ethics: Customer? Client? - 12/05/09 03:31 PM
One area of consumer confusion revolves around the use of the words Client and Customer in regards to a real estate transaction. And there are some VERY important differences between the two.
Let's start with the basics...(this applies specifically to GA, but might be true in some other states)
What is a Client?
A Client in a real estate transaction is the person that a particular agent represents. That means the client has a written contract with the agent to represent the Client's best interests. In essence, the agent is required to put the best interests of the client above their … (2 comments)
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ethics: Go ahead and get mad now... - 11/16/09 04:07 PM
It doesn't matter whether you agree or disagree... You'll probably be mad about this, so go ahead and get fired up.
The vast majority of real estate agents are honest, ethical and hard-working. But there are some that don't hit all of those points... either by choice or by circumstance. And those people need to be rooted out. Their behavior needs to be corrected or they need to find another line of work.
One very easy way that incompetent or unethical agents show themselves in in the presentation of offers.
§ 10-6A-5. Duties and responsibilities of broker engaged by seller … (54 comments)
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ethics: Foreclosure Stripping? - 11/15/09 12:16 PM
Clark Howard was talking about this a couple of days ago, and Fox News is talking about it today. And it doesn't involve a pole...
Foreclosure Stripping...
In effect, some folks that are losing their homes are "fighting back" in their own little way. Prior to departure, these folks are looking to get as much cash from the house as they can before they are out. They are removing items from the home and selling them via Craigslist and other means:
Appliances Countertops Cabinetry Flooring Light fixtures Wiring Plumbing... including copper pipes Wood from the deck Most of us in real … (14 comments)
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ethics: Do you think THAT is how you can "earn my business"? - 10/29/09 03:09 PM
I had a website company call me today... They wanted me to buy into their system. Since I have two closings in the next two business days, my time might be called a little crunched...
So, I asked for the quick version...
Two hours later we were approaching the "what is it going to cost?" question. Two hours is the quick version? I'd hate to think of what the full presentation would be like... I had a time share company pitch me in less than two hours. But lat's get back to the beginning...
When he called, he asked me if … (8 comments)
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ethics: Broker Fees? - 06/25/09 10:15 PM
I’ve seen an annoying new trend. Buyer and Seller “Broker Fees”. It may go by various names, but amounts to the same thing… what Clark Howard would call a Junk Fee.
These are quite different from the other fees that may be involved in a real estate transaction, and there are a LOT of fees. The lenders have fees, the closing attorney has fees, there are state fees, county fees, insurance fees, delivery fees… Simply put, buyers and sellers are paying plenty of fees. Adding some BS junk fee like a paperwork fee, transaction fee, administrative fee or broker fee is … (10 comments)
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ethics: Atlanta seems to Love its Bruisers... - 06/10/09 12:13 AM
Just something I've noticed...
In hockey there are players tasked with protecting their teammates. They are referred to as enforcers... I've had the opporunity to meet three of them.
Jeff Odgers - Former Thrashers player Eric Boulton - Current Thrashers player Dan Sullivan - Gwinnett Gladiators player Jeff is well known to Atlanta hockey fans, and VERY well liked. In 2002 he won the Gilner-Reeves Community Service Award for his efforts off the ice in the community. This past season, the award was split between Eric and Garnet Exelby ("X" is another of the Thrasher's enforcers).
Dan is also a big … (0 comments)
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ethics: I don't care WHAT the instructions are... you WILL submit the offer... - 06/03/09 12:01 PM
I am getting pretty tired of seeing...
Offer will not be submitted to seller unless buyer prequalifies with ___ Mortgage.
Let me give you a clue... Yes, you WILL submit the offer. It may be rejected by your client, but you will submit the offer. If you don't, feel free to send me a note in writing stating that you won't submit the offer per instructions from your client.
I will take that note to the Georgia Real Esate Commission and you will be in a load of hurt... License Law requires that ALL written offers be submitted to the seller... … (15 comments)
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ethics: Pre-Listing Inspections for Sellers? Good Idea? - 05/01/09 07:33 PM
One morning last week I dropped by 590 Baltimore Ave in Lilburn to meet with the sellers and the inspector. They were having a pre-listing inspection performed to make sure that everything was in perfect condition.
It is obvious from just walking through that the property has been well cared for during the fifteen years since it was custom built. While I have yet to see a perfect property… even brand new construction… this one ranks pretty well.
When the results become available, we will share them with any interested buyers. Of course, I still recommend that buyers have their own … (6 comments)
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ethics: Life Lessons from a bunch of Losers... - 04/07/09 11:47 PM
Back when I was a kid... early 1970s... I played little league baseball for a season. And it was a truly terrible season. I don't know if Jackson, MI had ever seen a worse team.
There were two distinct levels in the Little League program at that time. And we weren't in the higher level. After try-outs at the Field House at Parkside High School, I along with a few of my friends were sentenced to placed on a team. The upper league got names (Yankees, Tigers, etc.). We got colors. We got Orange.
The upper teams had a Coach, Assistant … (6 comments)
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ethics: Midori Miller kicked my butt! - 02/19/09 03:22 PM
Midori wrote a post yesterday morning that made me do something... She's evil that way. ;^ )
In Midori's post, she was talking specifically about schools and teachers and being involved in our communities. You should read it if you haven't already.
