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20/20 Special

By
Real Estate Agent with Keller Williams Metropolitan

Here we go again.

Looks like we should be watch 20/20 this Friday at 10 P.M. EDT.  John Stossel is doing a report on if your realtor is ripping you off!  Here is a snippet from an e-mail I get from ABC News...

"Is your Realtor agent ripping you off? I interview economist Steven Levitt and writer Stephen Dubner, the authors of best-selling book "Freakonomics." We go over some of the tricks and tips in the real estate market and learn how nice words like "charming" in real estate listings really mean low quality. And whose house sells for more -- a Realtor's own house, or yours? "

Has anyone read that book?

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Comments(13)

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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552
I hate to hear about John Stossel doing an anti-Realtor(R) episode.  I normally admire his myth-busting work, and I really want to like him...
Jun 21, 2007 12:05 PM
Laurie Mindnich
Centennial, CO

Consumers like him, so pay attention to the "deficits" that he presents, and strive to fix them.

Jun 21, 2007 12:08 PM
Dan Dowling
Dan Dowling - United Mortgage Capital Corp. - Altamonte Springs, FL

Yep, I've read the book. It's actually well written. I think as a real estate agent you have to turn this into a positive. If your closing percentage or sell price/list price ratio is better than most, you should let your clients know. If not, shame on you.

There was a magazine, I think Smart Money, that did a "10 Things Your Real Estate Agent Won't Tell You" article. It didn't shake the world off it's axis. They've done exposes on mortgage brokers, insurance agents, doctors, lawyers, and even children's daycares.

The key is to design your business around it and become the "antidote" to what scares folks about your industry.

For instance in the mortgage business, I give my clients a 100% Guaranteed Good Faith Estimate" And I guarantee it to the penney. It makes you stand out.

All the best,

Dan Dowling

P.S. Don't feel bad, there are people who give every industry a bad name. Just make sure you're not one of those people and this too shall pass.

 

Jun 21, 2007 12:12 PM
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale
Hmm. Looks like I may have to watch that episode. Or record it. Thanks for bringing it to my attention.
Jun 21, 2007 12:13 PM
Ray Perry
CENTURY 21 The Neil Company Real Estate - Roseburg, OR
Realtor, CRS, GRI, e-PRO
Let's face it.  Not all Realtors live up to their own code of ethics.  I see this all the time, I'm on our local ethics committee.  Hopefully these unethical Realtors will be weeded out!
Jun 21, 2007 12:19 PM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County
I will be watching. I am sure there will be examples that show the real estate profession in a negative way. This is what people want to watch and, sadly, it will then be what they believe! Only through professional Realtors doing the job the way it should be done will the image ever change.
Jun 21, 2007 12:38 PM
Highland Beach Condos David Serle
RE/MAX Services - Highland Beach, FL
Boca Raton Agent David Serle
I read the book, and actually liked it.  I will tune in.
Jun 21, 2007 12:52 PM
Keith Lutz
Keller Williams Metropolitan - Long Valley, NJ

Brian,

 I am with you, I love his stuff.  Maybe it won't be too bad!

Dan & David,

That book will be on my must read!  Dan I like the positive approach!

Gary,

I agree people are people.  Especially in industries that police themselves!

 

Jun 21, 2007 01:12 PM
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate
I don't think I'll watch this one.  I'm sure there will be plenty of talk here this weekend to fill me in on what I'm missing.  But thanks for letting us know about it.
Jun 21, 2007 01:12 PM
Tom Engelhardt
First Choice Mortgage - Ocala, FL
Tag, the realtors are it this week. They're going to take a week off of the mortgage brokers and bash you guys this week. It will pass, but to some you'll be the used car salesman for a while. 
Jun 21, 2007 01:26 PM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
I have always really liked John Stossel so will be watching.  I hate it when we are put in a bad light but we have some Realtors out there that do make us look bad.  The best thing we can do is the best job we can do!!
Jun 21, 2007 01:27 PM
Edith Wharton
Cottage and Loft Realty - Midlothian, VA
Realtor - Chesterfield VA
They must be bored. No good news today guys, so let's make some up ! Hah!
Jun 21, 2007 03:06 PM
Pam Hofmann
Third Tennessee Realty & Associates, LLC - Crossville, TN
Your Crossville, Lake Tansi & Fairfield Glade Specialist
I'll be watching on Friday, John sometimes goes off the deep end. Let's see how it goes, Pam
Jun 21, 2007 03:09 PM