Zip Realty (Ziprealty.com) Sucks

Too bad for your experience. How much under the asking cost were you on your initial offer? If it was an insult, I wouldn't expect any agent to push for it. Bottom line is the agent wants you in the house. For that matter, why would any agent regardless of whether they give you a kickback not want to get the most for a house. This is how all agents get paid.

From the inspection aspect, Zip does not have "big" relations with inspectors. The specific agent is the one with this relationship as well as closing company preferences, lenders, etc. Unfortunately the Real Estate business in general is prone to Agents work with shoddy or suspect inspectors in order to get the deal done with the banks. If you received a faulty inspection, sue the inspection company and report the agent.

My original offer was less than 10% below the asking price which I hear any where between 6%-10% is quite the norm these days. I understand that any agent wants you to buy a house so they get paid but I also think that since you basically hire them to be your agent ("Buyer's agent") that they should work for your interest and not the sellers which I did not get that feeling when working with Zip Realty. The feeling I got is they would do anything in the power to make the house sale go quickly and smoothly as possible with out any issues for them, not necessarily without issues for me.

My realtor gave me a list of three inspectors to use. He recommended the first one on the list because the inspector "had just been to their office and is a great guy" but I chose another one on the list based results of an internet search (and I also found it a little weird for an home inspector to be a real estate office).

My feeling is I would have been better off had I not hired a Buyer's agent. Zip Realty didn't really do anything for me that I couldn't do myself. I thought you used a buyer's agent because they were good at negotiation, good with setting up all the appointments.. but in the end those are the points that really went wrong with the sale. So my question to any one, why even use a buyer's agent? The only reason I can see is during the searching phase. You have the potential to see more houses in less time because the agent should have access to any house on the market. However I don't think that's good enough.

Next time, I am doing the searching myself, calling up the selling agent to set up appointments to see the house, and then repeat for how many houses I'm interested in. Then when we get to negotiating I'm going to point out that I'm saving them by not having my own agent and hopefully can get the price down by what a buyers agent would receive (have I had one) which is usually 2%-3.5%. Then once you get an accepted offer you find a bank, an inspector, am I missing something?

Some agents at Zip Realty are just plain lazy and rude. I've had very bad experience with them recently a, dn I do not recommand ZipRealty. You are better off with some other company other than Zip Realty. Terrible terrible reator.

You said it yourself; they are going to try get you the highest purchase price because they have to make their money some how. This includes agents on both sides.

The seller's agent is going to be even less inclined to give you a good deal as are likely in your cost cutting technique to be directly cutting their commission as well. No to mention you now have them letting you into the house, therefore possibly introducing some double duty.

As you are going into the transaction looking to cut the base price, you need to know the seller agent will most likely not cut their commission at an proportionate amount. Say they would make 3% or 9,000 on a house at 300,000. You cut say that same 9,000 on the buyers side to reduce your offer to 291,000. They are still going to be looking to recoup that 900 built in to the base price. Factoring in also the buyers commission comes out of the purchase price, the sellers might be reluctant to reduce the full price and give you any additional closing costs you might be desiring.

Are you an agent, tbone?

Are you saying the sellers agent would rather a buyer who has their own buyers agent?

And are you saying the agent will be afraid of letting of me in the house if I don't have an agent? I expect the agent would want to be there to let me see the place but I didn't think they would be afraid to show it to me without a buyers agent.

I think I'm missing the logic here.

If I were to forgo a buyers agent who would usually get $9,000 commission I would be happy with just getting $5,000 off my purchase and giving an extra $1000 to the sellers agent for showing me around the place. That way I still save, the sellers agent gets more, and the seller doesn't lose any money. Basically I want to split the buyers commission between me, the seller, and the sellers agent because I don't think they are needed in a sale.

No I am not an agent, but I have dealt with enough Realtors on the buyer side to know how I can benefit from their services. For instance if you are looking at one house your plan would probably work, but try that on a Saturday when you want to see 10.

If you want to truly take it on, why not cut out the Seller side as well and only look for a FSBO?

Remember, fault on the sales price could also rest with the sellers agent not presenting the situation clearly, or the fact that you still are dealing with an emotional transaction with a seller who might refuse to understand that homes are going 5-10% below the asking price. Again, I'm not counting out Zip as any other realty company could have its fair share of bad agents. I just don't completely blame the company when you made the decision to go with them to save money in the first place.

You could have had the same experience with a full price agency.

You're right I could have had the same problem with other places. However, I also think that people will find my experience with Zip Realty helpful so that is why I posted it. They can read it and take it for its worth to them. If Zip is like the rest of the agents then that is all the more reason not use a buyer’s agent because I don't think they made a satisfactory effort with me. I chose Zip Realty because I liked their online interface and their method that you get to choose what houses to see, not to save money. I find it unfortunate that they really didn't put my interest first, and at some points were deceptive, and that is the point I want to make, end of story. Going for a FSBO is completely different league, I think, and contains a lot of uncertainties that I wouldn't be interested in.

I didnt know a seller would be able to get the buyers agents commission if they did not have one. I have been buying houses with only one agent for years and never got the missing agents commission. Wow!

It is not going to help all you the time. It's just something you can use in your favor during price negotiations. I haven't tried it myself yet, however. I have read about people who successfully have gotten their price down.

Zip is zipping out of business. Look at the stock price. It won't be long till they are put out of their misery.

I'm not so sure they are going any where soon. With the housing market in turmoil you can't expect pretty earnings however I think they have enough to stay in it. They just announced at the end of Dec 2008 they are expanding into Oregon.

If anyone thinks it is a piece of cake being a Realtor, they should get a license and learn the business. The commission is an agreed amount to be paid by the seller to the listing Broker, not the agent. The listing Broker makes the determination as to how much is offered to the selling broker. It is against the law to pay a commission to someone who is not licensed in our state. And any agent worth their salt will have a "buyer" qualified by a lender first and have them sign a Buyer Broker Agreement before they ever show them a home.

I don't think being a realtor is an easy job at all. The uncertain income and today's economy makes it real hard to make a comfortable living.

