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When To Dump Your Realtor? 💭Reasons To Fire Your Real Estate Agent In 2020 w/ Mortgage Lender 👌

So yesterday at the end of the va video I went on kind of a tangent about realtors

And I was like as soon as I stopped I went okay. It's time for another one of these

It's been a couple years since i've done the like here are some signs

You should dump your realtor and I say realtor and some people are going to correct me because it's supposed to be real tour

I add an a and I like to

Realtor? Yeah, because realtor I don't know. I don't like it

Um, so we'll get that out of the way because I always get a real tour correcting me

so

When do you dump them? Okay

As a lender I see

Every type of realtor you can imagine I see the good the bad the ugly the dumb and the even dumber

And i'm not trying to be rude, it's it's here's the bottom line. This is a job right as a lender

This is my job. My job is to know guidelines know where i'm in the market with raids protect

My clients try to give them the best service possible. But also make sure that they're fully informed and aware of what's happening

So they make decisions that affect them positively not negatively as a realtor. They have the same responsibilities, okay

They have a fiduciary duty to you. They should know the market. Um, they should know what houses are selling for they should know

What's a good deal? What's a bad deal?

They should be able to alert you to things like hey

You should probably get a pest inspection on this house or a home inspection or what about this house or oh, yeah

That hill's totally gonna fall down and kill you

Stuff like that, right?

However, as with many industries just like lenders we have good and we have bad and realtors same thing

Man the bad ones are annoying guys. They're so

Annoying so annoying as a lender. We just cringe every time you guys pick a bad one

and the reason is it does so much harm to you so

Generally, you know, the first thing is let's let's just spill a couple myths

Okay, if someone says to you, well i've been in business for 30 years and you're like wow

They've been in business for a long time. They must know a lot

I don't know how many deals have they done? How many houses have they closed?

How many houses have they closed in the last six months?

You can be in the business for 30 years, but if you sell one house a year

I mean that's not experience that I would trust or I would rely on

I would want to make sure that the realtor I was working with is a market expert because

That is what they're being paid for. They're being paid to be a market expert now

A lot of times people go. Oh my buddy's wife's a realtor. She'll show us around. It's no big deal. No no, no, no

As a buyer, you are not the one paying for the realtor

The seller is get the best one you can find don't get the buddy's wife unless she is the best one you can find

and not every there's not

One best realtor in area period it depends on what you're looking at. There are some realtors

They're really good at houses over a million dollars. There's some they're really good at 200 000

There are some that are great at condos. There's not one realtor that's amazing at every price point

So you really want to make sure that whoever you're working with is the expert in the price point that you're looking okay?

Here's a couple signs. You should dump your realtor

Number one they don't respond to you. Now. Look if you're texting them at eight o'clock at night

I agree. They shouldn't respond to you if you're texting and calling it five a.m. In the morning

They shouldn't respond to you if you're texting or calling during business hours and you're like, I mean if you're doing it every 15 minutes

You're annoying. It's not them. It's you but if you're just asking like hey, i'd really like to see this house

Can we see it and they don't respond to you for two days?

That's not normal behavior. A good realtor will respond and be like yeah or no or you know

It's not a good fit because of this but they'll respond

okay, if they're

Non-responsive don't sit there and be like, oh, I mean follow up for sure because maybe they didn't see the text

You know, I don't know how busy they are. I can tell you that personally with my text messages

sometimes i'll look at it and i'll scroll back and i'm like oh my gosh, I missed one and it's just because

We're in this age of communicate communicate communicate communicate and it can be really hard to keep up with but at the same point

If you're working with a realtor who's not insanely busy and doesn't respond

um

Yeah, and if they are insanely busy just give them a day or so to respond. So

Number one. They need to be responsive number two. Are they listening to you?

Right. So if you say hey, I really want a three bedroom two bath and my budget's three hundred thousand and they keep on showing

you four bedroom four bath and

There are four hundred thousand

How does that work? That is not someone that's listening to you?

Now if you say you want a four bedroom four bath and your budget's 200 000 and they're showing you two bedroom one bath

That's to tell you that with your budget what you have

Aspired to is not realistic, but it should be a conversation

It should be like hey I get that you want that in this market?

This is the price point for those houses at the price point you are this is what we are looking at

Okay, just honest transparent ethical

Talk about it

Communicate why am I showing you condos when you want a house?

It has to be explained if they can't bother to explain it to you. You need to run

Okay

Um, they think they're a lender

And maybe that's because i'm biased that I hate realtors that think they're lenders but

Lending is intricate

the amount of guidelines that we have in our head and also

No lender knows everything. It's impossible guidelines are constantly changing loan programs are changing. Everything's changing. It's in flux

So it's like I will say to a client. Hey, you know what? Let me check with an underwriter. I'll call it a driver

Hey, what do you know about this most of the time they may know offhand?

