Is the role of a clients real estate agent worth the money

[Bobby Narinov]

This is going to piss off a lot of agents.

I was reading here on BP about a buyers agent refusing to submit an offer unless it is at or above the asking price and I kind of got pissed off.

In today's markets the buyer usually researches the areas, the comparables and settles on a property. Then he waits for an open house to see the property or if there is no open house he/she gets a buyers agent to unlock the property (you even drive yourself there). Then the agent fills in five lines in a computer and if your offer is accepted he gets 3% of the sales price. Here in California this comes to an average $20,000.00.

So why would you tip a doorman $20,000.00?

I also have missed offers where the bank's agent accepted my offer and changed his mind one day later taking an offer that is $3,000.00 UNDER my already accepted offer. He claimed their offer was better than mine. Several months later RedFin posted the actual sales price and as it turned out the seller's agent was representing both the buyer and the seller so he got double the commission. Here is the listing on RedFin: https://www.redfin.com/CA/Laguna-Hills/25801-Via-Lomas-92653/unit-194/home/5693161

[Karen Margrave]

@Bobby Narinov First off, welcome to BP. If you are the Buyer, then the agent is someone you have chosen to work with. If you don't like their policies, find someone else. Here in Orange County, especially areas such as Laguna Hills, there's a strong market, with properties often getting snapped up within days, and "deals" are extremely rare. A good agent is going to tell you to make your best offer if you want the property, and they're not going to want to dink around and waste their time putting in offers they know won't be accepted. 

If you think your agent charges to much, find a discount brokerage someplace to work with. 

I don't know what planet you're living on, but here in California, there's far more than five lines that need to be filled in on a computer. Then there's getting all parties to agree to the terms, opening escrow, following through with everything that needs to be done in order to close the escrow (title, financing, insurance, home warranties, etc.) Does the amount agents are paid coincide with the work? Sometimes yes, sometimes no, but nobody makes you use an agent. 

Good luck with your real estate investing, hopefully you find something that works. Consider coming to the next meetup, in Lake Forest.