Real estate agent RANT!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, it sounds like you're mad that someone is going to make a profit from you. Newsflash- that's the point of buying and selling real estate. You sound like a nightmare tenant who's translating that over into the home-buying process. What a shame. Hopefully, you're mature at some point. In the mean time, I hope your landlord can get rid of you and find someone normal to buy his house. I also hope no other home seller has to deal with you. You'll be renters for a very long time.

You're joking right? I know I shouldn't engage a troll, but seriously. We are ideal tenants and LL uses a property manager so we have never dealt with him. Always pay on time, great credit, keep house in excellent condition. LL decided to sell 3 months after our lease started. Really, he should never have rented it to us. Wie are just hoping for some level of common courtesy/decency. You're jumping to a huge and incorrect conclusion because we as tenants expect to also have representation in the buying process (what anyone else would have).

The owner is showing courtesy. Giving you the opportunity to buy before the house is listed as well as giving you a counter offer. You don't like the response. As far as the owner selling 3 months into your lease, things change. Perhaps he needs the money for another investment, etc. If you want to stay and inventory is low, buy before it gets listed. Most likely their will be multiple offers and it will go for above the asking price.

Yes, it sounds like OP's landlord is showing great courtesy in listing a house for sale three months after new tenants move in. Just top-notch, Emily Post, perfect etiquette. If he needs money for another investment, what does that have to do with OP's lease? Nothing.

[Anonymous]

Anonymous wrote:WHOA! Lots of realtors on this post early...or maybe the same person. I am not unhinged and not someone who has posted before about realtors having too much value. My main point is that it seems like this arrangement makes it more difficult for me, the current tenant, to buy the place since nothing is offered to a buyers agent (only in our case, for other buyers it would be 3%) and thus we would have to pay out of our pocket to have fair representation. To me, a 50/50 split would still make sense, so if owner wants to offer 4% it would be 2% to buyer agent and 2% to seller agent.

And, I'm preoccupied with this because how much commission the seller agent makes effects how much the owner asks for the home since he has to pay, and also because not using an agent or paying for one out of pocket may put us at a disadvantage. How is that hard to understand? Not saying realtor does no work , but no MLS listing, no open houses, no showings etc...that's a lot less work than a typical sale I'd think.

U are nuts

[Anonymous]

OP

I strongly suggest you have a lawyer represent you in this transaction. You are too focused on the discount you believe is owed you rather than acquiring the house. You need someone removed from this who understands how to effectively negotiate on your behalf. If you pay the lawyer you will get the house. The lawyer can make your same low offer and see where you and your landlord can meet. The realtor is correctly representing the interests of your landlord. You have no one negotiating on your behalf.

[Anonymous]

OP,

1) You should definitely have representation in this real estate transaction. Don't dismiss it outright. Someone needs to negotiate/fight for you. The seller's agent will never represent you well - even if she is getting both sides of the transaction.

2) If you are in DC, renter's have the right of first refusal. Don't know about other districts, but when I sold my condo last year, I had to get a letter from my tenant that she did not want to buy the unit.

3) Good luck!

[Anonymous]

OP, you suggest that the seller won't work with a buyers agent? Really? That seems odd to me, as it's pretty usual for buyers to have agents, and usual for seller to pay that fee.

[Anonymous]

OP What is the term of your lease? Does it allow the landlord to sell the property after you have been in it for only three months? Generally, a lease is for at least a year, and the landlord generally can allows others to see it for sale anywhere from 30 to 60 days after the end of your lease term. I can understand why the landlord might want to sell do you now, but he may have to honor your lease for the remainder of the term.

I am sure you know the particulars of your lease, but it might be worth re-reading the finer points of selling the house during your tenancy.

[Anonymous]

I don't think OP cares about her lease. She cares about being able to control how the profits are handled between the seller and his agent. She wasting both their time with this inappropriate focus.

[Anonymous]

I understand the OP wanting 3% off her asking price as she's not bringing her agent to the deal. I think the buyer who doesn't bring an agent should pocket a 3% savings.

[Anonymous]

Anonymous wrote:OP, you suggest that the seller won't work with a buyers agent? Really? That seems odd to me, as it's pretty usual for buyers to have agents, and usual for seller to pay that fee.

There are lots of FSBOs out there where the owner will not pay a buyer's agent. The buyer then pays the agent himself or works without one, or pays a lawyer. Happens all the time.