Do You Know What Your Realtor Is Up To? The Good, Bad and…Well, Okay, I’ve Not Really Met Any Ugly Realtors in South Florida
There have been a lot of changes in the real estate industry over the past year. Many of us have done our due diligence and have gotten up to speed on the ever continuing patterns, changes in procedures and such like in the marketplace. Being a Realtor takes a lot of work and research to make sure that our sellers are getting the highest and best price on selling their homes and that our buyers are getting the best value for their dollar. It is also important (especially during this changing market) that our clients have realistic expectations as to how the process works and keeping them up-to-date on the changes.
Throughout this past year, I’ve come to understand why Realtors are given a bad rap, especially here in South Florida. I’ve also had some great experiences with the few of us who really do work for our clients, joining together as a team to help both the buyers and sellers alike to secure the sale and purchase of properties in a seamless and expedient manner.
While I like my blogging to be positive, I also want potential buyers and sellers to be well informed and understand what really happens in the real estate market as so you are sure to interview your Realtors accordingly (you might think your Realtor is a dream…but how are they handling your listing or purchase with other Realtors?). Find someone that you know and trust is working with your best interest in mind. Here are some examples of what I’ve experienced just in the last year. Notice that I will not slam anyone in particular (you know who you are), but will not hesitate to give kudos directly to those of whom I have most appreciated their work. And, in some inadvertent and twisted way, I do thank the Realtors of whom conduct the below lazy practices...after witnessing the lack of care you have for your clients, when my clients tell me how greatful they are and thank me for my work and attention, I hold true-to-heart the praise that I receive.
The Bad Experiences with Buyer’s Agents:
• Receiving offers from Realtors via email, without ever receiving a phone call confirming that the listing agent ever received the offer – As a buyer, wouldn’t you want to know that your Realtor is following up with the listing agent on the offer that you are putting in? Wouldn’t it be nice, before you spend a bunch of time putting together and signing off on your offer, for your Realtor to have called the listing agent to try and get a feel for whether your offer would be considered, to find out if there are other offers and if so, know that yours is competitive in nature?
• Receiving offers on condos with a Homeowner’s Association Addendum rather than a Condo Association Addendum (and no maintenance fees filled in with the buyer’s signature). – As a buyer, wouldn’t you want to know what your maintenance fees are going to be before signing off on your offer? Wouldn’t you want your Realtor to explain to you what you’re signing off on? Do you really feel comfortable signing a legal binding contract that isn’t filled out?
• Receiving offers with many areas of the contract not even filled out, inclusive of the buyer’s and Realtor’s contact information. – As a buyer, what if something happened to your agent? How would your Realtor’s broker know how to get in touch with you regarding any status on your offer? Though the listing agent could do research to track down the buyer’s agent’s office, it sure would save a lot of time and frustration to have this information readily available to contact someone at the agent’s office to discuss the status of the offer.
• Sending an email with a list of three straight-forward questions to the buyer’s agent regarding an offer, only to get a response saying “Thanks”. – Is this how you would want your Realtor to communicate with you? The communication between the buyer’s agent and the listing agent is vitally important to conduct a smooth transaction that closes on time.
• Receiving a cash offer on a property where the buyers waive their right to an inspection, nor have an appraisal conducted. – Wouldn’t it be worth a few hundred dollars for an inspection to know if you were encountering buying a property that might need thousands of dollars in work? What about an appraisal? Has your Realtor run the sold comparatives for you to be sure that the offer you are putting in is in line with what has been sold in the area? What if you spent a few hundred dollars on an appraisal to find out that the appraiser is valuing the home you are planning to purchase for $10,000 less? Wouldn’t it be worth it to then be able to renegotiate the sales price? Unless the sellers were to contest the appraisal, that appraisal price will remain for 6 months.
• Receiving an offer from a buyer’s agent, and then the listing agent leaving them voice messages and emails in return to come to a more feasible price without a response from the buyer’s agent. - Wouldn’t you want to know that the offer you put in on a property is being countered? Wouldn’t you want to know what the counter is?
• Realtors helping potential buyers before they come in town and then once the buyers are in town to buy, they get dropped cold. - Don’t you want a Realtor who is going to stick with you? True, spending time at the beach when you get left in the cold (well, here in the sun and sand) isn’t the worst thing, but if you’re here to buy, make sure your Realtor won’t also be at the beach!
The Bad Experiences with Listing Agents:
• Calling and emailing to schedule a showing for a property (even multiple times) and not getting a call back. – Wouldn’t you want your listing agent to answer or return phone calls and emails so a potential buyer can see your property?
• Submitting an offer to the listing agent via fax and email, while leaving voice messages to follow up on the offer with no return phone call or email. – If you have your property listed and were getting offers, wouldn’t you want to know that your Realtor was following up on the offers and even trying to negotiate on your behalf?
