By this time the slow real estate market has taken its toll on new and inexperienced real estate agents Heck its take its toll on all real estate agents. The difference between producers and non producers however is huge. Producers have taken a cut in pay as fewer homes sell and buyers are still on the ropes as to whether this is finally the right time to buy. Non producers have made no money and unfortunately if they manage to pick up a buyer, the ensuing process is so tangled with mistakes that often the transaction never closes and a frusterated buyer loses out.
I recently spoke with a buyer who wanted to buy another home then let his current home go back to the lender. He had a family member (new real estate agent) he was using to buy his home. Now first of all this type of transaction is complicated at best, so any agent attempting this really has to know the market and whats available and the type of transaction the buyer is best attempting (foreclosure, short sale, or owner seller).
For this type of buyer a shortsale is the least advantageous route simply because of the unpredicibility and length of time a short sale takes. A foreclosure on the other hand can offer some great opprtunities and of course if you can find an owner seller with a realistically priced home this would be the best to attempt.
Now this new real estate agent showed his clients many homes, each time the buyers found a home they liked and the offer was written. Each time some mistake hampered the transaction and the sale fell through. By this time the buyers were at their wits end and the agent was scratching his head in wonder at how three transactions all fell through.
Do yourself a favor and use a good real estate agent for your transactions. Real estate is complicated enough with out the blind leading the blind.
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