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Real Estate : It’s a great time to buy. it’s a great time to sell

RiverDave

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Are there really that many tire kickers? New tools like Zillow allow "shoppers" a pretty good experience without being a tire kicker. A quick phone conversation with a "Lead" should set in motion a qualifying process that would weed out anyone not in a position to buy. The tire kicker problem seems like a lack of sales acumen.

I see the biggest hurdle in showing a home to prospects without wasting time. Good pictures and videos can scale the reach of prospects without a traditional showing.

I rarely see a good sales video produced that truly walks a person through a home and tells a story. It seems everyone just does the same thing and does a walk-through video with some crappy elevator music. It's kind of like when you just let people randomly walk through a house and dig through people's closets. Some of RDP's videos are so good you don't really need to do a showing unless they are ready to buy. Value Props matter; you can't do that with a cell phone camera and a shakey walk-through.

When we sold our Ranch in California, I self-produced the video sizzle reel at a time when no one was doing videos. Today, I would do it with a host and explain everything.

Just because something has always been done this way does not mean there is no room for improvement. I see most of the excellent work done by a seller's agent. The problem seems to be "What Value" does the Buyer's agent provide? This appears to be the most significant opportunity for the RE industry.

So we do a lot of buyers as well. Finding things that are off market through networks is a big help.. but in reading your own posts more often than not a serious buffer between the buyers and sellers is needed.




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Havasu blue label

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Yea, like I think I have said multiple times. Good selling agents are easy to spot and well worth the money. The problem is that there are so many bad agents when times are good.

I don't hide from this statement. In the mid-2000s, it was effortless to be a contractor. In the fall of 2007, I learned how terrible I was at the business. I paid for that lesson for almost 15 years. When times get tough, you find out who is good at what they do. It is really easy to be bad at business when there is lots of money floating around.
Very true
 

Cdog

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1.) A decent video tour of a listing is a good start. RDP does this better than anything I have seen. They could go a step further—basic marketing acumen, including the 4 Ps of marketing. Tell a buyer why they should buy this house. Trash day is on Friday; the school bus stop is 100 feet away, the water heater is new, and it is a maintenance landscape. This house is priced below market, the utilities are underground, and it has high-speed internet, etc. RE agents have not had to work for it, so they just follow the leader. Scale the pitch so you don't need to show the Lookie Lous. Since many buyers are moving across states, it would make sense to use the opportunity when you have them and sell.

2.) I have no problem being pre-screened or prequalified for any purchase I am about to make. I am suspect of any salesperson who does not ask me basic questions like my timing to purchase, how I plan to pay for an item, and if I am the sole decision maker. If I'm not willing to answer these questions, I'm not serious.

3.) Yes, this is their business model, and I love it. Invest in an excellent digital marketing person with PPC and Google ads experience, and they will show you how to run a re-targeting campaign that blows up prospects who visit Zillow.com. I'm not going to give away the playbook. You can leverage Zillow in other ways if you are so inclined, but it is not free.
Zillow premier agents only work with teams in phoenix. That lead capture pimp hoe deal I mentioned earlier
 

Sportin' Wood

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So we do a lot of buyers as well. Finding things that are off market through networks is a big help.. but in reading your own posts more often than not a serious buffer between the buyers and sellers is needed.




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Yes, I can be a pain, but I assume that is not unique.

A good buyer agent seems like a person who really has a handle on the local market. Again, this gets screwed up by so many part-time people who are pikers.

I'm pretty sure all would agree that the NAR needs to clean the house and set some guardrails on who can be a Realtor. The poor perception is the fault of the Industry in general.
 

Cdog

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A good buyer agent seems like a person who really has a handle on the local market. Again, this gets screwed up by so many part-time people who are pikers.

I'm pretty sure all would agree that the NAR needs to clean the house and set some guardrails on who can be a Realtor. The poor perception is the fault of the Industry in general.
This is spot on
 

RiverDave

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Yes, I can be a pain, but I assume that is not unique.

