[KW29]

Just want to share some insight that I have experienced in the last year.
In February my family and I moved from Florida to Georgia. The first realtor we went with told us that we would have to bring money to the table at closing and that we were being "sentimental" about our house. Granted it was our first home and we bought it as a foreclosure and did a lot of the work ourselves. My husband unexpectedly got a job transfer so we did not get to finish all of the work that we had wanted to do, but we knew that we were not being sentimental about it.
We contacted another realtor who told us that we could get $30,000 more than we were told we could get and didn't need to make another improvement. Needless to say we went with that realtor and had our home sold within 8 days.
-KW

[jandeantx]

Today I passsed my state/national exam to be a real estate agent in the state of Texas. I know I have alot to learn, but I will be working with another agent who is very professional and experienced.
I would like to hear other stories and comments about your dealings with real estate professionals. What makes a good agent and what makes a bad agent?
Janette

[megdhg]

Realtors can be tricky, especially to the non-seasoned home-owner. I experienced a similar problem this past spring and I walked away from the experience with a lot of knowledge. I hate to say it, but if you approach some professionals, not just realtors, before you've really done all your homework, you are at a huge disadvantage. Research every aspect you can about the local market, common procedures and any other information that you think might be helpful. If you are unfortunate enough to end up with a realtor who is not looking out for your best interests, knowing your material will help curb any scamming they may try to pull on you. megdhg

[bluetree]

the famed economist steven levitt made the comparison between realators and the KKK, in his book 'freakonomics'. the point of the comparison between the Klan and realtors is to show that both entities "make their money" (so to speak) the same way--by hoarding information.

for the Klan, the organization's dark secrecy was the information the Klansmen hoarded. once their secrets were revealed (through the superman radio show) and the Klan's pathetic nature made widely known, the KKK was almost instantly a spent force.

what if we all had the deep dark MLS data?

[jandeantx]

What deep dark MLS data are you referring to? I was in a real estate class last week and the instructor said that the public has access to at least 90% of the data that is available to professional realtors....if they want to go to the trouble to dig it out.
A lay person can do a comparative market analysis by using Realtor.com and other listing sites. A lay person can find tax appraisal information about a property on their county tax site.
The Internet has made a huge difference in the marketing and sales of real estate. The information is out there.

[mcmama]

Well, I have to jump in here, as I am a realtor. True, there is a lot of info out there for the public to find. But the mls and tax data don't tell it all. Realtors learn by experience what sells a home and what does not. In my area, many people try to sell on their own. It is very common for them to overprice their homes and leave off making minor repairs that suggest to the buyer that maybe there is something worse.
A smart seller or buyer can certainly get a good idea of the market through information available. The key is when you work with a realtor, the question is not just "what is my house worth" The question is "What will you do to get my house sold for the best price to a qualified buyer in the least amount of time with the least hassle" And in my office, we believe that the educated consumer is the best customer.
Jandeantx, working with a senior agent is a really great experience. I have been part of a team, and it is a really great way to learn from the pros. Congratulations on passing your exam!