Larry Feiner RE/MAX Professionals Larry Feiner Real estate Ripoff, tries to sell houses for 36,000 more than purchased by the seller Glendale, Arizona

I hardly ever say I told you so, but Rob, I told you.  The house closed.  It was a cash sale and it closed for $145,000.  Remember when I wrote that my comparative market analasys indicated a price of $145,450? It's n0w on the rental market for $1,400. 

Do the right thing Rob.

We have used Larry for the purchase and sale of our last few homes. This comment is not fair nor reflects the qualities that Larry Feiner possesses. He is an awesome realtor and individual that displays utmost integrity and professionalism He has worked hard for us and others that we have referred to him over the past 5 years.

It is obvious that this buyer is ignorant to the market. We too looked at several investor properties and Larry was always forthcoming with information on each property. Do your homework and make your own decision don't get a family member involved that isn't familiar with the local housing market.

It was not Larry that set the sale price 35k more than what it sold for a few months prior it was the investor. Maybe you should of written a report on the investor, not the middle man trying to make a living.

Dude.  The government is tapping your phones, the moon landing was filmed on a Hollywood sound stage, aliens are controlling your mind, and real estate agents are out to get you.   Seriously?  

What fictional housing market are you trying to buy in?

Yes, the world has changed in the past few years, but buying a house is still the same.  You make a bid that you hope will not be too high that you over pay, but high enough that you wont be out-bid.  If this guy bought the home for 119 and in two months re-listed, then he has done improvements and is looking to make as much as he can from the work done.

I work with a girl who has put in bids on three houses to date and lost all of them to another buyer offering more.

Stop blaming others for your lack of understanding of the market.

I am forever amazed by the stupidity of people.

 My husband and I were introduced to Larry over ten years ago.  We were living out of state at the time, and were looking to buy in Phoenix,  within a short amount of time.  We gave Larry a long list of specific needs (over the phone mind you), and waited.  Larry went out of his way to fill each and every need, and within a very short amount of time, we were the owners of a new home.

A few years later, Larry found a lovely home in a perfect neighborhood for my mother who moved here from out of state as well.  A few years after that, we gave Larry a new list.  We needed a place to combine two families, and Larry once again came through.  We still weren't through with him!  Larry has come through for my family so many times, that I feel he has become a part of it.  How many people can say that about their realtor?

Shame on you Rob. Didn't your Momma teach you to think before you speak?  And rather than depending on your Uncle, maybe you should attempt to educate yourself about the market, as well as buying a new home, before making such a big move.    

I read this article and thought to myself this guy must be joking about posting a complaint like this.  Since when do you think someone who paid something for a house two months earlier would want to sell it for the same amount two months later! Obviously they either got a smoking deal on it and so they bought it or they flipped it!  Meaning they put money into it! For example, I bought a house for 225 and sold it for 290 a year later in this market!!! does that mean i made a full 65 grand in a year? NO! I put money into it. i remodeled the whole house!  So if you came to me with an offer at 225 i would of laughed at the offer and never even had my realtor respond! Sounds like your realtor was trying to help you not waste your time with a worthless offer!  Realtors usually pull comps for the area and can assess what the house is approximately worth.  From what i know since i do keep track of the housing market because i'm looking to buy again.  I can tell you it is not necessarily a buyers market right now.  There are not tons of houses on the market like one might think!  I think you should really take a look at yourself for writing a report like that and i hope ripoff takes a look at it too and removes it!!!  That is not fair to a realtor that sounds like they were doing their job! Just becuase you have unrealistic expectations does not mean you should put that on him.  He said he would write the offer for you from what i read!  HE Just told you that its probably not going to go through.  Had he not told you what he did, in my opinion he wouldnt be doing his job!  good luck in finding a realtor that wants to deal with ur unrealistic expectations.  IF YOU WANT A GREAT DEAL FIND SOME CASH AND GO TO A AUCTION.  IF YOUR LIKE THE MAJORITY GOOD LUCK!

Although you left out some material information, most of what you wrote is true and I thank you for that.  There are some gaps that need to be filled in though.

First of all and most importantly, I always had your best interests in mind.  I never wavered for even one moment in fiduciary responsibilities to you. I attempted to educate you from start to finish, but the minute you heard something you didnt like, you got upset.   You didnt like the fact that you were hearing the truth. 

