The Real Estate Replay With Wendy & Lindy: Recent Episodes
Wendy, Founder of Selling Later
Enough with experts, it's time to learn how the real estate industry really works by listening to other sellers and buyers.Hosts Wendy Gilch and Lindy Chapman interview actual sellers and buyers to learn the good, the bad and the ugly of their experience. Learn from their mistakes and copy what they did right to get yourself ahead in the market.
Ever feel like there's something more to those "free" real estate platforms? We're revealing the truth behind agent referral systems and the hidden costs they bury. In this episode, journey with us as we question the standard commission rates, challenge the lack of transparency in the referral process, and share our own practice of recommending agents without expecting a fee. We also take a critical look at how large platforms track transactions and the resulting squeeze on commission negotiations, inviting you to consider how much of your money really goes into the service you receive.
Charles Boon, a Colorado broker with as much expertise in real estate as he has tattoos of homes sold on his arm, joins us to dissect the impact of referral platforms on your wallet and property negotiations.
As a special bonus, and because there is no way to avoid talking about, we also discuss the NAR proposed settlement and how it might impact these referral platforms, but also how it's currently making everyone lose their mind.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
New Data In 10 (or less) episode!
Peel back the curtain on real estate's shadowy corners with us, as we expose the truth about industry practices that could be dipping into your pocket without you even blinking an eye.
This episode brings you a raw look at the iBuyerss. As they make their way back to the market with big marketing dollars to spend, it's important that you understand the many ways they make money off of you (it's not just from buying your house).
Learn about iBuyers like Opendoor and Offer Pad, and discover the real cost of those tempting cash offers. From commission structures that may not always have the seller's best interests at heart to the goldmine that is your personal data—our new data in 10 episode on ibuyer's hold nothing back.
Discover "Data In 10," your go-to resource on companies selling your information (in 10 minutes or less). As new FCC rules reshape the real estate landscape, it's crucial to understand the impending changes and their impact on you (consumers) and the value of your information.
Before the new rules take effect, we're committed to educating you on the myriad companies profiting from your data. Uncover the true value of your information and how, often unbeknownst to you, it's traded. The potential impact is significant – your data's value influences the quality of service you receive and can affect the fees and commissions you pay.
Pay attention and protect your data!
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
If you are thinking of buying a home this year, you need to listen to this episode!
In light of the many antitrust lawsuits floating through the court system, the messaging now being pushed to agents is to get a buyer broker agreement signed with their client ASAP. Unfortunately, most of these broker agreements are not "pro-consumer," even though the industry loves to throw that term around like candy.
In this episode, real estate attorney and licensed broker, Doug Miller, joins us to expose who is writing these agreements and how certain contract clauses can undermine a fair deal for homebuyers. Additionally, the episode casts light on the subtle ways consumers end up footing the bill for brokers' business expenses.
Learn About Buyer Broker Contracts
Steve Brobeck's Report On State Commission Boards
Review Current Antitrust Lawsuits
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
There is a hidden side of the real estate industry that we like to call the "underbelly." The underbelly is where all the bad stuff is hidden from consumers and rarely discussed. Those that do discuss the "underbelly" are typically discarded, ousted, or avoided.
When we saw Preston Kincaid's recent videos on his experience with the real estate underbelly, we knew he would be a perfect fit for our podcast to discuss the challenging relationships between "deal killer" inspectors and bad agents.
In this episode, Preston and Wendy discuss how he is treated by good agents, vs what happened when a bad broker labeled him a "deal killer" and banned their agents from using his services. They also get into home flippers, red flags to spot, new construction, and what you should be looking for when searching for a home inspector.
Preston's Tiktok @inspector_preston
Preston's Business Page
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
The many antitrust lawsuit that have hit the court system recently have created the idea that “big tech “is going to replace real estate agents. But if that’s possible, we need to understand how much they currently make off of real estate agents (that you don’t see).
This episode features Florida real estate broker, Matt Wheatley, and covers the models of some of these big businesses, the impact of antitrust law suits on their business, what the future may look like, why we should demand they be more transparent, and a whole lot of extra stuff about fees, hating being in sales, humility, and why social media makes our brains hurt.
Matt’s Tiktok: @mjwhomes
Submit your dumb question: info@sellinglater.com
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
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Back in June, Rob Hahn joined our podcast to explain the three anti-trust lawsuits that were floating through the court system.
