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His LA Agent was (GREEDY) trying to Represent Him 145 miles Away!

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Real Estate Agent with California Lifestyle Realty DRE# 1780607

His LA Agent was GREEDY trying to Represent Him 145 miles Away!

 

A walk-up buyer came in the office a few days ago seeking info on listings.  He said that his agent was in LA, and was sending him around to properties by calling listing agents in our area to show him the homes.  He had made several offers sight unseen that didn't work out. The homes were in terrible shape, or bad neighborhoods.   He is a motivated buyer-- and he had many other agents here in the desert looking for homes to show him.  If he liked the house-- he would let them write an offer.  He had even met up with an agent in our office the day before and told her to send him properties.  BIG RED FLAGS!

I had looked up 5 properties for him the day before, but I told him that I would not show him homes without a Buyers Rep agreement,  and if he wanted-- I would agree to a Referral Agreement with the LA agent.  He did not understand that he was wasting not only his time, but all the other agents time who had been researching the MLS for him.

When we met up on the second day-- I was ready to send him out the door.  I told him-- unless you commit to me as your agent, unless we are "married" on this deal... I will not work with you.  I will work incredibly hard to find you your place here-- but we do it my way.  No other agent had explained this to him.  He did not understand that he needed to work with one agent-- and let us do our job-- we will find you a home.  We all have access to the same information. 

He agreed to signing and honoring the documents, and his agent sent me a Referral Agreement today.  We are looking at homes tomorrow-- and I have shown him that I will work hard for him. He is such an aggressive buyer with a clear picture of what he wants-- I know that we will find his home soon and get it closed!   

I would never presume to know the Santa Monica market, or the Laguna market, Beverly Hills market, or the Carlsbad market... but I do know great agents in those areas. ( Thanks to ActiveRain! )

Why would a greedy agent try to represent their client in a market so far away?

 

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Kathy Schowe   760.333.8886  California LifestyleRealty  California Lifestyle RealtySchowe Properties                                           

        

                  
                                   

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

How sad that the buyer didn't realize he wasn't getting serviced properly by an agent 2 hours away. A complete waste of so much time

Sep 19, 2011 03:11 PM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Crazy....but I give the guy credit.   A difficult economy calls for different actions, but I'm with you here.....way over the top!  Wayyyyyyyyy over the top!

Sep 19, 2011 03:18 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Our office is in the condo-hotel, units are cheap, and agents often do nto want to go and show. So they send clients to the resort and tell them that if they like the property, then the agent would come and show units, or they just tell them to come to us and ask to see the units.

Whenever itis the case, I tell them that if I show them the unit, and they want it, then I write the offer and work with them and I do not pay the other agent a penny.

It is different when the agent calls, though

Sep 19, 2011 03:19 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Kathy - I too don't get that kind of nonsense when agents from out of the area tell their clients to just get listing agents to show them property and then they (the out of area agent) will write the offer.  Whenever one of my borrowers tell me their agent is somewhere down in SD county or even down in OC and they're looking for a place in Ventura county and I ask them why they are doing that why don't they work with someone local?

Sep 19, 2011 03:47 PM
Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Kathy,

I had a client call me, wanted to see a property the same day, told me he was not working with a Realtor, at the property, told me he had a agent out of town, and she would write the contract if he decided to buy.  Said she told him to call any agent here in the valley to show him homes.  He is related to the hometown agent.....

It happens, I don't like it but it does.  I suggested he agree to work with me, or have "his" agent come show him the other homes he decided he wanted to see.  I suspect he simply called someone else local and started over. 

Frustrating!

Sep 19, 2011 05:42 PM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

I would never do that! Heck I won't even do it on the other side of Houston that is at least one hour away from my stomping grounds!

Sep 22, 2011 10:32 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Kathy. I had not seen this when written but since Donne highlighted it, I decided it was worth a read. I don't know either of you but I couldn't agree more with your thinking and your style. Bravo! Suggested.

Sep 25, 2011 06:45 AM
Rodney Mason, VP of Mtg Lending
Guaranteed Rate NMLS# 2611 - Atlanta, GA
AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

So many buyers think there is nothing wrong with having multiple agents looking for properties for them.   Agents could give better service to the real serious ones if the other did not consume so much time.

Sep 25, 2011 08:08 AM
Greg Nino
RE/MAX Compass - Houston, TX
Houston, Texas

There's a problem with this.

if he came in on YOUR listing then where does your interest belong? I found this out the hard way. A lazy witch of an agent did the same thing to me. She lived some 200 miles away from MY listing, but was sending HER buyer all over Houston to find a house on HIS own.

The buyer argued (probably from advice from his lazy agent) that it was my FIDUCIARY responsibility to SHOW my listing and that I shouldn't be concerned about his relationship with HIS agent, but more so about the relationship with MY SELLER!

I called our association, spoke to my broker and even an attorney. I was basically told that if I wanted to turn away a buyer or "refuse to show him" I better make sure my seller understands! Otherwise I could be found guilty for not playing my clients interest before my own.

I have yet to find a good solid way to circumvent this problem. Do you really need a buyers rep to unlock a door and show? No, you do not! Is it a smart way to run a buyer off that you don't feel deserves your time? Sure!

Good luck...

Sep 26, 2011 03:50 AM
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

Hi Kathy, you really did a good job explaining the situation to someone who obviously did not know how it worked, ( I mean the other agent as well).

Sep 27, 2011 04:34 AM