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Arrogant or Experienced Expert... Agent Q/Vent Long
We are in Orange County, CA where the housing bubble didn't really burst as bad as most of the country. In most areas, houses are still at a minimum of 350K plus. The price range DH and I are in is very competitive... we know that. We can basically get into an amazing Condo/Townhouse or a house that needs a little work (which DH is very handy and a lot of our friends are contractors so it's not an issue for us). We have chosen to try and get into a house, as we have a 1 year old and want to have another baby in the near future.
We decided to work with this particular agent because he's been in the business for over 20 years ("knows the industry") and didn't mind working with short sales. There have been 3 to 5 houses we were seriously interested in and even wanted to put in an offer on, but he basically said that we didn't have a chance because of our 5% down payment, even though we were willing to put a full price offer in... He claims that other people had 1/2 cash down, or were investors and therefore we had no chance and shouldn't bother putting an offer in.... On another house, he didn't want to put an offer on because the other real estate agent was an ass, another agent was inexpierenced and he didn't think it would go into escrow anytime soon etc. With every house we like, there seems to be some excuse as to why we wouldn't be able to get it. He keeps pushing us toward houses in bad areas (we're pretty particular where we want to be as we don't want to be too far away from DH parents), or he pushes us toward condos and townhouses (one was only 2 bd, when we clearly told him we need a minimum of 3).
I just feel that a good agent will fight for you when you like a property (whether it's a house or condo), and do thier best to try to get you the property, even if you probably don't have a chance at it. I believe there is a certain amount of human element that goes into buying a house. I feel that some sellers would prefer to sell to a family or someone who is going to make it a home versus an investor that's going to flip it for thousands of dollars... if they knew. They can't know though, if our agent doesn't even try.....Maybe I'm a romantic, and a bit disillusioned...
Please tell me wyt.... Is it time for a new agent even though we're approved through his lending company?
Re: Arrogant or Experienced Expert... Agent Q/Vent Long
It sounds like you don't like him and you don't trust him to advocate for you. Reading your post, I'd say your feelings are spot on.
I would find an agent who's looking out for your interests first. This guy seems to put his interests ahead of yours and isn't listening/doesn't care about your wants and needs. It's certainly your agents job to advise you and even tell you if he doesn't think you'll get a house due to too much competition or a bad offer or whatever but in the end if you don't want to listen to it they should still write up an offer anyway.
Your lending company is not tied to your REA. You should still be able to use this company if you go with a different agent. You can use whichever lender you choose to.
Ditch him. An agent is there to serve your needs.
And maybe an actual agent can speak to this, but I believe their professional code requires them to submit any offer you want submitted.
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You are correct. They can give their opinion but, in the end, they should still put in the offer you want to make. Run run run and find a new agent.
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Hi from NorCal! I'm a Realtor in the Bay Area.
It is important to have a Realtor that gives you good advice regarding the properties you are interested in. A 50% downpayment is hard to compete with. The size of the downpayment, and therefore the loan, is a real factor when evaluating any offer. The larger the downpayment, the less pressure there is on the appraisal and the less chance that an offer will fall out of contract.
That being said, if you are interested in a property, even if it is a long shot, you deserve to have someone help you write up an offer. Of course, you would want your Realtor to discuss all the pros & cons, discuss strategy etc but the decision to write an offer or not is yours.
Good luck, I hope you find a great Realtor and an even better house!
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