No. They do not. I could stop there, but let me spin you a little story about what happened to Paris and I back in the day when we bought our first home.
There was a reason the agent was not showing us new (new builder and new construction) homes – This is quite true. After sitting in our car and following him in his, we asked about new housing. He said we did not want to buy a newly built home, they are badly built. Why would he lie – both Paris and I believed him. Truth be told – it was not that they are built badly. I sell those same homes today, both new, re-sale and those that were built at the time when we bought our first home and were taken by our Santa Clarita real estate agent and they are fine. The reason he did not want to take us to the new housing tracts is because they were not going to pay him a commission. (today the new home builders pay us to represent buyers – in some market, someday in the future, they may not again)
There was a reason we were not being shown listings by other real estate agents – While driving around, we saw real estate signs. We saw a lot of them. Each and every time, our agent would tell us they are not available, they had been sold but the sign hadn’t been taken down as of yet. I know real estate today and looking back I know he was lying to us. He did not look at anything, he was speaking off of the top of his head. He never verified with us and we never looked at a single listing that was not from his real estate office. He was not showing us other agent’s listings because he wanted to double end us – (represent both the buyer and seller). He also wanted us to quietly take what we were sold without any fuss…
I wondered why we did not ask for anything to be repaired – This one did not reveal it’s self until later. We later found out that our agent had been a property manager and a personal friend to the seller of the home. We also found out that the seller was a licensed real estate agent and that little fact was not disclosed during our purchase of the home.
I could not figure out why our home flooded when I took a shower and at the same time a toilet was flushed as was the wash machine was running – Faulty plumbing was later found to be the cause. In fact is that the “main” from the home to the sewer had just been cleaned out days before our home inspection, via the plumber’s rotor rooting tool. It was full of tree branches from the large trees in the yard of this home. Our agent did not let us know this. It was later proven he did know, he was the one that called the plumbing companies in the past during the tenant times to have the main cleaned out.
I thought my agent was on an extended vacation – I could not get into touch with him when the home flooded. I went to visit his boss (figuring his broker was his boss), boy, I could not have been further from the truth. Agents are “independent”, I know that now, but did not then. His broker was covering for him. I paid many visits to his office. I left many messages on his office line and paged him a lot. No call back no further (cop jargon). A few days went by and still nothing. I was shooting radar in Hollenbeck division while on Motors with the LAPD – I was sitting next to my partner. We were both on Black and White Police Motorcycles – LAPD issue. If memory serves we were on Huntington Drive???
Knowing what has been going on in my life with the home purchase he asked, “Hey Connor, did you ever get into touch with your agent?” – I said, “no”. He said, “Why don’t I call him, tell him that I have a suitcase of money and set up an appointment to meet with him. Then you can meet with him in my place and get what is coming to you…” “Great idea”, I said.
So he called the agent’s office. They asked who was calling, my partner gave his name, and a message was taken. When we returned to the station later that day, there was a message from the agent to my partner with the agent’s home phone number. Wow I thought…. Apparently he does get his messages 🙂
The drill went down as was talked about. My partner pitched the agent saying he was pre qualified with the bank, has good credit and wants to spend $300k on a home in Santa Clarita Valley. My partner asked where they could meet to set up some home showings. The agent gave the meet location and I was jazzed.
My agent did not know what to say when I showed up – I have to say, my agent – that fast talker – did not miss a beat. “oh, I had been wanting to call you, but I lost your phone number.” – Sure, I thought…. Liar, I thought…. I explained what I had found out during my investigation as outlined above and he took care of the issues I had been having without any argument.
Why was he not arguing about anything outlined above? Because the agent knew that he could have lost his real estate license and his entire business. I’ll never forget what he told me after the home closed escrow and before the “flooding incident”. “Hey, if you have any cops that want to buy or sell a home – have them contact me – I’ll throw you $50 bucks…”
You can bet that I never referred anyone – We just became licensed real estate agents in order to fight the “takers and predators”, like this Santa Clarita Real Estate agent, out of the real estate game….