A lot has changed since then, including $5 billion in damages that is sitting in front of a judge to decide if that amount is fair and just. That $5 billion is just one of the now four cases in the system (with likely many to follow).
With so many changes in so little time, we asked Rob to join us again to not only give us an update on the cases and damages, but also give some insight into what consumers should be looking for in the future.
Rob and Wendy also discuss the many dumb things real estate agents are STILL posting online and telling clients that prove steering and conversations between agents to keep buyer commissions inflated. Plus a conversation on why real estate brokers (or brokers in charge) should be worried.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
We've been receiving a lot of questions about Antonio's story, specifically asking how in the world the adverse possession case was botched.
So, for all you legal lovers out there, here is how the simple adverse possession case was botched by Antonio's attorney.
For more details, go to the previous episode to learn how this botched case against the Remax listing agent has led to seven years of harassment, abuse of police and judicial services, racism, and much more!
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This homebuyer story is quite possibly the worst story we have heard when it comes to accountability (or lack of) in the real estate industry.
As a kid, Antonio's family would drive through the wealthier part of Kansas City, MO and dream of one day owning a home there. Some 40 some years later, Antonio finally had that chance to buy a home for his parents in that neighborhood. But what was supposed a dream retirement for his parents, turned into a nightmare when the Remax listing agent of the home he bought (who is also the neighbor) claimed adverse possession on the property she sold them.
Thanks for an incompetent lawyer, what should have been an open and shut case has now stretched out over seven years. Over those years, Antonio's family encountered a botched contracting job, harassment, racism, alleged blackmail and more! Yet through all of this, the agent, her broker, and Remax have never been held accountable.
The worst part of this story is that Antonio's father is now ill. So, what should have been a luxurious, relaxing, happy seven years for his parents in that home, was ruined by the listing agent.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
Three anti-trust lawsuits are making their way through the court systems that could potentially change how (and how much) agents get paid when buying or selling a home.
While these billion-dollar cases are some of the biggest lawsuits ever hitting the National Association of Realtors, you likely haven't heard much about them.
But why?
To help dissect these cases, we asked our friend Rob Hahn to join this particular episode. Rob is the co-founder of Decentre Property Exchange. He is also the managing partner of 7DS Associates, which advises brokerages big and small in real estate to make impactful changes. Rob also graduated from NYU School of Law, focusing on corporate law and international bankruptcy. Although he is a self-proclaimed "retired lawyer," you can see why we thought he would be the perfect person to explain what is going on with these three cases.
Rob Hahn's Website
Rob's Case Webinar For Brokers
Related Business Insider article about these cases
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
A disabled Veteran reached out to us a few weeks to share their story and asking for help.
Their agent told them (on the phone) that they have to waive inspection and ask for nothing to win, essentially buying a home as is. This home was recently flipped by out of town developers, yet their agent still insisted they waive inspection and ask for nothing. The agent then had the buyers sign a waiver basically removing any responsibility from the agent for saying they need to do this. After closing, the buyers discovered over $80,000 in problems (on a $300,000 home) and are left with no one to help them.
Believe it or not, there are markets in the US in which waiving the home inspection is still a tactic buyers are using to get their offer accepted. But how can a buyer do this to protect themselves, and is it really worth waiving it at all?
MA Real Estate Agent, Patricks Brusil joins us to discuss waiving inspections, why buyers are doing it, the issues that arise from this strategy, and why buyers and sellers need to start pushing back on advice given by asking the simple question "why."
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
Multiple buyers have reported being sent an invoice for a credit report from lenders they chose not to use. While you do pay for a credit report at closing, why are buyers suddenly being charged for credit reports from lenders they said no to?
Chelle Prunkel joins Wendy again to discuss this topic and how to make sure you don't get a bill in the mail from a lender you didn't use.
They also discuss the basics of credit, what affects your score, how credit companies make money and the battle to get them to stop selling our data. They also discuss the misinformation you find online when it comes to mortgage news, like the "40 year mortgage."
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This isn't the first time we have heard a story like this, and likely won't be the last.
This homebuyer was already pre-approved but when chatting with their agent, they were told they should shop around and then were given the contact information for this agent's "partner lender."
Three days later, the buyer mentioned to their agent and the "partner lender" that they have another rate and if the lender could match it. The agent freaks out and tells them to stop shopping around (even though she told them to do so three days prior).
