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So does anybody else

Feel that the abundance of new, young agents has affected the integrity of our business?

Now I'm borderline a newbie myself, so to avoid calling the kettle black, let's be up front. Any industry is going to have peaks and valleys in the in-flux of employees, but as the overall # of agents grows.....has the knowledge and experiance, dare I say manners, of this whole process called REAL ESTATE been forgotten.

Just today I recieved an offer. Great news right? Well, nobody ever even told me I had an offer, the listing agent later told me "he figured I'd get it." Secondly in the offer he stated that he was to be paid an additional $1,500 bonus for bringing the buyer. (not something we had discussed nor mentioned at anytime). Whoa, it gets better! Then he wanted the Seller to pay for the appraisal, if it didn't appraise he would HAVE to sell it to them for the reduced price, if it did, then he had to pay for the inspection too, which included a $1000 Repair Limit. All that and NO ernest money, NO broker signature, NO dates or expiration.

Now thanks for bringing me something, but its called DOA (Dead on Arrival) to this particular Seller--this I knew, but to just make it that much better, the offer was for $10K less than list on a fair priced home, positioned correctly in the marketplace, which has been getting decent activity and favorable feedback from agents and buyers.

Needless to say I put as much into working the offer for the Buyer as the agent did. Not to mention my Seller just started laughing and thought I was joking just because things have been slower than normal.

Overall it just renewed my enthusiasm for what I DO, and makes me LOVE my Competition that much more. I just hate to see good agents get frustrated with the additional hassles of improperly trained agents, who seem to have no guideance or respect for the fellow REALTOR.

Posted by Drew Riley on 10/10/2007 05:05 PM

Comments (10)

real estate, agents, integrity, question, help

Post is included in group: Arkansas Marketing Network
Post is included in group: Central Arkansas REAL ESTATE

10 Comments on So does anybody else

OCT

2007

I have to say, I have more problems with experienced agents, then with new agents. When there are errors and such on an offer from a new agent, 98% of the time, its an honest mistake and they get it fixed.

When I get offers from experienced agents, that should know better, its no longer an honest mistake. Often, they're harder to get a phone call from, AND I have had a few not present offers, knowing that they may be writing an offer with a buyer themselves.

So, its not the newbies, they're just learning. We need some retraining of those who have been around and gotten lazy and stopped caring!

Depending upon your relationship with the seller, he might be willing to send a message countering with a price $10K over asking price, the buyer paying the seller's closing costs, and the selling agent receiving $1 commission.

Drew, in PA, demanding extra compensation from a listing agent or seller on a property that the buyer agent has already shown, is considered interfering in the contract between seller and listing agent. In any case, fools like this agent will hopefully be washed out of the business, sooner rather than later.

Hi Drew, This newbie needs education--try to be gentle! Some get it eventually and some don't--those that don't will not last long.

Hello Drew, Tough field we are in always something new to learn everday. Some get it some don't and alot don't care. Keep with it, real estate is great!

Well the agent has guts!

I was just reading an article on broker supervision in PA association of Realtors newsletter - in it mentioned the responsibilty of Brokers to review all contracts. This might be a good one to return to this agent's broker. I'm thinking the non-greedy parts - the no dates etc..

Well, let's see, in our market, Fresno Ca, over 50% of the agents have less then 3 years experience. Some of them can't fill out a listing agreement properly, let alone a purchase agreement. Take a peek at these photos. Real professional, eh?

I just ignore the kind of offer you mentioned. We don't need to present offers we deem to be frivolous which is defined as:

not serious in content or attitude or behavior

After the agent hasn't heard anything from me for a couple of days they would probably call and ask if I had received the offer to which I would reply: ARE YOU SERIOUS?

if they answered "yes" then I would tell them to rewrite the purchase contract in a way that lets me and my seller know they are serious which would include an earnest money deposit and properly executed and signed agreement.

This problem isn't limited to newer agents.

Lazarus

Loved Don's comment, but I'd be generous and give the guy $1.50.

I don't know about your market, but mine (Grand Rapids, MI) is too small to do this sort of thing and still make a living long term.

OCT

2007

Drew, you bring a good point. I don't mind new agents at all, as a matter of fact I welcome questions and help them out. What I can't stand is those new agents that act like they know it all, don't ask for help and make the worst mistakes ever. Just recently we had an offer come in for one of our listings and the agent was so frank about it. She said she was new and to please bear with her and to let her know if she was doing something outside the norm, her broker was walking her through the process.

I agree some experianced agents can be tough, but those are more often them working for a buyer vs. being arrogant or uneducated. I am a pretty patient person, and actually I like helping out newbies, as I am fairly new myself and have learned so much from older more experianced agents taking the time to do so. Everyone has to start somewhere, but dont try and be something your not....thats what gets me.

Thanks all for taking the time to read my ramblings!

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