Loosey Goosey is not a great Business Plan

By
Real Estate Broker/Owner with Pareto Realty TN #251071

When the real estate market heats up, some folks seem to forget their scruples.

Here in Nashville, the housing inventory is TIGHT . . . That is, there are more Buyers than houses to buy in most all areas of our market.

While this bodes well for anyone contemplating selling a house, the real challenge has become: “What then? Where will I move?”

Most every REALTOR you encounter will tell many twisted, elaborate, and hard to believe stories about their experiences with clients who just want to BUY a house.

For sure, it can be exasperating to show multiple houses and write multiple offers knowing that each and every one is likely to be one of several offers on the table for the Seller to consider.

Some seem to be willing to compromise legal and ethical standards under the “protection” of “Desperate times call for desperate measures.”

For sure, the gold is virtually ANY house available for sale at a reasonable price (Yes, it IS possible to overprice a house even in this market), and the competition is fierce.

Here in Middle Tennessee, our REALTOR Associations have great pride in the fact that the number of Ethical complaints from REALTORS and the general public have Historically been WAY lower than most areas of the country . . . but these complaints are on the rise as more and more REALTORS are starting to slip into Loosey Goosey practices in an attempt to gain the competitive advantage either for securing a listing in a coveted area of town or winning a property for a Buyer client.

This is an unpleasant by-product of a tight market, and that’s NO excuse for bad behavior.

The “Enforcement Authorities” (TN Real Estate Commission and the Associations of REALTORS) do not have the resources to Police the actions of the Real Estate Sales Professionals, so they rely on the general public and the real estate practitioners to report “alleged misbehavior.” The Real Estate Commission is there to enforce State Statute (Law) to protect the general public . . . and the local associations enforce the REALTOR Code of ethics (and mediate/arbitrate compensation disputes.

So . . . if walks like a duck and talks like a duck, it’s probably a duck . . . and if it smells like a rat, it’s probably a rat . . . so . . . I have a very low tolerance for “Professionals” crossing legal and ethical boundaries for personal gain and for winning for their clients.

The Majority of REALTORS out there are doing things right and proper. Let’s not allow the minute minority of those who digress define all of us in the eyes of the General Public.

If you sense an infraction – At a minimum, consult with a Principal Real Estate Broker FIRST and if deemed viable, take the time to file an official complaint.

Let’s keep it safe and clean out there in the real estate sales world.

About 

Residential Real Estate Principal Broker and Founder of Pareto Realty, LLC. Creating the quintessential real estate firm with emphasis on "Live, Work, & Play" balance . . . and a true Performance Oriented environment for Real Estate Professionals. Serving the Real estate needs of Home Buyers and Sellers in Middle Tennessee.

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

Twitter

Facebook

Linkedin

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Tennessee Davidson County Nashville
Groups:
Realtors®
Posts to Localism
Keller Williams Active Rain Bloggers
Dedicated Bloggers
Tennessee Realtors - Join Hands
Tags:
ethicsandprofessionalism

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Sad but true, many people find any excuse for bad behavior.  Very well written post Barry.

Mar 29, 2016 09:09 PM #1
Rainmaker
673,112
Peter Mohylsky, The Beach is closed but I am open.
PrimeSouth Properties - Santa Rosa Beach, FL
I AM STILL OPEN FOR BUSINESS ALONG THE BEACH

Good post but it would be interesting  to see examples of sub standard behavior.

Mar 29, 2016 09:30 PM #2
Rainmaker
1,295,526
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good morning Barry,

And so many complain they have to take the "ETHIC's" course to keep it in the back of their mind and it seems as soon as they are out the door they are flying by the seat of their pants.

Make yourself an astonishing day.

Mar 29, 2016 09:41 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
939,593

Barry Owen

Tell me your story . . .
*
*
*
*
Spam prevention

Additional Information