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Overheard - contributed by njlistener on 06/18/2007 Realtor SchmealtorWoman-Client: You said there was going to be a bidding war. Real Estate Broker: I did not say war... Woman-Client: You said we should bid the ask or we'd lose it. RE Broker: I said, if it were me, I'd bid the ask. Woman-Client: There was no war. Nobody else was interested. You knew that. RE Broker: You're upset. Woman-Client: You lied, we overpaid. Yea, I'm upset. RE Broker: I hear your feelings... Woman-Client: Screw my feelings. You owe me $75,000. --Overheard in: Starbucks, North NJ-- Some independent surveys find real estate brokers held in lower esteem than lawyers (now, there's an achievement!) and meter maids (who knew meter maids were so lowly regarded; their hats are cute, aren't they?). Why do so many brokers act so badly? We don't know. But we did ask a bunch of former brokers in our area what they thought. Every one agreed: too many act badly -- in self-interest, concealing or twisting facts, focusing more on their needs than their clients'. Why, we asked? Because, they said, it's an inherently cut-throat, sometimes vicious business and sales culture. Brokers are given little, if any, training. They're thrown out there largely on their own to make it or not. In a contracting housing market, behavior is naturally going to get ugly. The former brokers spoke of mistrusting most of their former colleagues. Some said they couldn't leave listings open on their desks for fear they'd be stolen. Some colleagues routinely listened in (or tried to) on their calls with clients. Some, especially more experienced ones, stole wavering clients. Few, they said, provided real support or even benevolent neglect. Our take? Anybody can become a broker. That guy on your block who didn't graduate middle school and has been playing with 8-tracks for the last 15 years in his parents' basement -- an excellent candidate! (OK, maybe we exaggerate, a little.) In fact, big realtor agencies are filled with unprofessional, untrained "dabblers" who have no real clue what they're doing and no modeling of appropriate standards from peers. Yes, actual "realtors" have to get trained and licensed to join the national or state realty organizations. But, guess what: their training (despite what they claim) is limited -- lawyers go to school for 3 years, and look how they turn out! -- and most people who sell houses aren't licensed realtors anyway... they're just part of the agencies' mill, stay-at-home moms and dads, people in transition, people experimenting with new careers, escaping corporate life, on sabbatical, rehab-release, whatever. Our own experience with brokers mirrors the negative clichés. Recently we started looking to buy a house. We "experienced" several brokers -- and, after 6 weeks, we paused, mostly because we couldn't take the nonsense anymore. We needed what many call a "broker vacation." Apart from the usual showing of houses that weren't in the same galaxy of the type we insisted we wanted ("uh, guess what, that windowless Tudor with the dungeon isn't quite what we meant when we said, "airy colonial")...it was the constant nonsensical spin and twisting of reality, and the intellectual laziness and stupidity, that did us in. A few of our "broker-stupidity" highlights?... A house we wanted and made an offer on, last minute turned out to have an oil tank buried in the front yard and (shock!) the tank was leaking oil profusely. Our Broker's Reaction: "It's a blessing. Now you know and you can have it cleaned up. It's a good thing, you're lucky." Our Reply: Are you an idiot? (Actually we used a less politically correct term, sorry, but we were angry; the word we used was, "retarded."). Our Radical POV: Finding a leaking oil tank in the yard, one that had already spread into 2 neighbors' yards, was really not a "blessing." It was a pain in the ass. And, all things being equal, we'd prefer not to buy a house that the state and federal EPA agencies would be investigating and testing for the next 2 years. A house loaded with asbestos. Our Broker: "You know, many people believe the dangers of asbestos have been greatly exaggerated?" Our Reply: Are you retarded? (Kidding, we didn't say that.) We Did Say: You mean the 3 brokers at your office who share your desk, those people have done the research and assessed that the asbestos risk is exaggerated? Guess what, we're not inclined to rely on them! A Victorian house, revealed (last second) to have no central AC: Broker: "The breeze from the attic will cool the house completely. That's how Victorians are, you don't need A.C." Our Response: But it's May and we're in the living room, and it feels like a sauna in here now. Broker's Counter: "But it's unusually hot for May." (Yea, you mean like summer, you dumb....) And so on . . . . We're not here to indict the industry. (Apparently those who used to be in it do a pretty good job of that.) But our experiences have almost consistently sucked. Marked by misinformation, disinformation, wasted time, silliness and, too often, sheer idiocy. We hope to get our house someday. And we'll probably use a broker. But it will probably be painful. And we'll have to take breaks. (We understand regular hydration is key.) And we'll have to try to be more tolerant and patient. And, we will definitely make our decisions on our own, as if our broker is pretty much not there. But that's just us.... What do you think?...overhear more --Overheard in: Starbucks, North NJ--   Another obvious lesson, - submitted by fairone on 06/18/2007
Another obvious lesson, right? Don't rely on brokers to make your decisions. Simple. Brokers are easy targets, often fairly. But the clients have to be grown ups and take responsibility too. "Brokers are easy - submitted by Anonymous on 06/18/2007
"Brokers are easy target". Yea because too many of them are creeps. I had a similar thing happen - submitted by pissed on 06/18/2007
