Eli Magids

Hey everyone, it’s Eli Magids coming to you from the war room in Charlotte, North Carolina. Today, I’d like to talk a little bit about the warning signs of whether or not real estate agent sucks or doesn’t suck. Now I'm going to preface my comments based on the fact that this is about a situation that I had personally with an agent when I moved down here from New York. And these are the things that really weren’t done properly.

First thing is, when you have a real estate agent and you meet them for the first time and you’re discussing your money, how much money you have, how much money you want to spend, what kind of house you want, first thing they have to do, by real estate commission law, is hand you a brochure that tells you what the responsibilities are of a real estate agent for the customer, for the client. My guy didn’t do that. So, that’s strike number one.

When I came down from New York, I also asked him (because where I came from, all houses are on top of each other) we wanted complete privacy. I said that was the number one thing. When I flew down from New York, came down here and he drove me around, he took me to homes that were on main streets, completely no privacy. I had one and a half year old at that time. I mean, it was just absolutely ridiculous where he was taking me. So, I wasn’t happy with that.

The third thing, and probably the worst, is that he continuously flirted with my wife. Not really that cool. My wife was breastfeeding at that time, very uncomfortable. Now, yeah, I could have and I should have gotten rid of him at that time. I didn’t. It was a referral and I was coming from other state. It was a mistake on my part.

Fourth thing that went wrong was that, when we were looking for houses, (actually my wife found this house online that we wanted to see and it had the privacy we wanted) I wanted a Comparative Market Analysis — meaning, I just wanted to know how much other homes of similar value were going for, you know, same size, that kind of things. It's a comparative so I know whether or not I'm making a good offer, I'm making a low ball offer or making a high offer, I'm getting a good deal or not getting a good deal. That was never done. So, I don’t know why I was using this guy. You know, what was he doing for me?

The other thing that was done incorrectly is that when a real estate agent is showing you a home and there’s a bonus. A lot of times, builders, owners who want to sell their house quickly, who want to get as many people as possible, so they’ll offer a bonus. This guy knew that he was going to get a $10,000 bonus on top of the $30,000 in commission that he was going to make from my purchase of the home and he didn’t disclose that. And I was negotiating back and forth for a freaking washer and dryer. Really not cool.

So, my words of advice is if you feel bad, if you feel uncomfortable, if you find that this is not the right situation, even if you signed an agreement, you can get out of that agreement and find yourself an agent that’s going to take care of you. There are plenty of brokers, plenty of agents. It doesn’t have to be in Charlotte, can be anywhere. It can be in Los Angeles, it can be in New York, it can be in Mexico, it doesn’t matter.

There are plenty of agents that are going to take care of you and you need to find someone that you feel uncomfortable with, who you want to hang out with and who you feel has got your back. I didn’t find that here.

I’ve got several other stories. Just quickly, I was involved in another transaction, actually for my in-laws. Their agent didn’t show up for the inspection. I had to show up for the inspection and make sure everything is going okay. And he didn’t check to see the repairs were done and I had to do that, which wasn’t cool. So he sucked also.

There’s also an agent down here who I’ve never met. He’s in Charlotte. He seems to look at my videos and take my content, you know. So, not really that ethical but, what can you do? Find yourself a good agent, do your due diligence, make sure that they’re cool, make sure that they’re going to do right thing for you. We all hope for the best, right? But, remember when you sign that agreement that they’re going to take care of you, you know, when you first meet them and you’re going to sign a buyer’s agency agreement, you can get out of that.

Thanks for watching. Any questions, comments, complaints, you can reach me at elimagids@elimagids.com. You can see me online at www.elimagids.com. You can find me on Facebook, Twitter, LinkedIn, everywhere you look, you’ll find me.

I am Eli Magids and I am keeping it real. Thanks for watching and I will see you guys soon.