We want to know why after meeting with her partner lender is the buyer supposed to stop shopping around.
Chelle Prunkel joins us again to dissect this story and also discuss...
- How long you can shop for rates
- The Consumer Financial Protection Bureau's warning on online rate shopping
- Rocket Mortgage and their "not rocket mortgage" website
- Rocket Homes Agents being told to not steer their clients away from Rocket Mortgage products
- How to compare rates between lenders and what to look for
- How "Partner Lenders" can pay for your agent's advertising
- Why you should be concerned if your agent only recommends one lender
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This buyer swears their offer was market value, but was shocked to see the appraisal come back $100,000 below their offer. While the buyer and the agent point their fingers at the appraisal, it made us realize that we don't ever really get to hear the appraisers side of the story. We don't see them, we don't talk to them, but are they really the bad guys in the buying process?
To dissect the world of appraisals, we asked Daisy Glassburn to join us for this epsiode.
Daisy has been in the appraisal business since the late 1990's. Not only did she help with forensic audits during the housing crash in 2008, she also periodically serves as a hearings officer for various counties making recommendations to the board of commissioners as to property values when home-owners are appealing their assessed values. She believes that appraisers are there to best protect consumers, but that the industry has placed them far away from the very people they are supposed to help.
Things she explains in this episode:
The difference of certification in an appraiser vs realtor
Why we can't see or talk to them
Who gets a cut of the appraisal fee we pay
How appraisers judge value
How often do appraisals match the contracted offer
How your renovations don't equal that same added value
How to dissect your appraisal
What to do if you think your appraisal is wrong
How the industry isn't putting consumers first
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This homebuyer went to schedule their home inspection for their brand new construction home. When reaching out to the sales person to schedule a day, they were given a two paragraph email as to why you don't need an inspection on your new build home.
So do you?
Joining Wendy to dissect this story is Robb Williams. Robb has been in the construction and concrete business since the late 1990's and is a real estate agent in central Alabama. In this episode they talk about new construction, what upgrades are worth it, which aren't, why you should get an inspection, and the major issue currently facing the new home builder that is impacting everyone.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
We came across this review of an agent and knew it was something we had to discuss.
According to this buyer, their agent was obnoxiously taking selfies and videos instead of helping them look at homes. It got so bad that the clubhouse manager of the exclusive community they were touring asked the agent to leave.
Which brings us to the question, are agents as successful as they seem online?
Jonathan Self, a Chicago real estate agent, joins us to discuss the social media hype of real estate agents, the competitive nature of real estate, and how to decipher what's real and what isn't when looking for an agent online.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
Our original co-host, Lindy Chapman, joins us for the next few episodes to discuss all things agents, commissions and transparency!
For this episode, we breakdown the many buyer agent incentives that are, at times, not visible to buyers. Whether it's an increase in commission based on sales price, a bonus to a builder for having three clients build, or even $5,000 from Opendoor for having clients hand over their homes.
Learn how to spot these incentives and how you can make them work to your advantage.
0:58: Examples of agent commission incentives in private remarks
2:44: How do you know if your agent is getting an extra incentive
3:40: Why a seller would offer an incentive and the impacts on a buyer
4:20: What is a "private remark" and buyer compensation now publicly viewed
6:00: New construction incentives and how to make them work for a buyer
6:30: Inspections and new builds
8:50: What to know if using an agent when building
9:30: When you could negotiate a buyer rebate
11:10: Understanding agent commissions and potential "fee for service" model
16:56: The need for less agents and more education
18:52: Incentives that Opendoor offers to agents and their current troubles
21:56: How to protect yourself as a buyer from bonus incentives
23:20: Commissions and how Zillow and Realtor.com get a piece
24:26: The bait and switch on best agent platforms
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This homebuyer met with an agent who then referred them to a different agent and told them they expect him to pay a $900 admin fee (in addition to the 2.5% to 3% they are expecting to collect in commission).
We've actually written about the BS admin fees in the past on Selling Later, but never have we seen one for this much! We've also recently seen brokerages call this fee by other names like "Regulatory Compliance Fee" or " Transaction Fee." Even more interesting is that you likely won't see this fee much in Dallas or Seattle, but is rampant in other mid sized cities.
So what is an Admin Fee and how can you avoid paying it?
