tag:blogger.com,1999:blog-15223784.post115326489785994118..comments2023-10-08T06:24:07.089-07:00Comments on Seattle Bubble: Real Estate Kickback Schemes Marches OnThe Timhttp://www.blogger.com/profile/14832570891451659976noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-15223784.post-1153349904131469802006-07-19T15:58:00.000-07:002006-07-19T15:58:00.000-07:00I have bought and sold FSBO. It is easy. As far as...I have bought and sold FSBO. It is easy. As far as I can tell agents and brokers don't add ANY value for an intelligent informed person, except for a seller who doesn't want to face a stream of buyers.whetherforecasthttps://www.blogger.com/profile/12061419022463486648noreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153349613755079592006-07-19T15:53:00.000-07:002006-07-19T15:53:00.000-07:00I have many stories of slimey behavior, from out a...I have many stories of slimey behavior, from out and out lying (e.g. no mention of known defects)to fraud (e.g. mortgage officer who whites out applicants' entries)to incompetence (e.g. a buyer's agent who doesn't add an inspection contigency) to market manipulation (e.g. steering buyers only to a specific broker's properties; leading sellers to reject an offer so selling agent can write one up where they are dual agent), etc., etc.<BR/><BR/>The industry is scum...regardless of the few people in it who try to be ethical.whetherforecasthttps://www.blogger.com/profile/12061419022463486648noreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153338742782180812006-07-19T12:52:00.000-07:002006-07-19T12:52:00.000-07:00People should know the cream of the crop, so let u...<I>People should know the cream of the crop, so let us know the name of he or she that helped you. That's the kind of person to highlight!</I><BR/><BR/>I only hesitated to do so because I'm not interested in seeing anonymous criticisms hurled their way when they haven't asked me to do anything for them (publicity-wise). <BR/><BR/>At any rate, two of the people I've worked with that I'd whole-heartedly recommend are <A HREF="http://www.connielindsay.com" REL="nofollow">Connie Lindsay</A> of Homestone Mortgage and <A HREF="http://cbbain.com/agentdetail.aspx?ic=419" REL="nofollow">Mike Herren</A> of CBBain. Neither has ever put me in what any type of position where I feel my interests are being compromised in favor of theirs.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153325124670836042006-07-19T09:05:00.000-07:002006-07-19T09:05:00.000-07:00Regarding S-crow (the other Tim) for being a profe...Regarding S-crow (the other Tim) for being a professional complainer-<BR/><BR/>No, I'm just transparent, something I think is a breath of fresh air in this industry.<BR/><BR/>And, I'm more of a professional illuminator, one who is heavily consumer driven and likes to call it like I see it in my industry, good, bad, and the absurd. Because I'm not in the sales end of things, I do think it helps to lend a bit more equilibrium (code for non-bias)to my commenting and hopefully reduce the professional attacks (we have already received a few choice ones) for participating in a blog that is bearish in tone regarding the market. Blasphemy for me to participate!<BR/><BR/>For example, I never thought I'd ever hear the end of it for posting Zillow's link on our website's homepage. Those nasty comments were subsequently meaningless when Coldwell Banker Bain and John L Scott started posting sold data, caving under Zillow's pressure.<BR/><BR/>So, my hope is to shed light on what goes right and wrong in the business so the consumer and more importantly, the Realtor that sleuths this blog can gain insight into what the consumer really thinks and why and adjust their practice accordingly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153322172546193122006-07-19T08:16:00.000-07:002006-07-19T08:16:00.000-07:00Jcricket -Thanks for the responses here and over a...Jcricket -<BR/><BR/>Thanks for the responses here and over at Rain City Guide.<BR/><BR/>There are tons of great resources to help consumers out in the market and our company works with some of the best. <BR/><BR/>People should know the cream of the crop, so let us know the name of he or she that helped you. That's the kind of person to highlight!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153321065742032412006-07-19T07:57:00.000-07:002006-07-19T07:57:00.000-07:00There's a thread on RainCity Guide about the "pres...There's a <A HREF="http://www.raincityguide.com/2006/07/17/you-have-to-wonder/" REL="nofollow">thread on RainCity Guide</A> about the "pressure" that buyer's agents use (i.e. "Go ahead and lower the buyer's commission, then I won't show that house to my clients") that keeps commission rates relatively locked at 6%. <BR/><BR/>I agree with the anon poster who said we need a different RE model. On the thread above I posted that I think sellers should negotiate and pay the listing agent either a flat or % fee, for whatever services they think they need. Buyer's should pay <B>their own</B> agent, choosing from a menu of services whatever they think they need. If you needed a full-service agent (on either side), I'm sure one will still be available. If all you need is someone to drive you to a house or two and write up a single offer, you could get that too.<BR/><BR/>No conflict of interests, good agents still get paid, and consumers have more choices. You could even create a system where people pay a small down payment to their agent and the rest on completion of a successful sale/purchase. This takes some risk out for agents and, IMHO, reduces one of the "reasons" commissions are high (agents take the risk that they'll spend 100s of hours and not get paid).<BR/><BR/>And the other anonymous poster is confusing Tim and s-crow with some of the comment board posters. There are plenty of swipes against "the entire industry" in the comment threads, but rarely in the original posts themselves.