Shady realtor?

Disney / Eng DisNinja
Jul 8 13 Comments

So I'm the market for a home in the Los Angeles area. Went to an open house for a decently remodeled flip. Talked to my realtor about issuing an offer, and apparently it had a $1 commission for the buyer's agent.

Apparently, this guy routinely buys houses and flips them representing himself as the seller's agent, and tries to cut out the buyer's agent. The only thing that makes sense to me is he targets people without (or not committed to) an agent so he can collect on both ends.

They've dealt with this guy before and supposedly he gets fined routinely (Presumably by the NAR?) but is more than happy to eat the fines. I'm just confused on why he doesn't lose his license if what he's doing is in violation? Anyone have any insight on this? Thanks.

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TOP 13 Comments
  • Microsoft douche
    shady realtor? like there are not shady ones? the profession itself must cease to exist, useless middle men taking your money for nothing. best case should be fixed cost depending on the “service” provided
    Jul 8 7
    • Peloton / Other
      Thizzy

      Peloton Other

      PRE
      Peloton, Samsung Electronics
      Thizzymore
      I'm not a realtor. I have my own licence because I like to know what goes on and protect myself and just for knowledge/investments. You seems to know nothing if you think it's about getting an independent inspection which isn't even done by the agent or just a real estate contract from a lawyer lol. Those are two different things done by two different people other than the agent. Seems to me you are talking out of your ass and have never purchased a house. Leases are different, kid. So no, you fuck off.
      Jul 9
    • Microsoft douche
      haha ok sure, as you say, realtors provide so much value, totally worth their 25K for setting up an email list, the value is so big, they can’t even describe it.

      lmao what a bunch of leeches-losers, enjoy the gravy train before the tech will completely destroy it like tesla fucked the dealerships (and the consumers lost so much “value”)
      Jul 9
    • Peloton / Other
      Thizzy

      Peloton Other

      PRE
      Peloton, Samsung Electronics
      Thizzymore
      Is 25k a set commission? It's a percentage you asshat. It's also negotiable. Usually depending on your area. In NY it's 3 percent and it's split between buyer and seller agents. 1.5 to 1.5 or 2 to 1 etc. If it's 25k commission, the property is worth over 830k. When it takes a month at minimum(without mortgage all cash buy) to 3months+ to close a deal, you think 25k is alot? Especially after all the work aka value they are doing? You have never worked a commission based job before have you. Your entitled, elitest attitude is what created the world we live in today where there are pronouns and ridiculous things that are now done for basically political or capitalist reasons. Some things they do simply put are:
      1. Help price your home
      2. Effective marketing
      3. Screening for qualified buyers
      4. Closing expertise
      If you think closing is easy, you just don't know anything. I use agents even though I can do it myself due to time constraints. I own commercial and residential properties and just from your post, have more experience in this field even though it's just a side hobby for investment purposes. It seems like you had a bad experience and maybe went to a bad/unprofessional realtor due to you being cheap or not seeing value.
      Jul 9
    • Microsoft douche
      haha lmao what ab idiot, buyer’s agent taking 2.5% in the bay do absolutely 0, show up a couple of times and set up an email list worse than doing yourself on redfin, “value” my ass. and yes homes here are ALL over 1m so they are getting 25K for 0 work and can fuck off along with you.

      Seller’s agents actually do something but in this seller market their value is questionable AND no way in hell their marketing and staging costs 30 grand. Laughed my ass off at you 3 months closing, here a mortgage closes under a month and an all-cash under a week, you have no fucking idea what you’re talking about, a bozo pretending his busywork costs 2.5% of a million+ house, not it fucking doesn’t.

      the only realtor’s earning their pay is the ones selling cheap crap hence my comment on fixed price for services and only for selling agents, buying agents = 100% leeching useless middlemen
      Jul 9
    • Microsoft douche
      but hey, since realtors are so valuable, why don’t you remove the protectionist laws and let the free market sort it out? people will be paying for this amazing service anyway? right? right?

      oh no they won’t because there’s no service and you suck, like in the case with dealerships you only exist because of the lobby.
      Jul 9
  • New VNHu03
    he is probably restricted and doesn't have a license and that's why he is stuck on flipping houses where he tries to be both the seller and buyer and on paper it's just a private sale with no agents
    Jul 8 0
  • Amazon gggshs
    Count apparently, presumably and supposedly in your question
    Jul 8 1
    • Disney / Eng DisNinja
      OP
      Lol. Sorry with the Disney vagueness. I only have the information my realtor gave me and don't want to presume it to be fact in case I misunderstood anything.
      Jul 8
  • New / Product XVrn30
    If I was you I'd run my own stats on the financials and have a law firm do the contracts. But if it's the only neighborhood you'd live in and sales come up every few years I guess you'll just have to accept it.
    Jul 10 0
  • Nvidia btfd
    Ask for the deepnudes. That will tell you what kind on person he is.
    Jul 8 0

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