If it's against the law to pay a commission to a some who is not licensed how does Zip Realty pay out a rebate at close to the buyer/seller who hired them? This is the same thing I'm asking for from the sellers agent... a percent off the purchase price... I don't care if it's the seller who lowers the price or their agent who reimburses me.

When I bought my first and only home I was prequalified before I even started looking for a house or agent. I think it's a waste of everyone's time to not do so but that has nothing to do with this does it?

Hi TJ, being in the business myself both in new homes and general, I can tell you that it all truely depends on the individual agent. Usually if there is an office that is just as bad as some of its worst agents, then they're probably not a well known name as in this business, we survive greatly in part to referral business. I would say to anyone buying a home that it would be a benefit to have someone represent you in the process. Just do your part and do some research into the office and the agent before you make your selection. You will find that people who have had a great experiance with an agent will be glad to share that persons name and there experience with that agent or office with you.

TJ,
The amount you save (if you save it, which is doubtful) is not worth the trade of not having a buyer's agent. I've bought a lotta houses in my day, and still wouldn't buy a house without a buyer's agent who knows the area. And PS, no seller's agent is going to run out and show you the house at your convenience (they'll rely on buyer's agents to show the house - except for open houses, of course), if you look at enough houses to make a good decision, it will take you months to get those appointments together. It just ain't worth it. That being said, a bad buyer's agent isn't worth a dime - the issue is to get a good buyer's agent - they're invaluable.

Yeah I guess I was just expecting too much of the agent. What I learned you should really only use the agent for the home searching phase and you can't really depend on them for support or for other parts of the home buying process. You can't expect them to get you the best deal on a house or recommend a good inspector because it's not in their interest. So if I needed to find a house quick and don't know the area I'm purchasing well then maybe I'll need to use one.

1. How about reading the rebate details? You get 20% of what the broker gets, and the broker gets between 2.5% and 3% in this market - not YOU! I'd rather have $1000 bucks back than a basket of chocolate and bad wine!

2. The difference in the money they get would be so small, so you'd have to say that for any agent. All agents work on commission, so I guess all agents will have poor negotiation skills to make more money for themselves? The only problem with Zip is that they're employees, so you can't get rid of incredibly stupid buyers like you.

3. You don't have to use anyone's inspectors, not a Century 21 agent's inspectors, Prudential, it's the same thing you idiot! Why wouldn't an inspector recommended by any brokerage give a fair report if they're afraid of losing business? Get off your butt and make your own calls then!

There are sucky agents everywhere, some of the worst I worked with were Coldwell Banker and RE/MAX. I was with Zip for two years but I got to the point where I couldn't take one more phone call to explain things to new know-it-all buyers. My broker used to give me the 'difficult' buyers because I was strong. And that strength carries into negotiation, if you take time to really know the business. I now work with investors where I belong. ;)

Every agent is different, so call several!

RE: CL

I am not sure where you are misunderstanding my post. So uh.. how about reading this page before going on a pointless tirade? I appreciate comments from anybody but when you speak so arrogantly and don't read the WHOLE post before you respond it makes your post less credible.

I said I was upset because Zip Realty list the broker as getting anywhere between 2.5% -3% but in reality (at least in my case) they only got 2%. Because they only got 2% and I get 20% of the agents commission that made the "estimated rebate" listed on the site completely overinflated since they use 2.5% as a low mark.

In fact everything in your post was brought up before so I there no reason to respond to your points. My post was to inform people of my experience with Zip Realty. I am not saying everyone will have the same experience. In fact I would love to hear people who have good experiences with Zip but I have not heard any yet.

Maybe if you weren't so dumb and could spell properly you'd get a better agent.

RE: Candy

Oh man you called me dumb!! Man that really hit home . Is that really the best comments you can leave? Why even waste your time, internet tough girl?

TJ did you buy an reo or resale? often the bank owned homes wont come down very much, while it is a "buyers market" the banks sit on the homes and generally wont drop much. Also the banks change the commission structure in the counter with the addendum very often, what starts as a 3% buyer broker commission may be lowered with a counter and the broker has to suck up the lesser amount in order to put the clients best interests first. Yes there are Agents who don't put their clients interest first just as their are crooked cops and lawyers and rotten priests and there are clients who use agents time and knowledge and then use there own agents.
Most agents, Zips and otherwise are just trying to make a living in a business they love that deals with people of all different types. And yes I am a Realtor.Every state is different in the licensing requirements also.Good luck in the future with your purchase. Also dont forget, the sellers agent has a fiduciary duty to the seller not to the buyer.So be careful if you go on your own.

"Yeah I now I realize I was expecting too much from my agent. What I learned you should really only use the agent for the home searching phase and you can't really depend on them for support or for other parts of the home buying process. You can't expect them to get you the best deal on a house or recommend a good inspector because it's not in their interest. So if I needed to find a house quick and don't know the area I'm purchasing well then maybe I'll need to use one."

Again it depends what state you are in. California and Arizona have very stringent licensing requirements where as Illinois and Wisconsin do not have as much.

We are using Zip in Texas and have nothing but good to say about our Zip agent. He has even offered to come and help paint just to get the house on the market quicker. He is helping plan every detail of our sale , building and moving process. I have dealt with realtors numerous times throughout my life and yes there has been some shady ones and there are ones that bend over backwards to help. to sum it all up do your research on facts and not opinions. The internet is both dangerous and advantagous. It all depends on what you read and how you use it.

Glad to hear you had a good experience with your Zip agent. As you stated and has been stated many times in this thread there are the good agents and the bad agents and lucky for you it looks like you found a great one, so congrats on that! My biggest concern with Zip is it is big a company that has formed connections with a lot bankers, inspectors, and lawyers to make the transaction go smooth as possible. This may not in the best interest of you, however, as it gives them the ability to cut corners. But again, you take this risk hiring any agent and it's best to hire these other people yourself under any circumstance when buying and selling, and not to use any of the gent's recommendations. I just think because Zip Realty is so big the risk is greater. Are you using the same agent for buying and selling your home?

