Profile picture for rmr8833

Any one think realtors are like vultures?

I have sold many of my own homes and find these things to be true. A realtor will tell you anything to list your home. They will parade as many unqualified buyers through your home at the most Inconvienient  times to you, and will accept any offer an ignorant buyer wants to submit without trying to educate them on the market value first. They will waste your time by using your home as a comp for a buyer that has no interest in it whatsoever, and all they care about is a sale at any cost. There are far too many part time realtors, and the number grows when unemployment grows, they have no shame. Trust me, try selling your home on your own first, USE a realtor only if you have to!

  • March 28 2009 - Menlo Park
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    Profile picture for rmr8833

     

    "If you ever think about doing home surgery or home dentistry, get back to us on how that worked out."   Mike Emery

    O.K., Mike, Worked out very good, thank you! By the way, my Wife is in Dentistry and I am a contractor! Very good guess! Obviously more than one person agrees with me, so don't be so defensive, work on selling, not defending your turf!  B.R.
    • March 29 2009
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    Thanks Bonnie and David, and I also agree theres no need to name call. zillow is supposed to be for support and real questions concerning property and the like, or so we thought.  
    • May 30 2009
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    Dear Michael and Dave&Lisa,

    Thanks so much for two excellent and thoughtful posts and for telling it like it is.  Why real estate agents always take a bum rap is beyond us.  We also have not had a vacation in years, constantly have our cell phone on alert and always make appointments on weekends when other people are on the beach or taking long drives in the country.  <sigh>  And if, as so many posters believe, real estate agents are making such a killing in this market, why has there been a huge exodus of agents who are leaving our industry - more than any other time in recent memory?

    Zillow, how about scanning this thread because there are individuals using very bad language, which I believe is a violation of your community standards.

    We're over and out and on to a saner thread  - and thanks to all the TERRIFIC REALTORS who care about their clients!

    Best regards,

    Bonnie & David
    • May 30 2009
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    Does anyone here think everyone in the world is a Vulture?
    You know there are so many greedy people in the world, there are so many bad people in the world, there are so many bad doctors,teachers,lawyers,mortgage reps, realtors,moms, dads, homemakers, cooks, waitresses, dentists,landscapers, contractors, boyfriends,husbands,girlfriends,wives,and even past Presidents of these United States. My husband and I work atleast 60 hours a week and in busy time more. We haven't had a vacation in a few years. We can't leave our job, and if we go to a party or to visit family our job goes with us. I can't tell you how many times we've been at a birthday party and spent most of the time on the phone with our clients. Why because even on Saturday or Sunday somebody did something wrong or something that needs explaining and the client doesn't call the lawyer the inspector, the mortgage rep. on Sunday they call the REALTOR and guess what, we explain it to them, we help, we do our best to see that the client is happy. So stop trashing All Realtors, as I've said before there are good and bad in every group. Maybe we can start another group discussion on bad parenting, no experience needed, or bad contractors, never on time and how to over charge, or bad mortgage companies, how to mislead a client, or Bad Fathers, again no experience needed to raise tomorrows leaders.  Anger,or the need to vent doesn't help anyone and only makes the person whose bitter even more so. Life is far too short to be bitter, or angry,especially over someone's profession, and one you can choose to use to help you or not.
    • May 30 2009
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    Profile picture for Mr Caveat
    "Name any other line of work with so low a barrier to entry and such possible pay?"

    Acting.

    oh hell no... try again buddy. the pay for 99% of actors, musicians, performers of all kinds cant even rival taxi driver in pay... and it takes a hell of a lot more than 100hrs of training...just to get nothing... 99% of realtors arent starving, even in this market
    • May 30 2009
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    I don't see the rantings of nameless, faceless bloggers as valid, but I do believe during the bubble, almost everyone became a Realtor....

    They came like locusts from everywhere, Every sleezy lying scumball form under every rock tried to join in and ride the big wave.

