real estate etchics: Do We Need a Class on Class? - 07/11/08 11:15 PM
We speak about ethics and legal issues when do business. As REALTORS® we have the Code of Ethics. It is required to take a class on NAR ethics periodically. Can you really teach ethics? I believe you either have them or you don't. The classes are great for reminding agents of the details, but they will never make someone ethical.
In the same spirit I am thinking that possibly we need a class on class. The classes may not give someone class, but will at least let them know what it is when they see it.
Here is a few examples … (67 comments)
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real estate etchics: Why Publicly Write About Bad Agents or Bad Business Practices? - 01/24/08 03:09 AM
Yesterday, while going through my e-mail I had a message from a really great client who found me through Active Rain. Towards the end of his message he stated:
"It seems business is good based on your blog. I still read it regularly. Keep up the great stories, especially the ones about the bad agents. Makes me feel all the more appreciative I found a good agent when I bought my place!"
The public is reading our posts. Why should we be writing about bad agents and posting it publicly? Some may say we are airing our dirty laundry. Some may say … (62 comments)
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real estate etchics: Doing the Same Thing and Expecting Different Results - 01/16/08 08:49 AM
I see many new agents come and go in our industry. As the market changed in the last two years many inexperienced and weak agents began to find themselves lost. On Oahu our market is much stronger than most in the country, yet we have seen a decrease in the number of closings.
I have lost count of how many struggling agents have spoken to me in the last year asking advice. Most were not willing to follow the advice. Several of them have either left the industry or have stopped doing business all together.
Here is my advice to struggling agents.
If what … (67 comments)
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real estate etchics: Practicing or Performing Real Estate - 12/17/07 04:21 PM
I just read a blog post by Scott Daniels titled: You have to have the right tools in order to practice Real Estate.
He shared a story about a real estate agent who was trying to practice real estate without the proper tools. Besides noting how poorly their clients were probably being serviced; it made me think of another question. When taking on a client are you practicing real estate (I mean in the context of trial and error) or are you performing the business of real estate?
Many times we as professionals run across others in the industry that clearly does … (32 comments)
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real estate etchics: You May Need a Mortgage Loan Officer if… - 12/07/07 03:05 PM
The final in this series designed to lighten it up a little. Here is a short list of things to watch out for when working with a loan officer.
If your loan officer has any or all of these attributes you may need a loan officer:
The name of their company is ABC Mortgage & Hair Cutting Emporium.Or the name of the company starts with Bob or Lefty.They promise you $100,000 cash back on all transactions.Says your 100% loan requires a large down payment.They ask you to fudge you income or employment information.Tell you if they can also be your real … (17 comments)
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real estate etchics: You May Need a New Home Inspector if…. - 12/07/07 12:23 PM
I decided to lighten it up a little. Here is a short list of things to watch out for when working with a home inspector.
If your home inspector has any or all of these attributes you may need a new inspector:
Uses a disposable camera.Always has a tooth pick hanging out of their mouth and calls everyone sport.Keeps hitting on your spouse.Takes the bus to the inspection site.Is also a loan officer, real estate agent and works at a fast food restaurant.Does not have insurance or see the need for it.Has fuzzy dice hanging from their mirror.Tests the plumbing by using … (6 comments)
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real estate etchics: You May Need a New Real Estate Agent if… - 12/06/07 02:16 PM
I decided to lighten it up a little today. Here is a short list of things to watch out for when working with a real estate agent.
If your agent has any or all of these attributes you may need a new real estate agent:
Drives a YugoHas a beeper instead of a cell phone.Drives the delivery truck from their regular job when showing properties.Is not a member of the Board of Realtors (says they are saving money).Has the nickname of Slick, Fast or Speedy or has a nickname of a city or state.Has a habit of putting their hand on … (31 comments)
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real estate etchics: More Regulation & Stricter Standards Needed For Loan officers - 11/24/07 04:34 PM
OK, I am bracing for the backlash from that title. Those who know me know that I am not a big government kind of guy. To the contrary in almost every case I believe in less government; unfortunately not in this case.
There have been several great blog posts written the last couple of days on similar topics. Rather than hijacking their posts I felt it better to write my own.
CALIFORNIA SUBPRIME BORROWERS MAY GET RELIEF? - More Questions than Answers by Lenn HarleyThe subprime mantra, "Easy in.....easy out" by Broker Bryant TutasWhat Part Do Individual Markets Need to Play In Our … (35 comments)
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real estate etchics: Why Use A Professional REALTOR® - 11/19/07 01:21 AM
In a time where television shows and get rich quick seminars teach people how to buy and sell homes on their own, I get asked this question from time to time.
Why don't we look at what a REALTOR® does and then we can ask that question again.
For Buyers
The process of buying a home has several steps to it.
Finding a lender and loan officerGetting pre-approved for a mortgage.Finding the right property.Identifying possible issues with the property.Drawing up the contracts. (In Hawaii our Purchase contract is 12 pages long plus in most cases several addendums).Establishing a value of the property.Negotiating the sale price … (0 comments)
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real estate etchics: “As Is” Does Not Mean the Buyer is Stuck - 11/07/07 07:27 PM
Have you been in escrow, done the home inspection and found major health and safety issues; to then have the seller who did not disclose any of these say it is "AS IS" too bad.