I however strongly disagree with you that you should only be looking at "facts" when doing research. Where are you getting your facts? From the person selling the service/product? Since corporations spend millions of dollars on advertising each year to make their products look great it might be a bad idea to look at only the facts. They will tell you all the facts you want to hear to sell their product but not the stuff you don't want to hear. For this you need opinions either from published reviewers, friends or family, or ordinary Joe's.

I purchase everything online from electronics to clothes to groceries and I have saved myself from purchasing many of bad items by simply searching the internet before making big purchases. Some of the product looked great from reading the "facts" but once you find people who have first hand experience with the product you hear the horror stories. It's easy as typing into Google the company name, brand name, or product into google and adding the words "Sucks" or "review" to see what comes up. The more reviews you find the better. I'm not the only one who searches for reviews online before using a service though. This is the popular keywords people use to find this post:

• zip realty sucks 135
  
• ziprealty review 24
  
• ziprealty sucks 21
  
• zip realty reviews 20
  
• zip realty review 18
  
• review zip realty 7

Yes, you are missing a lot. Agents build up relationships with other agents. No we do not go for the higher price, we go for the best deal for the client. Being an agent is a lot more harder than looking for listings and showing homes. That is what amatures like you do. We do extensive research and get updated on information about our trade. We do training and classes to be a resource and consultant to our clients. We are Realtors.

RE: Don Jordan

How are you able to speak for all agents? I mean how is it possible for you to know the intentions of all other agents? It's not and I find that only a amateur would post something like that.

Instead of just stating that I'm missing a lot, tell me what I am missing, because I don't think your convincing anybody (definitely not me) yet with those incoherent statements you made.

I am sorry TJ, no matter what I say or do will change your mind. I do not speak for any other agents except the ones that work hard everyday to make a difference and to serve our clients to the best of our ability. Zip is not a large corporation. We have been in business since 1999 and grow by striving to provide superior service, great web site, and our great reputation. You site 215 unhappy clients out of the thousands of transactions we do every month. We are not even in every state yet, but doing more transaction than a lot of other well known companies. Zip is the fastest growing real estate firm in the nation right now, because of service. We are not perfect, but every day we work hard for our clients.

I really wish I had found this blog before I listed our home with Zip Realty in FL. We did our homework for months and then interviewed 3 real estate companies. After about 5 weeks on the market, I find the listing agent to be difficult to work with - doesn't let me finish my point before interrupting, becomes argumentative on every issue, has not responded to requests for proof of marketing efforts other than the website/photo tour. The bottom line is consistently that we lower the price, which, as suggested is 10% lower than asking price. BUT, there is no consideration or exposure (in the ad on-line) that the asking price is now 10% below the formal appraisal last year! This is our 3rd home on the market, so, we are not new to this. There seems to be reliance on the MLS listing alone - and there is no assurance as to how extensive that really is, because an MLS can be built in various categories but may be limited. In any event, I could apply my recruiting (work) techniques and find buyers with better success. With obvious challenges in today's economy, it takes lots of work and ingenuity to get sold!

Every seller thinks their home is special. An appraisal from last year is very much out of date in this declining market. Like any marketable product, it is only worth what someone will pay for it. If you want to sell, you have to be competitive with the local market, which is demonstrated from the reports of the local MLS. To think that most buyers will pay for your upgrades is not realistic. When selling, you have to think like a buyer and price according ling. If you don't want to list realistically, wait for the market to improve.

The fact is, the internet is is a great place for information; and lies and disinformation at the same time.
Most sites merely give breath to someones dissatisfaction unless there is an open forum like this for all sides to air their views. To claim that a some comments (good or bad) truly represent a company is shallow and shortsighted, when the number of transactions number in the hundreds or thousands every month. TJ didn't get what he expected..gosh too bad, the whole diatribe is based on the fact that he(?) thinks the agent didn't get his price low enough. maybe his expectations weren't realistic.

"In any event, I could apply my recruiting (work) techniques and find buyers with better success. With obvious challenges in today's economy, it takes lots of work and ingenuity to get sold!" then you should have tried to sell it For Sale By Owner and saved saved the commission." Again, think like a buyer..are you going to pay what the seller wants or what you think the home is worth compared with whats down the block. 95% of buyers are on the internet. Zips website is the best (better than Realtor.com because it is more real time) out there. That make it the best marketing tool for home in that area.
As I said it is an open forum which includes people who are actually professionals and and deal with this market and not just disgruntled buyers and sellers that think they know better. Just Sayin. And no, I am not a big ZIP fan as a company, but the Agents, bankers and inspectors are partners because of their knowledge,abilities and expertise and not because of any sinister payback scenario.

RE: Zed

I really am starting to think you are trying to fill this thread up with garbage so people have trouble comprehending stuff that actually pertains to the discussion. Some of the stuff is good but other stuff is no related to the discussion and just a bunch of words that doesn't really get a point across. Do you read the thread before making a reply?

It's really confusing when your replies have nothing to do with what's posted in the thread so far. I also mentioned several reasons I was dissatisfied with Zip Realty not just one. I am considering deleting these post or trimming them. For starters I deleted the search terms you reposted from the beginning of the thread as you didn't even explain why you posted those

Do you post a lot of this pro-realtor stuff in other websites too? Are you paid to do it? Or you just trying to protect your career? Just curious of your ambitions.

Also there are plenty of better website's for real estate searching then Zip Realty. Zip's website is okay but you really only should use their website if your going to use them as a realtor as their open forum could be bias since it is realtors trying to sell houses. Here's an article Top 10 Real Estate Search Tools with links.

TJ, yes I have read the entire thread.It is your thread and you have the right to edit or delete anything you deem fit.

I will quote items I am addressing so they don't seem to be a stream of consciousness blathering. I know it does seem like that some times.Sorry.

"Do you post a lot of this pro-realtor stuff in other websites too? Are you paid to do it? Or you just trying to protect your career? Just curious of your ambitions."

No I don't post on other sites and am not paid.This one came up when I punched in "Ziprealtysucks" I saw some items on an open forum that i wanted to address.

I have no ambition other than to try and give good and balanced info(oops starting to sound like FOX news there). having bought and sold app 20 homes and condos in my life personally and worked as a Realtor on the buyer side mostly, I believe I have a better insight to the R E market, than just your avg buyer or seller.

