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WE DON'T REALLY NEED TURF WARS ON ACTIVERAIN. WE ARE NOT IN COMPETITION. WE ARE SYMBIOTIC.

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

REAL ESTATE AGENTS ARE NOT COMPETING WITH LOAN OFFICERS, APPRAISERS OR HOME INSPECTORS.

REAL ESTATE AGENTS MANAGE REAL ESTATE TRANSACTIONS.  Since a real estate transaction will generally include a mortgage loan, an appraisal and a home inspection, we are engaged in one of the most symbiotic relationships in the business world.  We real estate agents represent buyers or sellers in the purchase or sale of homes.  We are not the loan officers, appraisers or home inspectors.  Some agents may perform mortgage broker services but that is a statistically irrelevant percentage.  However, that doesn't mean that we are not involved in the financing, appraisal and home inspection aspect of that real estate transaction.  Buyers and sellers rely on their real estate agents for guidance and to make sure that that buyer or seller gets to the settlement table. 

APPRAISERS ARE CRITICAL TO THE HOUSING INDUSTRY.  I have a tremendous admiration for the contribution made by appraisers to the housing industry.  I am of the opinion that, considering the critical nature of their contribution, the training and experience needed to perform their job, appraisers are paid far less than their contribution warrants. 

 

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Loan Officers

LOAN OFFICERS ARE CRITICAL TO THE HOUSING INDUSTRY.  Since most residential home buyers will need financing, a loan officer will usually be involved in the home buying process.  The interaction between the real estate agent and the loan officer is vitally important.  As agents, we appreciate the expertise and knowledge base of the complicated mortgage alternatives and details that help our home buyers succeed in achieving their goal. 

 

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Home Inspector

HOME INSPECTORS ARE CRITICAL TO THE HOUSING INDUSTRY.  The home inspection contingency serves buyers well and we rely on the experience and expertise of home inspectors to protect our home buyers from purchasing properties that are not in good repair.  I read the ActiveRain posts of home inspectors with great admiration and appreciate the insights that we gain. 

                                   

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Real Estate Agent

REAL ESTATE PRACTITIONERS ARE CRITICAL TO THE HOUSING INDUSTRY.  Fact is, real estate agents are more closely involved with every aspect of the purchase/sale transaction than either home inspectors, loan officers and appraisers.  We are the representatives of the buyers and sellers and manage the transaction from search to settlement.  There are no "off limits" areas when the involvement of other entities affect our buyers and sellers goals are involved. 

 

 

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From the four year history of my ActiveRain blog, I know full well that:

  • If an agent mentions financing in a post, we'll be corrected by loan officers. 
  • If an agent mentions appraisals in a post, we'll be corrected by appraisers. 
  • If an agent mentions home inspections in a post, we'll be corrected by home inspectors. 

WE AREN'T COMPETING, WE'RE WRITING ABOUT OUR EXPERIENCE.  If a real estate agent performs their job well, we cannot avoid interaction with loan officers, appraisers an home inspectors.  So, if we are involved in every aspect of the home buying process, we may want to write about some of those experiences, ideas or situations on ActiveRain.  There is no aspect of the real estate industry that is off limits for agents. 

  • REAL ESTATE AGENTS OFTEN REFER BUYERS TO LOAN OFFICERS.   
  • MORTGAGE COMPANIES ORDER APPRAISALS.
  • REAL ESTATE AGENTS OFTEN REFER BUYERS TO HOME INSPECTORS.

The symbosis is clear.  We are all interested in the success of a real estate CONTRACT OF SALE and helping the consumers of our services achieve their goals.   

                                                                   Helping Hand

 

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

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Comments (91)

Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Mutual respect is a must...

Great post!

Aug 07, 2010 02:00 PM
Gerry Suarez Jr.
New American Funding NMLS 6606 - Orlando, FL
FL Mortgage Guru

Lenn, and we are only as good as the weakest link in our chain, You didn't mention Title/Escrow Agents and the so many other services we often need (surveyors, septic, well and engineering inspectors, etc.) but I'm sure that was in the interest of brevity, not because their contribution(s) are any less vital.

From a lenders perspective you know I'm concerned when real estate agents post regarding lending issues. As we have both said, the devil lives in the details these days. So few lenders have a full grasp of the big picture, and the ones left these days are working 40 hour days just to stay on top of the changes. It's simply impossible for someone with other responsibilities to keep up with the changes and specifics. Unfortunately, that is how the seed of misinformation is sown. 

It's doubly dangerous when someone as well read and expected as you makes a statement. You certainly have the knowledge and experience to be more involved in the lending aspect, but how many other agents do?

I have enough experience to advise a customer on how their agent might best negotiate a contract extension on an REO property, but realize that can create more problems than I can foresee by overstepping my bounds. Do I let my agent partners know what tactics have worked in the past, and what tools I may have to offer- hell yes. But I sure don't tell the customer how I think it should be done.

