Comments on: Perhaps a buyer’s perspective… http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: WEB 2.0 vs. WEB 1.5 and Blogwars | Rain City Guide | A Seattle Real Estate Blog... http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-270416 WEB 2.0 vs. WEB 1.5 and Blogwars | Rain City Guide | A Seattle Real Estate Blog... Sun, 24 Feb 2008 20:06:33 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-270416 [...] Of course that’s my definition and how I understand it. Perhaps a Buyer’s Perspective is likely the best example of WEB 2.0 as far as the real estate industry is concerned, available on the internet today. ALL of the lesson learned is learned by the agents, and not the potential buyer of real estate. The potential buyer of real estate is the one doing the teaching, not the agent. [...] [...] Of course that’s my definition and how I understand it. Perhaps a Buyer’s Perspective is likely the best example of WEB 2.0 as far as the real estate industry is concerned, available on the internet today. ALL of the lesson learned is learned by the agents, and not the potential buyer of real estate. The potential buyer of real estate is the one doing the teaching, not the agent. [...]

]]> By: From a buyer’s perspective: We need you (real estate agents) to be better. « Sunny Spot Realty http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-23544 From a buyer’s perspective: We need you (real estate agents) to be better. « Sunny Spot Realty Sun, 22 Oct 2006 01:39:37 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-23544 [...] Click here for the entire letter and post at Seattle’s Rain City Real Estate Guide [...] [...] Click here for the entire letter and post at Seattle’s Rain City Real Estate Guide [...]

]]> By: Seattle’s Rain City Real Estate Guide » Should You Pay More For THIS House? http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-16806 Seattle’s Rain City Real Estate Guide » Should You Pay More For THIS House? Fri, 08 Sep 2006 17:29:52 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-16806 [...] The photo above is in reference to “our Polly” who had the best question in the month of August.  Before responding to a counter offer from the seller she asked, “What is the likelihood that you could find us a similar home within the next 60 days?”  I was knocked out by this fabulous question!  If only two of those have sold in the last year, then the liklihood is slim to none.  If 40 of them have sold in the last six months, then you can play hardball with the seller.  Excellent question to ask while in the middle of negotiations. [...] [...] The photo above is in reference to “our Polly” who had the best question in the month of August.  Before responding to a counter offer from the seller she asked, “What is the likelihood that you could find us a similar home within the next 60 days?”  I was knocked out by this fabulous question!  If only two of those have sold in the last year, then the liklihood is slim to none.  If 40 of them have sold in the last six months, then you can play hardball with the seller.  Excellent question to ask while in the middle of negotiations. [...]

]]> By: Jessie B http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13698 Jessie B Sat, 26 Aug 2006 02:34:23 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13698 Southern California. Southern California.

]]> By: ARDELL http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13693 ARDELL Sat, 26 Aug 2006 02:21:37 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13693 What part of California? What part of California?

]]> By: Jessie B http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13690 Jessie B Sat, 26 Aug 2006 02:09:35 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13690 First, that's not what I stated, I said: Any real “professional” involved in the transaction will exercise the same care and watchful eye looking for obvious inconsistencies as you pointed out for their client. So it’s important that everyone works together to focus on delivering the best most professional service possible to clients I'm not being anonymous; I'm the same Jessie B as #11. I'm a lender with a real estate license for the last 16 years in California. I did read Polly's comments and this stood out for me. "each of you builds the reputation for your industry - each of you contributes to the benchmark by which agents are measured in the public eye. To the extent that, through your own behavior, you fail to gain the trust of the public" So, when new agents with 60 hours of book study all of a sudden believe that they are automatically deemed "professionals" and they make statements to try and impose this new found knowledge (of what they think they know), status and perceived power onto others in the business and their clients (often time who know lot more than them)... then they tend to harm the industry as a whole. This is also the same with new loan officers so I'm not necessarily taken sides. I also believe Russ pointed this out in his statement of being a "baby lawyer". This is why we need to increase the requirements for licensing of all service parties (lenders included) so that we can increase the level of professionalism across the board so that we can regain the trust of the public as Polly indicated. First, that’s not what I stated, I said:

Any real “professional” involved in the transaction will exercise the same care and watchful eye looking for obvious inconsistencies as you pointed out for their client. So it’s important that everyone works together to focus on delivering the best most professional service possible to clients

I’m not being anonymous; I’m the same Jessie B as #11. I’m a lender with a real estate license for the last 16 years in California.

I did read Polly’s comments and this stood out for me.

“each of you builds the reputation for your industry – each of you contributes to the benchmark by which agents are measured in the public eye. To the extent that, through your own behavior, you fail to gain the trust of the public”

So, when new agents with 60 hours of book study all of a sudden believe that they are automatically deemed “professionals” and they make statements to try and impose this new found knowledge (of what they think they know), status and perceived power onto others in the business and their clients (often time who know lot more than them)… then they tend to harm the industry as a whole. This is also the same with new loan officers so I’m not necessarily taken sides.

I also believe Russ pointed this out in his statement of being a “baby lawyer”.

This is why we need to increase the requirements for licensing of all service parties (lenders included) so that we can increase the level of professionalism across the board so that we can regain the trust of the public as Polly indicated.