I don't like Zips business model for the agents, however it is a free country and they can get used and abused for the leads they receive as long as the think its worthwhile.

TJ, bottom line, people have to understand that real estate is one of the most Economics based exchanges there is. The product is only worth what others think its worth, and that changes by the week. It also is affected by what the banks are willing to lend.
Buyers think they are getting screwed with the multiple offer environment that drives up prices and that the Realtors are not protecting them, and sellers think their homes are worth what they paid for them 1 or 2 years ago years ago and the Realtors just want a quick profit.

Where most Agents are looking for win-win, most buyers and sellers act like they are ok with compromise but blame the agent for not working hard enough.

The main thing Agents are responsible for is get a buyer into a home that is for sale and protecting the Fiduciary interest of their client.

Many times, when the transaction goes smoothly nobody considers the many hours of training the Agent and Broker go through for their licenses to make that happen.
Thats what keeps the sale smooth.

Again, the only reason I ended up here was your site title.

In some ways I agree, but to smear an entire group of professionals because you felt wronged without any proof was something I wanted to show another side to.

I thank you for your forum.

Hey Zipseller,

Couple of honest questions...and for the record, I do not work for Zip Realty and I am not defending them in any regard. The exposure you are getting from Zip, if your home is listed on the local MLS, is as much exposure you would get regardless of the company. But you don't want to hear that.

Open Houses <1% of home sales result from Opens.
Print Advertising <3% of home sales result from print ads.
Internet ~80% of all buyers start on the internet.

Where do you want your home listed?

Also, what else should the agent be doing to get your property sold that he/she is not doing?

Have you ever been compelled by anyone to purchase the property you have purchased in the past?

Have you ever purchased a home from advertising materials?

Have you ever had a Realtor® knock on your door to let you know that a property is for sale in a particular neighborhood which made you runout to see it or tell all your friends about?

Do you really care that Jane Realtor just sold 123 DownTheStreet for $20,000 than your's is listed for?

Oh, but yours has all these upgrades...right? it's worth $20k more than the other property.

(whispering....) It's your price. i know you don't want to hear that but that is very liekly the problem. You are dirven by the net sheet and that is why you chose ZipRealty.

You see, my point is this. This is a much different market than many people have ever experienced. Sellers always think that there homes can be sold by an agent. I have never sold a home. It's true I point out all of the features and benefits to the prospective buyer but it is they that make the ultimate decision. There is nothing I can or ought to do to try and compel them to buy. Would you want me to do that to you?

I can tell you this. In this market, it is all about price. But you see, sellers don't want to hear that. They think we can wave a wand and make a buyer buy your house because it is your house and why, isn't that what you are paying for?

Price, Price, Price. If your home is in a good neighborhood and in good condition and you aren't getting activity (or you are getting activity but no offers), then it is your PRICE!!! What else could it be? That is all it could be.

It is not the agent...while, it's true, there are agents who know how to make your home present better and make recommendations to you to help, they are better and more experienced in managing the list price and convincing you to lower it. They continue to lower it until the property sells.

The agent in your area with the most transactions isn't necessarily the best agent, he or she simply has the most listings because it is perceived that he/she is the best.

The are the best...the best at controlling the sellers.

Lower your price, sell your property, and stop blaming the agent who is giving you 95+% of the same service Rhonda Realtor would be giving you. He just doesn't know how to get you to lower your price.

Sorry for all the typos...i didn't proof it before submitting.

RE: 94Nole

So Nole, after all that are you just saying all realtors suck and people should learn to deal with it?

TJ,

I'd appreciate you not putting negative words in my mouth.

If you go to the beginning of the thread, it is you who is the negative one throughout.

Buyer's Remourse occurs when one goes through a process for which he pays for only to have the "Aha!, I could have done this myself and saved myself lots of money" but didn't have the guts, work ethic, knowledge to figure that out beforehand. Hindsight as they say is crystal clear. Did you know that most legal documents are pretty standard? You can do those yourself too. Do you know people of significant means who draft their own trusts, wills, etc.? You can download wills from most county websites...change the names, record the document and you are done. Right? Heck, WebMD will help you diagnose most ailments...do you ever go to a doctor? Why? You can do it yourself can't you?

I am sorry that you had a bad experience purchasing real estate. Although real estate agents do often certainly reflect the attitudes of the brokerage, you should do not judge a company by a single person. Question, are you indicative of your employer or your company if you are self-employed? May I judge that you work for or operate a negative company based on your posts here?

Now, to answer your question...

No, not all realtors suck (to use your ever uplifting language). Many of us go to great lengths to go well beyond the call of duty. However, when a seller has a property overpriced for a given market condition (be it location or condition or otherwise), NOTHING an agent is going to do will sell the property short of buying and overpaying for the house themselves.

In fact, I will not take such a listing unless I enter into a pre-agreed price reduction strategy (the price is reduced by 2.5% every two weeks until we reach $XXX or we go under contract.)

You seem to have all the answers...what do YOU think real estate agents should do to sell property?

RE: 94NOLE

I really had trouble understanding your points you were making and that is why I asked that question. Note that I never suggested you should not use a selling agent in any of my post. I never sold a house so never had the experience going through that. I think a selling agent may be useful because it adds your listing into the MLS and they also meet with prospective buyers and show them the house. What I had trouble finding useful was a buyers agent. I thought a buyers agent would benefit me by getting the best deal on a house and help make the most important decisions with the buying process. I was wrong in that agent was really only interested in selling a house and provided barely any help along the way except for showing houses. The fact that "There are good agents and bad agents" must be posted about 5 times in this thread and I well aware of that. The trouble is spotting them. You can't just hire an agent and expect them to create synergies you really have to do your own research and be on top of your game when buying or selling real estate. I provide my experience so people can read and hopefully learn not to make the same mistakes I did.

Comparing doctors and lawyers to real estate agents is a very bad analogy. In some states you can become a licensed real estate agent in 1 semester at a community college. It takes generally more than 7 years of college to become a licensed lawyer or doctor.