<BR/><BR/>And I think my wife would agree with Tim that if there was a "professional complainer" position open, I would be first in line :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153320507805205812006-07-19T07:48:00.000-07:002006-07-19T07:48:00.000-07:00I know this isn't really worth responding to, but ...I know this isn't really worth responding to, but sometimes I just can't help myself... <BR/> <BR/><I>Another swipe at the entire industry by the host, a professional complainer.</I> <BR/> <BR/>Golly, I <I>wish</I> I could be a professional complainer—getting paid to sit around writing pithy complaints on a blog. How sweet would that be? That said, it should be noted that this post was written by S Crow, not myself. As you may recall, S Crow owns his own escrow company, and is therefore <I>a part of</I> "the industry." Furthermore, his comments could hardly be construed as a "swipe at the entire industry" any more than reporting the news that some baseball players doped up would be "a swipe at all of baseball." <BR/> <BR/>Lastly, since you prefaced your comment with the word "another," I challenge you to provide examples of posts in which <B>I</B> have made "swipes" at "the entire industry." Until and unless you do so, I will have to characterize your comment as: <BR/> <BR/>Another unsubstantiated swipe at the blog host by an anonymous commenter, not even willing put their name behind their words.The Timhttps://www.blogger.com/profile/14832570891451659976noreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153289119662897822006-07-18T23:05:00.000-07:002006-07-18T23:05:00.000-07:00There are both ethical and unethical people in all...There are both ethical and unethical people in all industries. <BR/><BR/>Tue Jul 18, 10:30:04 PM PDT <BR/><BR/>True. To be fair, real estate industry ought to look at other pay structures where agents are paid on per/hour basis or fixed fee basis. Further, certification should be introduced, just like in the financial planning industry (CFP, CLA, etc.) The barrier of entry inot RE industry is much too low considering its size and financial impact.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153287004379969762006-07-18T22:30:00.000-07:002006-07-18T22:30:00.000-07:00"Another swipe at the entire industry by the host,..."Another swipe at the entire industry by the host, a professional complainer."<BR/><BR/>Try being a lawyer, I get this all the time despite the fact that I follow the rules of professional responsibitlity to a T. <BR/><BR/>There are both ethical and unethical people in all industries. BUT, only the bad ones get the press because good news doesn't sell papers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153285891664358512006-07-18T22:11:00.000-07:002006-07-18T22:11:00.000-07:00Another swipe at the entire industry by the host, ...Another swipe at the entire industry by the host, a professional complainer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153285607025652492006-07-18T22:06:00.000-07:002006-07-18T22:06:00.000-07:00s-crow - Everyone I've worked with in my RE transa...s-crow - Everyone I've worked with in my RE transactions have been ethical. My mortgage banker has gladly told me that her product was worse than one I found on the Internet through my bank, on two separate occasions, and continued to work with me subsequent times. She didn't black-ball me or make me feel bad when I found a better deal. <BR/><BR/>My RE agent has never talked up a property to me (beyond showing it) and specifically suggested I go below asking price and not escalate on a particular property. He was more than happy to let me walk away, even though we'd been looking for more than 3 months and it meant more work for him without a payoff. He's never made me feel like he was trying to sell me on anything, beyond helping me find a place that I liked, to the point where he doesn't even walk us around the property ooh-ing and aah-ing over home features. He just trails us and let's us do the talking/ask questions. And he's a "traditional full service agent" working for one of the larger RE companies in Seattle. <BR/><BR/>I consider both of these people totally ethical, and they're a large part of why I'm not swayed by the whole Web 2.0/FSBO idea.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153283919035981422006-07-18T21:38:00.000-07:002006-07-18T21:38:00.000-07:00Does anyone have any unique personal experiences g...Does anyone have any unique personal experiences good or bad they can share regarding ethical behavior in real estate.<BR/><BR/>ie, dialogue with Realtors in open houses, out working with agents, your own transaction perhaps etc..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153273512435016642006-07-18T18:45:00.000-07:002006-07-18T18:45:00.000-07:00RE biz ethical? You've got to be kidding. Everyone...RE biz ethical? You've got to be kidding. Everyone should do FSBO. Buyer works with lender for getting money and hires inspector. Escrow company takes care of title and closing. Why does anyone think it is complicated? The public has been sold a phoney bill of goods.whetherforecasthttps://www.blogger.com/profile/12061419022463486648noreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153271092704671572006-07-18T18:04:00.000-07:002006-07-18T18:04:00.000-07:00Agents would resist for varying reasons. Loss of ...Agents would resist for varying reasons. Loss of control for starters.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15223784.post-1153267285244105172006-07-18T17:01:00.000-07:002006-07-18T17:01:00.000-07:00This kind of thing just calls out for an Internet-...This kind of thing just calls out for an Internet-based solution. If there was a clearinghouse for title and escrow services, and some easy way to select which one you want when signing up with a lender, that would solve a lot of the hassle issue with shopping around in the current environment. <BR/><BR/>Seems like something that Yahoo or Bankrate.com could add to their "shop for a mortgage" service. I know the lenders might not like it, but consumers would.Anonymousnoreply@blogger.com