]]> By: ARDELL http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13656 ARDELL Fri, 25 Aug 2006 23:21:05 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13656 Jessie B. You can be anonymous, but please tell us if you are a real estate agent, and if so, where? If you are a lender or closing agent, your comments make more sense than if you are an agent somewhere in the country. Jessie B.

You can be anonymous, but please tell us if you are a real estate agent, and if so, where? If you are a lender or closing agent, your comments make more sense than if you are an agent somewhere in the country.

]]> By: ARDELL http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13654 ARDELL Fri, 25 Aug 2006 23:17:53 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13654 Jessie, Being "the one" who represents all can be as simple as bringing in someone tried and tested to represent as you would have them do. Or the consumer choosing what is best for them, and your agreeing with a simple check. You are the boss. The boss doesn't have to be arrogant, but he does have to be the boss. Go back and read Polly again, the consumer needs, wants, and the law states, that the agent be cognizant and "in charge of" all of the pieces to the puzzle. "Closing the Deal" is not good enough, and a throwback to when the buyer's role in the transaction was to consummate. Jessie,

Being “the one” who represents all can be as simple as bringing in someone tried and tested to represent as you would have them do. Or the consumer choosing what is best for them, and your agreeing with a simple check.

You are the boss. The boss doesn’t have to be arrogant, but he does have to be the boss.

Go back and read Polly again, the consumer needs, wants, and the law states, that the agent be cognizant and “in charge of” all of the pieces to the puzzle.

“Closing the Deal” is not good enough, and a throwback to when the buyer’s role in the transaction was to consummate.

]]> By: Jessie B http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13645 Jessie B Fri, 25 Aug 2006 22:51:41 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13645 Ardell I understand that you are making your point from a legal definition of "fiduciary" but what I was addressing is the reality of how people feel and act when involved in a real estate transaction. Things are never that clear cut and simple. For example: Most mortgage brokers in CA must have the same real estate license as an agent. Now you have two parties that can have the same responsibility according to their licensing. So who really "represents" the client? My guess, they party who initiated the transaction with the client. My point, which was contrary to your statement, was that real estate agents are not the only ones who can look out for the clients best interest... regardless of licensing. This egotistical attitude that many real estate agents have about being the most important (required) part of the transaction just because they are an "agent" and licensed is a problem because it displays a lack of respect for other professionals and customers. Agents are not the "only" ones that can help a transaction go smoothly... it's the work and cooperation of everyone including the clients. Any real "professional" involved in the transaction will exercise the same care and watchful eye looking for obvious inconsistencies as you pointed out for their client. So it's important that everyone works together to focus on delivering the best most professional service possible to clients instead of worrying about who is most important in the deal. Only then, will the general publics opinion of the real estate profession be improved. Ardell

I understand that you are making your point from a legal definition of “fiduciary” but what I was addressing is the reality of how people feel and act when involved in a real estate transaction. Things are never that clear cut and simple.

For example: Most mortgage brokers in CA must have the same real estate license as an agent. Now you have two parties that can have the same responsibility according to their licensing. So who really “represents” the client? My guess, they party who initiated the transaction with the client.

My point, which was contrary to your statement, was that real estate agents are not the only ones who can look out for the clients best interest… regardless of licensing. This egotistical attitude that many real estate agents have about being the most important (required) part of the transaction just because they are an “agent” and licensed is a problem because it displays a lack of respect for other professionals and customers. Agents are not the “only” ones that can help a transaction go smoothly… it’s the work and cooperation of everyone including the clients.

Any real “professional” involved in the transaction will exercise the same care and watchful eye looking for obvious inconsistencies as you pointed out for their client. So it’s important that everyone works together to focus on delivering the best most professional service possible to clients instead of worrying about who is most important in the deal. Only then, will the general publics opinion of the real estate profession be improved.

]]> By: ARDELL http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13446 ARDELL Fri, 25 Aug 2006 03:52:46 +0000 http://raincityguide.com/2006/08/21/perhaps-a-buyer%e2%80%99s-perspective/#comment-13446 Jessie B. Don't know if you are an agent, and if you are, what state you are in, but unless you are an agent in Oklahoma, you are dead wrong on most counts. Our state law says that a license "represents" the buyer, not the lender, not the inspector, not anyone else. And since we represent the buyer with regard to the entire transaction, not just to "sell them a house", we are responsible to assist in all facets of the transaction. Oklahoma has no agency, it was outlawed there. Florida has no Dual Agency, it was outlawed there. Some states have Transaction Brokerage as an option. But our state requires all licensees to "represent" the buyer. Jessie B. Don’t know if you are an agent, and if you are, what state you are in, but unless you are an agent in Oklahoma, you are dead wrong on most counts. Our state law says that a license “represents” the buyer, not the lender, not the inspector, not anyone else. And since we represent the buyer with regard to the entire transaction, not just to “sell them a house”, we are responsible to assist in all facets of the transaction.

Oklahoma has no agency, it was outlawed there. Florida has no Dual Agency, it was outlawed there. Some states have Transaction Brokerage as an option. But our state requires all licensees to “represent” the buyer.

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