Matt Wheatley, a broker in Florida who doesn't charge an admin fee, joins us to discuss where this fee came from, why so many brokerages charge it, and how to negotiate out with your agent.
0:43: Buyer story
2:07: Intro to cohost Matt Wheatley
4:17: What is a buyer/seller Admin fee?
6:11: Why are fees so rampant today?
10:30: Are these fees required by the state?
11:10: Past admin duties vs todays duties
12:05: Agents making other agents pay their fee
15:15: Where to find this fee?
19:30: How to negotiate this fee away?
22:35: Matt's pet peeve in real estate
25:40: Finding out your agents reputation
26:24: Internet trolls in real estate
Contact Matt
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
It's the battle of the budgets!
In this buyer story, a husband and wife can't see eye to eye on their home budget. One wants something inexpensive that they can afford on one salary, and the other wants the home to be perfect when moving in, which comes at a much higher cost.
So what causes the budget battle?
For this episode, Hilary Mancuso joins Wendy to discuss homebuyer budgets and the negative impact of HGTV. Both older millennials, Wendy and Hilary also discuss the effects of social media on younger buyers and how we need to start unfollowing those that trigger our FOMO, comparison, and anxiety.....which includes Zillow.
Contact Hilary
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This episode is a must listen for those getting ready to sell their home, especially if your home is in a different town.
This homeowner had to sell their home while living in a different state. While things started out good with their agent, the experienced soured quickly as the house fell out of contract.
Not only did their agent pull their house off the market for a month, she then went on to update the home, without the homeowners approval. The agent then expected the homeowners to pay her an additional $20,000 on top of her commission for said work. To top it off, one of the "vendors" that worked on the home was the agents brother, who was set to pocket $5,000.
Joining this epsiode is William Brandon Spinner. Brandon is a real estate broker licensed in New Jersey and Pennsylvania. With experience in not only real estate, but remodeling homes, we knew he would be the perfect person to help figure out what the heck went wrong for this homeowner.
Contact William Brandon Spinner
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
For Part 2 of this buyer's story (listen to Part 1), we want to focus on what happened with the new build lender. Why did her closing costs increase by 15% and why she didn't know they used points to buy down her rate?
Joining the co-host seat for this episode is Chelle Prunkel. Chelle is a Senior Loan Officer who has seen and heard it all. In this episode, she talks about how to find points on your estimate, what can impact your closing costs, and many other tips for new buyers hitting the market.
Contact Chelle
More about mortgage points
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
In this two part series, we share a buyer's story in which she felt steered into building a new home. Not only did her agent stop communicating with her during the process (and still try to collect 4% commission), but she also discovered many issues with her loan from the builder.
In part 1, Real Estate Attorney and Agent, David Tkacik, shares his thoughts on what went wrong in the story and what you should expect from your agent when building a new home.
David and Wendy also discuss some "gotcha's" when building new, the importance of getting an inspection, and tips on dealing with the builders warranty department.
More importantly, David is a great advocate for buyer rebates in his state. In our discussion, he shares how some new build buyers are able to save money by using a buyer rebate at the closing table.
For those wondering, here is the article that upset a few people in the industry. :)
Stay tuned for part 2 as we discuss the issues this buyer faced with the builders lender.
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
This episode is for you if you are a buyer getting ready to hit the market!
This first-time homebuyer had their agent refuse to submit an offer for them on TWO separate occasions. This second time, they wanted to offer 4k over asking with 4k in closing costs. Their agent told them it was insulting to offer that and compared their offer to a home that sold for 10K over asking SIX MONTHS AGO.
For this episode, we bring in our favorite agent on Tiktok, Kim Drakulich. Kim gets honest with us about why it's baffling that this agent would refuse to submit the offer. She also shares her experience with newer agents who haven't mastered the art of negotiation in a changing market.
We also get into red flags you should be looking for when interviewing listing and buyer agents, as well as the one thing Kim thinks consumers misunderstand about agents.
Kim's Profile
Kim's Tiktok
We have a guilty habit of watching the real estate start up scene and trying to figure out all the ways they make money off of consumers. One start up in particular, was offering consumers money in advance (between $500 and $5,000), as long as the homeowner used the brokerage to sell their home at some point. No matter how much we dug into their website, we couldn't figure out the catch, but that all changed when this article came out.
This company is essentially putting a 40 year lien on the customer's home.