I know in some states "As Is" takes on a little different meaning. In Hawaii it does not mean the buyer loses any rights during the purchase process. Our "As Is" Addendum clearly states that. Some agents get confused on this issue.
I was representing a seller about a year or two back where the home had major renovations. It was beautiful or so we thought. The home inspector … (22 comments)
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real estate etchics: King For a Day Series – Real Estate Clients - 10/31/07 02:32 AM
After a comment from Jayne Dodgson on my previous post King For a Day Series - Real Estate Agents I realized I left off an important group in the series.
If I were King For a Day what rules would I make for real estate clients to improve the process of buying and selling homes?
If I Were King, These are a Few Things I Would Require of All Sellers:
Be honest at all times.Give full disclosure to your agent and the buyers on any material facts.Return phone calls and needed documents on a timely basis.Allow a lock box with very few exceptions.Make … (14 comments)
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real estate etchics: King For a Day Series – Real Estate Agents - 10/30/07 07:44 PM
OK, here is the one you were waiting for. If I were King For a Day what changes would I make to the real estate industry in the area of real estate agents and realty companies to better protect the public?
I have read thousands of news articles and blog posts, sat through hundreds of hours of training classes and meetings and participated in many real estate transactions. Through these experiences, I have formed some very strong opinions about changes I would love to see in our industry. This blog post is the final one of a small series of articles that … (40 comments)
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real estate etchics: King For a Day Series – Escrow Officers - 10/30/07 03:16 PM
If I were king for a day what changes would I make to the escrow industry to better protect the public or remove stress from the process of buying and selling real estate?
First, I know several were waiting for me to pick of real estate agents. That one is coming. Secondly the reason I chose to write about escrow officers is that they are an extremely important part of this process and probably the most forgotten among industry experts and the news media.
A few years back my wife and I bought the home we are living in. I apologize … (15 comments)
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real estate etchics: King For a Day Series – Handymen - 10/29/07 05:26 PM
If I were king for a day what changes would I make to the handyman industry to better protect the public? Now I am sure that many are asking; is there a handyman industry? Not an organized one, but handymen play a big part in our business and at least in my state can be a big source of problems or help.
This is the 3nd in a series of blog posts I am writing about how to better protect the public and improve the real estate industry. After selling many homes and being intimately involved in the process of working with … (13 comments)
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real estate etchics: King For a Day Series – Home Inspectors - 10/29/07 04:53 PM
If I were king for a day what changes would I make to the home inspection industry to better protect the public?
This is the 2nd in a series of blog posts I am writing about how to better protect the public and improve the real estate industry. After selling many homes and being intimately involved in the process of working with the public in buying and selling residential real estate I have formed some very strong opinions about changes I would love to see in our industry.
As will be a common theme in these articles I would insert more accountability into … (15 comments)
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real estate etchics: King For a Day Series – Mortgage Industry - 10/28/07 02:38 PM
If I were king for a day what changes would I make to the mortgage industry to better protect the public?
I have read thousands of news articles, blog posts and sat through many hundreds of hours of training and meetings through our industry. As a result I have formed some very strong opinions about changes I would love to see in our industry. I have decided to write a small series of articles that will pick on several parts of the real estate industry.
First I would insert more accountability into the process.
For a start I would require that each and … (72 comments)
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real estate etchics: More Clients are Calling Looking for a New Agent - 10/20/07 04:01 PM
In the last couple of months I have received contacts from more than a couple of people looking for a new REALTOR®. Since getting in the business I get these contacts from time to time, but lately it has been happening more and more.
I am extremely cautious when I receive one of these calls or a contact at one of my open houses, etc. If they are under contract with another agent, you can get yourself in a lot of hot water by saying the wrong thing. I would not appreciate another agent undermining one of my clients with me and … (38 comments)
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real estate etchics: A Good Case for Buyers Agency Agreements - 10/04/07 10:09 PM
I received an e-mail today that I expected, but still didn't like.
About two months ago I started working with a buyer who was referred to me from a really good local loan officer. I was quite complimented by his trust and started to show properties to the client.
The client was demanding and I was getting a few yellow flags, possibly a red one or two.
First flag came when I got a call that they wanted to put in an offer on a property they stopped in on at an open house. They needed me to shop them the property for a … (89 comments)
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real estate etchics: Accredited Buyer's Representative Class was a Great Investment of Time and Money - 08/01/07 08:45 AM
I was a little tentative about taking the Accredited Buyer's Representative (ABR) classes. I have my CRS the granddaddy of designations and felt the ABR may be a CRS light.
There were three things that changed my mind and helped me make the decision to go for my ABR and take the classes:
The predatory practices of several agents in the area.Professionalism; is it professional to work with a client without clearly spelling out your relationship in writing?The need to demonstrate to the public that I take my business serious.I have resisted using buyer's agency contracts in my business for several reasons. … (58 comments)
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real estate etchics: What Do You Consider Full Service? - 07/20/07 10:49 PM
This is a question that comes up in conversation among REALTORS ® and the public regularly. Why is this hard to answer? It is because everyone has a different idea of what is full service or even service for that matter.
I turned on the morning radio and listened to local real estate agent talk about how he charges a lot less and saves clients money while providing them the very same services. I thought that sounds like something the consumers would be looking for; the very same service for less money.
Later that day I heard a commercial for another company advertising … (54 comments)
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