a high offer.

Live and learn.

You want to buy something and add 3% to the price by including an extra unnecceary agent? You will have to pay at least 3% more.

I understand what you are saying.
However even if the sellers agent is double ending that does not mean the buyer gets a good price and seller does not have to pay 6% commission!
To me it seems this agent did not even present our offer to the seller. She is not sending the signed cancellation which indicates that she may not have even shown my offer to her client. That is another shady practice... BTW our offer was very competitive.

Its true the seller is on the hook for the full 6% regardless of a dual agency situation or not normally. This is why the listing agent will bend over backwards for thier own offer to get accepted.

Not returning calls, poo poohing the other offers to the seller (its a weak offer! not a serious buyer, they are playing games....etc) All this is legal as long as they actually submit all offers recieved to the seller (but if they 'didnt get your offer' how can you prove it?)

I learned the hard way using a buyers agent is dumb dumb dumb dumb. There is a high cost to this 'free taxi service' and you are now getting it.

PockyClipsNow says

Its true the seller is on the hook for the full 6% regardless of a dual agency situation or not normally. This is why the listing agent will bend over backwards for thier own offer to get accepted.

Not returning calls, poo poohing the other offers to the seller (its a weak offer! not a serious buyer, they are playing games....etc) All this is legal as long as they actually submit all offers recieved to the seller (but if they 'didnt get your offer' how can you prove it?)

I learned the hard way using a buyers agent is dumb dumb dumb dumb. There is a high cost to this 'free taxi service' and you are now getting it.

I got your point.
If she is not giving us the signed cancellation, tells me that she didn't even present our offer to the seller while telling us that they have accepted our offer.

You are probably right about not having a buyer agent, but I have one and I can't ditch him in the middle. I would feel bad for rest of my life for cheating him after *using* him for so long (Many months now) and then going with someone else. It is just not me.

Every week on this board the SAME ISSUE comes up about listing agent flushing offers. Sometimes they flush your offer even when you try to use them! (no doubt its a closer insider they trust more to close the deal). At any rate is getting to be like buying in a corrupt country like mexico or something around here - gotta bribe people to even 'get a chance to bid'. sad.

You seem like an honest person, good luck.

PockyClipsNow says

Every week on this board the SAME ISSUE comes up about listing agent flushing offers. Sometimes they flush your offer even when you try to use them! (no doubt its a closer insider they trust more to close the deal). At any rate is getting to be like buying in a corrupt country like mexico or something around here - gotta bribe people to even 'get a chance to bid'. sad.

You seem like an honest person, good luck.

It's because of the immigration problem.

This has been going on for awhile. When I go back to Ohio or Pennsylvania, I don't see it.

Whether you're buying a home or a car or anything else, it's there. We didn't have to deal with it because Danville is a small town and the realtor was a friend of the family who held the trust and also knew the guy who built the house. No weirdoes or filth, no drama queens, no shades of gray or mindfucking, etc. We offered and they accepted. Done.

The realtor for the other side told us if there's an Asian in the deal, nine times out of ten she'll let a deal go. They don't play by the same rules and when you call them on it they throw up some politically correct bullshit in your face. It's not worth it.

Nomo is correct.

And the system is stupid.

ANd having any need of an "agent" between owner, seller, escrow and bank is unexplained to me as of yet.

In the crowded parts of LA county (glendale, beach areas, westside) for years now about 40% or so of the home listings are shown by appointment with listing agent only. No lockbox. Supposdedly to prevent crime....in reality this is another roadbloack to prevent buyers agents getting in on it.

The listing agents wont return the call of a buyers agent to show the house..... thus no legal issues since there are no offers because they wont return calls. Or they will call you....a week later to say sorry i was out of town we are in escrow... They are only obligated to present all offer to the owner, NOT to return calls or show the house apparently....They got it all tied up you just have to accept it and play by thier rules.

