Have you ever dealt with a faulty realtor? What did you do?

Question

I do not live in the city where I invest, so I sometimes have to rely on my realtor to view the home and take pictures for me. I found a great multi-family opportunity, and asked my realtor to see the property as soon as possible, as I am very interested. I asked him on Monday to do this, and he didn't get back to me until Thursday. Now, there is an offer pending with a contingency. It is still possible we could get this house, but the buyer would have to drop their contingency. I am very upset he took so long. Is this a normal time-frame? When you ask your realtor to view a home, how quickly do they get you a showing?

He also sent me pictures of the wrong house. He mistakenly sent me pictures of the house across the street. This is a home in Detroit where it is not always apparent which house is for sale because "for sale" signs are not typically placed on lawns. I had to correct him and tell him he had the wrong house.

What do you think about this? Should I start looking for a new realtor? Have you ever had this happen to you?

J Scott · Answer

This isn't a typical service for typical real estate agents, so there is no "normal" time frames.

Did you discuss time frames with the agent and ask him/her how long it would typically take?  If so, and if they didn't follow-through on their commitment, then I'd suggest finding a new agent.  If you didn't discuss it, then perhaps your expectations weren't clear enough.

Also curious if you're paying your agent for this extra service?  If not, it's not surprising they he/she took his/her time...perhaps offer to pay for each house the agent photographs for you?

Alvin Neal · Answer

Hey @Hannah Williams It sounds like there could be lack of communication.

As @J  Scott stated if there wasn't a designated time or some type of compensation it may not have been the highest priority. Being a Realtor is not an on-demand service. That could have been his availabilty.

Ray Mulli · Answer

@Hannah Williams, Just shop for an investor friendly realtor. Not all realtors understand the needs of investors.

Hannah Williams · Answer

Hi all. Thanks for the advise.

I ended up going to see the house myself. :)

Victoria Winters · Answer

Ultimately, the responsibility is on the investor to know what they are purchasing. If this requires a visit to the property, then visit.

I have a story to share about a person I worked with recently about a house purchased, sight unseen, located in Detroit.

The owner contacted me about help with selling the property as a FSBO?  The owner required someone to show the house to prospective buyers. The owner did not want to hire a local agent and did not have contacts in Detroit.  I sent our photographer to the Detroit property and subsequently sent the photos to the owner.  Unfortunately, our photos did not match the photos the new owner had seen prior to the purchase.  To make a long story short, the "owner" ended up with a condemned property on their hands.

It definitely is a good idea to hire and pay someone to help with the purchase of property out of an area or state that is unfamiliar to the investor.  There are many reliable and trust worthy agents available in all areas.  Certainly there are times when an agent makes mistakes or is not fully engaged in a project.  This can happen especially when a person  asks an agent to perform a lot of tasks without any reasonable expectation that their efforts will culminate in a sale.  At a minimum, visit the area under consideration and meet with a local expert.

Samantha Hiscock · Answer

I am of the instant-gratification generation, I want what I want when I want it! I made it clear to my realtor he had no more than 4 hours to respond to an email during daytime hours and 7 if in the middle of the night. He has always been on top of things, and it may take a bit of searching but plenty are just as diligent as him. Ask around to other investors in the area, thats how I found mine.

Scott K. · Answer

It says you are from Detroit.  But the property was in Detroit and you didn't go see it?

I am getting into doing this very sort of thing.  Don't rely on a realitor.  Get a 3rd party and have them do it.  Get someone that knows the area and can also tell you what the rents are going for.  Also show the rest of the neighborhood.  You know how the realitors just love the tight shots of the house

Have you ever dealt with a faulty realtor? What did you do?

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