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Who is the real estate expert?

By
Real Estate Agent with eXp Realty LLC 200311024

A client of mine who bought from me about 11 months ago, had a relative that was a real estate expert! OK, you know what I'm talking about, the favorite cousin that because they watch CNN every night thinks they know more about real estate than you do? Well, to top it off, this person lived in another state and was calling me a bold faced liar in front of her cousin.

Well, guess who got the last laugh! Not to rub it in or anything, but the home that she was telling her cousin that was such a good deal is now under 5 feet of water. You see, this so called real estate expert, wanted her cousin to buy a property in a manufactured home park because of the tremendous savings. Well, I did the math, and after paying the fees to the park each month, after 3 years, she would have been going backwards.

I also advised her of the black mold problem in this certain park and she told me I was a liar again! As a real estate expert, she had never heard of black mold and was telling me I was making it up to try to sell her cousin on another property that would make me more money. I also advised her that the parks in this area have been shutting down one by one and that the owners of these homes were then given one year to move them and usually lost them because of the value going down so much and the cost to move them was just too great. Once again, I was called a liar! Well the last of the manufactured home parks in Beaverton, Oregon has now been shut down as I told her they would be. What did the average home seller get for their homes? 10% of what they paid for them and because they are considered a car (DMV title) in Oregon, these people are still stuck with the difference between what they owed and what they sold for.

Last but not least, I was told by this real estate expert from another state that our market was going down and not up as I was telling her cousin. She watched the news and watched the homes and she knew I was lying to them, just to sell them this more expensive home. Homes in my area were being foreclosed on and that our market was going down. I'm happy to say that their home just appraised for $24,000 more than they bought it for just 11 months ago, not bad for a market that is going down. I just got off the phone with them and they told me they are so glad they listened to me instead of their cousin, and that they are not talking to her anymore because of this.

So, who is your real estate expert? A cousin that has bought one home in her life, or your real estate agent that does this for a living? If you have hired an agent to help you find a home and you are still listening to your cousin for real estate advice, then maybe it is time to find another agent that you trust more. But, unless you're related to Donald Trump, I'm not going to put too much faith in what they have to say about real estate from 2000 miles away.

Comments (11)

JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

My real estate "expert" is a former boss of mine who constantly reminds me of how terrible the market is in Columbia. He does this despite the fact that I now make more money in real estate than I did working for him.

Dec 27, 2007 07:57 AM
Jeff Thompson
Thompsons Home Inspections - Palmdale, CA
Great story, I know what you are talking about, I had a clients brother in law talking down to me during a home inspection I was performing. Needless to say I finally had to pull him to the side and explain that I was hired by her and even though it hurt his feels I am the only performing the inspection and not him. This guy didn't know what he was talking about and finally walked away.
Dec 27, 2007 08:00 AM
Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.
Glad the client had the courage to walk away from her relative's advice. I see this often where they listen to a relative and end up getting a bad deal. OTOH, I have also see really bad agents try and talk clients into bad deals, and thankfully there was a well informed family member around to help out.
Dec 27, 2007 08:03 AM
Ryan Martin
Pacific Continental Realty, LLC - Bellingham, WA
Bellingham Commercial RE Broker
Todd - You have to love the outside real estate expert. I have dealt with this before too. In the end, they usually do hurt their "friend".
Dec 27, 2007 08:15 AM
Amanda Evans
DFW Living - Fort Worth, TX
Real Estate Broker - Fort Worth Texas
My favorite "expert" is dealing with the ex-Realtor. They know E V E R Y T H I N G . 
Dec 27, 2007 08:31 AM
Portland Oregon Real Estate | Alecia Barnes - Broker
Portland, OR
Todd: Your condoman cracked me up! I thought it said something else at first, and I was like, WHAT?? LOL. I love the KNOW IT ALL. I'm dealing with one now, who finally decided to listen and get a Realtor, who, told them like I told them 4 months ago, that they were basing their sales prices on comps from a year ago! eesh.
Dec 27, 2007 11:25 AM
Latonia Parks
Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV - Fayetteville, NC
Certified Military Relocation Expert
We call them crap(****)-house lawyers because they are full of it.  I encounter the same negativity with those wondering how the market is doing with the housing slump.  I tell them things are different in every market area because we do have things moving here constantly.
Dec 27, 2007 12:06 PM
Joeann Fossland
Advantage Solutions Group - Tucson, AZ
Master Certified Coach to Motivated Agents
Todd, Isn't it sweet? And, I guess we all find ourselves defending our point of view and expertise. It is nice when the truth comes out sooner rather than later!
Dec 27, 2007 01:43 PM
Roberta LaRocca
Simply Vegas Real Estate - Las Vegas, NV
REALTOR®, Broker, Salesperson, NV. Lic BS.507
Todd, Well I guess you showed who the true expert is!  Keep up the good work.
Dec 27, 2007 04:44 PM
Judy Tuscano
Prudential Verani Realty - Nottingham, NH
NH Real Estate Professional
Todd, You are good to listen to this kind of talk and not tell the buyers to go find someone else to take the abuse from the "real estate expert". Thankfully it seems your buyers were bright enough to let her spout off but not take her advice.
Dec 28, 2007 07:31 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

JL - Have you ever asked him if he is such an expert how come he doesn't use this knowledge to buy investment properties? Try to make some sales from it.

Jeff - Good for you and it is amazing what people think they know. There are times that I think the shows that we see on A&E are doing more damage to the industry than good. I love them and watch them, but I see people who are losing everything because of what they think they learned on these shows.

Melina - Usually when it is a situation with a Realtor talking a client in to a bad deal it is because they are greedy and that comes in any industry and it really is a shame to see.

Ryan - There was one time I asked one of these experts what they did and started talking about their work as if they didn't know what they were talking about. They got upset and told me I'm not in the business and really shouldn't be talking about things I don't understand. I said "Good, then we are on the same page?" They got the hint, but that was without my client around or I'm not sure I would have had the guts to pull that move.

Amanda - I fired one of those! They were an ex commercial Realtor and was telling me how I should sell their home.

Alecia - I'm glad I could make you laugh! Isn't that why I am here? Are you trying to say homes sales from a year ago here in Oregon are not any good? How are you ever going to become an appraiser with an attitude like that - lol

Latonia - Sad part is we hear about that slump from even other Realtors who aren't doing any business.

Joeann - I did enjoy it, I will admit that - lol

Roberta - My clients know it two and just referred someone to me yesterday. - NICE

Judy - They knew that the person was 2,000 miles away and they could nod their head while on the phone and soon as they hung up would be saying "Now, Todd what were you saying?"

Dec 29, 2007 03:50 AM