Archive for September, 2009
So I went off on a bit of a tirade yesterday with a home seller here is Seattle. I won’t post her question because I will try to protect her anonymity. The post was originally to Trulia and asked a question regarding cutting the agent out of a transaction.
Every time I go off I like to share. This is more for the amusement of my re brethren, but all are welcome to enjoy. Thanks for being part of my therapy.
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All of us who have been in the business for more then a few weeks have been burned by tactics like this. As buyer’s agents we work hard for our clients sometimes for long periods of time. Since we don’t get paid unless a sale closes, we run the risk of a client changing their minds or using another agent at the last minute or cutting us out all together to negotiate a better deal with the seller.
I don’t know what you do for a living, but imagine being given a project by your boss. You work diligently on it for 6 months and then a month before its completion with most of the hard work already done, your boss simply decides to let you go and doesn’t compensate you for your work. If this kind of thing happened in any other industry, there would be successful lawsuits left and right, yet for buyer’s agents this kind of thing happens quite frequently.
You can imagine how angry you would be, and I imagine this agent would be just as angry.
You need to live with your conscience, but I would recommend having at least one agent involved in the transaction. A real estate transaction is a dicey proposition in the best of times. In the middle of a recession with the banks, appraisals, inspections, sewer scopes, title, escrow etc. issues to be dealt with, I think it would be crazy not to have both sides represented by agents.
We as agents get paid well (when clients deal with us ethically) to make sure that a transaction goes as smoothly as possible and protects you from future litigation. The courts are filled with cases of people who tried to save a few bucks and do the job themselves only to loose much more and regret not using an agent.
How much time do you spend researching and negotiating a new TV or a car. Yet to sell a house for several hundred thousand dollars, you are just going to wing it on your own?!
Unfortunately in many cases we as agents have done our job too well. Every homeowner thinks they can sell their own home and every buyer believes they can negotiate a better contract then an agent. I think that as the result of our own skill, we have given the illusion that our job is easy and straightforward. Nothing could be further from the truth. A good agent not only has a license, but years of experience. Each of us will tell you that no two transactions are the same and each brings more knowledge that we will use to make us better agents moving forward.
Trying to negotiate the sale of real estate on your own is stressful, frightening and in can be very very costly if not done correctly. Not to mention putting you at considerable risk for future litigation. With all do respect there is a reason why we get paid, and yes in many cases paid well, to do our jobs. We are worth it.
One last point. My sister bought and sold a house last year. She lives in NJ where I am not licensed and I could not represent her. My advice to her was to find the best agent she could, pay them a full commission and do exactly what they tell you to do. It is good advice I give to all my out of state friends and family. My sister is in a new home and her old home sold in a declining market in well under the average time. She is happy and my nieces are contently in their new school as I type. My brother-in-law is not so happy but that’s because he is a Redskins fan not because of the house. He actually loves the new house.
I wish you the best of luck. The old adage is true. You get what you pay for. If you choose to pay nothing. You get no security, protection, or assurance.
Good Luck
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Rob Graham
Accredited Buyers Representative
Windermere Real Estate
206-321-6349
Popularity: 4% [?]
If you are thinking of buying a home in Seattle in the near future, you are no doubt wrestling with trying to figure out how to come up with the money to be able to make your move. Fortunately there is help. A Mortgage representative I have worked with in the past and really trust is offering a seminar on how to budget yourself to a new home. Here is the e-mail that I received from them:
Join us September 15th and October 20th for the final installment of our 2009 Family Finances Series, “Budgeting in Real Life” with Mindy Crary, MBA, Certified Financial Planner®. The course will identify the many pitfalls that make money-management in everyday life such a challenge, and provide realistic solutions to stretch your dollars a little further. We all have clients who are struggling to save up for their down payments or simply want to be more financially savvy – please extend this invitation to them!
To register for the course call: 206.789.8629 or email: Jessica@salmonbaylending.com
Both sessions will be held from 7:00-8:30pm at Salmon Bay Community Lending:
1502 NW 52nd St.
Seattle, WA. 98107
Suggested donation: $10
Space is limited, so reserve your seats early!
Chief Loan Officer
Salmon Bay has offered a variety of classes in the past on many financial topics. Feel free to contact them if you have any interest in finding out what else is available.
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Rob Graham, Accredited Buyer’s Representative
Windermere Real Estate
206-321-6349
Popularity: 6% [?]
Here is a great video to explain the first time home buyer tax credit.
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Rob Graham, Home Buying Specialist
Windermere Real Estate
206-321-6349
Popularity: 3% [?]
Hey kids. Just a quick reminder. The $8,000 first time home buyer tax credit is set to expire this November. Keep in mind that it isn’t enough to have a home under contract by the end of November:
The home needs to have closed by November 30th.
If you have a contract on a home that is set to close in December, you will be out of luck.
Also keep in mind that for FHA financing, which is currently the most common loan type, closing is frequently taking longer then the traditional 30 days. So considering it is now the second week of September, if you are hoping to take advantage of the first time home buyer tax credit, you should be aiming to be under contract on your first home in the next few weeks.
Give me a call today if you want to get started on the process.
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Rob Graham, Home Buying Specialist
Windermere Real Estate
206-321-6349
Popularity: 26% [?]
Here are all of the approved condo complexes in zip code 98122 in Seattle’s Capital Hill Neighborhood.
1111E Pike Condos
1515 E Union Condos
16th Ave Townhomes
1800 Boylston Condos
1819 17th Ave Condos
18th Ave Condos
19 Alder Condos
21 Cherry Condos
Ambassador 1 Condos
Belcourt Place Condos
Bungalow Court Condos
Central Park E Condos
Cherry Hill Court Condos
Cherrywood Condos
Columbia Condos
Fir St. Townhouse Condos
Fleur De Lis Condos
Franklin Condos
Garden Court Condos
Hill House Condos
Ivory Coast Condos
Madison View Condos
Maison Jiselle Condos
Maison Ville Condos
Manhattan Plaza Condos
Parc on Summit Condos
Pine St. Cottages
Seventeen 07 Condos
Spring Park Condos
Squire Park Place Condos
Trace N Condos
Villa on Terrace Condos
Waterworks Condos
If there is a specific zip code you want to know about, don’t hesitate to ask.
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Rob Graham, Accredited Buyer’s Agent
Windermere Real Estate
206-321-6349
Popularity: 6% [?]
ABOUT
Call today for a free consultation on how you can find the home of your dreams. 206-321-6349 or simply visit my web site www.robgrahamrealestate.com
