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Posted: 8/6/2005 7:15:42 AM EDT
[Last Edit: 8/6/2005 7:17:09 AM EDT by migradog]
Bought a condo though him 2 years ago as an investment, and he was supposed to be my property manager.
Got me 2 deadbeat tenants, both who had to be evicted. (Long process in CA)

So I decided to sell it in May and on his advice left it vacant, so it would show better to prospective buyers.

The sorry son of a bitch has done nothing to it since then!!!, No cleaning, No painting..Nothing!!!

I made a suprise visit, driving down from WA on Monday and found weeds as high as my waist, 3 different colors of paint in each room, a roach infestation and 2 year old carpets thrashed. The bathroom was missing the shower curtain, rod and even the shower head was gone!! Kind of explained why my unit hadn't sold, while several others in the complex had.

All the while he had told me it was in great shape and showing well. It had also been in escrow once, but feel out costing my a couple of choice properties in WA.
So...While I'm spending part of my vacation cleaning the place up, another realtor stops by and tell me she had at least 2 peple interested in it, but the bought other units because mine looked so bad.

Arfcom laywers, Do I have a case for non-performance or something along this line?
The whole time he was telling me and my WA real estate agent the place was clean, the paint looked good and that the unit showed well to prospective buyers.

Link Posted: 8/6/2005 7:18:50 AM EDT
[Last Edit: 8/6/2005 7:21:09 AM EDT by Jack19]
You didn't think he was a great guy after getting you deadbeat tenants did you? What makes you think he suddenly became a great seller's agent?

Clean up and find someone else. Did you get the name of the other agent who mentioned that she had people interested? She's obviously selling iin your area where your guy is not.

Call her.
Link Posted: 8/6/2005 7:25:14 AM EDT
I kept him because he sold my last house in 3 days 2 years ago.

I still have a contract with him, so I don't know if I can change agents at this point.

I am cleaning the place up and talking with another agent, but due to my listing contact may not be able to change realtors.
Link Posted: 8/6/2005 7:27:59 AM EDT

Originally Posted By migradog:
I kept him because he sold my last house in 3 days 2 years ago.

I still have a contract with him, so I don't know if I can change agents at this point.

I am cleaning the place up and talking with another agent, but due to my listing contact may not be able to change realtors.


Think about it. Your house sold itself in three days. The realtor just sucked up the commission. This is true reality in most realty transactions. In a hot market, a realtor really doesn't do squat.
Link Posted: 8/6/2005 7:30:09 AM EDT
Get yourself a 3 pound hammer and go negotiate a new contract.
Link Posted: 8/6/2005 7:35:23 AM EDT
Harsh words it might seem, but that is what you get when you trust other people to do your business. You have no business buying that far away if you are not going to be more involved, or until you absolutely find someone you can trust to manage it for you.
Link Posted: 8/6/2005 7:40:22 AM EDT

Originally Posted By migradog:
I kept him because he sold my last house in 3 days 2 years ago.

I still have a contract with him, so I don't know if I can change agents at this point.

I am cleaning the place up and talking with another agent, but due to my listing contact may not be able to change realtors.



And he didnt break the contract by leaving the property in disaray?

If he is the property manager, then he did not fulfil his obligation and voided the contract. Get another agent.

Link Posted: 8/6/2005 7:42:12 AM EDT
I had a similar problem about a year ago.
I have a house in Dover, England out for rent.
The estate agent kept charging me for non-existent repair jobs, such as $1500 for fixing a boiler that the house doesn’t even have, or termite proofing the woodwork twice in 3 months.
When I complained he said that he had some houses mixed up and apologized, so I gave him the benefit of doubt since he did manage to find a tenant.
His next tactic was to charge me for minor repairs such as unclogging a gutter ($200) or repairing a door ($250), things that I could not dispute from across the ocean.he
My advice is to do whatever you can to change agents (lawyer up?), or you will be fighting a losing battle at your expense.
Link Posted: 8/6/2005 8:43:59 AM EDT

Originally Posted By migradog:
I kept him because he sold my last house in 3 days 2 years ago.

I still have a contract with him, so I don't know if I can change agents at this point.

I am cleaning the place up and talking with another agent, but due to my listing contact may not be able to change realtors.



Get rid of him immediately. If he tries to fight you with regard to terminating the listing agreement, go to his broker and he/she will let you out of the contract. If this doesn't work, go to the local Board of Realtors & file a grievance. Don't worry about this, you will get out of the listing agreement.

Nest, you're still in need of selling the property. Here's my advice: 1) ask trusted friends/business acquaintences to refer a GOOD, PROVEN Realtor; 2) before hiring a Realtor, ask them if they have the CRS (Council of Residential Specialists) designation. This is a difficult designation to achieve as you have extensive education requirements & must have DOCUMENTED sales volume over a 5 year period of $25 million (among other criteria as well). Only 4% of Realtors in the US are CRS's & they are the most professional, "best-of-the-best" in the business.

With regard to the comment that Realtors don't do shit but put a sign in the yard & collect a check at closing, I have a couple of things to say. Yes, there are some scumbags in real estate that will do just that & have they no place in the business. Most likely they are part time Realtors or among those who will get in and get out within 5 years of obtaining their license. They are the exception, NOT your average agent. A typical Realtor has a college degree, votes Republican, is independent-minded (Realtors are "independent contractors" & thus have to carry their own health insurance, etc.) and entrepreneurial. They get killed with taxes, fees, and expenses just to stay in the business. For instance, on a $100,000 house, the typical commission negotiated is 6% of the sales price. So the seller at closing pays $6,000 to the listing broker, which is then split 50/50, giving each respective selling & listing broker $3,000. Now, of this $3,000, the firm will get its cut (usually a percentage that varies on the sales volume of the particular agent but most agents are on a 60/40 split with the agent getting 60%, the firm 40%). This leaves the agent a check for $1,800. Now the agent must set aside 20-25% of this check for the IRS so now we're down to $1,350 "take home" pay. Remember that the agent also probably did the driving while this customer was looking at houses so they came out of pocket with gas to keep the car running. After all is said & done, that agent is lucky if they keep $1,200 from that $100,000 sale. They also did all this work & didn't receive compensation until the deal closed. Sometimes closings take 45-60 days from accepted contract to actual closing. This time lag ain't too good for cash flow & sometimes problems will come up & the whole deal can fall apart at the closing table, leaving the buyer without a house & the agent out of a check they were counting on.

Sorry for the long post but being a Realtor ain't all its cracked up to be. Most agents make LESS than $30,000/yr. & work pretty damn hard to make what they make. The good agents that make over $75,000/yr. usually do a lot of volume, provide a ton of service to their customers (market knowledge, negotiation skills, connections in the mortgage, title and legal professions, etc.) and work 45-50 weekends a year along with the typical Monday-Friday workweek.

Best of luck to you.
Link Posted: 8/6/2005 9:03:27 AM EDT
[Last Edit: 8/6/2005 9:04:34 AM EDT by TheCynic]
Four words that will save you the most
money in life: For Sale By Owner


eta: consequently, I do will cost you
the most money in life.
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