A good buyer agent seems like a person who really has a handle on the local market. Again, this gets screwed up by so many part-time people who are pikers.

I'm pretty sure all would agree that the NAR needs to clean the house and set some guardrails on who can be a Realtor. The poor perception is the fault of the Industry in general.

Oh I agree the part timers aren’t helping the cause.. you’d be surprised at how many full timers are just there for the commissions and could give 2 shots about anything else..

That said I’m not sure what those guard rails look like? And by definition capitalism should work its magic on the weeding process.

The problem is though cousin kinda will do it for 1%.. then does nothing then ya get threads like this saying they are all that way. They aren’t.
 

Englewood

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Oh I agree the part timers aren’t helping the cause.. you’d be surprised at how many full timers are just there for the commissions and could give 2 shots about anything else..

That said I’m not sure what those guard rails look like? And by definition capitalism should work its magic on the weeding process.

The problem is though cousin kinda will do it for 1%.. then does nothing then ya get threads like this saying they are all that way. They aren’t.
They hire their friend’s mailman’s sister’s T-ball coach to sell their house for and then complain that agents are overpaid when the guy doesn’t know anything.

Sorry to disrupt the narrative here, but…

Yes, you can sell without an agent.
Yes, you can buy without an agent.
Yes, you can pay $100 to get on MLS.
Yes, you can pay 6% and hire the “best” agent around.

Pick the option that fits your needs and move on.

What happened to personal responsibility?

If you think you paid too much in commission, look in the mirror. The person reflected there knew the amount upfront, selected that agent, and agreed in writing to the commission amount. If you paid too much, that’s on you. Maybe it’s time to actually vet who you hire, or opt for a more affordable option.

I’ve employed over 1,000 real estate agents and have done 5b in transactions. When I go to sell a home, I will be interviewing three top agents. I will ask to see past sales, marketing efforts, marketing plans, statistics, insurance, reviews, current workload, points of contact, team members, etc.

I’d be willing to bet that every person complaining about commission didn’t take any real steps to interview the agent they were hiring to sell their most valuable asset.
 
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BHC Vic

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i think that’s the point people are making in saying their should be more guardrails 🤷‍♂️
 

hallett21

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i think that’s the point people are making in saying their should be more guardrails 🤷‍♂️
I’m wondering if they want more guardrails or someone to get them more money on their investment. I’m getting the impression there’s a lot of buyer and seller remorse.
 

Sportin' Wood

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But the same people saying that are using the bottom rung agents.. lol.
I believe the NAR is kind of screwing its members. They seem to have diminished the value of the Realtor Title. They even pimp out Realtor.com and don't own that website; it is under license to NewsCorp, I believe. The consumer protection should be to use a licensed agent and Realtor.
 

BHC Vic

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But the same people saying that are using the bottom rung agents.. lol.
In all honesty I know my first agent was shit. I honestly really really hate firing people. I just did everything myself and moved on with life. But when I got a good agent I saw the night and day difference. I think people are saying their should be guardrails making those shitty agents non existent. I know I didn’t do any interviews, or ask any questions. Just wanted someone to get the deal done. Would be nice if all agents were at least decent and semi qualified. Maybe a license shouldn’t be so easy to get.
 

hallett21

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Have you seen how easy a contractors license is to get? I always laugh when guys say “they’re licensed”.
In all honesty I know my first agent was shit. I honestly really really hate firing people. I just did everything myself and moved on with life. But when I got a good agent I saw the night and day difference. I think people are saying their should be guardrails making those shitty agents non existent. I know I didn’t do any interviews, or ask any questions. Just wanted someone to get the deal done. Would be nice if all agents were at least decent and semi qualified. Maybe a license shouldn’t be so easy to get.
 

