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Why You Shouldn’t Hire Me As Your Phoenix Real Estate Agent

Why You Shouldn’t Hire Me As Your Phoenix Real Estate Agent

avatarthumbnail.jpgWhile most Phoenix real estate agents waste their pixels convincing you why you ought to hire them as your agent, I thought it would be more efficient to tell you the one reason you shouldn’t hire me.

Ready?

I’m not going to tell you what you want to hear to effect a sale. Instead, I’m going to tell you what you need to know. And if that’s not what you’re looking for _ if you would prefer someone who will confirm what you believe is true even when it’s not _ then you’re better off choosing from the hundreds of desperate agents who will say ANYTHING to be able to cash a commission check.

Let me give you an example …

I had been talking to one prospective out-of-town buyer for a few months. At one point, I even had gone so far as to video one of the homes in which he was interested so he could get a better sense of the home. Last week he and I went out twice to look at homes that met his criteria.

He asked about a short sale and I explained all of the challenges that surround trying to purchase such a property – the lenders aren’t motivated, the list price is imaginary (so what seems like a deal often isn’t), the process takes months during which time many other factors including interest rates can change, only a small percentage ever close …

To make a long story short, he ended up making an offer on one of the short sales with another agent, one who told him how confident he was his offer would be accepted and how relatively straight-forward the process would be.

Anyone who has dealt with a short sale from either side of the table knows this absolutely isn’t true. Short sales are convoluted transactions that rarely come to fruition. But that isn’t what this particular buyer wanted to hear and someone else was more than happy to tell him what he wanted to hear and not what he needed to know.

Unfortunately, this happens more often than not for one simple reason – there are a lot of hungry agents out there right now who will put their own chance to cash a check ahead of the best interest of their clients, fiduciary responsibility or no.

There’s a really common sense litmus test you can apply to the misinformation common to short sale transactions. It goes like this …

If short sale transactions actually closed and if the only issue was the timeframe involved; if the list prices were legitimate and not wholely subject to the whim of the lender; if the odds of success were better than the 1 in 7 that really exists; and realizing that I work on commission … why in the hell would I not be showing these homes every chance I got?

It’s like Danny DeVito’s line from War of the Roses …

I get paid $425 an hour to talk to people, and so when I offer to tell you something for nothing, I advise you to listen carefully.

I don’t get paid $425 an hour. But when someone who works on a commission basis tells you something that will result in them not receiving a commission, maybe you ought to take a moment and listen.

Of course, that’s not a requirement. But if you aren’t prepared to hear the truth, there is no way you should hire me as your real estate agent.

[tags]Phoenix real estate[/tags]

Comments

  • Is Tobey available to tell me what I want to hear?

  • Tobey only will tell you that he has to be fed, even when he has.

  • Hmm.. I would have to say I don’t completely agree with you Jonathan, not all short sales are created alike.

    Many factors add up to an overall “feeling” of chances of success for short sales, including bank involved, status of delinquency, level of established communication, etc.

    But, I do completely agree with your overall idea that many agents are motivated by things OTHER than the best interest of their clients.

  • Hi,Michael … I agree with your disagreement in that not all short sales are the same. But I will say I’ve seen very, very few that weren’t already listed as “approved” short sales at a set sales price that were straight-forward transactions.

    In some cases this is changing … heard a story yesterday from an agent that got an approval back in less than three weeks. That was something different.

  • Gene Urban says:

    Jonathan,

    Couldn’t agree with you more… even the short sale commentary. The last stats on short sales I saw last month indicated only about 6% close escrow. When you factor in the multiple offers presented on many of these homes, the odds of your client’s offer being accepted brings the likelihood of closing escrow much farther down.

    Few clients are served by the frustration, time delays and low probability of a successful closing involved in a short sale transaction.

    Keep telling the truth… we need more agents who put their client’s best interest before commissions.