Beginner's Information: December 2008 Archives
The new consumer article for today is Why You Don't Want A "Top Producer" Listing Your Property. The agent makes money hand over fist, but they haven't got the attention to spare for getting the best price on your property, they impose arduous and illegal conditions on prospective buyers to make life easier for the agent while scaring off prospective buyers and making those that do stick around willing to pay less.
To be perfectly fair, there are exceptions to this. I can name at least one, although not in San Diego so I don't have experience dealing with him directly but I have heard good things about him from agents who've dealt with him. None of the "top producers" I've dealt with here in San Diego are worth the ink on their business card. But if you suspect they're a top producer who is an exception, you might want to investigate before you sign up with them. It is critical to choose an agent who has the time to market your property correctly, negotiate effectively with all offers that get made, not scare prospective buyers off and not cause them to offer tens of thousands of dollars less because it's such a problem to deal with the listing agent.
The new consumer article for today is It Is Illegal Under RESPA to Require Even Prequalification With a Particular Lender, debunks the legality of a practice that listing agents are trying to bring back or institute with the increase in buyer demand we've had.
The new consumer article for today is Fake Agent Scams. Despite how many people get burned by trying to Buy Without an Agent, most of them don't realize how badly they have been taken. In this case, it appears that the agent the seller had was unlicensed to boot. Put it together and what have you got? A course for disaster of epic proportions.
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