Englewood

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In all honesty I know my first agent was shit. I honestly really really hate firing people. I just did everything myself and moved on with life. But when I got a good agent I saw the night and day difference. I think people are saying there should be guardrails making those shitty agents non existent. I know I didn’t do any interviews, or ask any questions. Just wanted someone to get the deal done. Would be nice if all agents were at least decent and semi qualified. Maybe a license shouldn’t be so easy to get.
So in the end, you hired someone without any research or interview, to sell your most valuable asset, and surprised when they did a shit job?

Sorry, but that’s on you.

Would you hire someone to remodel your house without seeing their work?

Shitty people will exist in EVERY profession, regardless of schooling.
 
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cofooter

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I will gladly pay commission to a real estate agent that adds value in marketing, local market knowledge, pricing knowledge, negotiation skills, etc. Others no way. I have one I have used several times on both sides that absolutely deserves it.
 

Cdog

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I will gladly pay commission to a real estate agent that adds value in marketing, local market knowledge, pricing knowledge, negotiation skills, etc. Others no way. I have one I have used several times on both sides that absolutely deserves it.
Yeah but this place is riddled with “that one time at band camp” stories. Not realizing it’s their picker that broken. Explains how Dodge stays in business.

Show me on the doll where the real estate agent touched you.
 

BHC Vic

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So in the end, you hired someone without any research or interview, to sell your most valuable asset, and surprised when they did a shit job?

Sorry, but that’s on you.

Would you hire someone to remodel your house without seeing their work?

Shitty people will exist in EVERY profession, regardless of schooling.
Actually it was a family friend which made it even worse. You can say it’s on me but your Industry is all screwed up and that’s not on me.
 

Englewood

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Actually it was a family friend which made it even worse. You can say it’s on me but your Industry is all screwed up and that’s not on me.
You picked a “family friend” to sell your most valuable asset without any research or qualifications and the industry is screwed up? Just making sure I’m understanding you here.

FYI - No longer my industry. I sold my company.

If you hire a contractor because they are a “family friend” and they do a shit job, is it the industry’s fault also?
 
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Ducksquasher

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When buying you don't pay commission...don't the agents split the commission unless it is the same agent on both sides?
 

RiverDave

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Englewood

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When buying you don't pay commission...don't the agents split the commission unless it is the same agent on both sides?
Seller pays the listing broker a commission. Listing broker, with seller approval, offers a portion to a buyers agent.
 

BHC Vic

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You picked a “family friend” to sell your most valuable asset without any research or qualifications and the industry is screwed up? Just making sure I’m understanding you here.

FYI - No longer my industry. I sold my company.

If you hire a contractor because they are a “family friend” and they do a shit job, is it the industry’s fault also?
Happens all the time and yes my industry goes through it all the time with shitty contractors absolutely. Right around now they will all start getting weeded out. I have no problem keeping it real. I literally just agreed it’s way to easy to get a contractors license
 

angiebaby

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When buying you don't pay commission...don't the agents split the commission unless it is the same agent on both sides?

That depends on perspective, doesn't it? If the seller paid $20K less in commissions, the price may be $20K less on the buyer's end, right? But the seller is paying the $20K, so they tack it onto the price because they have a certain # they want to walk away with. So who is paying for the commission?
 

RiverDave

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That depends on perspective, doesn't it? If the seller paid $20K less in commissions, the price may be $20K less on the buyer's end, right? But the seller is paying the $20K, so they tack it onto the price because they have a certain # they want to walk away with. So who is paying for the commission?

Normally I agree with you on most things but it’s a little more complicated than that.. same reason jeff said when he lists his contortions he’d absolutely use a broker.. who’s paying the commission? The buyer the seller or is it a combination of a myriad of things that add up
To a service?
 

RiverDave

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By the way got home from Miami at like 3:30’ish last night.. or as Dylan would say a half past three, I might say 30 to 4…. lol. j/k

Do all the kids stuff today to get ready for school
And want to take the kids to a nice dinner before going to bed.. but we gotta stop by Ross or possibly the mall because we need black bed sheets. Gotta stop by the staging storage unit because need a couple things.

