Real Estate and the process by which ownership is transferred are always
changing. Some changes are welcome in terms of how they benefit individuals in the process of making transactions and others are not. Many forces are coming together to effect change in the real estate marketplace. For example a recent enter of Zillow.com has caused a lot of fear in to the Real estate industry, who is running scared the real estate agent or broker?
What is the difference, and ultimately the home buyers and sellers will win.
Consumers always come first in my book!
In a general sense the system of Real estate agents and Multiple Listing
Services or “MLS’s” in the United States have created a relatively stable and liquid market. This supports the buying and selling of Real Estate, which is a
very complicated process. In the internet age, and in a time of rapid value
increases, the realtors and MLS’s are having to re-adjust.
Any market needs stability in order that the buyers and sellers have an
expectation of value when engaging or contemplating engaging a transaction
especially a complicated transaction such as real estate where land and homes come together. We will undoubtedly see many challenges to property
value evaluations across the U.S. in markets where values have changed
dramatically. St a national and local level, we should look carefully when
considering radical changes to a system that has worked well considering the
volume of transactions and the changes in marketplace.
I am sure an Economic professor at a prestigious University can find statistical significant variances in the pricing that Real Estate agents sell their own properties at and those of there clients and this is worthy of review. And Business week had an article on that subject just a few years ago. While the survey found that real estate agents sell there homes for more, they even listed their homes through MLS and paid commissions to buyers agents, why? Because the system is very large pool of buyers and by most accounts properly supports the participant’s interests. And allows them the options to make their own decisions about how they wish to engage a real estate agent, it all comes down to supply and demand. And currently, the legal rules and regulations protect all parties, as real property laws need to.
Having been involved as a Real Estate, after being involved as a home buyer,
and as a high tech executive, in transactions representing both parties,
the home buyers and sellers, has allowed us to come to understand the
affect an experienced third party can have in situations. The value of the
real estate agent is significant where emotions and personal issues can play
significant roles in the completion of a transaction, which all parties
wish to complete. The real estate agent in many cases uses experienced
gained in many transactions to overcome objections, emotional issues and
personalities that would easily end many sales. Two properly trained real
estate agents knowing the rules, laws, and focusing on the intent of their clients can and does make a huge difference. The actions result in the best interest of their clients to achieve as much of a win-win situation as possible and still get the job done. This assumes that the real estate agent knows the rules and real estate laws as they should. And by completely Understanding the ramifications of the contract and how it is written interpreted, utilizes significant expertise.
Without real estate agents, the public would be left to use real estate
attorneys, and we know what people think of that industry. It’s no wonder
the real estate industry, has a bad name, we also have to watch our sales
nature. That then comes to the rules of contractual engagement i.e. Seattle
Northwest MLS’s Form 21, and other forms like that have evolved and continue to evolve to create a place where two parties can meet and complete a complicated transaction economically. Standardizing contracts, while respecting the wishes of both parties without the legal cost of writing up a new contract every time a real estate property is sold. It’s not only the money, but think of how slow the process would be to buy a home or sell a home, without standard tipb, and common language? Ouch, it hurts my head
thinking about it, did I tell you before real estate, I had 3 A’s in law
classes, and I come from a long line of lawyers. That is one profession, we
have to appreciate and avoid as often as we can!
There are many advantages to the current real estate buying and selling
systems, next time we will continue to review the process its advantages
perceived disadvantages, the outside pressures that wish to change its
structure. Competition is good, always good to allow for the changes in the
market place.
But will the real estate landscape change enough to allow the dismantling of
the Realtor or Agent laws to help people or will the same thing that
happened to people in the discount brokerages that they lost a ton of
money? From my biased point of view, I hope that people don’t stop
listening to real estate agents, as most of them really do care for the
clients and add significant value, without them, I think the average home
buyer or seller would loose a lot of money!
Sent from my Blackberry wireless handheld.
Real Estate and the process by which ownership is transferred are always
changing. Some changes are welcome in terms of how they benefit individuals in the process of making transactions and others are not. Many forces are coming together to effect change in the real estate marketplace. For example a recent enter of Zillow.com has caused a lot of fear in to the Real estate industry, who is running scared the real estate agent or broker?
What is the difference, and ultimately the home buyers and sellers will win.
Consumers always come first in my book!
In a general sense the system of Real estate agents and Multiple Listing
Services or “MLS’s” in the United States have created a relatively stable and liquid market. This supports the buying and selling of Real Estate, which is a
very complicated process. In the internet age, and in a time of rapid value
increases, the realtors and MLS’s are having to re-adjust.
Any market needs stability in order that the buyers and sellers have an
expectation of value when engaging or contemplating engaging a transaction
especially a complicated transaction such as real estate where land and homes come together. We will undoubtedly see many challenges to property
value evaluations across the U.S. in markets where values have changed
dramatically. St a national and local level, we should look carefully when
considering radical changes to a system that has worked well considering the
volume of transactions and the changes in marketplace.
I am sure an Economic professor at a prestigious University can find statistical significant variances in the pricing that Real Estate agents sell their own properties at and those of there clients and this is worthy of review. And Business week had an article on that subject just a few years ago. While the survey found that real estate agents sell there homes for more, they even listed their homes through MLS and paid commissions to buyers agents, why? Because the system is very large pool of buyers and by most accounts properly supports the participant’s interests. And allows them the options to make their own decisions about how they wish to engage a real estate agent, it all comes down to supply and demand. And currently, the legal rules and regulations protect all parties, as real property laws need to.
Having been involved as a Real Estate, after being involved as a home buyer,
and as a high tech executive, in transactions representing both parties,
the home buyers and sellers, has allowed us to come to understand the
affect an experienced third party can have in situations. The value of the
real estate agent is significant where emotions and personal issues can play
significant roles in the completion of a transaction, which all parties
wish to complete. The real estate agent in many cases uses experienced
gained in many transactions to overcome objections, emotional issues and
personalities that would easily end many sales. Two properly trained real
estate agents knowing the rules, laws, and focusing on the intent of their clients can and does make a huge difference. The actions result in the best interest of their clients to achieve as much of a win-win situation as possible and still get the job done. This assumes that the real estate agent knows the rules and real estate laws as they should. And by completely Understanding the ramifications of the contract and how it is written interpreted, utilizes significant expertise.
Without real estate agents, the public would be left to use real estate
attorneys, and we know what people think of that industry. It’s no wonder
the real estate industry, has a bad name, we also have to watch our sales
nature. That then comes to the rules of contractual engagement i.e. Seattle
Northwest MLS’s Form 21, and other forms like that have evolved and continue to evolve to create a place where two parties can meet and complete a complicated transaction economically. Standardizing contracts, while respecting the wishes of both parties without the legal cost of writing up a new contract every time a real estate property is sold. It’s not only the money, but think of how slow the process would be to buy a home or sell a home, without standard tipb, and common language? Ouch, it hurts my head
thinking about it, did I tell you before real estate, I had 3 A’s in law
classes, and I come from a long line of lawyers. That is one profession, we
have to appreciate and avoid as often as we can!
There are many advantages to the current real estate buying and selling
systems, next time we will continue to review the process its advantages
perceived disadvantages, the outside pressures that wish to change its
structure. Competition is good, always good to allow for the changes in the
market place.
But will the real estate landscape change enough to allow the dismantling of
the Realtor or Agent laws to help people or will the same thing that
happened to people in the discount brokerages that they lost a ton of
money? From my biased point of view, I hope that people don’t stop
listening to real estate agents, as most of them really do care for the
clients and add significant value, without them, I think the average home
buyer or seller would loose a lot of money!
Sent from my Blackberry wireless handheld.
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