why is it so hard to find an honest person in the real estate business?

Answer 1

I think it is because of several things, first; most honest and ethical agents dont need to advertise as they keep busy with referrals from past clients. Secondly, when I started out we were taught commission income was a by-product of providing exemplary service. Focus on doing a great job and the commission's start coming, focus on the commissions and the business dries up. Most new agents are not being taught by the old school these days and they emulate a top producer that got there usually by bending many rules. No new agent wants to struggle so anything that makes for more time spent per client is often minimized. A huge percentage of agents these days are in it just for the money. When I started it was a service industry and 6% brokerage wasnt all that much when median house prices were about the same as a nice car is now. The work today is much easier and the prices are astronomically higher yet the same 6% still exists. I think with buyers agency being what it has became over the last decade there needs to be a change. Perhaps sellers should only pay 3% to their agent only, and buyers should pay their agent themselves. That alone will remove a lot of the agents that are in it just for the easy money.

Answer 2

I have read the answers that are already here. I agree with most of what they said.

I just "laid down" my license after 30 years. I have NEVER been to court on a real estate deal, I have never received a commission check by lieing. The past 10 years I went into the appraisal field in order to get out of the real estate wars that realtors create.

It has become worse than I have ever experienced. Yes, we have the Ethics rules that nobody looks at. We used to go by the "Golden Rule" that nobody adheres to. Brokers and realtors seem to adapt the rules to their likings, not as written.

There is extensive insurance (errors & omission) costs that each person pays per deal to cover court costs in case of lawsuits. This has become mandatory in the business and it's no wonder.

I have worked for brokers whose bank accounts haven't been balanced in years. This can be a Federal offense. I left them.

The best advice I can give you is to get a realtor that a friend or relative has worked with before. The referral system is the best and only way to hire a realtor. They have already proven themselves. Listen to the complaints you hear from others, the same as you would listen to them if they complained about doctors, lawyers, etc. What they are telling you is probably true.

Call friends and relatives. If they haven't had an experience with a realtor lately, I'm sure they know somebody who has.

There ARE still honest ones out there....you can find them.

Answer 3

As a Real Estate Agent, what the person above me said is true. There are a lot of agents out there that have only one thing in mind - money. I wish that there were more of us out there that understand what Integrity, Honor and Customer Service is. I find myself having problems with other Agents trying to take my clients because this business is so cut throat. Plus with the housing slump - it's much more competitive than normal.

In Massachusetts, where I live, Real Estate Agents have to become a member of the National Association of Realtors. This association as a strict Code of Ethics that we are supposed to stick to. Unfortunately, the almighty dollar rules and to be honest, this business can be dirty and down right mean.

If you feel that you have been unfairly represented and that your Agent hasn't had your best interest at heart - then you should tell your realtor you feel that way. If you want to escalate that - then you can always file a complaint with the National Association of Realtors or your Realtor's Broker.

I hope that you can find an Agent that you trust!

Good Luck!

Answer 4

Well I am a Mortgage banker and I must admit when I came to the table and someone credit or the deal wasn't profitable. The company told me to through it out. I left that place because of that. Then I couldn't find another job for a while. So I just keep in contact with my two deals. I found a new place. I put a client on a credit program cost $500 but that gain him 21 point on a 581credit score. Which brought his middle score to a 647 got him Refinanced from a 12 interest rate to a 9 lower payments 3000 in saving for that year and charged only 3points. When I know There are have others that would of went 5. The next deal a man wanted to Cash out refi with no points... This wasn't that bad. I got a equity line of credit without changing his 5.36% fixed rate, and still got some off the deal. So maybe some agents as well as some Bankers or Brokers. What ever makes you feel better I don`t lie because people should think there are like a $100k your messing with. I tip my hat to all the good agents and Brokers.

Answer 5

It's very difficult for us to live an honest life. Not only in business do we find that most of them are dishonest but also in other fields a lot of them flourish. The problem lies deep in our civilization. Life is short. Everyone knows it and they try to make use of every opportunity to do something worthwhile. But most of them, like you and me, don't have enough capacity for carrying them out.
Now have a look in school environment. Cheating becomes common. So what? Life is a more vulnerable place.
In summary, if you don't have enough potential, skills, energy to do something, you are prone to cheating. Cheating is dishonesty.
Why? So that they can live on... It's a rule. Life has its rules. We, gamers, have take part in it whether you like the game or not.

Answer 6

Because it involves huge amounts of MONEY?

Answer 7

they are greedy.. they do not have your interests but theirs at heart. they will try to get you to go for a low price just for less work for them.. they need to close deals. You probably are better off marketing it yourself.