Real Estate Agents - Should I Sell to a 'We Buy Ugly Houses' Company?

Author

Should I Sell to a 'We Buy Ugly Houses' Company?

Big fat daddy

2005-07-18, 11:25 pm

Let me tell you a story about a client I had. His mom passed away and had a
home that needed work. He tried to do the work on it but got overwhelmed. He
was an older gentleman so he called We by ugly homes. I think they should
change their names to We Steal Ugly Homes. They offered him $117,000.
I had recently worked with this gentleman and he bought three homes from me
and respected my opinion. He called me and asked me what I thought. I did
a market analysis of the property and that it was worth about $225,000 but
it needed work and he wanted to sell it quickly. I told him he could get
$185,000 after looking at it. He listed the home and I sold it in three
days for $185,000 and he didn't have to do a darn thing to it. Moral of the
story he would of lost $68,000 worth of profit. We screw people who have an
ugly home should be the name . A lot of these people do an assignable
contract and sign it over to a real investor and make a profit with no real
intentions of buying the home just assigning and getting their money that
way.
If you like to give your home away call one of these companies. If you
like to make some money call a Realtor!

queue1

2005-07-26, 12:21 am

Big fat daddy wrote:
> Let me tell you a story about a client I had. His mom passed away and had a
> home that needed work. He tried to do the work on it but got overwhelmed. He
> was an older gentleman so he called We by ugly homes. I think they should
> change their names to We Steal Ugly Homes. They offered him $117,000.
> I had recently worked with this gentleman and he bought three homes from me
> and respected my opinion. He called me and asked me what I thought. I did
> a market analysis of the property and that it was worth about $225,000 but
> it needed work and he wanted to sell it quickly. I told him he could get
> $185,000 after looking at it. He listed the home and I sold it in three
> days for $185,000 and he didn't have to do a darn thing to it. Moral of the
> story he would of lost $68,000 worth of profit. We screw people who have an
> ugly home should be the name . A lot of these people do an assignable
> contract and sign it over to a real investor and make a profit with no real
> intentions of buying the home just assigning and getting their money that
> way.
> If you like to give your home away call one of these companies. If you
> like to make some money call a Realtor!
>
>

I'm certain I could find hundreds of dishonest real estate agents in my
state. All I have to do is look at the state's website listing former
licensed agents who had their licenses revoked for unethical or illegal
activities. But this is certainly not an indictment of the thousands of
other agents who operate their businesses in an ethical and legal way.
By contrast your statement is a perfect example of sensationalism that
newspapers such as the National Enquirer use to sell papers; and shows
an outright disregard for the services that people who buy homes that no
retail buyer wants. By buying homes that have some physical or financial
distress, fixing them and then reselling them (often through real-estate
agents) revitalize and keep the market efficient. Any study of
economics will show this as a valuable service.

Are there dishonest and perhaps greedy rehabbers, real estate agents,
mortgage bankers and brokers, appraisers, etc.? Yes, of course, but why
focus completely on the negative?

Steve Horrillo

2005-07-26, 9:21 am

On 25-Jul-2005, queue1 <queue1@gmail.com> wrote:

>
> I'm certain I could find hundreds of dishonest real estate agents in my
> state. All I have to do is look at the state's website listing former
> licensed agents who had their licenses revoked for unethical or illegal
> activities. But this is certainly not an indictment of the thousands of
> other agents who operate their businesses in an ethical and legal way.
> By contrast your statement is a perfect example of sensationalism that
> newspapers such as the National Enquirer use to sell papers; and shows
> an outright disregard for the services that people who buy homes that no
> retail buyer wants. By buying homes that have some physical or financial
> distress, fixing them and then reselling them (often through real-estate
> agents) revitalize and keep the market efficient. Any study of
> economics will show this as a valuable service.
>
> Are there dishonest and perhaps greedy rehabbers, real estate agents,
> mortgage bankers and brokers, appraisers, etc.? Yes, of course, but why
> focus completely on the negative?

You're making it sound as if the home buyer won't do any rehabbing. Let's be
honest. While they do serve a purpose, still all middlemen are parasitic.
The question is how much of their host do they consume? An investor consumes
20-50% a Realtor only 6%.

--
Warmest regards,

Steve Horrillo, Realtor / C.Ht. =^..^=
http://BrokerAgentTraining.com http://over100percent.com http://HipFSBO.com
http://eLOWn.com

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