• Listing condos for rent in a community where rentals aren’t allowed. - Wouldn’t you rather have a listing agent who communicates with your management office to be sure that rentals are allowed before you list it? What if you did end up renting it and the management office found out, the renter gets kicked out and now you have a lawsuit? Would it be worth it?
• Listing agents on vacation without a backup partner assigned to show your property or communicate on their behalf. – If your listing agent is out of town, wouldn’t you want to be sure that your property can still be shown? It is South Florida and there are a lot of out-of-town buyers that come in town for just a few days to find a new home.
• Listing agents with incorrect or disconnected phone numbers on the MLS report…and even full voicemails. - Don’t you want to be sure that potential buyers and buyer’s agents are able to contact the listing agent?
• Listing agents who don’t advertise your property beyond that of putting it in the MLS. – The large majority of buyers begin their search on the internet. - Wouldn’t you want to know that your listing agent is going to be advertised in multiple places on the internet?
• Multiple fields in the MLS not filled out. – Many buyers have special requirements for what they want in a new property, whether they are an investor and want to buy to lease out, whether they are 55+ and want to be in such a community, they want a pool, they need elevator access, they want in a high rise, they have a minimum requirement of square footage living area, etc. Don’t you want the highest visibility possible for your listing? By not having these filled out, buyer’s agents who conduct searches based upon these fields not completed will not get such listings in their search results.
• No photos, few photos and only outside photos in your listing. – If you were searching for a new home, wouldn’t you want to see as many photos as possible to help narrow down the search for what you’re looking for? What do you believe buyers think the inside of your condo looks like if there are no inside photos, do you think they even want to bother seeing it? Buyers like photos, internet search engines love photos and put the listings with the most photos at the top of the search results. Don’t you want your listing at the top?
• Listing agents who don’t drop by and check up on your vacant property. – Would you want potential buyers to walk into your listing to find that a cat or dog got into your screened porch and left feces everywhere? Or what about if someone came to clean out any belongings for you and left broken glass on the floor? Have you heard of squatters? There are squatters who get into vacant properties and, believe it or not, they have legal rights and it’s a tough battle to get them out!
• Listing agents with no idea of how to fill out a lease and asking the renter’s agent to do all of the work for them and not change contract terms to reflect appropriate changes. – There are times that emergencies happen and both agents have to help one another out, but wouldn’t you want a listing agent who knows what they’re doing, explains to you what the terms of the contract are that you are agreeing on?
THE GREAT EXPERIENCES:
Now that I’ve ranted about the bad things, I’m pleased to share with you the great Realtors and other related people that I’ve encountered working with over the past year. While some people (Realtors especially) might think that I am crazy to consider naming other Realtors for fear that there might be a potential buyer or seller reading this who just might pick up the phone and call them, I would much rather the general public be able to have a positive experience and help build up a highly recommended reputation for Realtors in Broward County. If you fall on the below list, please know that you’ve helped in giving Realtors a good name, I will be toasting to you this Thanksgiving Day and that I will always look forward to working with you in the future! These are in no particular order…
Patty Accorto, Realtor – When I had a client come to me while in town (after being dropped cold by another Realtor) and needed to find a condo to buy and move into within 45 days because their child was going to school, you came to the rescue. I phoned you on one of your listings explaining the predicament; you helped make sure we could get them approved through the association in time. Once my buyers saw and liked the unit, we negotiated together to make sure you came to a price your client would be happy with, I worked with my clients to be sure we were at a price they were happy with, agreed, put it in writing and had our executed contract within two days. You kept me abreast of everything happening with the title company, while I made sure my clients had everything on their end to meet the financial commitment and we were prepared to close the week prior to closing!
Caroline Carrara, Broker, EWM Las Olas – I commend Caroline for creating one of the most friendly, family-oriented real estate offices which is above and beyond what I could have ever expected. There’s always at least one of those Realtors who’s only in it for themselves in every office…not this one! Caroline has brought in the best-of-the-best and I’ve not yet encountered a Realtor in our office that wouldn’t help lend advice, share experiences and provide new updates whenever discovered. She plays an integral role in the community (Las Olas Committee) and brings in experts to our weekly meetings who help to be sure that we as a team are receiving the most up to date changes in the industry. I admire Caroline’s tenacity. You are always there for support and step in whenever needed to help make things happen. I am so happy that after interviewing with over 10 offices that I came across your office…I’m most greatful and proud for every day that I step into your office and surround myself with those who I have such great respect!
Amy Ostrau, Realtor – My buyers loved your listing and after wanting to live in this community for years, given the changes in the market were finally able to make their dreams come true and buy their dream home. You were great during the negotiation process to help make sure that we both came to a reasonable sales price. Though the appraisal ended up coming in lower, you worked diligently with your seller and me with my buyer so we could come to a mutual agreement that worked for both parties. Your communication was unparalleled and we both ended up having one of the most fun closings I’ve attended. Again, a smooth transaction that closed on time!
