Making Home buying Great Again
The Mandate (or need for one)
Wow, what an election season that was! With the presidential elections now behind us it makes me think…boy, if the general public only knew the type of Tomfoolery that goes on behind the scenes of some real estate transactions, it would probably create a mandate of its own demanding change within the industry. Yes, for those of us who live the real estate life every day, of course we see a great many things that can make even the seasoned of professionals cringed. Things that if changed, would benefit a great many people, actually, you the people and make home buying great again.
For those of you who are new to the home buying process with the understanding that everyone involved in the buying transaction have only one goal in mind, and its to make your purchase experience a fun, exciting and a memorable one. HAHA, wow you are so misinformed… Actually I’d be lying if I said that for many involved in your transaction, the main goal is to provide the buyer with exceptional service and protection. Because the reality is that it’s unfortunately not. The main goal of every transaction is to get the closing fast for agents, and to a lesser degree (but still an issue), the referral for those inspectors suckling at the teat of the agents.
Don’t get me wrong, your home buying experience has the potential to be a memorable one, but perhaps not the same type of memorable as if you visited Disneyland for the first time in your life. Actually for some, not all, its more like if you visited the dentist only to be told you need an emergency root canal and by-the-way, we have no more Novacane so you need to put on your big boy pants and suck it up. Thats right, you’ll need to helplessly site through the drilling that comes with all that drilling noise, the pain of him hitting your nerve countless times and saying sorry…sorry…sorry, and that smell! Wow, is there a worse smell in the world then the dentist drilling in your teeth? So yea, much to your disbelief, for many buying a house can easily be likened to this.
The Two Party System
Just as our country has a two party system made up of R’s and D’s which have been around for as long as you reading this have been alive, we too have main players or “parties”. We have the agents and inspectors in almost every single transaction, and both have the ability to royally screw your life up (like the R’s and D’s). So right about now you’re saying to yourself…”common, how can either of these two parties directly affect my life, my purchase and the outcome“? Weeeeell, so glad you asked, check it out…
There are usually two real estate agent sides to every transaction. The Buyers agent and the sellers agent. Both of these individuals have one goal in mind and its to close a deal. Oh yea, and by doing so, subsequently helping you. Sure, its fair to say that their claim to fame is “helping” people achieve their dreams of home ownership, but in reality their reputation is closer to resembling that of a dictator hell bent on pushing through their agenda at any cost leaving a wake of emotional and for some, financial destruction.
The buyers agent is the person you are most familiar with at this point. In some cases the buyer agent is both the “main” agent and buyers agent and other times, the buyers agent is a person employed by the “main” agent because the main agent feels at this point in their career, that showing houses is beneath them and really, Yoga, Starbucks and sleeping in is far more important than a personal relationship with you. Besides, having a “Team” makes you look like a baller, big time…, a “professional“. The agent on the buyers side whoever they may be, will show you many many houses, but be careful, when you look at more than 30 houses you may now be looked at as a Pain in the ass and / or not a very serious buyer. So get with the program, fall in line and pick a house already. Geesh. And don’t bother asking about the houses history and whether there are any additions, repairs, improvements or remodels. You’ll likely hear something that sounds something like… do your due diligence.
This guy, or girl is the person representing the people selling you the house. Their Job is to protect the seller from crappy low-ball offers and make the house sound far better than it sometimes really is. They’re in charge of describing the property usually in a poetic, flowery artistic manner. Making the property sound like its something from a painting with lush vegetation, huge roomy rooms, a vast and abundant number of bathrooms, without defects or faults, and the house will always be fresh and clean as a warm, spring day. Don’t bother asking about the houses history and whether there are any additions, repairs, improvements or remodels. You’ll likely hear something that sounds something like… do your due diligence.
THE DOUBLE ENDER
God forbid you home buyers ever have displeasure of having a transaction with only one agent represent BOTH sides. Seriously, how is that even ethical you ask? My retort… “yea, how is that ethical“? How can one single person, representing two separate people with two completely separate goals in mind ever be ethical? Here’s a shocker… ready? Its not, never is, never was and never will be.
THE BOUGHT INSPECTION
Here we go… this is the guy who your buyers agent hired on your behalf because you regrettably placed 100% of your trust in them. The home inspectors are supposed to be a neutral third party to the transaction and you last line of defense and protector of you. In other words, they help you not to buy that money pit. However, much to your surprise, these guys who suckle at the teat of the agent and are on these agent lists, on speed dial or whatever, are the same guys who you will depend on to tell you the things that the agents have no clue about. Is the house, its repairs or additions to code? Are they safe? “What about the AC and roof, how much do you think it’ll cost to replace that and how much life is left”?
Whoa, lets take it down a notch, these inspectors are not gonna answer that. Com’on, these guys are only there to pass the inspection right through all the way to the escrow close…opps, I mean they are there to help ease your anxiousness so the agent can relax now… no, thats not it either. They’re there for something I just can’t remember. Oh yes, its to take your $350, inspect your house in 45 minutes flat and hand you a 20 page report which is actually 5 pages of report and 15 pages of what they DONT DO. The irony here is that the types of “bought inspectors” are supposed to provide the most help but are often times the same people who helps the least.
The Campaign Promises…
As a buyer and seller you’re sure to find out during the agent interviews just how much an agent will promise to do for you and your family especially when there is some sort of gain (commision). Either way, you represent a great deal of money to the agents in the form of this commission. So yea, in an uncanny resemblance to most politicians, you’re sure to be over promised and afterwards, once you’ve inked them into your life, under-delivered.
For short list of some of the crappy behavior Patterns which plague real estate agents everywhere, read my 7 things that real estate agents do that suck.
We The People…What Do We Want? When Do We Want It?
For many home buyers especially the new first time home buyers, you may not have any idea what you want or what to expect from the process and the players within the process. So like always Im here to help you out…what can I say? Im a giver.
As home buyers you want to know that the person who you are driving around all day with, weekend after weekend listening to the relentless stories of munificence, compassion and giving, is the same person who is not going to attempt to push you in a direction which is contrary to your needs. That is to say, they will not show you houses that are a higher commission for them, they will not show you houses above your means, they will not show you fixer uppers disguised as flips, disguised as perfect, disguised as a pocket listing thus trying to double-end you and will not try to shove their inspector down your throat. You want empathy, compassion and someone to care for you more than the commission check.
For selling agents we want you to not just post-n-pray that it sells, we want you not to try to pocket the listing and save it for one of your buyers, price it correctly and not use it as a lead generator for new prospects, market the crap out of my house, negotiate like Donald J Trump and for Gods sake… get off your lazy butt, do your job and go to the home inspection.