Bait & Switch?

travelstiles · 09-02-2008, 09:08 PM

A close friend recently had a few bad experiences while looking to purchase a home in TV. Have any of you experienced "bait and switch" from any local realtors (not looking for specifics - no names, etc., please just what your experience has been), positive or negative?

graciegirl · 09-02-2008, 09:11 PM

Travel. No.

We only used The Villages rep. In what way "Bait and Switch"? No need to be specific, just so when I rave on, I can warn my friends about general things.

travelstiles · 09-02-2008, 09:15 PM

Example: This house is a great buy - you'd better put a hold on it now! One hour later, you call the agent and OOOPs! Gee, I told you it was a good buy, you missed out - BUT have I got another deal for you (BTW more money, not as nice...)

NJblue · 09-02-2008, 09:31 PM

Well, I think it is possible that these things do happen and it is not bait and switch. In our case, we found a lot that seemed like a remarkably good deal relative to others that we had seen as well as neighboring lots. We put a hold on it and then followed up with a deposit. Later, as we were filling out the contracts with the agent, he mentioned that it was a good thing we acted when we did because 20 minutes after we put a hold on it, someone else tried to buy that property. So, perhaps these unlucky buyers felt like they were the victims of bait and switch, but in reality they were just unlucky in terms of timing.

784caroline · 09-02-2008, 09:39 PM

Hard to tell if that is bait and switch or simply real estate. YOu can tell if the first house was on the market and is now sold....so it must have been a good deal and someone either placed a hold on it (I think these have 72 hour kickers) or it sold. With the 72 hour kicker, just check back and see if they signed a contract on the deal, if not the house will come back on the market. Believe me the agent will want his/her commission so I doubt he/she is kidding about it not being on the market for whatever reason. If there is a kicker clause you can always offer a backup contract if you are serious!

AS far as the second house , well they never look as good as the first and they normally cost more, but you dont have to buy..simply keep looking until something you like and an afford comes your way! If you are uncomforatble with your agent...change agents!

travelstiles · 09-02-2008, 09:43 PM

Which is what I suggested as well - change agents.

784caroline · 09-02-2008, 10:00 PM

Hey we just sold a house up north and it took us 18 months..interviewed a number of selling agents when listing expired and it all comes down to a gut feeling as to who you are comfortable in dealing with. Some agents are real scum bags while the majority I think do their job right. ON the selling side they wnat you to say why the house is not selling...obvious answer price is to high....so then they "suggest" a price reduction..anyone can sell a house at give-a-way prices. I mean how would you like to get an agent trying to sell you a house in Chatam while the price may be right, but you have a train comming through in the evening every hour on the hour.

Your particular situation, I really believe is real estate related...that is how it works in TV.

chelsea24 · 09-03-2008, 04:13 PM

We had a wonderful agent. However, we did have one experience where we looked at a home we were thinking about, went to another home and while looking at that one, our agent received a call. She said the house we were considering was now on hold for a couple that came in behind us. I really don't think she was lying because the previous home was 20K more and I did see a couple go in behind us.

Anyway, our agent went out of her way on two separate visits to find everything I was looking for. We are really pleased.

SteveFromNY · 09-03-2008, 05:16 PM

We had an experience where we were looking and thinking about a few houses we'd seen, and in the space of 1 hr one of the ones we'd seen had sold to someone who came in after us. We found out when we said we wanted to purchase that one. We bought a house up the block - same model, same neighborhood, very close to the same price - an hour later.
This was in May of 2005, when the market was really booming. I think TV was selling 400 homes a month or some incredible number like that.

Sidney Lanier · 09-04-2008, 04:58 PM

We've seen this same thing happen even now in a slower market. We have a friend who refers to this as the 'Moscow rule of shopping.' Buy it when you see it and know it's right, because it might be gone sooner than you anticipate.' IMHO, likely not 'bait and switch,' maybe not in every single instance but certainly in most.

rshoffer · 09-04-2008, 06:38 PM

All of this is why I would recommend any new Villager rent at least 3 months and take their time looking for a home. There is no rush. If a realtor says they need a committment in an hour or the house'll go to someone else WALK AWAY. There are new homes popping up so fast you'll find one at YOUR pace.

SteveFromNY · 09-04-2008, 06:53 PM

Quote:

Originally Posted by rshoffer

All of this is why I would recommend any new Villager rent at least 3 months and take their time looking for a home. There is no rush. If a realtor says they need a committment in an hour or the house'll go to someone else WALK AWAY. There are new homes popping up so fast you'll find one at YOUR pace.

For the record, my realtor never said anything about me making a commitment or it would be gone. He NEVER pressured me at all, and in fact kept asking me if I was sure I wanted to buy a house.
What happened was we looked at a house and by the time we made a decision (an hour or so later) it was sold to someone else. There was no game being played by the realtor.

rshoffer · 09-04-2008, 07:17 PM

Quote:

Originally Posted by SteveFromNY

For the record, my realtor never said anything about me making a commitment or it would be gone. He NEVER pressured me at all, and in fact kept asking me if I was sure I wanted to buy a house.
What happened was we looked at a house and by the time we made a decision (an hour or so later) it was sold to someone else. There was no game being played by the realtor.

betchya found another. BTW, your realtor dropped the ball. If you do fall in love with a home your realtor can call to "put a hold on it". I don't know how long they can hold it but it's more than an hour. Not sure if non-Village realtors can do that. When this will get frantic is when/if this place ever hits "buildout". That will be something to experience. Especially if buildout occurs before the boomer wave passes. Then it'll be a whole different ballgame.

SteveFromNY · 09-04-2008, 08:19 PM

Quote:

Originally Posted by rshoffer

betchya found another. BTW, your realtor dropped the ball. If you do fall in love with a home your realtor can call to "put a hold on it". I don't know how long they can hold it but it's more than an hour. Not sure if non-Village realtors can do that. When this will get frantic is when/if this place ever hits "buildout". That will be something to experience. Especially if buildout occurs before the boomer wave passes. Then it'll be a whole different ballgame.

As I said earlier there was a house right up the block, same model, very similar price. We bought that one.
I really don't think my realtor dropped anything. We were deciding which house out of 2 that we had narrowed it down to. We dragged our feet, and when we did ask him to get us that house, he called, and we found out the people who were walking out of the house as we were walking in had just put it on hold for themselves.
We were dealing with a new house, so it was only shown by TV realtors.
I am not a naive person by any stretch of the imagination, and in fact I am very suspicious of just about everyone and their motives. I grew up "street-wise" in NYC, and frankly would have seen any kind of sneaky treatment a mile away. And I would have split! I find myself suspicious of neighbors who are just too nice! They must be up to something! (but I am learning there are people that nice)
The realtor was REALLY laid back, and I got the distinct impression he was trying to build a long-term relationship with me as a customer, not sell me a house that day. I think most people take a lot more time than I did to analyze and make a decision. And he was not pushing me. He expected me to go away and come back in a year or two, and he was trying to make sure I came back to him.
What happened was simply that the house I wanted was bought by someone else in the intervening time. That simple. No games, no bait & switch. They were selling over 10 house a day back then. They didn't need to resort to any underhanded treatment.

Frangyomory · 09-06-2008, 04:47 PM

Back in 2005 that was a normal scenario. If you didn't put a down payment on a house immediately, you stood a chance to lose it within the hour. We saw it happen to several people who were looking at homes here in Tall Trees. I don't see much of a chance of it happening today so I would definitely be looking for another agent. You probably would do better to use a Village sales represent right now, although that might not always be the right response. Best of luck.

Bait & Switch?

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