True Gotham

The beauty of having my own real estate blog is that when I get an urge to vent...well...I vent.  Now I will preface the following rant by saying that in my 16 years in the Manhattan real estate business, I have never seen such a large percentage of competent, knowledgeable, and professional real estate agents than those who make up the current agent pool.  That said, there is still some "weeding" that needs to be done and gaging by the incessant hiring that the big firms continue to practice, it will be up to the consumer to "pull the weeds."

What am I talking about?  How's this for starters all based on my personal interactions with seller's agents over just the past 30 days:

• Selling agents representing property on the Internet without photos, floor plan, or video and irritated when asked for photos or floor plans.
• Selling agents unfamiliar with building policies, financials, amenities, and/or Board practices and irritated when asked questions regarding these topics.
• Selling agents taking overpriced property only to procure buyers whom they can steer towards other properties.  These agents are often irritated by sellers questioning their marketing strategy and overall activity.
• Selling agents unable to provide complete information regarding their sellers and their attorney to facilitate a contract (this info should be at agent's fingertips when an offer is accepted to insure an expeditious transaction).  The agent should also have copies of financials for the building, the offering plan and all amendments, and a purchase application.  Again, this particular agent was irritated by our multiple requests for information over several days stating simply, "this is how I work." Does the seller know "how you work?"  I would bet not.
• Selling agents unavailable to show their exclusive listings. This requires some elucidation...so here goes...obviously there are times when a seller doesn't want their place shown and often there are also times when an agent has conflicting appointments and can't accommodate everyone.  Understood.  But how about the agent who lives in Connecticut (why they are selling Manhattan real estate is another topic?) and doesn't want to have to "take an early train in the city to show at 10:30AM."  And guess what?  She became irritated when we persisted in getting a late morning appointment. 
• And the penultimate...the selling agent who doesn't return phone calls...for days...or EVER?  I wonder if they communicate with their sellers at all.

Anyway, these are just some examples of the dregs of my industry whom I have been forced to try to work with recently.  Fortunately, and as I previously stated, these circumstances are not the norm but I'm certain that each of the sellers involved with these agents is completely unaware of the obstacle that their agent has become in the selling of the property.  If you're one of these agents, (you're obviously not because you're reading this) BEWARE.  Sellers are going to continue to demand more from you. So shape up or be weeded out.

So what should a seller do?  Give a little listen to this podcast from June 2006 for my take on selling your Manhattan apartment.  The advice is timeless and it's less than 20 minutes long.

hi doug!

sadly, i have also experienced dealing with these types of listing agents. not only do they make our industry look bad, but they are also not acting in the best interest of their seller clients.

where's my weed wacker?

- rudy

doesn't venting make you feel better!

I knew it!!! "Weeds" don't read this blog. Heck they likely don't read much at all. For those who don't know already, Rudi and Noah are 2 of the great ones exhibiting honesty and integrity at levels that ALWAYS put their client's needs first.

Thanks for stopping by guys and indeed it feeels VERY good to vent!

Hello Doug,

I could not agree with you more. It is staggering to review the number of lisitngs that have invalid or incorrect information no internet representation or marketing plans. I often feel like calling the agent and asking them "what were you thinking"

I hear you Kevin. I'm b;logging on Monday about the incompetence of 3 of our colleagues who made things up, were completely misinformed, and were an obstacle in selling 2 apartments. It's ridiculous how much incompetency there is out there.

Doug-
You are spot on! I could probably make a list that could go on and on. Another thing that irrates me is when these agents from the big REBNY firms act far outside of the rules (which is why I do not value REBNY all that much). Some conduct that I have experienced in the past year, all from the big firms:
After having agreed to co-broke a listing and having the agent sign a co-broke agreement, she found the buyers name and called him to attempt to steal the listing (didn't sit well with me or the buyer).
An agent with a newly listed apartment claims that an apartment is not showable because the owner was out of town for 2 weeks, then 2 weeks later saying she sold it a week ago.
I had a bid for an apartment by phone and email and the agent refused to call back until 2 days later, at that point she said the owner had accepted an offer even though it was $100k less than my overqualified client (that was a doosy).
I had an accepted offer and a assurance that the owner would not consider another offer even if it was higher. The day my clients signed the contract, the agent accepted another offer $100k higher and gave my clients the opportunity to beat it, but they were so angry at his going on his word that they offered $50k more and lost the deal.
All of these agents were experienced and well seasoned in the business. It is unfortunate that in addition to rookie agents not knowing what they are doing, there are plenty of experienced agents who are ethically challenged.

P.S....Love the blog!

Thanks for sharing Andrew and happy you love TG!

Unfortunately, none of your stories surprise me which is precisely why we need a "weed wacker!"

I'm a big believer in Capitalism, I'm sure that they wack themselves. The rise of the mega-broker is also the demise of the mega-broker. More and more I am finding fantastic clients who seek me out because I can provide a superior level of service. Running a small firm, I also have the luxury of hiring only the very best. Cheers to the small broker! Our day is here!
P.S. What happened to your Hamptons page? I've done a little on my blog as well. Feel free to grift my posts from EH.