Where or where are all the honest real estate agents

My goodness I am stressed to the core about what is going on here in Detroit. Investors that have no intention to rebuilding homes but just holding them with the hopes they can make a killing someday when prices of homes increase.. I have made so many offers in concern to Bank Foreclosures only to be told EVERY time that there are multiple offers and there is no transparancy at all in what is going on. Real Estate agents not working with each other and only looking for the profits in their own pockets. I have had the experiences that a 40,000 dollar cash offer has been turned down only to be given to a 33,000 dollar offer because it is the agents offer and would rather not share his commission not only deceiving the bank but also his buyers. Almost makes you feel to just not even try anymore. BUT I have not given up hope yet and still work hard towards someday finding something I will enjoy restoring.

if you have proof that you actually have made a legitimate 40,000 cash offer and handed it to a licensed real estate agent and that agent did not present this offer to the bank or the owner but rather only made his own 33,000 cash offer, than you should immediate file a complaint with state licensing and that realtor will lose their license and be fined heavily.... all legitimate offers given to a licensed agent must be presented to the seller....

now your 40,000 offer may not be legit... proper paperwork, proper proof of funds, sign agency agreements with agent.... lots of factors....

Answer to thread title...

..."unemployed"

My realtors are Ryan Cooley and Lauren Brunyinga of O'Connor Detroit Real Estate and I also highly recommend Joy Santiago of Dwellings Unlimited.

www.oconnordetroit.com

www.dwellingsunlimited.com

My daughter jumped through the same hoops last summer. She was up against twenty to thirty bids at times. Finally decided to look at homes going for slightly less than she could afford. She ended up with a nice home by overbidding the house.

If you can afford 40k. Look at homes going for 35-37k. Bid 40k with proof of ability to pay.

When I worked as a realtor a few years ago I wondered the same thing.

I can't tell you how many times some jerk selling agent told me "You better bring your best offer because I have two others on the table.".

Ya, right.

Generally agents are high school educated at best, they don't communicate well and love to talk down to you if you don't have a lot of experience or are trying to sell or buy by yourself.

Proof of funds all signatures of course that is how I always make my offers... It still is a farce to see what is going on.. Investors sitting on properties is not going to bring Detroit back but hard working people who buy homes to LIVE in them. Real estate in Detroit has been played with for so many years that is why it is what it is today. As long as a real estate agent can sell to his client instead of another real estate agent he will always look into his own pocket to make his profit.... Like I said there is no transparency in this market at all... Something has to change and it still is the same dark dealings as it was that brought it to this.

Oh as to the "UMEMPLOYED" yes you are correct.. Corrupt seems to pull

You can file a complaint with the board of Realtors. Also try to find out who the seller of the property was, they really got screwed- make sure the seller knows what happened, even if the seller was a bank they realy do care about these things.

They are hanging out with the honest mechanics, compassionate doctors, benevolent lawyers, skilled internet technicians at a special club where they also sell affordable health care

Cash offer helps. No contingencies helps. Quick close helps. Going through the listing agent helps [[doubles their commission).

Yes, some agents play funny with their pocket listings. Just the way it is, city and 'burbs. HUD homes have better offer visibility since all offers are listed on the internet eventually.

Investors sitting on homes? Not that I've seen. Prices aren't going up anytime soon and property taxes, insurance and other carrying costs will eat you alive while the scrappers strip the house. No incentive to sit on a depreciating alligator that eats all your cash.

Well then tell me what is going on... It cant be everytime you make an offer there are so many multiple offers????? This is now the 6th offer coming up... Really dont know what to do it is just so frustrating I can't tell you how much. I still feel its a game and I really dont enjoy wasting my time and money driving back and forth looking at houses that will never materialize...

Perhaps they transferred to South Lake?

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Originally Posted by Newhorizons

Well then tell me what is going on... It cant be everytime you make an offer there are so many multiple offers????? This is now the 6th offer coming up... Really dont know what to do it is just so frustrating I can't tell you how much. I still feel its a game and I really dont enjoy wasting my time and money driving back and forth looking at houses that will never materialize...