TJ,

I was not comparing realtors with Drs and attorneys...I was comparing do it yourself with a paid service after the fact and buyer's remorse. Believe me, there is no barrier to entry into the real estate business and 14 hours of continuing education every two years is a joke. As a CPA, I have a minimum of 80 hours every two years to keep my license active.

A buyer's agent, if doing his/her job, would, in fact, do all the things you mention. It's obvious you got a slug and it's unfortunate...mostly for you as the customer...but for us too because it reflects on the rest of us.

In FL, most agents work as a transaction broker. What that means is that I won't tell the buyer anything that will be to the detriment of the seller or vice versa. if I knew the seller would take $50k less, I couldn't tell you. Now, single agency, is a different story but I can only be the single agent for one of the parties. FL outlawed dual agency some time ago.

It's true that with the online tools (some are good and some are not so good) that buyers can do alot of the shopping themselves. The need for an agent is to gain access to the properties and then in the contract and contract to close process.

Anyway, I am sorry that you had a bad experience. Use that knowledge next time...not to be unreasonable but to be educated and informed as to what an agent should do for you regardless of which side you are on.

Good luck.

RE: 94NOLE

To more specifically answer your question in your first post:
"do you ever go to a doctor? Why? You can do it yourself can't you?"

I go to a doctor because they have 7 years college experience and additional years in practice where as a realtor may have only 1 semester of college and additional experience.

With a little research on the internet you can learn everything a realtor was taught through their training. If you decide to skip on hiring an agent when you sell/buy you won't have to worry about the inept Realtor and would probably end up saving money in the long run.

We had a similar experience. The Realtor was totally in it for himself and prided himself on behaving more like a "friend" than a business partner. As a result, we lost out on the professionalism that we deserved with such a large transaction. When confronted with the idea of official negative feedback, he asked that we not so it because it would "impact him financially."

Never again.

Oh, and a week after we closed on our house, Zip deleted our online .account access

"When a wise man and a fool begin to argue, it's not long before you cann't tell which is which."

Hello Moh? Are you there ? Are you with us? Posting in the wrong thread or something?

It almost sounds like some inspirational quote, except the quote contains too many grammar errors and doesn't make sense.

TJ- bless your sweet heart! I worked at Ziprealty for 6 years. I can assure you that I speak for every REALTOR in America...PLEASE, don't use an agent on your next purchase. We have better things to do with our time than deal with idiots like yourself!

RE: Funnyexzipster

Yeah you're real funny!!! Instead of trying to be offensive why didn't you list some reasons to use a realtor? Is it because there are none? Why are so many people EX-"Zipsters"? Usually a company which has high turnover means there is something wrong with the company. Maybe if you can answer these questions your comments would actually be helpful instead of pointless. I'm giving realtor's (and/or Zip Realty) a chance to tell us (me and the other thousands who read this post already) why we should use a Realtor for our next PURCHASE. I haven't been convinced as of yet.

TJ, I guess the bottom line is, it is your choice to use a realtor in your next real estate transaction. If you are not convinced of the value of a realtor, don't use one. There are good realtors and there are bad realtors - that has been established. If an organization or a representative of an organization treated you unfairly or unprofessionally, you would simply find another organization or individual for future use. The same approach may be appropriate in this case. Don’t label all realtors because you and others have had bad experiences. Learn from your experiences with your previous realtor and move on.

RE: Kidd04

I haven't labeled all realtors, hence the title of this post is "Zip Realty Sucks" and not "All Realtors Suck". I learned from my experience though and will not use any realtor during my next purchase unless there is any reasons too. Instead of just saying "There are good realtors and there are bad realtors" like everybody else could someone give me examples of what I should expect from a good Realtor? Is there anything???

Actually you bring up a lot of valid points in these posts.First it is very unfortunate your experience. As stated previously there are good and bad in all professions.I have run into good and bad agents in all brokerages. Working in the medical field for many years prior to going into real estate I can tell you first hand just because an M.D. is behind someones name does not make them a competent doctor. There have been a lot of coverups. Another blog. In re: to Realtors value.......a realtor working out of integrity would do everything they could to assist you getting the best terms for your home. A realtor working out of integrity would ensure you had the best in inspections......I provide a list as a courtesy....It is the buyers choice as to whom they use and they can use recommendations from friends or family if they feel there is a conflict of interest......I do not receive any kickbacks or favors from inspectors.....Our liability is high and shabby inspections is NOT what an ethical realtor would suggest or encourage. In particular for a seller to provide shabby inspections would leave seller wide open to lawsuit and/or damages. To a buyer to encourage such would be equally disastrous. A seasoned Realtor would provide up to date market data not only on value but trends in the particular neighborhood you are purchasing for the Buyer(Consumer to make an educated decision on purchase offer) I personally never tell my Buyers what to offer....I will advise them of the current market conditions, competition as well as the strength of their loan and how they might want to write up the offer ....I play devils advocate with my buyers.....I make sure their final decision is one they can live comfortably with whether or not their offer is accepted. A competent Realtor would never suggest to write up an offer without protection clauses or contingencies (UNLESS that buyer is a seasoned investor or contractor who KNOWS exactly what they are getting into) A seasoned Realtor will then navigate the buyer thru the various disclosures, assist in setting up appts, ensure the proper documentation is received at the title company, coordinate with the listing agent, stay on top of the loan officer if loan involved to ensure appraisal has been ordered ,performed, in review and to ensure there are no snags within the contingency period allowed in the contract in the event I have to pull my client out of escrow and out of contractand/or extend the contingency period in order to complete inspections etc. A seasoned Realtor is with their client throughout the entire process , communicating on a consistent basis. A seasoned agent will review the final HUD 1 statement and make sure their client is comfortable with the figures and there are no mistakes(sometimes happens you are dealing with humans)A seasoned Realtor knows their future business is by referrals. Those agents in any brokerage that offers you less is in real estate for the short term , hoping they can make some fast money.....FYI, the average realtor commission across the country is between $25000 and $65000 a year.....Yes there are those top producers who make much more but comprise about 10 % of the pot... Out of the commission comes the brokerage split, E & O Insurance, office fees, fed and state taxes, self employment tax, gas, car fees & expenses(One must have a well maintained vehicle)Adequate car insurance, MLS fees, (YES it costs anywhere from $1000-$2000 a yr to maintain MLS board and access fees) fees to maintain internet websites, advertising costs, (open house ads, fliers etc). What I found is a misconception of how much money a Realtor actually brings home. A Realtor is an independent contractor, never knowing from one month to the next of how much money will come in to pay their bills so a competent, ethical Realtor will provide the upmost support and service to their clients as a seasoned and competent Realtor knows that future business does come from past and current clients. It is about service. You know what, there are consumers who are competent, have a lot of free time who may not need the full service of a Realtor I respect that. I seek as well as other seasoned Realtors to seek for and serve those clients who have a need for the services we provide. I am sure if your boss came up to you today and said you know what " I don't think you are worth paying a full 8 hr day today, but you still need to be here for 8 hrs and in fact, I need you to work for free the next week." you would take great exception.
As in any industry, service comes with a price.....Seeking the lowest price for services may not bode well in terms of return on your value. Neither seeking the higher. Seek the experience of a Realtor are they full time, part time? Speak up front exactly what you expect from their services and see if it matches your demand. A Realtor who offers to list your home higher than the market to get your listing is not working in your best interest. As stated earlier on market value does determine the price one will get for a home.
You cannot compare apples with oranges......There is a distinct difference in painting a kitchen vs UPGRADING a kitchen and those values have to be considered. Having stated the above I hear your frustration. Those questionable realtors or agents are a thorn in my side. I will say that this past year the agents on the other side of transaction I have done for the most part have been the greatest to work with in re: to Professionalism, Knowledge and accountability. It is not about the brokerage involved it is about the Realtor...IT IS A CLUE to Brokerages to hone up their hiring practices though..You could use the same brokerage again and get fantastic service....Again I use the word SERVICE......that is the key to success in sales transaction , real estate or not...