“Honey can you go with me we will only be gone ten minutes..”.

Next thing I know I’m over here wiping down beds that have dust on them. She’s making beds and literally risking life and limb crawling up one of those old kids bunk beds to finish it.. lol. (Zero chance I’m doing that)

I asked her why we can’t just have Jake or one of the kids that work for us do this tomorrow? Because pics are in the morning and she wants to make it nice. If she does it now we can have pics faster to get it online faster.

I asked what’s up with the animal print? Answer “mob wife is coming back in style”. lol. That led to a much longer conversation.. but basically in this financial range it’s the new hip.

To the basics of this thread, either your agent gives a shit or they don’t.
 

Cdog

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In that same spirit I was here 1 hr early to make sure every detail was perfect for the photo shoot on this 1M listing.

The seller was an elderly lady with old lady crap everywhere. Like country crock Tupperware lol!

 

whiteworks

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Last house I sold I had @Tamalewagon wife Pam list, place was in north county and that’s in their area. Both Scott and Pam are always a pleasure to work with, me not so much, but they put up my my antics 😂

The house was dialed, like OCD dialed, top to bottom, broke out all the parlor tricks and turd polishing skills. I knew my market when we listed, sitting on the nuts hand as there was no other product like it within 5 mile radius. Gated community, single story, clean as a pin, drought tolerant landscape, about as easy a house to own as you could ask for.

Full price offer came in immediately asking for 10 day escrow, Pam called me all excited and advised we take it, I asked her to counter at $20k over, she told me I was already $30K over market, and then said “as you wish” and made the counter offer for me at $20k over 😂 shortly later she called back and let me know they took it and we just hit $50k over current market. I’m guessing she caught an earful of shit from the buyers agent 🤔

That 10 day escrow was a whole other shit storm of activity she had to navigate, she earned the shit out of her commission on that one. 👍

The rules of realestate are, there are no rules😉
 

RiverDave

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Last house I sold I had @Tamalewagon wife Pam list, place was in north county and that’s in their area. Both Scott and Pam are always a pleasure to work with, me not so much, but they put up my my antics 😂

The house was dialed, like OCD dialed, top to bottom, broke out all the parlor tricks and turd polishing skills. I knew my market when we listed, sitting on the nuts hand as there was no other product like it within 5 mile radius. Gated community, single story, clean as a pin, drought tolerant landscape, about as easy a house to own as you could ask for.

Full price offer came in immediately asking for 10 day escrow, Pam called me all excited and advised we take it, I asked her to counter at $20k over, she told me I was already $30K over market, and then said “as you wish” and made the counter offer for me at $20k over 😂 shortly later she called back and let me know they took it and we just hit $50k over current market. I’m guessing she caught an earful of shit from the buyers agent 🤔

That 10 day escrow was a whole other shit storm of activity she had to navigate, she earned the shit out of her commission on that one. 👍

The rules of realestate are, there are no rules😉


oh there’s common sense rules..
 

whiteworks

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oh there’s common sense rules..
For sure, but the RE market in general is about as Wild West of a legit industry as there ever was. As I’m sure you’re more than well aware of at this point, every deal has its own uniqueness. I’m no real estate guru by any means, however I can say that I’ve enjoyed both the buying and selling side of it, sometimes realtors have been used and very useful, other times there services were not required.

Fortunately I’ve never had the experience of using a shitty realtor, it’s really too important of a thing to let a dip shit get in the middle of has been my thought 😂

So I’ll close with this, if you’re going to use a realtor, use the best fucking one you can find 👊
 

RiverDave

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For sure, but the RE market in general is about as Wild West of a legit industry as there ever was. As I’m sure you’re more than well aware of at this point, every deal has its own uniqueness. I’m no real estate guru by any means, however I can say that I’ve enjoyed both the buying and selling side of it, sometimes realtors have been used and very useful, other times there services were not required.