For this episode, we asked Real Estate Reporter, Rebecca Liebson at the Tampa Bay Times, to join us in dissecting this company to learn what happens if you take their money, what happens if you sell with someone else, the lack luster response from the National Association of Realtors, and what this looks like with over 29,000 customers still active in this program.
Highlighted in the podcast:
Rebecca's article
The ads and website before and after this article came out
"What did I just do?"
"Shouldn't I feel happier?"
"I just don't feel comfortable in my new home."
These are all comments that we've read or heard time and time again. The reality is that these feelings can be totally normal and there are ways to get yourself out of this homebuyer funk.
Our co host for this special episode is Kimberly Zeidner. Kimberly is an Orlando Florida Realtor with not only years of experience in real estate, but also has a degree in psychology. Kimberly shares with us the reality of homebuyer blues, how to combat them, and things you can do to set yourself for happy homeowner success.
She also shares a few tips on meeting new neighbors, tips to prepare to buy, and why it's ok to fire your real estate agent if you don't feel they are a fit during the process.
Kimberly on Selling Later Search
Kimberly on Instagram
This homeowner was flabbergasted to see their listing was not only LIVE in the MLS (it was supposed to just be a "Coming Soon" home) but also that it was listed $75,000 less than what they agreed to. To make it worse, the next day the home was priced up by $25,000.
Can an agent list your home before you are ready? Can they change the price of the home in the MLS without your consent?
To dive into these issues, we recruited one of our favorite Dallas real estate agents, Steve Lester. Steve shares how not only should that agent have written consent to make any pricing change but also gives advice on how that homeowner should report their agent to the real estate commission.
Steve also shares what questions you should be asking a listing agent before hiring them, how he strategizes a home sale, and how things look different in this changing market.
Can a listing agent refuse to let the buyer use a specific home inspector?
In this epsiode, the buyer was thrilled to have their offer accepted, but when it came time for the home inspection, the listing agent refused to let them use their home inspector because he has "killed 7 deals" for the listing agent.
After many back and forth emails and threats (plus a letter from a lawyer) the buyers were able to use their preferred home inspector.
Can a listing agent do this?
To dissect this story, we enlisted the help of Tradd Bastian. Tradd is a real estate agent in Charleston, South Carolina and has actually experienced a similar situation with a homebuilder. Hear his opinion on what went wrong and what you should know if you get into this scenario. Plus, Tradd and Wendy share their experiences with new builds and what you should know before building a home!
Contact Tradd
A buyer agent was thrilled to tell her single dad client that he won out of 18 offers! But when she asked for the signed contract back the next day, the listing agent suddenly claimed that her clients accepted a cash offer the day before?
The story continues as the listing agent "tries to get out of the deal with the cash buyer broker." Unfortunately, that didn't happen and the single dad lost out on the home. Being curious, the buyer agent looked up the sale a few weeks later and learned that the listing agent ended up being a dual agent on the deal (representing the buy side and sell side). Did the seller actually sign a contract the day before, or was this dad's offer used to get more cash from the cash buyer?
For this episode, we asked veteran Chicago agent, Marc Dumas, to help us out! Hear how he would have handled this situation for his buyer and in his opinion, what might have happened in this scenario. Marc also shares some tips on working with agents and what's going on in the Chicago housing market right now!
Find Marc Dumas
When we came across the story, we found so many red flags that we knew we needed an expert to help dissect this one! Helping us untangle this mess is our favorite straight shooter agent, Steve Frazier from Platinum Realty in Kansas City.
This buyer went to see a property and was connected with an agent via a search site (you can guess which big site it was). This buyer claims the agent refused to place an offer for them unless he had 20% down. While the buyer thought this was weird, he went ahead and cashed out some stocks. When he called the agent back a few days later, ready to go with 20%, the agent told him it was already under contract.
What that agent didn't tell him was that the agent was the buyer under contract on that house.
Do you need 20% down? Should that agent have purchased the home behind his back? What you should do if your agent refused to submit your offer?
Contact Steve With Questions
When this buyer told their agent they wanted to use companies other than the in-house title and in-house insurance company, their agent lost it and went as far as to scare them from changing companies. But, when the buyer caught their agent in a potential lie, everything changed.