No one mentioned anything about market value...Several people a certain percentage off the asking price. Um, if the asking price is below market value, one should expect the property to receive multiple offers and the final price being driven up above market value. Even in a down market like here, Las Vegas. It is currently very common on REOs for the bank to list a property significantly below market value and receive 20+ offers in less than a week. Anyone not taking the advice of his/her agent (since any real estate agent should know what's going on in his/her local market)in that situation will always somehow feel wronged and how his/her agent somehow lost all these houses and didn't get the best deal, etc. TJ, this is what you stated you may have done from your very first post.

You complain that the rebate wasn't between 2.5-3%, when everything on their website has always stated that the 20% rebate is 20% of whatever the brokerage is paid from the listing brokerage. This is obviously something you chose not to read while doing your research into choosing an agent/brokerage to work with. The agent you worked with should have explained that to you, which if the agent didn't then shame on him, but the fact is you still chose not read or comprehend the information on the website. A big eye opener should have been the part that says "estimate."

Regarding inspectors, lenders, etc. that's always up to you no matter what state you are in. Your agent gave you a list of 3 inspectors and recommended one above the other two. You hired one of the others. It is very normal for inspectors, lenders, title, and escrow companies to all go to real estate offices. Typically during sales meetings, where they provide industry information. In most states it is illegal for a kickback of any sort to be provided to a real estate agent/broker for using or referring business to companies/individuals in those industries.

You stated you received a "faulty inspection," yet never state how your inspection was faulty. What occured during or after your transaction that made you feel the home inspector you hired did not do his job? Did you file for litigation or seek recuperation of damages from the inspector?

More than once through your thread you have made comments about individual's grammar, when comparatively your grammar is just as bad or worse. Also, you have said you couldn't understand what someone's point was or stating that what they typed was irrelevant to the topic. Many times, things were explained very simply and straight forward and very relevant to various points that you brought up (however, many of those various topics you brought up, YOU were very vague and chose not to elaborate, just like the initial post, there is little information and fact in it).
Please do not use a Realtor on your next purchase, but then also please do not think that the listing agent is going to handle your paperwork, your escrow, your loan process for you and make sure that you don't miss any of the deadlines that could potentially cost you hundreds to thousands of dollars.

However, I do not personally like ziprealty, but that's more because of how they treat their agents...I mean um..employees. In the Las Vegas office at least, it is not uncommon for agents to be working 80+ hours per week. And not one agent, when I worked there, made more than $85,000 a year, most made $35,000-$40,000.

Not all real estate agents and REALTORS(R) are as uneducated as you make them out to be, which is true of all professionals. Many have bachelors degrees in various business specializations, some have four year degrees in real estate, a few even have both. It's also not uncommon for a true real estate professional to also have an MBA.
And there is a difference between a REALTOR(R) and a real estate agent. A member of the Association of REALTORS(R) is held to a higher level of ethics and professionalism than a real estate agent. At least that is how it use to be, and appears the National Association of REALTORS(R) is attempting to bring themselves back to (although I believe they still have a long way to go).

None of these complaints towards Zip "hold water". Facts: Zip trains more than any other brokerage. Negotiating is subjective, sensitive, and specific to each agent. Zip doesn't have preferred inspectors, your agent used his/her referral.

RE: BO

It would have been nice if you actually addressed the complaints specifically, instead you posted the usual pointless rambling by an ignorant real estate agent.
Who cares that they train more than any other? Quantity does not equal quality.

What does your last sentence even mean? It almost implies you are admitting Zip get's referral fees from an inspector .. which is a very bad thing.

Zip Suck: You cant even spell....LOL

{{Comment Removed due to lack of content}}

Please stay on subject. If you think I'm wrong tell me why.

I agree! My husband and I contacted not one but two separate agents off of ZIPrealty.com Chicago. Not only did they not return calls, but made promises to show us homes...only later not call back to confirm. Our first attempt, the agent promised to show us homes on a weekend. When we called to confirm on Friday where we were to meet up with him, he did proceeded to ask us if we wanted to look with him, even though he is no longer with ZIPRealty, but now with another big name real estate company. So all week long he knew he was going to switch to the other company but didnt tell us?! So thats week one gone.