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There are a lot of people trying to capitalize on the first time buyer tax credit before the deadline expires, and I've heard rumors that the banks are purposely going slowly on foreclosing on and remarketing houses to try to keep inventory lower and drive prices higher. Then, the story goes, they'll put more inventory on the market as prices firm up. I don't know if it's true, but it makes sense to let people stay in their houses a little longer to avoid scrapper damage and to hold back inventory if you think the market will recover significantly in the next 6 - 18 months.

The [[up to) $8K tax credit has brought enough buyers into the market that I wouldn't be surprised if that extra demand has driven prices up by more than $8K in traditional first time buyer areas. Prices might be lower after the credit expires, even taking the lack of a $8K credit into account, due to a dearth of buyers.

Real estate agents are a real prize. Are you dealing only w the sellers agent? or is this happening with the agents that are [[supposed to be) representing you? They really do pull some stuff. I won a bidding war once, then the agent talked me out of the property, and bought it with MY BID......... Another refused to write up the offer I had presented, saying it was too low..... I found out later It sold for LESS than what my offer was. Agents really can be sleazy and manipulative.

Just remember to do what you feel is right, and If you dont get the house keep looking. I agree the buyer credit is probably making people a lil looser with their bids and things should return to normal after that credit expires. Its not a normal market right now.

Maybe trying to zero in on homes that arent bank owned, short sales and the like may help. Of course on that Im just guessing and speculation as I dont know what you have looked at really. Im amazed at the flurry or activity you are seeing and competing against.

Also FOR SURE report them to the local real estate commision,

In today's market the agents are just reponding to the type of clients they deal with. There are clients out there that will lie to people's faces to get their hands on someone's house. They will lie about expenses, offers, relationshipd if they must.

The level that people will sink to to get their hands on someone's home is appalling. The economic environment today has people in a perpetual state of shock. SO they are rather gullible and easily duped. Many unscrupulous buyers, and agents, will take advantage of that. It would be like telling the family of someone who just died that you were the lover of the deceased so that they would feel obligated to help you live in the house of their beloved departed. That is the type of emotional stress that people are under.

I wouldn't be surprised if people are tricking the elderly and infirm into signing houses over to them because the homeowner can no longer think straight. So agents are just protecting themselves and responding to their environment.

Newhorizons:

Where are you looking to buy? I know of a completely redone brick colonial in East English Village.....Check the MLS.

If you even suspect that your agent is not on the level, drop a dime!

I suggest O'Connor on Michigan. I have found Brandon, Lauren, and Ryan to be exceptional.

A while back I was going to post about this. It's true people are making offers that are declined and the houses sell for less. Hope there is more advice on this thread since now I find my youngest son is looking to buy. He is only looking in EEV.

How much is that colonial?

I experienced the same thing in Boston Edison. Made offers on 4-5 properties, everything in order. Sent proof of my disability income, wife's current income and bank verification I would be paying cash via electronic payment. Every time was told multiple offers had been made. Did follow up and found a few sold for less than I offered but did not follow up on who bought it.

When my son was looking to purchase a house, we had an agent. We lost every house [[sometimes bidding double the asking price). We thought our agent was pulling some wool over our eyes. We dumped her and decided to deal with the seller's agents only. It worked. The first house we bid on, dealing with only the seller's agent, we won. While there were multiple offers, ours was the highest. In this market, it helps to deal with the seller's agent.

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Originally Posted by sumas

A while back I was going to post about this. It's true people are making offers that are declined and the houses sell for less. Hope there is more advice on this thread since now I find my youngest son is looking to buy. He is only looking in EEV.

How much is that colonial?

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Sumas:

It is listed at $69,900, but any reasonable offer will be considered. It is a 3 bedroom brick colonial that has been completely redone. All CoD inspections have been completed and it is move-in ready. Contact Jim DePuys at Real Estate in the Pointes: 313-600-2356. Tell him you are interested in Samantha's house. For obvious reasons, I can't post the address here. Please post what response you get from him.

Yes I have dumped my previous real estate agent and found someone so much better... And interesting that people are posting phone numbers and trying to sell real estate on this thread... LOL. Since were on that topic then anyone know of any properties in the Boston Edison for sale?? You never know!!!

http://www.historicbostonedison.org/.../forsale.shtml

Yes n7hn I know the website but nothing for sale really all those houses are pending believe it or not!!!! My search continues in other beautiful areas of town.