I’ve been a bit quiet on BHB due to some personal issues I’ve been working through. But, I was very happy to see Greg’s latest post on challenging everything! I had a little holiday brainstorm today and wrote a post on my local Lake Chelan blog on a Real Estate Declaration of Independence for the consumers of services from Real Estate Professionals.
I want to share it here on BHB and get your thoughts on what I missed, should add or could have said better! So, without further ado here is my Independence Week start to the Real Estate Declaration of Independence:
Real Estate Declaration of Independence
We, the people who buy and sell real estate, hold these truths to be obvious:
- We the people believe that information on real estate for sale should be readily accessible without surrendering our private information. We reject having to register on a web site in order to view listings in an area. We value our time and will contact a real estate professional when we are good and ready for their services.
- We the people reject all policies of the National Association of Realtors that are not in the best interest of the real estate buying and selling public. Limiting our access to information, restricting our ability to a free and open market through regulation and limiting our market choices are all examples of policies we reject that are designed to line Realtors pockets at the expense of the public.
- We the people reject “Dual Agency,” where a real estate agent has an inherent conflict of interest with his agency and fiduciary duties by attempting to represent both the buyer and seller in order to earn a larger commission on our transaction. If the agent is truly delivering value, both parties of a transaction have an equal right to that value without a conflict of interest and each party deserves their own agent in the transaction.
- We the people reject the practice of real estate agents trying to “Buy the Listing” by telling a potential seller an above market price in an attempt to secure a listing. This practice costs sellers time and money while their home sits on the market as the agent waits for the seller to cut the price to where it should have been to start.
- We the people reject the practice of real estate MLS systems that limit a home seller’s exposure to potential buyers in an attempt to control access to a market. A listing agent’s responsibility is to market a property to the best of their ability and limiting the exposure of our home costs us money.
We the people are independent in a country that still allows us to make market choices. We the people demand better service and will exercise our freedom of choice and only choose Real Estate Professionals who deliver better value.
You might want to have a look at the entire post and give me feedback on it as well. Feel free to use it as your own if you agree to it and I would truly love suggestions to improve it.
Chris Johnson says:
Raise the bar, my friend.
June 29, 2010 — 4:37 pm
Greg Swann says:
Beautiful… I’m in. Thanks!
June 29, 2010 — 5:25 pm
Greg Swann says:
> I’m in. Thanks!
Done. We do well by doing good. In consequence, good behavior is good marketing. I’m in your debt, Al.
June 30, 2010 — 10:39 am
Bob jenkins says:
I’ll meditate on your declaration against dual agency. My initial reaction is that this rejection is off the mark. As a listing agent, am I to disenfranchise myself as a selling agent? Who else is more motivated to bring a willing buyer to the property? Am I to hide excellent properties from my best buyers? But, I’ll twist the idea around for a few days.
June 30, 2010 — 4:19 pm
Brad Notter says:
Good for you! I think I need to draft one of these for my industry.
June 30, 2010 — 4:59 pm
Al Lorenz says:
@ Chris, yes, that is a low bar if that is all that one does. It is however a good start for someone looking for a real estate agent to consider. That was what I was trying to accomplish.
@Greg, Thanks! The “New Clients” on my IDX tracking tripled yesterday from new folks this brought to search for local properties from my site. That was also a goal, to bring more folks to my search site. Thanks as always!
@Bob, Yes, you should not do dual agency. You should absolutely show your client’s properties if someone wants to see them, and then refer them to another trusted agent or three if they want to write something up. You should show buyers every great property out there! If they want to write up one of yours, again, refer them to someone without a conflict to write it up. You can’t possibly negotiate in both the buyer’s and seller’s best interests.
July 1, 2010 — 10:24 am