Sometimes they're like, you know what? I haven't had that question. Let me look it up right now

We have a realtor that thinks they're a lender

They're spouting off knowledge that they may have like overheard from a a real lender like 10 years ago

They're not lenders. They're not doing it every single day. They're not in the market. Um

So whenever they start telling us like oh, well, you know this guideline it's like you don't know guidelines

Like what guideline are you talking about? You need to stop please stop. Please stop now

There are some that are amazing. There is one realtor that I work with and

She's not a lender, but man, I would love to hire her because her attention to detail, you know

Every single transaction she pays attention to she's like a sponge but overall if your realtor is trying to also be your lender

Or tell you about loans be afraid just be afraid and they might be trying to be helpful. But at the same point

Not their job, right? It's not my job to tell you

Hey in that house. You should look for granite. Not my job

Like my job is to tell you this is where rates are. This is how much money you need to spend

Everyone needs to stay in their lane

Um another reason to dump for realtors if they're mean to you

yeah, there's a lot of people who are in abusive relationships with realtors and I don't mean physically but I mean like

There's a certain breed of people that always make you feel lesser than

And it doesn't mean they're better in any way shape or form

They're just super good at telling other people that they're not good enough. So

we'll hit those where it's like the buyers come to me and they're like

Oh, they said our offer won't get accepted

If we don't do this if we don't do that if we don't do this

And they're just getting so beat down by these realtors that they just stopped looking

And the bottom line is is that it's like look you may not get a few houses, right?

It doesn't matter if you're buying a house with a va loan or you're buying a house with five percent down

Or you're buying a house with 50 down if another buyer walks in and offers the same price at cash you're going to lose

Doesn't even matter nothing else matters. So when realtors are like well we need to make your offer more attractive

So if you could just say you're putting down more not do it, but say it like lie

or

You know, if you can waive your appraisal contingency, if you do this if you do that

If you do this then maybe we'll get your offer accepted. It's kind of like hey guys

Why don't you find them a house where what they actually qualify for?

Uh will work

Okay, and it may be a waiting game it is a super hot market

But sometimes people are like well if I have three percent down no one's gonna accept my offer

Or the realtor told me i'm va no one's gonna accept my offer. It's not true. It's not true, you know

across the country

millions of those loans are being done millions of sellers are taking those loan offers, you know a realtor who's just like oh,

Well, if you can't do cash

Like it's not a good realtor like look

I I mean, of course you're easier if you if you're cash like

I mean

Uh, it just makes me so upset because I see people get so beat down

And they start to feel so worthless because they feel like I guess i'm not good enough to buy a house

And if your realtor is making you feel like you're not good enough to buy a house you're with the wrong realtor

There are so many good smart talented realtors and the ones that I see they don't treat people like that

The people who treat people like that are not successful realtors

It's realtors who don't really know what they're doing. But trying to pretend like they do

Right. So if you're dealing with someone where they're starting to make you feel worthless and you're starting to feel like a bad person

Get out of the relationship

Seriously get out of the relationship and that ties in with temperament temperament's really important when you're when you're working with a realtor

You want to make sure that you're working with someone that's likable

And the reason is is like as a lender I can tell you there are certain realtors where the sellers will avoid them

At all costs the listing agents are like I do not want to work with them

They are the worst right and in my local market, there's one guy he lies on every single offer. He'll tell the

Listing agent. Oh, yeah, they're putting down fifty percent when they're doing a va hundred percent down low like a hundred percent finance loan

He just lies he lies. He lies he lies and it makes it so that his clients don't get offers accepted because

No one wants to deal with him

No one wants to deal with him, you know, and then we also have the the diva coalition, right?

there's like this whole breed of realtors where they're like, so

snarky and nasty and just mean and look every industry has this so i'm not just saying that but

I mean

So brutal that no one wants to accept their offer either because no one wants to work with them

So you really want to make sure that the realtor that you're working with is likable

Do people like them do they do business if you were in a coffee shop and you met this person?

Would you want to sit down and have a scone with them?

because if you met this person in a coffee shop

And you felt like they were judging you and you didn't want to be near them. Well, guess what?

I bet you that's how the listing agent feels as well

So the big thing to know about this is that if a realtor is pushing you to do something you're not comfortable with

It's probably not the right realtor for you, and I know i'll get a comment

That's like oh jen, you're not a realtor. You don't understand? No guys

i'm

the lender that sits in the chair that talks to the client on the phone that hears all this stuff and just goes

Why are they being abused it's not. Okay, it is not okay

So you really want to make sure you pay attention to that. Um

Really make sure that who you're working with is qualified does a good amount of business but is also the expert in your area

and your price point so important and if they ever start to make you feel lesser than

dump them

No one should make you feel lesser than ever

Thanks for watching questions comments. Feel free to reach out

I'm sure i'll do another follow-up to this one because I know I didn't cover a lot of points

I probably should have written them down

but it was just it's been on my mind because i've had a couple clients recently where i've just been like oh

Please dump your realtor. So thanks for watching