I had a similar thing happen to me. Brokers were all saying the house was 'hot' and we better bid up. It was crazyh because the housen't wasn't special, we never saw crowds at the open houses. We refused to bid high and got it 10% below the ask. The broker came up with all kind of excuses but she knew it was bs. Have to use your instincts, that's my experience. I love real estate - submitted by Anonymous on 06/18/2007
I love real estate brokers. Kidding. The opposite!!! My husband is one, runs a realty and I love him (used to) but there have been moments when I thought he'd eat his young, our kids!, to close a deal. Ugly ugly. I just fired my broker. She - submitted by Anonymous on 06/18/2007
I just fired my broker. She was impossible, never shut up and never said anything worthwhile. I hate this! I'm never going to find a house. LOL More realtor bashing. Can't - submitted by perceptiveguy on 06/18/2007
More realtor bashing. Can't you find people more worthy? Like, I'm not sure. Aren't there torturers out there? Going around looking at - submitted by Anonymous on 06/18/2007
Going around looking at houses with my person IS torture. He doesn't hear a word I say and everything is fabulous according to him. If I listened to him, I'd have already bought a shack without a roof facing the highway for 2 million$. He's cute, though, otherwise I'd have dumped him the first hour. My next door neighbor was my - submitted by satisfiedcustomer on 06/19/2007
My next door neighbor was my broker in selling my house. Huge major mistake. We're no longer speaking. I hate her for being so nickel and dimey and bull crapping me, and now I'm hoping SHE'LL move, since at the end of our working together I never did sell my house. She told me I could get 375 for it, guaranteed no problem. Best offer was 250. No thank you! Either she's dumber than she looks or she was trying to hook me in to sell at any price. I know which. I hear stories like this all the time. It stinks. if i'm at a party and - submitted by Anonymous on 06/19/2007
if i'm at a party and somebody tells me she's a realtor, i walk away. that's how badly i think of them. i dated a couple realtors. i know what they do and what their values are. realtors rock & roll. i'm - submitted by Anonymous on 06/19/2007
realtors rock & roll. i'm married to one and he's made us a fortune! no complaints. lol HOOKERS rock & roll - submitted by Anonymous on 06/19/2007
hookers rock & roll. i'm married to one and She's made us a fortune! no complaints. lol realtors - submitted by Anonymous on 06/19/2007
I insisted that my house be priced according to accurate market research and comparables. I had my realtor take me to see the competition (similar homes) in the local area. We set the price. Within two weeks received an offer. These people came to the open house off the sign. That's funny -- realtors say houses rarely sell from holding open houses because they want to discourage you from selling it by owner. They insist they bring in the buyers. I digress. The offer was a lowball. I said absolutely not. Then the realtor said truthiness #2: "You know, the first offer you get is often the best." I held my ground. I knew my house was priced right and better than the competition. Got 96% of my asking price. The original lowball offer was about $100,000.00 less! And I can't talk about what the commission was. Too painful. That after basically doing the work myself. Grrr. Realtors not acting fair - submitted by Anonymous on 06/20/2007
I quite frankly do not know what town, city, state, or even country that posessed such bad real estate brokers. First of all, you have real estate salesperson and a real estate broker. To become a salesperson in Massachusetts you have to go to school, pass a rigourous test, and periodically take training classes to enrich your skills. To become a real estate broker, you've got to have the business background, go to school, take a more vigorous test (the average test takers failed the test at least three times), then take training classes on a regular basis to enrich your skills. I have read so many stories about bad real estate agents. However, we need to separate the bad apples (the few) from the good apple (the majority), then what state do these nighmarish circumstances came about. Not in my state! While your story was - submitted by Anonymous on 06/20/2007
While your story was partially true, you need to get a few facts straight. When you go out with a real estate agent, #1, they all have to be licensed in New York...no exceptions. #2, agents represent sellers not buyers. If you want an agent to warn you about that oil tank or lack of AC, find a buyer's broker. All realtors are sub agents of the seller...they reprsent the seller's interest and can't divulge any information. On the other hand, if you go with a seller's agent and tell the agent things like..we'll pay $75,000 more for the house but we'd like to low ball first...the agent is obligated to tell the seller or face the reality that they could lose their license. It's easy to cast brokers as villains without doing your homework. But, there are many of us who are honest, forthright, professional and do a great job. Like everything else you just have to shop around. Realtors in General - submitted by Meridiaman on 06/20/2007
My experience has been that it is very difficult to buy or sell a house without a broker. Of course, the realtors themselves make it this way. You can either pay the realtor or expect to take their commissions off of your selling price if you try to sell it yourself. Personally, I have done the latter. I take exception to paying someone for work that they do not do. We have bought and sold 6 properties throughout our married life and now we are preparing to sell our last one. We will NOT be using a realtor. In Northern NJ we had a - submitted by Anonymous on 06/20/2007