I guess that's the point I'm trying to make. If you have burning issues regarding the purview of another team member, I'd suggest taking it up with them first, rather than risk that can of worms. After all, we all working towards the same common goal and the team is only as good as it's weakest link...

Gerry Suarez, Jr.

Your FHA Loan Pro!

Aug 07, 2010 02:22 PM
Tim Bradford
Cleveland, OH
NMLS 250013

Does anyone believe that a post like this is more appropriate to be a "Members Only" Post. 

When I joined ActiveRain I saw it as a way for Real Estate Professionals to Promote themselves and to provide Facts to the consumers of real estate services.  Over time I have see it changing to become more of a soapbox and at times where opinion or as Lenn says "Personal Experiences" come across or are interpreted as Facts.    

Regarding this post, my read of this post is that Lenn is promoting "Teamwork" as long as she is in charge.  I would think that she appreciate when field specific professionals offerred comments, suggestions, clarifications to public posts.  See her list of things dislikes as I believe it shows her need for control. 

  • If an agent mentions financing in a post, we'll be corrected by loan officers. 
  • If an agent mentions appraisals in a post, we'll be corrected by appraisers. 
  • If an agent mentions home inspections in a post, we'll be corrected by home inspectors. 
  • I see no problem with another real estate professional correcting me or providing more insight to my posts.  I actually welcome it. 

    This is probably an unwise comment because I am one of the Little People.  I hope it is taken with the intent it is presented and I would hope Dirty Laundry posts and Controversial posts were Members Only.  

    Aug 07, 2010 02:58 PM
    Melissa Anderson
    Be My Neighbor Mortgage - San Antonio, TX
    Your Texas Lender

    I agree with your post.  I also believe we should be careful in our areas of expertise.  I recently posted a blog about agents quoting interest rates, that was simply my opinion.  I believe AR is an excellent platform to discuss differences of opinion while remaining considerate and professional.  We are all in this market together and we must work together to achieve the same goal.  AR is not a business transaction, it is a format for us to ask questions, debate, explain our view point & sometimes vent.  We can all agree to disagree but we are still in the AR family :)

    Aug 07, 2010 03:09 PM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Gerry.  The point of this post is clearly stated in "WE AREN'T COMPETING, WE'RE WRITING ABOUT OUR EXPERIENCE."

    I don't originate mortgage loans.  I don't do home inspections.   I don't do appraisals.  Yet, when simply writing about these matters in posts for discussion or awareness to agents, comments make it quite clear that they believe that I should "stay in my place". 

    Crimony.  I'm not even writing about the individuals who do provide services.  I discuss ideas.  Things for agents to think about.  Issues to make agents more aware and encourage them to pay attention to all issues. 

    THAT is what this post was about. 

    It's back to the Stovepiping issue.  I want to tear down barriers to provide better services to consumers and raise the professional level of agents who work with consumers on a day to day basis in a manner that no loan officer, home inspector or appraiser can or even wants to. 

     

    Aug 07, 2010 10:50 PM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Tim.  The only time I post to MEMBERS ONLY is when the subject is ActiveRain.  Consumers regularly ask me about the services of loan officers, home inspectors and appraisers.  Further, consumers are greatly effected by the actions of these service providers in connection with their real estate transactions.  Unless the subject of a post is "inside ActiveRain", the thought of making posts "members only" never occurs to me.

    Melissa.  I love your comment.  We should be able to discuss differences of opinions.   I do it regularly, but never seek to "shush" someone. 

     

    Aug 07, 2010 11:01 PM
    Ed Silva, 203-206-0754
    Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
    Central CT Real Estate Broker Serving all equally

    Lenn I do like writing about my experiences, and sharing those that give me a better insight or present a unique challenge. On my next neat and clean transaction, I will write an appropriate blog. Please do not hold you breath with baited anticipation

    Aug 07, 2010 11:16 PM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Ed.  My breath is on hold in baited anticipation.

    Aug 08, 2010 01:11 AM
    Chuck Ward Local Video Marketing
    Florida Mobile Fusion Mobile, Marketing, Local SEO - Tampa, FL
    SMS Marketing, Google Plus Local Pages

    Reviewing this blog and"eureka" blog today has lead to ...... you guessed it

    A blog about how to solve the 3% seller concessions cap issue

    Aug 08, 2010 01:25 AM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    #80.  Now you have fodder for 2 posts.  Go for it.

    Aug 08, 2010 02:21 AM
    Evelyn Johnston
    Friends & Neighbors Real Estate - Elkhart, IN
    The People You Know, Like and Trust!

    Well said Lenn.  If I deal with a professional from one of the other areas of Real Estate and they cop an attitude, you can bet I will be seeking another professional.  We don't need any more tension in the transaction!  That being said, the professionals I currently work with and those of the past have all been interested in getting to the closing table too.  No one gets paid, well, yes, the appraiser and the home inspectors do get paid regardless, but they are still committed to a mutual closing...