Our co-host for today, Matt Ward, chimes in on what went wrong, what was total BS, and what clients should know about in house services and kickbacks. Wendy and Matt go one step further by sharing examples of kickbacks that some companies give out at this very moment when a certain agent gets use to use their "preferred title agent."
Tune in to hear what happened and why you should ALWAYS shop around for services that you pay for.
Matt Ward's Profile
Matt's Offbeat Agent Forum
This podcast is opinion only based on local experience. State laws and regulations may vary per state.
True Tales Of A Home Inspector Part 2
Inspectors and Flippers
Considering buying a flipped home? While not all flipped homes are bad, our home inspector talks about the most common issues that she has seen from poor flipped homes and what you should be looking for when touring them.
She also shares her worst flipped inspections. One in which the basement was filled with carbon dioxide, and the other had an attic insulate with something you would never imagine.
Learn the red flags and prepare yourself before you dive into a flipped home.
Welcome to our three part series with our favorite home inspector!
For part 1, we are diving into the relationship of real estate agents and home inspectors.
While there are great agents out there that will recommend a thorough inspector, there are others that (in our opinion) seem to be more concerned about getting the deal closed. This episode will help you understand why you should always do your own research when an agent gives you a few home inspectors to call.
This juicy episode is packed with lots of crap (literally), and includes stories of how some agents have threatened her, others asked her to remove things from the inspection, and some just plan out claim to sue her for being too detailed in her report.
Part 2 comes out this Friday and focuses on inspectors and home flippers
This homebuyer's contract specifically stated that the curtains are to stay with the home after closing. While they were there at the final walk thru, they were nowhere to be found after the 30-day lease back. Their agent has stopped responding and is now stuck with buying new curtains.
This happened to Lindy last year when she bought her home; even after trusting the seller would return the items, they never did. Learn how to prevent this, who should be held responsible, and how to get attention when your agent stops responding after you close.
This homeowner went with a "friend" agent to sell her home. But things quickly changed when the broker stepped in to run the listing. According to this home seller, not only did they not get to view all the offers, the listing agent cut the showings and offers off after three days once they "got a good deal." That good deal came from a buyer represented by the same the original friend agent they wanted to use (that works for the broker selling the house).
Hear how the deal continued to go south and how the buyers threw the sellers things in the yard three days before closing. Not to mention how the home was then flipped and re-listed 30 days later by the same brokerage....and for a lot more money.
Sometimes we come across a story that just leaves us flabbergasted. This is one of those stories!
We came across a story in which a listing agent was telling their client that they needed to buy new furniture so that the listing photos would stand out. They also told their client they could try to sell the furniture with the house and re-coup the costs.
Apparently this agent has never heard of virtual staging or paying a stager to use their furniture.
Find out why, in our opinion, this is an awful idea and why you should always interview multiple listing agents before signing a contract with one.
This buyer wanted to submit an offer 10k over asking on a property. Their agent said they would, but after the agent found out there was an offer 60K over asking, the agent decided to not submit the offer (but didn't tell the buyer about that decision).
Should the agent have submitted the offer?
Wendy and Lindy discuss this story and share how you can avoid this scenario with your agent. They also discuss the impact of this market on buyer's agents, agent burnout, and the rise of poor communication in the industry.
This story comes from a buyer whose agent asked them to sign a buyers agent agreement. What the agent failed to point out was that this agreement was written so that the buyer would be stuck with that agent for one year!
Hear what Lindy says about the year long contract, how to work around agents that present these long contracts, and tips on what else you should write in your that agreement (if you are asked to sign one).
Do not sign an agreement for a year.
Lindy shares her client's recent experience at an Open House in which an agent tried to poach her client with the idea that she might have "pocket listings" that no one else has. Being the nosy person she is, Wendy pretended to be her client to see if the poacher and a Compass agent, and Caldwell Banker agent did have listings.
Should a consumer have to dig this hard to find homes for sale?
A few years ago, the National Association of Realtors claimed to diminish pocket listings by creating the Clear Cooperation program. However, pocket listings have increased since then, so is it working? Who is benefitting from this program, and what are the long-term implications for consumers if this continues?
Even Opendoor started to promote these types of listings, but there are a few things you should know about, in our opinion, before putting in an offer on their homes.
We all know that one person in the community that not only knows everyone but can also make or break people in certain social circles. It's like high school never ended, even 20 years later!