In Northern NJ we had a realtor who made every excuse why our house was not selling. She planned an Open House, which was not even advertised, and called the morning of the event to say she was sick and that I (the owner) would have to be available. She asked me to pick up signs, and anything else she had at her office. I refused. When the contract ended, she didn't understand why I wouldn't resign. She refused to take the lock box off the front door, so we took the door knob off and left it for her. She came by and took the lock box, and threw the door knob on my front lawn. Lovely woman. When I called her Office Manager to complain that she did nothing to sell this house, she told me that the realtor insisted the dog next door was barking and it was too much for her when she was showing the house. Gee, doesn't a strange woman walking into the house next door usually provoke a dog to bark? Within 3 wks I found another realtor, and he sold my house for the asking price, within 1 month. It all depends on who you get to do the selling. in Austin, Texas - submitted by LadyRae on 06/20/2007
Thirteen years ago I went house hunting and told my agent everything I had to have, everything that was a plus but not a requirement and a dollar amount stating I didn't want to factor in negotations, nothing one dime over a certain dollar amount. I have a real estate agent for life as do many of my friends. Like other things in life, you also have a degree of responsibility to participate in your choices. You can't let someone else call the shots them complain when you didn't get what you wanted. My last broker was great, - submitted by Anonymous on 06/20/2007
My last broker was great, showed me what I asked for and when I found it she urged me to take it. I didn't trust her the whole time but in the end she did right by me. Some others in the past I havn't been happy about but I knew that from the first talks together. So you have to do your homework, like anything else in life. I used to be a real estate - submitted by formeragent on 06/20/2007
I used to be a real estate agent. I met a few nice decent people, but they weren't my colleagues. So many of them were out for themselves, I couldn't believe it. I made some sales but to succeed you have to be nuts, available 24/7, do whatever it takes, and that means cutting corners, fudging the truth. It means not being nice. You can't be. I had people steal my properties, demand to co-agent, I couldn't stand it. I quit. I had no idea how much stress I was feeling until I did. Some can help but a lot are like what people have been saying. I'm glad to be gone. Enough about realtors, they - submitted by Anonymous on 06/21/2007
Enough about realtors, they stink, we all agree, but what about roofers? Let's give them the luv they deserve. I hope my son grows up to be - submitted by Anonymous on 06/21/2007
I hope my son grows up to be a realtor, that's my dream, because he's just not smart enough to be a roofer, lol A 'few' bad apples spoil the entire cart. - submitted by Anonymous on 07/30/2007
We had one realtor we chatted with ask us what college we went to and other personal questions. She then concluded 'The area you are moving to is not good for people "Like You" as it was very blue collar, you need to see my house I want to sell, that is in the area you should be in!' Forget the fact that her 'house' (Bad Flip) was on a huge hill with a backyard that rose 4 stories over the course of 50 feet and was priced astronomically when our requirements were 'family friendly' with a very low price point. She insisted on driving us by the house and trying to sell us on it wastihng hours of our time. Needless to say we never called her back. When we did buy our first house we had a friend who is an agent insist that we tell our realtor (who worked his ass off, we made him show us over 100 hours over the course of a full year) that our friend REFERRED US so that our friend could get a cut of the commission. Ridiculous! This poor guy works his soul to the bone and we're going to cheat him? Not happening. Finally, where we live its not just enough that you MUST have an agent, that agent has to be a LOCAL agent. If not no other agents will bring clients to visit. We call it the Real Estate Mafia. Real Estate is so dodgy I never would do a transaction (property or loan) with anyone I was a friend with and recommend the same to anyone. You need to be able to sue and fight with these people. Couldn't have said it better. . . - submitted by Fed up in Amarillo, TX on 03/13/2008
In my town of Amarillo there are over 600 Realtors. (Most of whom pronounce their title "Real a tor". You know - like "doc a tor"!) Give me a flipping break!!! At the mention of a reduced fee from the realtor set standard of 3% - MOST are offended that you would dare question their worth. NONE - and i repeat NONE are worth 3% of the contract sales price to sell your home. Seriously - they slide into the business because it's an easy way to make huge amounts of money for little "work". As Bill Cosby would say, "Come on, people"! Realtor - submitted by Kevin O'Shea on 08/10/2008
I have been a broker for over 20 years. You meet all kinds in this business. The ones that last, listen to people and try to do right by them. (That way they get referrals & repeat business). It isn't always a good idea to list with a neighbor or a relative who doesn't know the business because they just got their license. Talk to a few brokers, find one you are comfortable with that will represent YOU and go from there. After talking to someone for a few minutes you should be able to figure out if they are out for themselves or for you. The plumber jokes and the Realtor Jokes are all funny. But there are a lot of hardworking people in the business that try to do the right thing. All the best!  |
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