Questions for realtors

LennyR · Oct 5, 2018

deaner said:
Thats the thing. If you read the fine print in the training they give you, you actually arent supposed to give any real advice as a realtor! I got warned about this a lot when I was in the business. I have a background in building and renovating, but I was warned NOT to make any comments whatsoever about that area because I could open myself up to liability.......refer to a building inspector. I had a really good handle on all of the zoning regulations, legalities, etc, but was again warned NOT to advise clients........refer to a notary or lawyer. When it came to valuing properties I was always VERY close to what they would actually sell for. Had a client one time that wanted to pay a good premium above market value. An older realtor in my office says "who are you to tell them what its worth, let them buy it!". Uhhh.....Im their realtor.....the one who should be advising them on this? Again, if it came down to it......refer to an appraiser. The profession really is a joke. There are definitely a few good ones out there though. Even with my disdain for the profession, I have two realtors that I have been extremely happy with in the past.

It can be a challenging business for sure, and is going thru many changes lately, as most industries are. As in any business, like say building and renovating , there are many many horror stories to be told by disgruntled clients about less than professional or unscrupulous industry members, and I've met a lot of them. But as in all industries and professions, there are good and bad, and I've been involved with many Realtors for many years who are honest, ethical and understand their obligation to their client, whether buyer or seller. Its unfortunate the industry wasn't for you, hopefully building and reno will work out . The industry licensing requirements are getting more and more restrictive, IMO, not in a positive way. The big brother mentality is becoming rampant in most industries, none quite as much as the Real Estate world. You certainly sound bitter towards the industry, and that to bad , as I've seen both very good and very bad. as in most industries.

wolverine68 · Oct 6, 2018

I experienced the same thing myself when I was in my early twenties. I owned an acreage with a couple of older houses on it and wanted to sell to purchase a new primary residence. I had a realtor come out and he suggested that "we should start at about $90,000". He must have thought I was young AND stupid. I ended up selling it privately a short time later for $128,000. I'm sure that he had a buyer (friend) already lined up.

Iron Horse Racing said:
Years ago bought a couple house's fixed them up to re-sell...
Was approached by a relator that said he would give me first dips on fixer uppers, if I intern would help him....OK I'm listening...

He wanted to use my name to buy a house, that he would then re-sell and share in a portion of the profit....

So I said how are you able to get it so cheap....he had signed an exclusive sell contract with an older lady that lost her husband, told her it was only worth X...
But he couldn't buy it, and had already done this that year 6 times through used friends and relatives....he needed fresh investor's (that's what he called them).

Needless to say I wasn't very popular when I threatened to turn him in, if he didn't set things right with the elderly lady....
He didn't believe me that I would, until I sent him a picture of me talking to her on her front porch...

Have bought and sold 7 properties with out the use of a relator...at the end of the transaction you still need to have a lawyer, with or without a relator..

I'm sure there are some good ones out there somewhere....

But ever read the fine print on every real estate contract....." they are not liable for any of the information, they provide"....

OK rant over....

Questions for realtors

LennyR

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wolverine68

Active member

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