    People were lied to, double crossed,  led down the primrose path and bent over in every conceivable way just to be left in ruins, by heartless, greedy,  back stabbing,  dogs in the manger crooks who would take your last dollar and leave you in the dirt.

    I don't see them in the business today because their "hay-day" is gone. They cannot perform according to the strict rules and enforcement of the laws of this market, nor are they capable of, or interested in, doing the hard work required of agents today. They came and went with the bubble.

    I do know lots of Realtors today, from across the US, who I would trust to help my grandmother if need be. Perhaps 1 in 500 is still a dirtball, who knows, I have not met any in 2009.

    It is time to heal.
    • May 30 2009
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    [inappropriate post, removed by moderator]
    • May 30 2009
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    Profile picture for real estate mike
    Plenty of bad doctors, think malpractice, unneeded surgeries, overmedicated Americans, tests tests more tests, nurse does most of the work, plenty of good doctors too.
    • May 29 2009
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    Profile picture for andy_sa
    Hi Linda,

    The problem is that a BTSA is above and beyond the commission, and it violates your fiduciary responsibility to the buyer. Would the buyer be upset if you steered them to a property because of a BTSA? Probably yes.  And would that be legal or ethical for you to do?  No.  So why should something that is not good for anyone involved be allowed?

    Andy
    • May 26 2009
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    Roberto,

    "Name any other line of work with so low a barrier to entry and such possible pay?"

    Acting.  Some entertainers are very talented.  Others make it on luck, looks and have more connections than most teenager cell phones.  Nobody said an education equals high pay.  My graduate degree is in Library Science.  Did you ever meet a rich librarian?  Does Sean Penn have a Ph.D.?  Probably not, but I'll bet he makes more pay per film than most college professors make in a lifetime, minus the tenure.  And yeah, I think Sean's a great actor...

    The topic is "Are Realtors like Vultures?"  This thread is provocative and addresses the issues of ethics, morals and a sense of decency and you don't need a college education or 1,000 hours of engineering training for that.  We happen to believe in furthering our education, and we have taken and will continue to take real estate courses and try to get "credentialed" (ABR, SRES, E-PRO etc).  But that won't make us more ethical than we already are, nor will it necessarily make us more successful agents.

    Phyllis, always happy to make someone happy, and great to hear from you - keep posting!

    Bonnie  &  David

     
    • May 26 2009
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    Bonnie and David, You are both the best, thank you for bringing a smile.

    I couln't have said it better...
    • May 25 2009
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    actually, the payoff per investment is very very high. to deny this is a lack of honesty, I had to go to many years of college to get my engineering career going, courses that few people could pass. It took 100 hours of class material that quite honestly was the simplest stuff ever to get a real estate license. And I made plenty right out the gate. Name any other line of work with so low a barrier to entry and such possible pay?
    • May 25 2009
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    Linda and others...

    Some people will never learn.  It's so pointless.  My favorite entry is "SoCal BubbleBrain" who writes that "the payoff for such little work and time put in is outrageous."  You know, he's right and I wanted to set the record straight about Realtors. 

    The truth is, every time David and I take a listing we go home and go to sleep for six months.  We never write ads, put up signs, do open houses, make phone calls - nothing.  There's no need to.  I used to think that to make great money, real estate agents had to work hard to promote, market and sell their listings.  We were told you had to keep consistent follow up with sellers and buyers, and that you'd have to negotiate with lawyers and mortgage brokers during the process from listing to closing.  I thought it involved time and effort.  But not for us.  We've been lucky...we've been vacationing throughout Europe and Asia, I drive a Maserati, we own several estates and all this time we've been ignoring our clients and partying with the jet set.  Oddly enough, the checks just keep rolling in.  All this, with no work.  This is even better than a chain letter (we made our first $100 million with that).