It was at this point when you had your uncle call me.  He was rude, insulting, and over 1,500 miles away.  Sure, I stood up to him.  I told him what I know is true about my market.  A market in which I am a full time REALTOR and have been for over a decade.  Your uncle thinks we are in an extreme "Buyers Market and that our market is the worst in country. I tried to explain to him that that simply isnt true anymore and that we are in fact experiencing a shortage of inventory, multiple offers, and a very short days on market.  He said hed check my story out with his sister, who works for a title company, and if she backed up my story hed send me a dozen roses.  He promised to call me back either way. I guess he isnt used to people standing up to him because he didnt have the fortitude to call me back. If the market was truly as bad as he described, then I would have told you to rent for a while and see how things shake out.  

Its actually an amazing time to buy homes in the Phoenix area.  We are recently passed the bottom of the market and interest rates are still unbelievably low!  Even though I know it wont be with me, I still hope you take advantage of it.  I believe it will be a good thing for you and your young family.

Anyway, on to the facts:The house was listed for $148,900.  It was actually the lowest priced home available in the entire master planned community.  It was also one of nicest and largest homes in that subdivision.  My Comparative Market Analysis indicated a price of $145,450 and included a detailed tax and sales history report.  I know Zillow doesnt measure value using the most accurate methods, but since you sent me a Zillow link to point out an old listing, I pointed out to him that Zillow had actually valued this property for nearly $165,000;  a full twenty thousand dollars more than my more accurate analysis. (That was 6 days ago.  Today the Zestimate is $173,900)

Rob, you mentioned old listing from two months ago that was a listing which ultimately became a failed attempt at a short sale.  There are a number of reasons why some short sales dont go through, and in this case, the lender for that particular seller chose to foreclose on the house instead of approving the short sale.

It was at the foreclosure auction, held at the county court steps, where the current owners purchased the house for $114,000.  It was purchased by an investment group that fixes up houses and puts them back on the market with hopes of turning a profit.  These foreclosure auctions are fertile grounds for investors because sometimes they can buy homes well under market value.  These foreclosure auctions werent an option for you though because you needed a loan to buy a house and the auctions require the buyers to pay in full with cash within 24 hours of winning the actions.

You might ask, how does the previous owners (not the current seller) asking price of $134,000 have any effect on what the current seller might accept?  Well, it has nothing to do with it.  Furthermore, what an investor buys a property for ($114,000 in this case) has very little to do with it either.  Remember, there was not one house available for less.  In fact there were smaller homes available for more!

So, yes, I told you that I would happy to write his offer.  I also said I didnt think the Seller would accept it, but we could certainly submit it.  Had I not told him this, I would have had to momentarily ignore his best interests. I cant imagine saying , oh yeah, I am sure I can get this through  It's a great offer...  Go ahead and start picking out furniture now  Its in the bag! about an offer that was $15,00 to $30,000 BELOW fair market value? By being truthful with you is where I was actually doing my job. 

Rob, you seemed to really want the house and I attempted to educate you on how to be in the best position to acquire the house.  Unfortunately for you, Rob, a few days later the Seller accepted another buyers offer.  I dont know if Rob put in an offer or not, but it seems the house is gone forever.  Perhaps this is what motivated you to write this frivolous report.

Once the escrow closes, well know what it actually soldfor.  And if it closes for an amount within $10,000 of $134,000, I will publicly apologize by posting with a YouTube video. If it closes for an amount that is equal to or above $145,000 then you delete this frivolous rip off report.  Fair Enough?

Larry Feiner
RE/MAX Professionals

Why is there anything wrong with a seller looking to make a profit on a flip?

Someone bought a house 2 months earlier at what was probably below market or wholesale, likely a short sale or foreclosure.

That seller may then have put money into renovations or repairs above and beyond the $114000 they paid for the place.
If you can buy a comparable home in that area for the $134000 that y'all got it in your head is the maximum fair sale price, more power to you.

But you have a lot of gall frying the broker over this just because y'all don't like the price being sought for the place.

As for the one that had 4 bids, it makes sense that the sellers would not want any more prospective buyers traipsing around, when they already have 4 firm offers in their hands. They're within their rights at that point to place whatever conditions they want on anyone else looking to see it. They probably figure chances are slim to none that anyone else will make a better offer, and don't want to risk anything getting messed up that could cause any of their offers to fall through.

Again, you tar and feather the broker over this and y'all look to be very much in the wrong.

And why are you, a buyer, paying any broker anything, to buy a house. The brokers should always get paid by the sellers. Did you sign up with him as a buyer agent agreeing to cover his commission?

Me and Larry went to look at a house and when we got there the key was missing from the lock box. He took me to look at the house from the outside and I told him it was a nice house. Larry calls the seller agent and is supposedly told that there are 4 bids on the house. So Larry tells me that the only way I can see inside the house is to make a bid on the house. Larry was trying to have me bid on a house that I had not even looked inside of.