We then contacted the area's top ZIPrealty seller. But that too was a let down.We had already rearranged our whole weekend to look at these homes, and thats really hard with kids! Later that week, he said that he could not get us into the homes, so that is why he did not call back! Really? Ever heard of courtesy call??

ZIPRealty has very poor customer service oriented agents, and don't follow up. We dropped them fast, but not after wasting two good weekends to look, and the lost of a house we REALLY wanted to look at, another seller had placed in a offer by the time we got together with a REAL agent.

DO NOT USE ZIP!!!!!!!!!!!!!!

The boston group is top notch
had a great experience with my guy and home was over 1mill
he got it down 75k and fought intelligently for me on the purchase

This is not a forum for intelligent or thoughtful posts.....they will quickly get removed by TJ.
Zip hands down has the best and most user friendly site. TJ is obviously one of those clueless people who has no idea of how things actually work. How about doing all Realtors/agents a favor by representing yourself in the future. Let the professionals work with clients instead of people from crazy town.

How about you tell us how things work?

I don't remove post unless they contain offensive language or profanity as noted below.

People need to chill! Who else out there gives you money back? Zip Reality Rocks! As for sellers and buyers, you are your own person so list/offer what YOU see fit. No one is going to twist your arm to make a higher/lower listing or offer. We need to take responsibility and be responsible for our own decisions especially when we are talking about our money as sellers/buyers. Just a thought!

RE: Meli

Um, That was actually one of the main points of this post to begin with. I talked about not even using a realtor because then you would have more control of the process. You can't really trust a Realtor for a lot of the home buying process, you really have to on top of your game because their is a lot ways you can get screwed in the process. The Zip rebate is fine and everything but when you're dealing with such a large transaction you shouldn't necessarily go with the cheapest agent either should you? You may get what you pay for. Just my thought!

I just gave Zip my letter of resignation. This company will slave you 7 days a week with leads that are not confirmed, ground you to ten miles in your area and encourage you to submit very high offers. Do not buy, sell or work as an agent for this company. You will never get an accepted offer. Poor training and rude managers.

If you want insider knowledge on tricks agents use, check out my blog. www.justhanbai.com. Agents are useless. I am an agent and for many deals I lead people toward flat fee listing services. I've gotten more referrals for larger deals because of this. Let me say this another way. For 90%, of the residential deals you don't need an agent.

We bought our home with Zip Realty as our agent and we were extremely happy with the whole house hunting/buying experience. From scheduling house showings until the day we closed the deal, our agent helped us along the way. The rebate that we got was a little lower than what was initially shown on their site because of the final commission that Zip received. (I do hope people read the fine print regarding the rebate). As for the inspection, our agent gave us a list of inspectors that I can contact. I did not rely on his list alone but, instead also researched on some of the known home inspection companies in our area. A little homework goes a long way.
As for putting a higher offer for a house, if you really want it, make a better offer. You have to realize that that the buyer's agent can only negotiate up to a certain amount and if the seller won't accept, it's either you increase your offer or withdraw. There are more people that you think who are willing to buy the house at the price the seller wants.
Finding a good home is a combination of hard work and some luck.

RE: Tarugo

I do hope you read the whole thread as everything you wrote has already been discussed to death here already.

I am doing my research on possibly becoming a ziprealty agent. Can any agent tell me is this is a good or bad thing. Is there a huge upside? It seems as though Zip corp makes some big money for itself, while taking on the tax burden...What is a W-2 employee really mean? You can do a flat fee/ limited service brokerage from you laptop at Panera. What do you really get? This is my core question, and a follow up will be: Does zip provide enough support and training to do this part time? Also, can they fire you?
I am in the chicagoland area, and any help would be greatly appreciated.. Thanks to all I await your reply

I left Zip because I recieved too many leads that turned out to be just like you TJ. The rebate is an extra. If a few hundred bucks is so important maybe you should rent for a while. You are probably in foreclosure by now anyway. As REALTOR I can say that I love it when an unrepresented buyer comes to my listing, I can get more for my seller. I pride myself on the best deal for my client, sometimes that is not what the client expects. You have to be trained in the market. Just because it is listed for x amount doesn't mean you should offer %6-10 less. I have been involved with millions of dollars worth of RE transactions and can assure you that without a REALTOR you will be on the short end in one way or another. I hope your next transaction will be a successful one, and you will be more satisfied. Based on your previous responses I anticipate some negative conotation. So let me have it! I will consider the source.

It has been my experience in my previous profession, that any client that is looking to just save a buck, tends to be the squeakiest wheel. At the end of the day, the work it is just not worth the small return. It is like shopping at Walmart and then returning to shop at a high end store... you get what you pay for.

I am looking at Zip Realty and have a question for you (then a comment for TJ, I promise...)... I like that they don't have the upfront fees and monthly technology fees like other agencies. The training they spoke of is free upfront, a little hesitant now that I read about LIstings taken away and given to others... but what other agencies pose a positive option, that don't require an upfront fee or monthly technology/desk fee?

I have been a rather savvy business woman to date, and find it hard to believe that just because of who I work with, that will be stripped from me.

Now for the comment for TJ, as promised. My cousin bought a house using ZIP realty, she read the fine print. She was quite satisfied with her experience and was the one that turned me on to them. So I think possibly, you got a lazy agent or they were just not in a good place when you worked with them.

Kw (i assume Keller WIlliams agent) you mention the leads were too many, but did you find that the leads were just that... leads or just time wasters? How many deals per month were you closing or how many buyers/sellers were you working with each month? Would love more info.

I am in the North Houston market if that helps anyone. So i too am researching the feasability of giving back 20%, because the rebate cap to any non-licensed person in Texas is $25!!!

The funny thing is I did read the fine print and that is where I got that the agents commission ranges any where between 2.5% and 3%, but in my case it was lower then the fine print. A .5% difference in the commissions means I was out $385+. But it wasn't the the money that I care about it's the fact they are dishonest in their promotion that bugs me. I am still a happy home owner despite the bad experience using Zip Realty. Other than the searching phase I didn't get any benefit from using them and overall I think I would of been much better off not using them at all.