    On another topic....Although David and I have graduate degrees and worked in other fields prior to our real estate careers, I don't see education being an issue.  Comparing the educational "credentials" of real estate agents to doctors or lawyers is as silly as comparing a musician to a postal worker.  You are either honest or dishonest, ethical or not ethical.  And as the Griswold's put it in the post below, you've got bad apples in every profession and trade.  To wit, Bernie Madoff graduated from Hofstra and last I checked he wasn't a Realtor.

    Best regards,

    Bonnie&David
    • May 25 2009
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    Andy:

    There are selling bonuses on all products marketed...what is the problem you see with bonuses offered selling real estate?  Quite frankly my dear...it's not exactly a computer or laptop or toaster or tv or even a car! Heck even companies like those selling those products offer incentives to purchase one over the over. It's not like one is not as good as the other...it's just that one has a greater interest in moving the inventory faster. Without Selling Agents...there would be no sales!  Then you could list and wait till doomsday.....as many of them do.  Quite frankly how many different floor plans do you believe exist? Three...possibly five per subdivision????
    • May 23 2009
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    Profile picture for andy_sa
    I agree and think there are several inherent problems with real estate representation.  The worst is a Bonus to Selling Agent (BTSA), and it should be illegal.  I wrote about it here:

    [content removed by moderator for being self promotional]
    • May 19 2009
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    With the day to day changes affecting each real estate transaction I wish you and your buyer the best of luck! 
    • May 18 2009
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    Profile picture for sunnyview
    "So if you have a bad relationship do you then say all relationships are bad? And then post it on the internet?" Yes, when the professional organization tends to promote professional tactics and practices that are questionable and then forces clients into agent supervised mediation, the angry client is left going onto the web to complain because no satisfactory recourse exists. I think the good agents do their job well in spite of the bad ones and their own organization sometimes. I admire their commitment to professionalism, but denying some of the problems that exist within the profession does a disservice to the clients and the other hard working agents that have to deal with them.
    • April 21 2009
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    Bonnie and David: In the "mighty" state of California you can work both ends: represent buyer and seller AND do the loan all at the same time. Think about that for a moment. It is those kinds of trasactions that prompt ngative comments.

    Socal Bubble: Max hedrom? Just a little trivia: do you remember what originally happened to Max? don't cheat by looking on the web. I still have a tee from the movie premier.
    • April 20 2009
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    Well now it seems to me that alot of people have issues with Realtors.
    That's a shame that people can attack All Realtors, that's like prejudice.
    I thought we got over all that.

    All Men are not created equal
    All Realtors are not created equal
    There is good and bad in every profession
    So if you have a bad relationship do you then say all relationships are bad? And then post it on the internet?
    • April 20 2009
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    Profile picture for Menudo Bongo
    Vultures are scavengers - Agents are predators, evil, scheming and dumb - all in one package.
    • April 20 2009
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    Profile picture for sunnyview
    I wish that all agents could see the conflict of interest between the tie in relationships. I feel they should be illegal, but that is not my call.
    • April 20 2009
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    ''Doctor goes to school for an avg of 7 years.....Realtor...only 10% have a college education.  Nuff said.  ''

    DITTO. The payoff for such little work and time put in is outrageous. So of course some shady business will take place here and there.
    • April 20 2009
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    Hi Phyllis,

    Excellent response!  Your points regarding a Realtor/Mortgage Broker not working in the best interest of the buyer are well taken, and no Realtor should ever wear two hats.  In New York State, direct tie-in arrangments are prohibited.  To the best of our knowledge, a licensed Real Estate agent and Mortgage Broker cannot be involved in the same transaction when representing a buyer in a sale.   However, there may be "referral fees" distributed at closings to agents who have referred a buyer to specific real estate attorneys or mortgage brokers, should that buyer choose to use one of the referrals.

    We believe it is very bad practice for a Realtor to engage in this behavior, and we strongly discourage it.  At closing, a buyer may end up paying higher closing costs (higher interest rates and attorney fees) and may be unaware that the "referral fees" the agent receives represent a portion of the amounts the buyer overpaid. 

