Today on the wire - three stories that are bound to get your tizzy in a knot :) We have Hidden Home Listings - Appraisers making realtors upset - Flipping getting expensive.
When you are looking to buy a home, you may not trust your agent 100%. Heck, when you look at the world view of real estate agents, I get that. So, you decide to venture out onto the WWW and start your own home search. "How hard can it be", you say. You do some real estate inquiring in Google or Bing. Typing in the city name followed by the words "Real Estate". When you do you get several results on page one. You get some of the "local results". Then underneath of those you get the Big Real Estate Syndication Websites. You click on a couple and find one that has a search engine for real estate that seems simple. You type in the price range, choose your bedrooms and bathrooms followed by the city of preference.
OMG - look at all of those listings. Some of those are "pre foreclosures", wow, "why hasn't my agent shown me listings like this?" "Some of those home are really cheap..."
At this point, some clients will call their agent and ask them for the "delio"... Most don't. Most enter their personal information only to have their personal information sold to many of the real estate agents that are members of that real estate syndication websites. (Heck, that is how they stay in business and how their business model is built - selling leads to real estate agents that pay for the leads they generate for them...)
Be careful when searching for the homes on-line. Make sure your real estate agent of choice, in the city you want to live in, gives you a system to search for real estate that will keep your personal and private information protected. Ours is located at our Main Website for Santa Clarita real estate - Paris911
Another story that we were following was about the appraisers are making local Real Estate agents a bit upset. This is due to the values they are coming back with during the appraisal process. Before you jump to conclusions - this applies to both Sellers and Buyers. Agents representing sellers that have explained through factual data that their home is going to sell for a specific amount. It also applies to buyers agents that have explained to their clients how much to write specific offers for.
The fall apart point for either one of the scenarios comes in the way of "greed". Most agent are doing their best job because they base their business on referrals. Some don't think that way and just want to get paid. If I were you, I'd work with the agents that base their business off of the referral real estate business model.
If the agent is hungry, they will have have their client write an offer for more than a home is worth. The appraiser may then come in and say the home is not worth that much. The seller may then reject the appraisal and the deal is dead.
Or - you may have a listing agent that tells their seller that they can get more money for their home than any other agent that they had interviewed to that point. In this way, the agent is securing the listing by stating the Highest Price. The seller lists the home with that agent and the agent cannot secure a buyer at that level. Or they do and the appraiser comes in and says the value of the home and the maximum amount the bank will lend on that home is less than the seller can part with and they cancel the deal.
Hire real estate agents that are based on the referral system and not based on "paychecks".
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