agents: NY Changes Dual Agency Law
- 12/26/08 02:48 AM
If you have read my blog before, you will know that I really dislike dual agency. An agent is supposed to be an advocate for their cleint, getting them the best deal possible. When they have dual loyalty, it is impossible to negotiate the "best" deal. Yes, you can facilitate (or go down the middle) but not is not a description of an agent. In some states, they have allowed agents this role but again, is this really in the client's interest or is it just another way that the industry is protecting their own? This is especially difficult for large … (2 comments)
agents: Here's another way that you can get sued.
- 11/21/08 01:01 PM
There was a recent case in Texas, that all agents should consider. It had to do with a seller's misrepresentation of sq. footage. Before you say, what does that have to do with the agent?, let me explain. First of all, if you were being examined on the stand by an opposing attorney, who said something like "Isn't it true that house tend to grow over the years? and "haven't you seen listings where the Seller and Listing agent have exaggerated the size of the house?" If you answer yes, the attorney would then ask, ....then, since you know this, did … (2 comments)
If you have read my blog or resume on my home page, you know that I am frequently hired by attorneys when agents are being sued. Sometimes, I am there to defend them, and too often, I am there to help sue them. I do not hold agents to a standard of perfection. Anyone can monday morning quaterback and look back on what could have been done in retrospect. No, I simply try to determine what a competent agent would have done in the situation. Most agents don't get sued for what they did but what they didn't … (6 comments)
agents: Do you think agents should also be the lender??? NOT!
- 06/05/08 08:40 AM
I know there is a big push for agents to also do their own loans with the argument, ............Why give someone else the loan commission, when it is your client. This argument is illogical. Why don't you do your own roof inspections. Or what about Pest Control repairs? To do either job takes time, experience and a certain amount of people skills. If you try to split these duties, you will never become good enough at either to be an A player. I know 1000's of agents, many of them top producers. NONE, let me repeat, NONE of them do their … (6 comments)
agents: Let's start taking our profession seriously
- 05/30/08 06:17 AM
I am always amazed that any time we attend a gathering of agents, someone invariably uses the word, "professional." I know that in may ways, our industry lacks professionalism but let's stop a minute and take a closer look at the people that most of our customers consider professional. Most are white collar including doctors, lawyers, dentists, tax people, etc. But, some are also blue color such as car mechanics, hair sylists and others. What is it about them that makes us want to use them and return to use them again and again. It is their skill and expertise. Most … (3 comments)
agents: Who says that Farming doesn't work??
- 05/10/08 01:39 PM
I know that some of the national trainers in real estate tell agents that farming is a waste of time. I can tell you as an ex manager at Coldwell banker that I had 2 agents who made over $500K per year ..farming. But, I guess it was a waster of time. The problem is that agents don't get it enough effort or enough time. Once of the simple things you can do is start with what I call your personal farm. And , before you say you don't have enough names, consider the following to be added to your list … (4 comments)
agents: Who says this is a bad market
- 05/10/08 12:48 PM
I can't understand the media who contiually puts our negative comments about the market. Yes, it is different but why does that make it bad. Living in Northern California in the heart of Silicon Valley, I wonder where the rescission is. My wife and I went out to dinner last monday night and had to wait for a table. This is a wonderful time to buy. I just wish I was in the market right now. Prices have softened (slightly), rates are low and sellers are open to better offers (e.g. making some repairs, etc) What more could a buyer ask … (7 comments)
agents: Buyers should attend all inspections
- 05/09/08 07:53 AM
In one of my recent blogs, I talked about inspections. One comment asked me if agents should attend the inspection. The answer is yes. First, when the report comes out, you can understand what the inspector is saying. Also, it is quite common for Inspectors to say one thing at the house and another on their report. One reason for this is they frequently have pre-written clauses in their computer programs. But, I also think that the clients should be there. Instead of the buyer and seller relying on their agent's interpreting what the inspector did and didn't say, it is … (4 comments)
Guy Berry is a frequent expert witness in real estate litigation and an accomplished trainer in real estate law and contracts. In addition he has been licensed for 30 years as an agent and managed large offices, including Coldwell Banker and Century 21.
If you have read my blog before, you will know that I really dislike dual agency. An agent is supposed to be an advocate for their cleint, getting them the best deal possible. When they have dual loyalty, it is impossible to negotiate the "best" deal. Yes, you can facilitate (or go down the middle) but not is not a description of an agent. In some states, they have allowed agents this role but again, is this really in the client's interest or is it just another way that the industry is protecting their own? This is especially difficult for large … (2 comments)
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