    We never engage in any conduct of this sort, nor have we suggested or steered a buyer to a specific mortgage broker or attorney.  Only if asked, we would suggest specific attorneys, mortgage brokers and banks from a short list that has been vetted and is based upon their experience, professionalism and reputation.  That is how it should be done.

    Best regards,

    Bonnie&David

    • April 20 2009
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    Bonnie&David, how refreshing to have a practical response. Yes "Realtors" are bound by a code of ethics, however I have come across people that only have passed a RE/broker exam and never join the local board or become "Realtor" status. They are not bound by anything. They sometimes "work both ends" they do the loan and the RE transaction. The attraction to some borrower/buyers is that they are promised a low fee to to the loan and a kick back on the commision. Sounds good on paper, however when you work with a person with no experience or training and no ethics code to worry about, the end result is disaster.

    • April 19 2009
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    A good Realtor, one with integrity who takes his/her clients' needs seriously will not tell you anything simply to list your home, because it will hurt you, and the Realtor's reputation.  We've walked away from listings that we knew were priced out of the market value range, and homeowners appreciate our honesty.  If they list with another Realtor and their property does not sell, they remember our advice and price recommendations.  When the listing expires, it is us they remember and then they contact us.  It's a shame that so many excellent Realtors have to respond and defend our profession based upon the actions of a few bad apples.  And yes, it is preferable to choose a full-time Realtor (we work full-time) but unfortunately that is still no guarantee of honesty in this or any business.

    I would define "vultures" as those who deliberately violate "Do Not Call" and local anti-solicitation" ordinances.  As Realtors are only paid when the sale closes, there is little incentive to take listings they have no intention of making a genuine effort to sell.  We congratulate FSBO's when they sell on their own, but generally, after 4 - 6 weeks of trying on their own most FSBO's seek the services of Realtors.  Also, Realtors are bound by the code of ethics of the National Association of Realtors and must always act in his/her client's best interests.

    All the best,

    Bonnie&David



    • April 19 2009
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    "Too many Haters" .....Debate is always a good thing. Sometimes it's pleasing sometimes not. The fact of the matter is this, Real Estate people have a bad rep. NTETS is a good wake up call. he doesn't pull punches when he brings us back to earth. Using the analogy of Vultures as a good thing is very frightening....
     It's astonishing how many Realtors have spammed these threads, a complete disregard for the zillow policy, (vulture)
    • April 17 2009
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    shawn, thanks that was quick and to the point... too many haters on this site.. too much 'all' 'everyone' 'never' etc...
    • April 16 2009
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    Profile picture for Mr Caveat
    louis wolfson: agent said
    Vultures like myself devote every waken minute doing the best job they can for the sellers and buyers as it is a referral business, and if you want to succeed you don't get second chances. (be a vulture, yeah!)

    lisa hollins: agent says
    A good Realtor will act as a vulture, but only when it is in YOUR best interest.

    my case stands... agents like
    birds of prey circling a sick/injured/dead animal is a solid metaphore for what you do and as positive image for your industry...


    • April 16 2009
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    I have sold houses FSBO and I have sold using an agent.  In each case I assessed the market and how much time I had to devote to the sale.  The times I decided FSBO was not the appropriate route, if I did not already have a relationship with a local agent, I did extensive interviewing before signing.  When I had a local agent, I contacted them and ran a less intense interview - on the lines of "Since the last time we worked together, has anything changed?"  The agents I worked with durn near walked on water for me.  (And, the FSBOs were highly successful but hard work - the last four sales have been through agents.) 

    On the same lines, when I needed a contractor I interviewed intensely and found a gentleman who stood by me for 20 years and 7 houses. 

    In this, as in all things, there is an element of Caveat Emptor.  I kept a list "reasons to not hire" and, the minute one of those was triggered the interview ended potlitely.  Of course, if the customer is located in a place where there is only one game in town, s/he might have to resort to home surgery.    
    • April 16 2009
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    Profile picture for SeattleHome.com
    No.
    • April 15 2009
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