It’s far too easy to get a real estate license. This, from an Arizona point of view. Change the numbers a wee bit and the state to “Virginia” and I will just go ahead and say “ditto.”Ryan Homes pulls out of Old Trail…. I am still discerning what this means from a market point of view and second, my confidence in “the people” is heightened for some reason.I’ve said it before and I am sure that I will say it again – smaller, more efficient, smarter spaces are gaining traction. McMansions will be looked upon in the future with a sneer of derision.202 real estate blog posts in one day? They are nuts. Nuts I say!The Dinosaur speaks. Without resources such as Bacon’s Rebellion, many would never even know just who Sen. John Chichester is, and just how much influence he may have on our daily commutes.
Browsing Category Public Perception
Should buyers forego inspection in a hot market?
This story is from Inman today (and is subscription only)Should buyers forego inspection in a hot market?His answer:This is just one more reason why “it is the height of professional irresponsibility for any real estate agent to advise a client against having a home inspection.”My answer:Hell. No.
Being selective
Or, how does Buyer Agency/Buyer Brokerage/ Exclusive Buyer Representation benefit the agent and the the Buyer?
There has been a lot of discussion at RCG and Bloodhound recently about Buyers’ Agency and the associated compensation. I can speak specifically about the Commonwealth of Virginia’s Buyers’ Agency and and generally about the concept of Exclusive Representation.A few items: First, I have said many times before that the real estate industry is going to have to move more towards representation of clients’ interests and somewhat less of “selling” and marketing, for a variety of reasons. One of the most basic reasons for this switch is that marketing is becoming easier, with the proliferation of new sites’ (read: Google) entry into the real estate marketing field.How do both parties benefit? Allen says:I feel it is unprofessional to be working with someone when the obligations to each party are not clearly defined in writing…. But once you decide to work together then there should be written agreement stating what each party is obligate to. I don’t necessarily agree that I need a written agreement that states what I am going to do (whatever it takes) nor I feel I need anything other than a handshake to work with clients…. It seems that the cutthroat aspect of this business has led to distrust and a general lack of loyalty – on both sides… We need to get rid of the Dual Agency aspect of the agreement, something I do verbally with my clients.I don’t work with everyone I might, and part of that is that if I were to spend my time chasing every potential client, then I wouldn’t have time for my good clients.
Default position
I had occasion to show a new construction development this afternoon. I arrived early and talked to the on-site agent for a few minutes. They have a stock form for the public that states “Buyer Brokerage is available.” I asked her how they handled Buyer Brokerage, what would happen if a buyer wanted representation. She said, “I would do both.” Folks, until Dual Agency is the exception and not the agents’ (and company’s) default position, some agents will continue to have shady reputations and, by default, so will my entire profession. Dammit.
The HVAC company who will get my business
This afternoon I am sitting in a condo in Turtle Creek in Charlottesville waiting for the HVAC people to come between one o’clock and three o’clock. Lo and behold, my phone just rang (at 1:16 pm) and she told me that they were on their way!Not only are they coming closer to the one o’clock than the three, but they called to tell me! Sad as it may seem, this is an unprecedented level of professionalism and common courtesy.Albemarle Heating and Air.There is at least one other company whom I use, but there are several more who take business for granted.
Are ethics stronger today?
I disagreed somewhat in class, but vehemently inside.In a very-unscientific analysis, I turn to Google Trends to see what trend, if any exists – perhaps a slight downward curve across the board.I’ve said it before and I’ll say it again – the most simple business practice is to be honest in all that one does – at the very least a track record will be there to call upon in the future.When the “The University” starts negotiating various degrees of honor with regards to the “seriousness clause,” something is terribly wrong.Why bother with an honor system at all? This story, from the UVA Magazine, is a fascinating read.“I think a lot of people are unwilling to hold someone accountable for an honor offense unless it’s a serious one,†one juror told the Cavalier Daily…. Why so much reluctance to nip it in the bud?Realtors are held to a high standard and deservedly so. The transactions we manage and consult on frequently represent the single-largest transaction an individual or family will ever do. The Realtor Code of Ethics is eight pages long.The perception of the deterioration of ethics is not endemic in any one industry – be it real estate or the corporate world. It’s just that we seem to have lost our way.A Google search reveals very few posts that discuss Realtor ethics in a positive light…. Real estate is just like any profession – there are good Realtors and not-so-good ones…. Best to be one of the “good ones.”Greg makes some good points about the Realtor Code of Ethics at Blue Roof.
Lessons learned
I had an interesting conversation this morning from which I learned several things – 1) Everything is a learning experience.2) There are two sides to every story.3) People actually read this thing.4) Perception may not be reality, but it most assuredly affects and impacts peoples’ decisions.5) The power of one voice can no longer be overlooked.6) The evolution of the power of blogs is still young.I hope to offer more on this conversation later. There is more to the story and I would love to share it.