I found Zip to have zero interest in negotiation and it felt like they were trying to use their big corporation to bully every body included in the deal to work in their favor (which in this case was to get the deal done quickly not in the best interest of their customer).

We can only hope they will go out of business soon. All of the services they offer can be found elsewhere with more professional Realtors. From people I know who personally know some of the Realtors who have worked for Zip in the past say that Zip Realty banks on first year Realtors before those newbies wise up enough to go to a traditional real estate firm.

TJ,

I feel sorry for you. You are a very negative and combative person. Pretty sad life to have. You complain about getting 20% of 2% commission. Shouldnt have went to re/max and see what they got you... good luck on being happy in life!

Alex, Why thank you for your sardonic regards. You seem like you have a sad life too but how much can you weigh first impressions over the internet? I don't put any weight on them so that keeps me happy.

TJ - Alex is probably an agent and I agree with you. Zip is terrible. They won't even talk to you until you get preapproved. Avoid and just go to a full service broker - it will be worth your while.

Strange that you are having all this bad luck with ZipRealty. My experiences with Zip have been completely positive. How anyone could say they aren't a full service Realtor is beyond me. They have done everything and then some compared to my last experience with Coldwell Banker. Without the extra 295.00 transaction fee that CB charges.

Regarding Realtors trying to get as much as possibler for a house....that is absurd. They make approximately 15.00 per every 1,000 on a sale. My Realtor just wants to close and get on with the next sale instead of wasting his time and potentially jeopardizing a deal to squeeze another $75 out of it.

I am a Realtor for 11 yrs. I have worked in the good, the bad and this ugly market. FOR ANY BUYER TO MAKE STATEMENTS ABOUT INSPECTORS OR AGENTS W/O CREDIBLE KNOWLEDGE ON HOW THE SPECIFIC TRANSACTION is or not to his/her satisfaction only tells me that he is not a very good buyer. Almost non intelligent. I do not work for Zip, but I have found through my yrs of experience that most buyers think they know it all and in reality they don't. BTW: If you were so darn unsatisfied why did you not just walk away from the deal. NOBODY PLACED A KNIFE AT YOUR NECK TO STICK WITH ANY AGENT. SO BE A MAN accept the fact that you did not know what you wanted. have a great life.

By the time you get your "commission" it is less than 1% of the transaction and it takes forever to actually see it; even if it makes it to payroll in Cali and you upload all of the required doc files into the system! If your a new real estate agent find a good traditional real estate company that offers FULL service and GOOD training and a leadership team that actually knows what they are doing and how to stay fresh in this ever changing market! Free leads are not free! Zip offers Zip in pay, training and support!

Hi Bella, as an FAA Certified Flight Instructor I would not expect your first flight as a student pilot to be in a 747. We start with basics and build on a solid foundation of trust. As a buyer we depend on you “the agent" to navigate us through the process. Navigating means you the experienced professional know the details, pit falls and consequences of decisions made by the “buyer”. That said your comment “FOR ANY BUYER TO MAKE STATEMENTS ABOUT INSPECTORS OR AGENTS W/O CREDIBLE KNOWLEDGE ON HOW THE SPECIFIC TRANSACTION is or not to his/her satisfaction only tells me that he is not a very good buyer” exposes your character and lack of professional integrity. I am a professional recently relocated to Colorado, trusting my Zip Realty agent and her Broker, recently lost a sizable amount of money because the agent lacked the knowledge and communication skills here in Colorado. The property we contracted with appraised for more than we paid. The Sellers agent and Broker out smarted our ZIP Realty’s agent costing us our good faith money. So my advice is look in the mirror and ask, “would I trust you to help me buy my home?” Clearly understand there are no poor buyers there are ONLY poor Real Estate agents.

Relo, that was well said and I agree that any professional would not speak like that. It seems though that a lot of Zip agents do have the tendency to make such pointless tirades here, which is only further diminishing the creditability of the company they work for and all other agents in my eyes.

The point you hire a real estate agent is so it makes you a "good buyer" Their experience is suppose to help you with every part of the transaction. However what I learned is that is not the case. The buyers agent is just another person added to the equation who is going to try and sell you any house so they can make a buck or two.

Client decide what price he wants to offer and agent goes with it..you can not expect agent to help you buy 200k house for $110k,as that is not nagotiating,but it is craziness.If you read well Zip site it is stated USUALLY COMMISSION IS 2.5 - 3%..so it can be bellow.No one forced you to take their inspector,you could flip yellow pages and call the first inspector on A.I work for Re Max 12 years, and I am glad you weren't my client.Cheap,rude ,but want to be treated like a King...

Milos, You are exactly right

I don't think Milos read the blog before posting as she didn't even address any of the complaints and mentioned nothing that had not been said before. Where was someone asking for 55% off the purchase price? Was that on a different blog or something?

The problem with Zip realty is that their top people from their CEO down never sold a house for a customer. Their CEO doesn't have a clue what the customer wants. When the company had a chance to hire someone who has real estate experience and was willing to run just one office to prove what he could offer the company the CEO vetoed all other company executives. Was he acting in the best interest of the stockholders and the company or was he just insecure about his lack of real estate experience ( his background before joining Zip was in selling Campbell's Soup). Was he only protecting his own $350,000 salary? Why hasn't the Board of Directors doing something about a company that has never shown a profit?

DS
Fantastic Post!!!

TJ,
I am not currently a Realtor, but was one years ago. What you're not understanding is that your agent and Zip Realty do not have control over what their gross commission will be. Years ago, the average commission offered to a buyer's agent was 3% but now, with all the short sale and bank owned listings, they are only receiving 2% if not less. A buyer's agent is not permitted to negotiate his/her commission as it may result in the sale not happening and this would be a detriment to you as the buyer. Look on your closing statement and you will see what each real estate company was paid at closing. Remember, the less the buyer's agent makes, the less you make. Since leaving the business, I have worked with many companies including Zip and I have never had a bad experience. I am an investor and I find that the agents with Zip, although many of them rookies in the business, cared more about me than ones that have been in the business for years.