    Aug 08, 2010 03:17 AM
    Charlie Ragonesi
    AllMountainRealty.com - Big Canoe, GA
    Homes - Big Canoe, Jasper, North Georgia Pros

    Lenn good post. I got a great compliment the other day from an inspecttor who asked me why I told my clients about radon. My answer was , Its my job. It is up to them to decide(and they did) whether or not to have the test. After the inspection and all was over i got a great note from the ispector saying he wised more real estate folks were like me. I need this today as i have a deal going south and for the first time in 8 years it is partially my fault. I am hoping to salvage it. But you are right in your post the relationships are symbiotic.

    Aug 08, 2010 07:04 AM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Evelyn.  Actually, I rarely meet an unpleasant person in connection with a real estate transaction.  It's on ActiveRain when I write about experiences with home inspections, mortgage loans or appraisals.  Sometimes they get pretty nasty.

    Erica.  Thanks.  I know I don't dream it.  I've got pretty thick skin but they would discourage a newer agent from even asking a question when we should have a free flow of ideas here. 

    Charlie.  Thank you.  It is, indeed, my job to acquaint clients with all their opportunities.  Good luck with your sale.

     

    Aug 08, 2010 08:48 AM
    Jenny Kotulak
    RE/MAX Real Estate Centre Inc., Brokerage - Oakville, ON
    Broker - Oakville Ontario Real Estate

    No professional involved with a real estate transaction wants to kill a deal.  If everyone does their job right there should be no problems unless the buyer or seller are not on board and decide they want to bail.

    I do not get involved with a client's finances.  I just make sure they are prequalified to buy and aware of what is involved if they are selling.  Many do not realize they may have to pay penalties to get out of their mortgage early and many don't understand porting mortgages or bridge financing.

    Appraisals are not an issue here in Canada where I live.  We don't have to deal with short sales and very few bank sales.  Appraisers often call us to question certain comparable sales but they have most information at their fingertips.

    Building inspectors here are generally well qualified and knowledgeable and they try not to scare away the buyers but will point out any major deficiencies so that the buyer has all the facts to make an educated decision.

     

     

    Aug 08, 2010 09:54 AM
    Jim Little
    Ken Meade Realty - Sun City, AZ
    Your Sun City Arizona Realtor

    Lenn, it is a symbiotic relationship, and the appraisers, loan officers inspectors etc. really should encourage that. After all, they don't refer to me, I refer to them.

    I don't mind a correction of fact by an expert in a related field, but and agrumentative comment is uncalled for. If you don't agree with the basis of my post, write your own.

    Aug 08, 2010 11:21 AM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Jim L.

    "I don't mind a correction of fact by an expert in a related field, but and agrumentative comment is uncalled for. If you don't agree with the basis of my post, write your own."

    Thank you.  I often wonder why they don't.  The loooong nasty comments I got last week were from a member who has published NOTHING to his blog.

    Aug 08, 2010 10:49 PM
    John Cannata
    214-728-0449 http://TexasLoanGuy.com - Frisco, TX
    Texas Home Mortgage - Purchase or Refinance

    Lenn - Sorry that you take quite a bit of heat sometimes. You do tend to write about topics that are hot subjects and sometimes we (and I am speaking from a Mortgage Standpoint) feel that we need to make a comment about something that is not 100% accurate. I know I have addressed it in the past and do apologize if you were offended. For me, its never meant in such a manner. I'd like to believe thats the same with any/all members of AR. I've had my fair share of 'corrections' on my posts in the past. As long as someone is not nasty about it, I do not take it personal. We all want to be sure our information is correct when posting it for the world to see.

    I hope this week is much better for you (and for all of us).

    Aug 09, 2010 04:15 AM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    John.  Thanks very much for your thoughtful comment.

    What I've experienced is

    1.  Loan officers who berate and criticize personally as their comment.

    2.  Loan officers who use my posts as a springboard to expound on their vast experience and how agents shouldn't . . . . . . ..

    Neither helps to inform or help the consumer or specifically agents.  I rarely post to consumers because I'm not a loan officer, I'm a buyer's agent.  I do post articles that may help expand agents' choices and encourage them to seek the best LOAN for buyers and not have a kneejerk referral to a loan officer with whom the agent in comfortable.

    Aug 09, 2010 06:31 AM
    Caroline Gosselin
    Prominent Properties Sotheby's International Realty - Short Hills, NJ

    Well said lenn - that's the spirit!

    Aug 10, 2010 03:42 AM
    Lenn Harley
    Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
    Real Estate Broker - Virginia & Maryland

    Caroline.

    Thanks.  I appreciate your comment.

    Aug 10, 2010 04:02 AM