Realtards only care about making money. The job description as it stands creates this problem. No accountability means all it takes is one bad realtard and you have an army of bad realtards. If realtors are reading this that think they are the exception then contact your association and demand more accountability. If you are honest then you want the dishonest realtards to be outed. Very similar to the TourDeFrance when all the riders boycotted the race when they busted Team Festina with loads of performance enhancing drugs. My conclusion: They are all cheats. If I was in the race and clean I would have been at the start line by myself if needed.

My realtard conclusion: They are all corrupt. Wear gloves when you shake their hands and take a long shower after every dealing.

http://agent.interorealestate.com/WebArticle.aspx?ID=6758&webPageID=15&webCategoryContentID=1

Here is all the things the lady Realtard can do for you. Wow.

I think Asian Realtors, be they listing or buyer, tend to be more bottom line focused. I'm sure she was looking at you as her next commission vs. really trying to help you.

IMHO anyway.

69c3 says

any help or ideas on this greatly appreciated - am sure this topic is of interest to lots of others lurking here at pats place (best source of RE knowledge seen anywhere online)

been there

Stop using the agent to show you houses.

Even if you have signed a contract with the buyer's agent, the agent who first shows you the house is entitled to the commission.

Go to open houses without the buyers agent, try to meet listing agents who fit you as a possible buyers agent.

There are realtors out there that do care about what you as the client are looking for and your needs, and its really hard to find them since the predators are so common.

Bought and sold in many locations and the Bay Area has I think 5 realtors per house, thats per house and not house on the market, so they have learned every last form of bad behavior.

Put your bids directly in mailboxes for the sellers to see, don't assume the seller's agent is working with you.

Never trust that they have good intentions or care about the outcome unless it financially benefits them.

People who go into that profession, usually, are not the best sort of people.

Comments on some of the things the Realtard can do for you as a so called "Buyers Agent".

•Guide you regarding the repairs that should be made.

What, Realtors are now experts in home construction?

•Help you spot sellers who are attempting to take advantage of you

I'm sure Realtards are good at that.

•Advise you as to when you should seek the advice of an attorney

Realtards are legal experts I'm sure.....

Total BS by the used house salesperson!!!!

jvolstad says

Comments on some of the things the Realtard can do for you as a so called "Buyers Agent".

•Guide you regarding the repairs that should be made.

What, Realtors are now experts in home construction?

•Help you spot sellers who are attempting to take advantage of you

I'm sure Realtards are good at that.

•Advise you as to when you should seek the advice of an attorney

Realtards are legal experts I'm sure.....

Total BS by the used house salesperson!!!!

The last one you should figure out yourself anyway. If you find yourself dealing with a realtard in any form, get yourself a lawyer on retainer. You have someone that you barely know asking for personal information on your savings, 401K, assets, expenses, etc. You should only share that information with the IRS and a bank. Share some of your self defense moves with the realtard and protect yourself from the coming abuse. Just like the commercial, scream at them, "IT IS MY MONEY, AND I WANT IT NOW". Tell the realtard to go get his/her own money.

ov.A realtor and her eye doctor husband signed an agreement of sale with my 88 year old dementia husband I.they wanted the house by the end of December.We quickly gave our
furniture from our two story home to an auction at a great loss'We were out of our home by Nov 10th .The realtor backed out of the sale.The sale of our home would have paid for our Senior apartment.whenthe realtor backed out we had legal complications and financial losses which ran into thousands of dollars.it was very damaging financially and phycically

PockyClipsNow says

In the crowded parts of LA county (glendale, beach areas, westside) for years now about 40% or so of the home listings are shown by appointment with listing agent only. No lockbox. Supposdedly to prevent crime....in reality this is another roadbloack to prevent buyers agents getting in on it.

The listing agents wont return the call of a buyers agent to show the house..... thus no legal issues since there are no offers because they wont return calls. Or they will call you....a week later to say sorry i was out of town we are in escrow... They are only obligated to present all offer to the owner, NOT to return calls or show the house apparently....They got it all tied up you just have to accept it and play by thier rules.

