Realtor hosed me - what can I do?

[zaffo oxnard]

Just sold house for asking price. I’m not happy though. Realtor told me house was not that special and that I should only ask what the last sale in the area was for. I spend 2 months painting and fixing, and it was quite nice and move in ready. I insisted that the house list for $15k more than she suggested. She said it was a real reach, but put it on MLS. It sold in 7 days for asking. She only put it on MLS, no newspaper or open house like she said was part of her service. I found out that she had two other listings that were not selling and she has been tied up with them. I feel like she purpousely told us to price it low so she would get and easy quick sale that didn’t require any additional effort on her part. I want her to rebate a portion of her commission to me. I have been in the neighborhood for 30 years, and she is known for working this area which is why I chose her. Feel she hosed me. I know I can’t sue her for it. Has anyone ever had any experience leaning on a agent for this? What works? What does not?

 

[Michelle Widell]

It sold for what you wanted, right?

 

[Todd Z]

If you can prove that "you" sold the house you may be able to get some back, But here in NY your not allowed to sell the house privately if listed with the real estate, all sales MUST go through the real estate. Some of them make you agree that you will not sell the house privately until 6 weeks after dropping them..

Don't know the law by you, but it sucks here..

Todd Z

 

[zaffo oxnard]

I wanted it to sell for $15k more than it did - $30k more than she suggested in hermarket analysis. I gave up on the other $15k because she said no way would it sell at that price.

 

[Bill V]

When did you sign? Most states have a period where you can back out of the deal--I think it's usually about 3 days. If so, reject the offer, and relist it at a higher price--with another realtor if necessary.



Otherwise--you agreed to the sale, and to the contract with the realtor, I think you need to live with your decision.

 

[Rodger Tellefson]

I'd got the the real estate state licenseing board. Also, get another realtor to give you a fair market value w/o telling them that it has already been sold. Realtors will usually do that for free, or minimal cost. You might also go to the better business bureau in your area.

 

[zaffo oxnard]

in CA once you signed with them, even if you find a buyer - they still get the comission.



She brought us one offer for $12k under the asking and suggested we counter at $5k under. Was really pushing us to accept anything close.



I am thinking breach of contract here. They were too busy to show and sell my house, so they advised low pricing so that it would go fast with no effort on their part. I suppose they could claim that we found a "weird" buyer with lost of $$, but this turned out to be too convenient for her.



I am thinking that since this is her neighborhood, and we all know the same nieghbors and have the same credibility, I could giver here a severe black eye by not recommendnig her. Listing agents get a big boost when they can claim they moved a house in a week. When they do this and the seller feels hosed, this is not always a good thing.



Out old neighbors sold when things were really crazy a year ago and were happy with her, even though within a month they could have made another $30k. At the time they made the best deal they could, and they reached $20k over prior highest sale with her and she agreed.

So she can be aggressive. Just not this time.

 

[Ben Poche]

houses buy me are selling for about $140 to $160 a house just went up for $199,999 and sold in 5 days. what do you think all the other people are thinking.that they sold to low! i paid $80k for mine 8 years ago and have the largest lot and most likely the nicest i know it is tempting to sell mine but i will have to pay double to get what i want.

 

[Les]

If you were not happy with price you shouldn't have let her pressure you. I agree with Michelle, you got your asking price. If anything maybe she did her job too well..........

 

[Chris Kulbaba]

Well, I would say that it was up to you to decide in the end what it should be sold for... so I dont see her doing anything wrong...

 

[Michelle Widell]

Well, you insisted she list it for $15k more than she suggested, and you got your "asking" price. I sold my house in 2003 for asking - in 7 days, and I felt at the time it was a fair deal. I always wonder if I asked for me, would I of gotten it. But, I could of sat on it for another 6 months and paid another 6 grand in mortgage payments.



You never know... You could of asked for 15 grand more and it may of sat for 6 months or 6 days.

 

[Dale Carter]

You could have rescinded the contract before the sale, but it is too late now. If I were BBB and someone walked in and said "I got the price that I insisted the realtor ask for my house, it sold and I am here to complain" I would tell you to pound sand.



Keep in mind that realtors do not represent the seller or the buyer, they represent themselves.

 

[Stephane Bolduc]

Unless the buyer is putting 30-40% (and more) down, you can only ask so much, because when the buyer goes for financing, they will require an appraisal. If the price is way higher than the appraisal, then the buyer gets turned down by his bank.



Your agent should have got you an appraisal, not from her best friend and not just her"opinion".

 

[Michelle Widell]

In addition.. MLS is as it is - multiple listing service. It opens the doors for other realtors to show the house, and the listing realtor doesn't have to do squat but show up with the buyer's realtor for offers. Kinda like multi-level marketing. My house never made it to an open house either - sold too quick.

 

[Michelle Widell]

I don't think it's the agent's responsibility to get an appraisal. They do a market comparison and use that as a guideline to determine a fair selling price for your home.

 

[Kevin Palmer]

The only chance I think you have is if you can prove or at least raise a serious question to show her intent was to keep it low to create a quick sale. Almost fraud or deceit.



Maybe inform her you intend to contact the Better Business Bureau. See if she suddenly changes her mind. If so, she was probably in the wrong. If not, then you already have the answer.



But other than that, you have a contract, the contract works both ways...

 

[zaffo oxnard]

I know that having a home sell fast is good, but part of what you're paying for from an agent is the expertiese to price it properly. If they want it to move fast and convince me that a low price is warranted, that is dishonest.



As far as did her job, like I said, all she did was put it on MLS. No newspaper, no open house. Oh it wasn't needed - Yeah, because it was such a bargain.

 

[zaffo oxnard]

Sitll works me up that she basically blew me off when I said there was someone coming back to look at the place again and she didn't bother to show up. All buyers in this area are trading up, so they all have over 20% to put down. No appraisal worry.

 

[Richard L]

I agree, you got what you asked for in 7 days. Most would consider that very fortunate. Remeber, The realtor get a commission based on the selling price. If she talked you into a lower price, she gets less money too.



...Rich

 

[Thomas Rogers]

Realtors (R), IMHO, are obsolete.



With web technology you can find the home you are looking for without the need of a Realtor. There was a time when a Realtor needed to broker the transaction to match buyers with sellers, and they offered a great service because they knew communities, etc.



Now it's just a numbers game. Realtors are incented to sell as many deals as high in price as they can, so that means sometime time-to-sell is traded for selling-price, and vice versa, whatever gets the most for the time and money.



I know there are ex-Realtors on this board and those that have spouses and relatives in the trade, and they will sing the praises of Realtors as I expect they should. Are they impartial? By definition, NO!



Oh, and you might note that I keep capitializing Relator and adding in the (r) for registered trademark...and, yes, it is Realtor, not realiter. That's part of the scam. You sign up, pay your admission, take your two week training course, and feed up your "tribute" to the organization....all so you can be part of the racket. It's a private club!



How would you like it if there were Paintors (r) and Plumbors (r), etc.



It's a racket. Case in point, we used a buyer agent 8 years ago when we moved to the Southeastern PA area from NY, figuring it would be well worth it because we didn't know the area. After almost 3 months of weekends of looking at homes that were too expensive on lots that were too small, all too far from my job, and after SPECIFIC instructions TIME and TIME again to NOT show us such houses, we finally found our own house, on our own and negotiated our own deal. The buyer agent and her agency still sucked up their commish...for nothing.



TJR