So, what happens when you are selling your house and that "person" is the buyer's agent? A home seller recently wrote about their experience when a pushy buyer's agent hounded them for information about their home sale instead of contacting the listing agent. Hear what Lindy has to say about the ethical implications of doing this and what you should consider in this situation as a home seller.
Plus, learn what you should and shouldn't have your agent say when you start to receive offers on your home.
This first-time homebuyer shares her family's story of how they pulled their family out of debt and worked for more than a year to prepare to buy a home.
Learn how they navigated using the listing agent as their agent (dual agency) and how their agent ghosted them the minute after the inspection was complete. Spoiler alert, he didn't even show up at the closing table.
For all you cat lovers out there, this buyer also shares how they couldn't find their fourth cat on closing day, thought maybe they packed him in a box, only to find out the cat created a terrible hiding spot in their old home.
Help celebrate this family's accomplishment by sending them a small housewarming gift. :)
Click here for their wishlist
This anonymous story sheds light on a taboo subject in the industry; Dual Agency (when an agent represents the buyer and seller).
This Florida buyer not only was able to tour the house without supervision, but the listing agent became super friendly when the buyers asked them to do dual agency. The agent proceeded to tell the buyer exactly what to offer and even set a 16 hour deadline.
Lindy Chapman weighs in on who won in this offer situation and what a seller should know if their agent offers dual agency.
Enjoy!
Last year, Wendy interviewed real estate agent, Jay Villella. During that conversation, he answered honestly when asked him opinion about the amount of quality agents in the field. Within a week, he was contacted by the association and told to retract or delete his statement. He did not (nor did Wendy) and what happened next encouraged Jay to part ways with the association.
Learn what he said, what happened, and how the industry should look at improving the quality of agents currently in the field (if they finally decide to acknowledge this issue).
If you are in Pittsburgh, Jay also shares some info about the Pittsburgh market, the concept of buyer rebates, and how agent commissions shouldn't be an "average" for everyone.
Does the agent really have "multiple offers?"
Real estate expert, Lindy Chapman, joins us for this episode as we read our anonymous agent story in which an agent tries to lie about "other offers." Too bad it's a small world, and the buyer knew the seller. The buyer finds out that there were no other offers!
Listen in as Lindy shares what you should know and what your agent should be asking to make sure you are offering the right amount and not competing with fake offers.
I love this badass buyer story!
Rachel Gerald spent 20 years in active duty in the marines, while single handedly raising three children. She shares how she bought her first home in 2009 and how she used that experience to time buying and selling a home this year in two different states!
She also talks about her own pathway to financial freedom and how she now spends her time helping others, especially those retiring from active duty.
I like to call her the "unicorn" in the world as buyers as her pathway to buying this time around was pretty smooth. So, for those of you struggling to compete in this market, know that your opportunity can still happen for you!
Learn how Rachel went from $126,000 in debt to being debt free
Contact Rachel
This buyer story has it all. Learn why this family changed agents, stressed about loan issues, and how they landed a home because another agent (allegedly) owed their agent a "favor." to to mention how they got ghosted right after they closed.
Plus they share tips on what type of agent to not use and why mixing business with personal issues can impact your relationships during the process.
Let's talk about the man who hates to see you spend money on expensive coffee, Dave Ramsey!
While you can agree or disagree with his financial advice, one thing we can all agree on is how much money he is raking in by helping you find the "best agent for free!"
Find out how his company is making millions, and in my opinion, the downside to using his ELP platform to find a real estate agent.
This is one of our favorite stories! This buyer took her family from poverty to buying their first home! Learn how they did it, the disappointments they encountered while shopping for a home, the ridiculous underwriter questions she had to deal with, and the pressure she received from her agent to spend more.
This buyer never set foot in their home until after they closed. Learn what it was like to buy a home by only looking at pictures online, how she managed to move with a newborn, and which warranty and security companies gave her a ton of problems since closing.
Whether you are buying, selling, or just nosy, there is a good chance that you spent some time on Zillow.
It's one of the biggest real estate websites in the world, but it's also one of the biggest lead generation companies for real estate agents.
Let's talk about how Zillow makes money, who pays for it all, and how using their "matched agent" can potentially hurt your chance to save money.
This Kansas City buyer recently bought a home in Kansas City that came off the market for structural issues. Learn how they navigated buying home hours away, how they got cheated out of $8,000, and what she wishes she had done differently when finding an agent and using referred service providers.