realtor's services

[ITE]

what exactly does a realtor do for a client? Im talking about all of the behind the scenes legwork that they take care of. I was starting to work with one for a house that we wanted built and I asked her what exactly we were paying for, for the realtor's fee. about the only thing she would tell me was that she brought us and the builder together and that she was looking out for our interests through the whole process. she then asked the owner who only added that they look out for our interests, bring a client and builder together and they make the appraisal. Am I asking too much propriator information out of them? I really just wanted to know what I was paying for. so to sum it up, what does a realtor do for an individual when they are buying a home that is being built?

[roger g]

I've never heard of using a realtor when you wanted to BUILD a house. Buying the vacant land yes but after that sale is over then the realtors job should be finished It sound like the realtor has weedled himself into a building/design consultant and all round good'ol boy and wants to be continually paid. Great system if you can get someone else to go along. When I think about it, it's probably and extention of " if you buy this piece of land you must use me as a builder and use one of my approved plans" and now added "plus use my nephew Vito as your realtor and Santa's little helper"


roger

[ITE]

it was going to be a land and building "package" I guess. the land was owned by the builder and the realtor introduced us to the builder, so I guess that is why they felt compelled to be in on everything.

[roger g]

Ah!!!!!! but are you compelled?


roger

[TnAndy]

They are basically going to do nothing.....which is just slightly less than they normally do to sell an existing house, so for a realtor, this isn't much of a leap.

A. They make an "introduction".....what, you can't pick up a phone book and look under "Builders" ??? The BUILDER is the one coming out on this deal.....let him pay the realtor some little commission for this "introduction" if HE wants to.

B. "they are going to look out for your interests"......oh horse manure. First, they probably won't have a clue how to do that...and they sure as hell won't take the time to learn how to.....and the only time you'll see them is at closing with their hand out.

C. THEY do the appraisal ? I doubt it. If you get the construction loan, the bank does it off the plans and land value. If the builder fronts the construction costs, the bank does the appraisal at completetion for you mortgage loan. The only "appraisal" a realtor does is the "pick a number out of thin air" method most of them use for a listing price on existing property.....(and the higher the number, the bigger their commission)

Does it not tell you something when the realtor had to turn to their boss for backup on "what they do" ??

As you can tell......my feelings about realtors put them about 6 notches below used car salesmen and politicians. About 1 of 99 actually do provide some service..overpriced, but something.......but the rest of them aren't worth the price of a bullet it would take to shoot them.

[ITE]

thanks for the replys,

TnAndy, don't sugar coat your feelings for us :D

Im getting married and my wife to be insists on using a realtor for our home. Im the kind of person who wants to see what Im paying for. I couldn't and still can't see why they can't tell me what it is they are going to actually do for us. after not getting an answer after asking twice I said ok and thanked them for their time. I don't want to be one of those people who get mad at Mc Donalds and tell them they are never going to go to Mc Donalds again. they could really care less. Of any case, we decided it wasn't going to work out.
I thought it was a simple question. maybe Im looking at it from the wrong perspective, but I cant see it. oh well, sorry for the rant.
anyway, let me rephrase my question. What does a good realtor do for their clients? Is there a list somewhere that will point me in the right direction.
thanks

[TnAndy]

I don't sugar coat much of anything....ahahahahaaa...

I just can't see a realtor being of much value in the case of you and builder and building a house....they "might " be able to look over a contract and catch some things you and the builder might want to agree upon up front, and they "might" catch some things about the land, like easements, etc.....but that would sure take the exceptional realtor, because most of them would never do anything in this case. In the case you mentioned, I think they were just "hanging on" for a commission for the introduction......figuring if you saw them around enough, heck, they MUST be doing something and get paid for it.

IMHO, you would be better to hire a retired builder as a "consultant" for your side.....he could screen your contract, inspect the work as it progresses, etc and give you the value of his experience dealing with folks just like you....now how you'd find one is a puzzle...you might try the local SCORE chapter in your area if there is one ( service corp of retired executives ), or the local homebuilders association.

The only area a realtor serves any purpose is in finding an existing house, or selling a property you own.......and even then, the majority of them don't excell at that.

I guess it would come down ultimately to what YOU expect them to do for you.....make a list........but don't hold your breath.

[AustinRealEstate]

WOW. All I can say is you guys must have had completely shitty realtors.

The agent should be you advocate in the building process.
They should be another pair of eyes on the builder and subs making sure you get what you paid for and that the home is built with quality.

In my opinion an agent should,
1) visit the site 1 time per week minimum and take photos of anything out of the ordinary.
2) be the liaison to the builder for any defects you find that you want finished. You and the builder should be best of buds. Let the agent handle the discussions and issues that could cause hard feelings.
3) be prepared to play hardball with the builder. Builders get 80-90% of their sales thorugh realtors. I had one builder try some low down crap with me. I called 5 agents I knew that sold in the builder's area. 2 of them had clients contracted with that builder, called the builder and asked about the issue that I informed them of because they were concerned that the same thing might happen to their clients. I got a call back in 30 minutes with complete apology and agreement to do right by my client.
4) if you had an agent who was worth their salt and commission you wouldn't need to ask advice on an Internet bulletin board. That agent would be there to make sure you knew what was going to happen, what might happen, and how to work through it.
5) As an agent, I don't think this is a great thing, but as a consumer, the more folks you have on the hook for getting things right, the better. If worse comes to worse, would you rather it be your word against the builder or your work, plus the realtor's word against the builder's word? Also, if the agent is any good tey will ensure that everything is in writing. It's part of our code of ethics.

Joe

[Richard A Hetzel]

There are professionals who will do what the realtor says he or she will do who are a whole lot more qualified to do it...for example, architects, good home inspectors, contractors, even some engineers. Why pay the realtor when they have no clue what they will do for their money? Why not pay a professional who will answer that question exactly and fully without having to run to the "boss"?

[AustinRealEstate]

One of the reasons I can think of is that agents get paid for results. Agents get paid when the home closes and you are satisfied.

Architects, home inspectors, contractors and engineers get paid no matter what happens to you or your project. Kinda like lawyers. Pay by the hour and good luck to you. :)

Joe