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Zip Realty ( Sucks

Zip Realty ( Sucks - Review
I recently purchased my home using Zip Realty (ZipRealty) as my buyers agent/realtor. Here I present numerous faults to consider before using Zip Realty as your agent.

1.) The rebate they advertise on their website is not actually what you receive. For buyers Zip realty offers a rebate equal to 20% of the commissions the agent receives. On the website the buyers commission is listed as being anywhere between 2.5%-3.5% of the purchase price. In reality (or at least in my case) it was only 2% of the purchase price (which I only got 20% of) .

2.) Very Poor negotiation skills - since Zip Realty receives less for each sale (they give some back to you) they are going to try get you the highest purchase price because they have to make their money some how. You would think Zip would give training in negotiation to their agents. However my agent had no negotiation skills. They do not work in your interest to get a low price on a sale. I told my agent I wanted to sit on my offer and he actually talked into offering a higher offer. My original offer was less than 6% less the list price which he suggested but he still talked me up.

3.) Do not use their recommendations for inspectors has big relations with inspectors to make a sale go as smooth as possible. The problem with this is if you use one of their inspectors he/she will be less likely to issue a true report because the inspector could lose all business relations with Zip Realty. If you were selling a service would you want to lose a big customer? The website lists inspectors in each state that do not have relations with realtors if you need a referral.

Here is a great list of websites to use for your home search: Top 10 Real Estate Search Tools

last update: 02/01/2010

By TJ on Tuesday August 26, 2008 @ 12:03 PM | Views [72531] Comments (123)

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