Things sellers and buyers don’t know about their agents

26 Apr 2013 · by ChrisSampaio

As agents, we have to coexist with other agents, this can be a frustrating task. A lot of times we wish the clients knew what kind of agents they have working for them. Why are they paying the same commission and getting half of the service? Below are some of the issues that I found throughout the years.

1) Non responsive agents. They dont reply to email or calls or take a few days to do so.

2) Agents that hold off on listing the property in the MLS, so they can get their own buyer.

3) Agents that never show property and just put a lock box on the door and a code in the MLS. Isn’t your job to sell the property? How can you do that if you are not there???

4) Agents that dont want to work nights or weekends  I totally understand that it sucks to works after-hours,  but if you want a 9 to 5 job go work in a bank. Some buyers work all week and can only see places during those days and hours.

5) Agents that are running late to an appointment and call you at the time of the appointment or don’t call you at all.

6) Agents that don’t present offers to the seller and keep holding them until they have their own offer. This is illegal by the way, but I see it all the time.

7) Agents that take a lower offer just because they are double ending the deal. The seller is losing money on this one.

8) Agents that are rude to other agents. This is a relationship business. If your agent has a bad reputation it can make it really difficult to sell or buy a place. Agents like to work with agents that they like, this is specially important on multiple offers. Some agents are just known for being difficult or unprofessional. Most of the time is really hard for you to know that as a client. Only agents know who the good agents are.

There are a lot of bad apples in this industry, make sure you know who you are hiring to sell or buy a place.

 




What NOT TO ask

26 Apr 2013 · by ChrisSampaio

 

Questions

I  am primarily a listings agent, selling is my thing. I love marketing and coming up with selling strategies. In this ten years selling Real Estate and got asked tons of questions. Below is my list of things that I think you should not bother with, either because is not important or will not change anything.

 

What NOT to ask

1) How much did the seller pay for the property? Whatever he paid is not important  What is important is market value and how much you are willing to pay. Buyers worry about this a lot. I have a few investor clients that flip LOFTS and they make a good profit. This is a business for them, some people are lawyers and some prople sell shoes. They sell Real Estate and to make a profit. Most likely they bought at a discount and thats why they are making money.

2) Who is the seller? The seller is a person like you. The only important thing is that he is the owner of record. If he is old, young, tall, short or fat does not change anything.

3) What is the best price you can do? The best prices is above listing price. I do see agents that will quickly reply: “He can go lower” or “We have some room”. Make an offer and you will see. Talk is cheap, you have to put it on paper. As a listing agent our goal is to get the most money for the seller, giving a discount to the first person that asks does not help us achieve this goal.

4) Do I get a discount if I pay cash? Sometimes, but not most of the time. The end number to the seller is the same. Cash is just quicker and easier. It makes a big difference if you are competing with other offers, but otherwise the seller cares about the final number.

5) How much is the loan on the property? None of your business, the price is not based on that. Even tough most of the time your agent can find out this information.

6) Why is the seller moving? Not that important  if is for a negative reason like loud neighbors or other problems, most likely he is not going to tell you, ven tough by law you have to disclose all this stuff and you can go after him later if you can prove that he knew.

I think these are the most annoying and unimportant questions that I get asked all the time. If I think of something else I will add it up.




Barker Block final phase

23 Apr 2013 · by ChrisSampaio

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From Curbed LA: There was yet more good news last week for the for-sale housing sector in the Arts District last week, as developers and politicians gathered to celebrate construction of the final phase of the Barker Block development. When complete, the development will comprise more than 300 residential units at the site of a former furniture manufacturing factory on Hewitt Street near the LA River. The second and final phase of the development will add 68 loft and townhouse units to the existing 241 live/work lofts that came online before the crash in an adjacent building on the same site. When complete in late 2013, the final phase will add 72,451 square feet of residential space to the development site, with an average unit size of 1,065 square feet (650-plus square feet to 2,000-plus square feet for lofts and 1,100-plus square feet to 1,300-plus square feet for townhouses).




Detroit Building

19 Apr 2013 · by ChrisSampaio

ISy5e8tzbtlh2bThe fun thing about this job is that you are always finding new places. The other day I was on Caravan (Brokers Open Houses) and stumble on this building in Hollywood. Is a very small building and was built in 2007. The listing didnt last very long and is already in escrow. 

 

 

 

 

 

 

 

 

 

We're sorry, but we couldn't find MLS # 13662311 in our database. This property may be a new listing or possibly taken off the market. Please check back again.




Infographics

5 Apr 2013 · by ChrisSampaio

I always loved infographics, I think its a easy and great way to display information.

I have a Graphic designer make one for the Loftway Report. I think he did a good job.

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