A Nasty "Gift"

By
Real Estate Agent with Keller Williams

One of the parting 'gifts' left behind by New Jersey now ex Governor Corzine was the long-disputed bill to allow the payment of rebates to buyers of residential properties.  While I was disappointed that Corzine never lived up to his potential as a strong governor ( partisan politics has nothing to do with it - I felt that someone who had earned his stripes in corporate management might have been able to get the mess we call State Governement more under control, but the record shows that he completely failed to do so), for him to depart with a bombshell like that sitting in his "out" basket was a real kick in the teeth to the real estate community.

People in the business work hard for their commissions.  We're already beset by clients who impose often-unreasonable demands and exhibit little or no loyalty to the agents who invest great amounts of time and effort to meet their needs.  Now, the state has put another weapon in their hands to be used to cut your income, by legitimatizing the previous illegal practice of expecting kickbacks for the pleasure of catering to their needs.

Seeing that the bill has been approved was bad enough, but things were made worse by the report that the NJ Association of Realtors "while adamantly opposed to the bill, did not lobby against it's approval."  According to NJAR, they felt that they lessened the detrimental effect of the bill by negotiating several amendments that "increased consumer protection."  I've read the bill in its original form and the amendments they claim made it better.  From what I can see, the only amendment that improved it was the one that restricted the kickbacks to buyers, as opposed to both sides of a transaction.  It is still harmful to everyone in our business.

 

 

Comments (5)

Stacie Wells
Grovetown, GA

What a nightmare!!! That's absolutely horrible. Just what is needed. Can you move to another state? :D

Jan 29, 2010 08:50 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Steve * Outgoing VA Governor Tim Kaine (now DNC chair) pardoned a German citizen who has been in VA prison for 20+ years for the grizzly murders of his GF's parents near Bedford, VA.  In Germany he will get out in 2 years.  His GF will be in prison for the rest of her life!

http://www2.timesdispatch.com/rtd/News/local/crime/article/JENS16_20100115-222604/317996/#comment_form

Jan 29, 2010 10:00 AM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.

Jan 31, 2010 06:56 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

 

ActiveRain is the largest online real estate community. It's a great place to network with some of the top real estate agents, learn, and share information about homes for sale.

If you would like a few tips on getting the most out of ActiveRain, simply follow these steps:

1. At the very bottom of this comment click "Omaha Real Estate & Omaha Homes for Sale - The Trumm Team (Keller Williams Realty)" which will take you to my profile.

2. Click My Blog

3. On the right hand side under Links, click "Welcome to ActiveRain"

This will take you to my blog of how to get the most out of ActiveRain.

If you ever have any questions, just let me know.

Feb 05, 2010 10:56 AM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to Active Rain and congratulations on your first post.  It looks like you're off to a great start.  We hope you enjoy A/R as much as we do.  There are many opportunities to share your knowledge and learn from others. Take care, Yvette & Dennis

Feb 06, 2010 12:56 PM