The Ultimate Pay It Forward, Teachers Thinking About Our Future
For those of you that don't know, my father was a teacher for many years. He taught Junior high School, High School, Middle School and College at various times. The subjects were mostly math and the sciences, especially earth sciences, geology, paleontology and paleogeology. He loved teaching. Even when … (12 comments)
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ethics: I turned down a listing today... because it was the right thing to do... - 02/07/09 12:49 PM
I just got back with a meeting with a potential client. We had a great time chatting about the market, her house, the area and where she wants to move back to. We shared stories about family and friends. In fact, it was less a meeting than a long awaited meeting between friends.
She was referred to me by another Active Rainer. She had contacted the other person through her blog, but had a need to sell here before moving. But she has only been here a year and a half, and she is upside-down on her property.
We talked about … (46 comments)
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ethics: Government spending is NOT the answer, Part II - 02/07/09 12:38 AM
I wrote about why I don't think government spending is that answer to the current crisis, but there is something that I didn't include in that post... because it deserves a post all of its own.
And it comes down even more specifically why the government should NOT be the source of spending for the recovery...
Where does the money come from?
Look in the mirror. Look at the people who run the cash register at the grocery store. Look at the guy that owns the shop where you get your tires rotated. Look at your kid's teacher. They supply the … (30 comments)
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ethics: A little sociology experiment (and $100,000.00) - 10/17/08 08:20 PM
Have you ever seen the movie Trading Places? Dan Aykroyd and Eddie Murphy...
Anyway...
Let us just suppose for a moment that I had a friend that was willing to donate $100,000.00 to an individual. But, it wasn't without strings... In fact, there would be one giant string.
What would you do with the money?
This isn't about donating to some worthy cause. The money is for you. You can do anything you want... buy anything, invest in anything, rent anything... Just to give you an idea, I'll give some random possibilities...
Rent a C-130 cargo plane and fly a bunch … (20 comments)
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ethics: The ultimate income redistribution... - 10/17/08 02:59 PM
On a couple of my recent politically focused blog posts, there have been a couple of writers that have decided it was the time and place to talk about distribution of wealth and using personal tax policy to create balance. Of course, the problem was that NEITHER of these posts were about personal income taxes and their role in "appropriately" distributing wealth.
I deleted one of the comments since it was so completely off subject it just wasn't worth keeping...
But I am a fair guy...
So, here you go.
There are going to be some ground rules.
Be ready … (24 comments)
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ethics: Chicago Sheriff Refusing to do Foreclosure Evictions - 10/08/08 02:59 PM
This is from the AP.
Residents of foreclosed properties in Chicago and other parts of Cook County don't have to worry about deputies forcing them out. Sheriff Tom Dart says that starting Thursday his office won't take part in evictions.
Here is a link to the story.
on the face of it, I am offended that the Sheriff in Cook County is refusing to do his job. And that is specifically and exactly what is going on here. I'm sure it isn't fun... and I have accompanied Sheriff's Deputies on a Foreclosure Eviction... but that is not the point. The point … (16 comments)
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ethics: Get the good credit you deserve... - 09/27/08 10:19 PM
Driving home this afternoon I was behind a small SUV that had an advertisement for a "credit repair" firm on the back. And that was specifically what the sign said:
Get the "Good CREDIT" you DESERVE
And as I drove along, I was thinking about that... it brought up a point:
Do you DESERVE good credit?
Is good credit some sort of right? I know people with incredible credit. I know people with lousy credit. I have had both. I know that when I had lousy credit, I deserved it. When I had good credit, I earned it. And that is … (3 comments)
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ethics: Leadership or Followship? - 09/25/08 10:38 AM
The events of the last 24 hours are pretty interesting.
If you have sworn off news because you don't want your optimism bubble popped, this is a little of what has happened... John McCain has suspended campaigning and fund-raising in order to concentrate on the financial crisis from the halls of the Senate. He also asked that Obama agree with him to delay the first debate for a couple of days so that both of them could be in DC rather than Mississippi prepping for a debate.
Obama and McCain also issues a joint release regarding the financial crisis and points … (2 comments)
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ethics: Greed? - 09/21/08 01:49 PM
I think that I have heard three score and seven commentators use the word "greed" today. And honestly, I'm pretty tired of it. They all seem to have an idea of what they mean, but none of them seem to have a clue what it actually means.
The "accepted definition" is something like: excessive desire, especially for wealth or possessions.
But that leads to a GIANT problem.
Who decides what is too much?
I'm not defending greed. I'm saying that it is a vacuous term. Instead of worrying about greed, maybe we should worry about ethics. Maybe we should worry about … (43 comments)
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ethics: Mechanics and Real Estate Agents... - 09/19/08 01:56 PM
I just got hoome from having some maintenance done on my wife's minivan. Makes me a little crazy...
I used to be a service writer for an Auto Center. I also worked in an auto resoration firm, auto parts store and auto body shop at various times... I even owned a 4x4 shop for a period of time. I know the auto service industry, if not completely, then at least much more than average.
There are good mechanics, crappy mechanics and incredible mechanics. I've worked with all of them.
I know that the majority of them are stand-up folks that do … (3 comments)
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ethics: Unacceptable... - 04/26/08 02:48 PM
While coming home from ice skating with my son today, I drove by a listing. It looked kind of interesting. Pretty yard, nice area. It made me a bit curious...
So, when I got home and my son was taking his nap, I looked it up on the MLS. I'm not going to discuss the price because it is not material. I didn't run comps to see how well priced it was for the neighborhood, but my gut tells me it is close.
But what I saw was completely unacceptable. I sure hope there is a reason, but I really … (67 comments)
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