REALTOR®

Have you ever talked someone out of buying a property and suggested renting instead simply because you didn't think it would have been a responsible financial decision for them?

Asked by Karyn over 11 years ago

No, I can't say that I have. When someone comes to me to buy a home I have them meet with a lender to assess their ability to purchase. The lender will show them the numbers and the buyer decides if they will be manageable. If the lender approves them we go house shopping. I don't look too far into their private lives. I know where they work and how much they can afford, it's really hard for me to tell (unless I know them personally) if buying would a bad choice. Also, in my market it's almost always more affordable to buy than to rent so the struggle usually comes in the form of lender approval for the loan, not the ability to pay the mortgage. But if the market I worked looked different, of course I would. It is in our code of ethics to ensure we help our clients make the best choices, even when they don't benefit us as agents in the slightest. Turning down a buyer or seller is a loss in the wallet but a win in reputation and a good reputation goes a lot further than a paycheck in my book.

Thank you for the awesome question Karyn!

Do you have a recurring client base? Like do they trust you to find them their next home?

Asked by rodzilla about 12 years ago

I haven't had a client I have helped place move yet, but I do hope they will turn to me when the time to move comes again. The best way to ensure this is to only take on clients we feel we will work well with. I am a very sociable, high energy person so I might not be the right fit to a super detail oriented, introvert. I would never want someone to suffer through my exuberance in order to make a buck. It is in my reputation's best interest to find my client a better fitting agent. I get to refer business to another trusted agent, I get a referral fee, and my client doesn't have to fight the urge to roll their eyes every time I speak.

Thank you for the question!

 

Have you ever had a buyer or seller try to back out of a sale after the paperwork was signed, and what happened?

Asked by Maddy1 about 12 years ago

I've never had this situation happen to me, but deals do fall through for many reasons. It is totally possible to back out after negotiations; however, it is not without cost. Once an offer has been inspected a buyer usually has a 17 day inspection period where they can order a terminate report, home inspection, and roof inspection. Depending on negotiations either party could pay for these. If the buyer finds something troubling in the inspections we write up a request for repairs where we ask the seller to fix the issue. If the seller refuses the buyer could back out of the deal and get their earnest money deposit back (Usually at least $1000). If they back out after the inspection period they lose their earnest money deposit and whatever money they put into inspections.


I hope that answered your question Maddy1, thank you for asking it!

What's your best advice about how to predict the direction of the housing market?

Asked by Ruth about 11 years ago

real estate agent is a career that peaked my interest since I am career planning for my future What was the process of becoming a real estate agent for you? and could you explain how the pay is since RE Agents get paid commission And is it stressful?

Asked by Alex01106 almost 6 years ago

I assume you're not always out showing apartments and houses. What's a day like at the real estate office?

Asked by Lagerfeld about 11 years ago

Are cities where real estate prices are higher automatically more desirable to work in for realtors, because the commission is higher?

Asked by Mike about 11 years ago