Danger! REALTOR® Ahead
April 17, 2005
If you don't know a REALTOR®, you don't have a lot of friends. In my area of the country, it is a raging seller's market. There are more agents than listings by a large factor. The local real estate association has nearly tripled membership in the last few years. It's a hot market and getting a piece of the action looks easy (getting a real estate license is quick and cheap). The result: there is an abundance of clueless people in this business that don't understand the business, are unprofessional and/or unethical. To highlight the point, The National Associations of REALTORS® (NAR) required all members complete an ethics course before the end of 2004. It's no wonder consumers are running away and fast...
Have you ever wondered what "cheap, full service realty" is all about? It's an oxymoron! Consumers are seeing how little work agents are doing and concluding that they are just as smart and can do it themselves. Many can and maybe should.
It appears many agents are over selling home values to secure a listing and then think an MLS listing, an open house and ad in the paper is all it takes and the buyers will come. And, we all know that open houses and print advertising is about getting more leads, not selling the house. Is our business really a commodity?
Here's a quote by Blanche Evans who is a noted columnist and writes for Realty Times: "With the real estate industry concentrating on liability instead of service, gradually dumbing down the actions that are necessary to warrant a license, more challenges are coming from brokers who want to provide as little service as an MLS-listing-only for the consumer, with no other support. Some new business models are providing advertising services with no need for licensure at all." Find the entire article "Why Commissions Are Falling" under our Real Estate, Favorites directory.
That's why we are taking a compromising approach: Our clients only pay for the services they need and they get experienced, superior, executive level services and representation. It's beginning to work as many of our clients want and need expert representation and a good understanding of what they really get for their money. We are an open book.
I had a cold call from a person a few weeks ago who asked about our SmartPlan programs. She simply wanted an MLS listing, yard sign, lock box and some fliers. I politely recommended that she seek out a firm that would provide only those services. They are all over the internet and for as little as $395. A little more if you want to talk to a genuine real estate agent by telephone. I explained that we would never give up our duty to any client to see a transaction to its successful conclusion. If it ever gets ugly, we will be named in the lawsuit as the listing agent regardless of any waiver or release of liability that a client might sign. We simply won't do business that way.
This is a relationship business. One built on trust by being competent and delivering on promises. I hope it stays that way.
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What if you do business with an unreliable, manipulative realtor? Connie Arega w/ long and foster claims to have 13 years of experience but is really condescending and untrustworthy. Any business with her is bad business.