Tom Cappellino, Realtor – While we are still working together, you’ve been an excellent communicator; have followed up immediately on my calls from the first day I contacted you for my clients to view your showing. While my investor was in town for a very short period of time specifically to buy a place, your communication was vital in making sure that we were under way with an executed contract prior to his departure and it was clear that you worked strongly on behalf of your clients.
Jeff Runge, Realtor – Upon my buyers coming in town to buy an investment property, your timeliness and communication has been most appreciated to help get an executed contract while they are in town. You’ve always delivered upon your expectations and follow through in a timely manner. While we are continuing to work together to get this one closed with hopes of an early closing (fingers crossed on the appraisal), I am sure we’ll make this one happen…a dynamic duo at it’s best!
Bryan Sawchuck, Realtor – We all know that rentals can be tough, especially when it comes to trying to coordinate with association approvals. You’ve definitely been working hard, communicating so well that I never have to pick up the phone to see where we are in the process. From the time my client saw your listing, to three days later when we had an executed contract, you’ve continued communicating with the association to get the tenant’s interview scheduled and complete it full-circle as so I am never left with unknowns. Here’s an agent who goes out of his way and from what I can tell, treats every client equally.
Patti Reid, Realtor – You’ve been very kind in sending me referrals and serving as a highly admired mentor to me. You are deserving of the many clients who continue working with you over the years…you read your clients very well, communicate at an unparalleled level and don’t hesitate to help others and share your experiences. We could all learn great things from you!
David Cook, Realtor (Indianapolis, IN) – Upon interviewing a few Realtors over the phone through our relocation department to help a family friend in selling her home, you definitely stepped up to the plate. Though the seller was going through some really tough life changes, you were there to be realistic, helped support her and got the home sold in a record two months in a tough economy! Wow, David…I wish I had more buyers that want to live in Indiana. But, once I come across any, I’ll be in touch. Thanks for a job very well done!
Robert Fountain – Mortgage Loan Officer, Bank of America - You helped in getting the financing commitment for one of my buyers a week early with only 35 days to close! We all know this is rare thing these days. You were thorough, touched based when necessary. Thank you!
Ray Kedzerski, Realtor – After a short-lived bumpy start, I realized that you were working with the best interest of your seller and we both came together to work as a team. I thank you for your extended efforts in trying to make this sale go through…I look forward to the opportunity to work with you again in the near future.
Broward Title – With my buyer arriving in a moving truck the day before their closing, you made sure we had the HUD and everything in order as so an extended stay at a hotel wasn’t necessary for my buyer. Job well done!
Misty Slater, EWM Title – You’ve made sure to it that my clients have closed on time and that they were well-prepared as to what to expect for the closing. While we all know that closings can be boring, timely and give everyone writer’s cramp…you certainly make closing on buyers and sellers homes alike great fun! Thanks for making the closing of a real estate transaction a positive and memorable experience.
Sylvia LePage, Mortgage Consultant, HomeServices Lending – Awesome, awesome, awesome! Now here is a woman who knows how to work for her money! While there are only a couple of lenders who work on foreign international loans in South Florida these days, Sylvia is extremely knowledgeable of what is happening in the marketplace and does whatever is necessary to work with underwriters and their teams to make sure that all deadlines are met (of whom surely are overwhelmed with stacks on their desk being that hardly anyone does them anymore). She delivers realistic expectations to my buyers, making them feel confident that they are her priority and is an excellent communicator. I always receive updates when necessary and know if anything needs to be escalated that she’s on top of it. For those who are not yet in the buying process, but are considering it, Sylvia is a great advisor and time after time, she is selected over other lenders.
Boyce Ann Bryant, EWM Las Olas Administrative Assistant – Boyce Ann completes the work that many offices have multiple administrators do. She is caring and diligent, treats my visiting clients with great respect and kindness. Boyce Ann makes sure to it that all of our offices listings don’t miss one field in the MLS, our files are in order and that everything is complete. She has been a great advisor, mentor, friend and confidant. She lends a helping hand whenever needed and is one of the hardest working women I’ve met.
Scott Neitzel, President, HomeServices Lending – Whenever on a tight deadline, you’ve always been there to make sure that the job at hand is completed and on-time. You’ve earned my full trust and admiration for HomeServices and all of their hard work. I thank you for going out of your way! Thanks to you and your team, I have yet to experience a delayed or missed deadline…way to run an organization!
ALL OF MY CLIENTS – I’ve been so fortunate to have encountered such excellent clients! Each and every one of you is appreciated and I will be toasting to you this Thanksgiving. I love being a Realtor and working with you makes me love it even more!