Fortunately I’ve never had the experience of using a shitty realtor, it’s really too important of a thing to let a dip shit get in the middle of has been my thought 😂

So I’ll close with this, if you’re going to use a realtor, use the best fucking one you can find 👊

Well I guess the question is would you say more towards the top of the talent? Or further from the bottom of the talent?

lol.

RD
 

LuauLounge

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Read every post.
First comment, everyone is in sales. Looking for a job, you’re selling yourself. Promotion, same.
Contractor, same.
Go down the list, may not be #1 on your list of duties, but it’s there.
Bought a vaca/retirement place a few years back. 1 year home warranty was included with the purchase, Very basic, but gave the buyer the option to upgrade and took some responsibility off the agents. Same place, HOA was underwater, however, they had a full audit done, so we knew where we stood. Had our agent reduce our offer the amount of our share as if the the HOA were 100% funded. Seller countered and we said no, 20 minutes later she accepted.
Good agents are out there, shop for them.
I haven’t sold a pice of property since’90. I most likely will use an agent. With alll the changes in consumer protection, I don’t think I want to go it alone.
 

badgas

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What I can't stand are the ( dishonest ) agents that ghost people when offers come in from buyers agents. They are trying to double end the deal and blow people off waiting for someone with no representation.

Happens all the time ( in So Cal ) and they should lose their license for it. I remember a friend setting up an agent who was doing that. The listing agent was not responding to their offer and ghosting them so they had the MIL call the listing agent saying she wanted to buy the house directly through her. The listing agent magically became motivated answering calls etc. When my buddy and his wife showed up to the meeting after the MIL they told the homeowner that their agent had been hiding offers 😂 the agent when pale and speechless. She was reported but I never heard if she was dinged for it.

there are good and bad people in ALL industries.
 

RiverDave

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What I can't stand are the ( dishonest ) agents that ghost people when offers come in from buyers agents. They are trying to double end the deal and blow people off waiting for someone with no representation.

Happens all the time ( in So Cal ) and they should lose their license for it. I remember a friend setting up an agent who was doing that. The listing agent was not responding to their offer and ghosting them so they had the MIL call the listing agent saying she wanted to buy the house directly through her. The listing agent magically became motivated answering calls etc. When my buddy and his wife showed up to the meeting after the MIL they told the homeowner that their agent had been hiding offers 😂 the agent when pale and speechless. She was reported but I never heard if she was dinged for it.

there are good and bad people in ALL industries.

They should be barred from selling re if they do shit like that
 

angiebaby

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Normally I agree with you on most things but it’s a little more complicated than that.. same reason jeff said when he lists his contortions he’d absolutely use a broker.. who’s paying the commission? The buyer the seller or is it a combination of a myriad of things that add up
To a service?
Absolutely. My point was that it's very simplistic to state, "the seller pays the commission." It's much more complex than that and could be viewed differently by different players in the transaction. I was offering the buyer's perspective as an example.
 
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Sportin' Wood

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Full price offer came in immediately asking for 10 day escrow, Pam called me all excited and advised we take it, I asked her to counter at $20k over, she told me I was already $30K over market, and then said “as you wish” and made the counter offer for me at $20k over 😂 shortly later she called back and let me know they took it and we just hit $50k over current market. I’m guessing she caught an earful of shit from the buyers agent 🤔
This is precisely what has bugged me about some of the agent experiences we have had. We nearly fought with the agent on the listing price for the house in Reno, and she hesitantly listed at the price, telling us we were nuts. It still went above our "Crazy" asking price and way above the proposed price she suggested. The same boat, the house was mint, staged by us, and completely remodeled from top to bottom. Less than 30 day of escrow is a shit show, and I will be hard-pressed to do that again.

It would be nice to have an agent that is set on kill mode to get as much value for me as possible on either side.

For many people, a home purchase or sale is the primary form of making measurable ROI. It seems reasonable to me the emotion that gets tied up in the transaction and the high expectations of the people helping to navigate the sale.