I actually had an agent tell me he would not show a house to me if I had an agent. He wanted my agent to drive all the way from San Ramon to Santa Cruz to unlock the door for me. I should have contacted the owner of the house to tell him what sort of agent he had working for him. Next time I will do this. I'm not going to let them get away with their garbage anymore. And any offer I put in will be followed up by a DM, mail or call to the owner. Unless they are somehow anonymous, you can get this information.

I like that AF never forgets the branded (R) - shows love for the detail in the hate for realtors.

realitycheck says

dishonest realtor

oxymoron.
And besides, it Realtor® - OK?

PockyClipsNow says

I learned the hard way using a buyers agent is dumb dumb dumb dumb. There is a high cost to this 'free taxi service' and you are now getting it.

I agree. A 6% commission is a great/er motivator. On a 100k house a 3% commission minus the split with the broker nets both of them $1500 each. Chump change.

This doesn't seem atypical. I see this ALL the time. From the the listing agent perspective agent, she has done her job by listing the property. Realtors have THREE objectives: 1) Controlling the market by getting a listing agreement. 2) Selling the property at the absolute highest price possible, UNLESS they or one of their cronies is making an offer to buy it for themselves at a BIG discount and 3) Making the largest commission possible by ANY MEANS necessary. It's as simple as that! There are no rules that say a Realtor must be polite, return calls, tell the truth or act like anything other than a rattle snake waiting to strike.

I can offer you several reasons for her behavior. She may have found her own buyer and doesn't want to split the commission. Her buyer can make a lower offer and still be accepted by her seller. Listen to the words of these con artists "Highest and Best" DOES NOT MEAN HIGHEST. Maybe a contingency or the fact that she may have to split a commission may make HER secret buyers offer be the "best" offer?

investor90 says

Boy oh Boy oh boy THE LIES of both listing agent and buyers agents. She kept notes...I learned that my buyers agent ALSO LIED.

What lies were you and the seller told? You're leaving out the most important part of the story! :)

Are people still using buyer's agents these days? Too funny, lol.

Efficient Life Church says

investor90 says

Boy oh Boy oh boy THE LIES of both listing agent and buyers agents. She kept notes...I learned that my buyers agent ALSO LIED.

What lies were you and the seller told? You're leaving out the most important part of the story! :)

Okay, we have interviewed over 50 Realtors and vetted them all before we selected this last one to represent US as buyers HONESTLY.

The Seller told us ALMOST EVERY personal detail about our lives. NONE OF ANYONES business. All about our jobs, our hobbies, interests, where we vacation....etc etc etc. Where we live and more.

Our loan was PRE - APPROVED by several banks. We could have paid cash for the house if we wanted....but that only GOES AGAINST our bargaining ability for the seller or listing agent to know that fact. This may explain why I had do do most of the work, writing the offer---our broker told me I was "wrong".....and my offer TOO LOW...also My offer would insult the seller......How does one insult a deadbeat mortgage debtor ( owner?) who hasn't made a payment in 12 months?

My due diligence found that one of the sellers was a CONVICTED CHILD RAPIST....no address on the house and no mail box in front was the clue.. WHY? But he NEVER let on that we knew there was a pervert and convicted child rapist selling the house===In California ( San Francisco is prime for this pedophile behavior) it is NOT required to notify the buyer that a child rapist is selling the house. Want more?

I think it places a STIGMA on the house. Which rooms were used for the torture and rape abuse of the children? Welcome to California where child rapists---that was the PC code definition for the rapist...have MORE RIGHTS ....we don't want them to have low self esteem? So make everyone else the victims. Our agent GOT MAD when I found the sellers name on the Meganslaw website. All buyers should carefully check this site if they feel threatened.

"Did you not expect a Realtor® to be palling around with child rapists?"

Love it ... no kidding. Just saw an ex-relative and real estate agent in Louisville is trying to dump not only her personal residence, but also her income properties. (All the time, of course, telling her clients "It's time to buy".

She's trying to "hide" the sale of the income properties by listing them with ANOTHER agency. What does this tell you about the National Association of Rodents?