Do I have a bad realtor?

Buying & Selling Real Estate
10yFollow

Do I have a bad realtor?

Jarrad Henry
Investor · Union City, CA · Member since 2015 · 34 posts · 8 votes

Hi guys,

Trying to determine if I should reevaluate the relationship with my realtor based on what I am considering some neglect and critically bad advice.

I just cancelled a contract on a property in Antioch. 3/2 baths with a granny flat/in law. The kitchen is a garage conversion and the in law units were done without permits. It also needs a new roof, electrical isn't to code, and there are some termites.

Even after her I discuss my planned to rent out the property I was told to not be concerned about the unpermitted kitchen because "everyone has unpermitted additions" in the Bay Area.

She also told me that it was not necessary to rate shop when selecting a mortgage loan and that she would "ask around". (found my own lender)

Lastly she wasn't aware of the zoning for my neighborhood but recommended I make the family room a studio apartment.

Would you recommend find a new realtor? Is this a pattern?

0Reply
37 views

Most Popular Reply

Jeff Valentino
Residential Real Estate Broker · Winston Salem, NC · Member since 2011 · 345 posts · 120 votes
10y
Originally posted by @Shadonna N.:

Not bashing realtors but they have the easiest job in the real estate cycle.  The market is not helping, especially if it is a hot market.  They just have to sit back, eat popcorn, and watch the frenzy.  Not all realtors just the bad ones, they know who they are :)  

Don't forget we roll around in hundred dollar bills while eating the popcorn!

Anyway, yes you should get another agent. Did you spend much time with them before using them? It seems like some of this could've been found out in an interview. Consider it a good (and cheap) learning opportunity and move on.

Good luck!

4Reply
See this reply in the discussion

29 Replies

Jump to latestLatest
  • Account Closed
    Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
    10y

    Was your offer cash?  The property wouldn't pass lender inspection and the appraisal would also note the permitted use v. the number of kitchens.  Not sure why an agent would waste her time on a deal that wouldn't close unless 1) she doesn't know what she is doing or 2) you made an all cash offer.

    In the Bay Area do not ignore permitted use and illegal units.  Even some of the munis not under rent control do go after illegal rental units.  

    1Reply
  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    10y
    Originally posted by @Upen Patel:
    Originally posted by @Mindy Jensen:
    Originally posted by @Jarrad Henry:

    @Upen Patel In her defense she didn't want me to rate shop and incur hard inquires hits to my credit but bad advice nonetheless.

    She is not aware of changes in the credit reporting system. Multiple inquiries for mortgages in a close timeframe are now counted as ONE inquiry - it is considered rate shopping and the individual inquiries no longer add up. I don't know the exact timeframe, but they do all get lumped into one hard inquiry, so your credit is not negatively affected by shopping around for the best rate. 

    Mindy, you could be right. But based on what Jarrad stated about the other aspects, I think it is something more sinister.

    With regards to credit pulls. Mortgage related credit pulls within a 30 day time frame are supposed to be counted as one.

    Upen Patel, Mortgage Banker

    Federal NMLS# 1374243

     Thanks, Upen for sharing the time frame. I agree, it probably is more sinister. But it adds to the reason she shouldn't be his agent anymore.

    I forgot to ask you, Jarrad. Did you sign a contract with her? If you did, you need to break it before you sign one with another agent. It should be easy to break. If she gives you hassle, talk to her supervisor.

    [email protected]Podcast Guest on Show #261
    BiggerPockets
    1Reply
  • Account Closed
    Investor · Los Gatos, CA · Member since 2015 · 32 posts · 5 votes
    10y

    That's just another run of the mill agent in the Bay Area. I wouldn't think about it too much. If you haven't signed an buyers agency contract, I would not burn that bridge and fire her. You never know what she may bring in the future. Just be aware that the info she tells you in the future may be bogus. Honestly I have yet to find an agent I trust 100%. Ultimately I the buyer have to do all my due diligence and must be comfortable with what I know and take what the agent say's with a grain of salt. 

    She is correct though, a lot of properties in the Bay Area have unpermitted work, question is are you ok with it. Because in this market there are more than likely a few people behind you who are ok with it, at least in the south bay. 

    0Reply
  • Justin H.
    Investor · Toronto, Ontario · Member since 2014 · 148 posts · 34 votes
    10y

    sounds like she is an idiot lol

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free