I had an experience with one of The RDP agents I won't forget while she was qualifying us. She asked why we were interested in a particular type of home and laid out why we should reconsider based on our age, budget, and needs. It was powerful. "Why would you want to buy this and dump a bunch of money into this place and trade your time, when you can buy something turn key and roll the added expense into your mortgage?" She was right. While we ended up buying another house in Montana rather than LHC, her words resonated with me and changed my mindset. When we are ready to buy in LHC I will certainly be back at RDP.
 

whiteworks

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This is precisely what has bugged me about some of the agent experiences we have had. We nearly fought with the agent on the listing price for the house in Reno, and she hesitantly listed at the price, telling us we were nuts. It still went above our "Crazy" asking price and way above the proposed price she suggested. The same boat, the house was mint, staged by us, and completely remodeled from top to bottom. Less than 30 day of escrow is a shit show, and I will be hard-pressed to do that again.

It would be nice to have an agent that is set on kill mode to get as much value for me as possible on either side.

For many people, a home purchase or sale is the primary form of making measurable ROI. It seems reasonable to me the emotion that gets tied up in the transaction and the high expectations of the people helping to navigate the sale.

I had an experience with one of The RDP agents I won't forget while she was qualifying us. She asked why we were interested in a particular type of home and laid out why we should reconsider based on our age, budget, and needs. It was powerful. "Why would you want to buy this and dump a bunch of money into this place and trade your time, when you can buy something turn key and roll the added expense into your mortgage?" She was right. While we ended up buying another house in Montana rather than LHC, her words resonated with me and changed my mindset. When we are ready to buy in LHC I will certainly be back at RDP.
On the flip side of this I’ve been completely out of line with asking prices aswell. One of my dads buddies used to just walk up to chicks in the bar and ask if they wanted to screw, 9/10 times they said no, just some food for thought about the ask😂

I’d like to do some spec builds down the road, been thinking a lot about what would be the ideal product. I’m not a fan of big houses, and it seems every few years my taste for esthetics changes, currently I’m really into barndo’s, I like the almost zero exterior maintenance aspect of a steel building.
 

Englewood

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What I can't stand are the ( dishonest ) agents that ghost people when offers come in from buyers agents. They are trying to double end the deal and blow people off waiting for someone with no representation.

Happens all the time ( in So Cal ) and they should lose their license for it. I remember a friend setting up an agent who was doing that. The listing agent was not responding to their offer and ghosting them so they had the MIL call the listing agent saying she wanted to buy the house directly through her. The listing agent magically became motivated answering calls etc. When my buddy and his wife showed up to the meeting after the MIL they told the homeowner that their agent had been hiding offers 😂 the agent when pale and speechless. She was reported but I never heard if she was dinged for it.

there are good and bad people in ALL industries.
It can happen but very rare. I had an agent accused of doing this. She was cleared but it was an absolute cluster F to get to that point. The DRE and local associations don't play. This type of behavior is not commonplace.
 

Sportin' Wood

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😂

I’d like to do some spec builds down the road, been thinking a lot about what would be the ideal product. I’m not a fan of big houses, and it seems every few years my taste for esthetics changes, currently I’m really into barndo’s, I like the almost zero exterior maintenance aspect of a steel building.

Thread Hijack:

I've been thinking about Barndo builds as well.
 

Ace in the Hole

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You had me at big tits
Ironically I also love the Tata's. I need to touch base with you sooner than later. I've got to make a lot of decisions before august on housing that impacts decisions I'm going to make on my day job. Been loosely looking, but this water rights shit around here is a mess. I think you have my number but lets try to get in touch in the next couple of weeks, I need a house in CC preferably or very close, and you know the market lol.
 

badgas

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It can happen but very rare. I had an agent accused of doing this. She was cleared but it was an absolute cluster F to get to that point. The DRE and local associations don't play. This type of behavior is not commonplace.
Not common but still happens.
 
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