Once upon a time in Real Estate

By
Real Estate Agent with Florida List For Less Realty, Inc.

Once upon a time in Real Estate you were able to contact your fellow Realtor and start negotiating on a home that maybe of interest to your buyer. Normally, the other Realtor would gladly assist you, after all you had two things in common.

1- To help your buyer or seller.

2- To collect a commission once the transaction closed.

Today, it`s almost impossible to locate your fellow Realtor, when you do, they sometimes forget what home you`re asking about, forget about negotiating, and the general attitude towards one another seems distant.  

Once upon a time in Real Estate a Realtor  would call for showing instructions get all the information required on the MLS and then make an appointment to bring their client to the listing.

Today, the Realtor feels that knocking on a door is sufficient and asking "How Much is this Home" with clients in tow is acceptable.  

Once upon a time in Real Estate a new agent understood that Sweat Equity was part of the learning curve, you were actually required to work, and in return your mentor taught you the business.

Today, a new agent comes into this business thinking they`ve struck gold, they most certainly know more than you do, and although they haven`t completed their first transaction, they already want to be compensated with a higher commission.  

Once upon a time in Real Estate a Seller was actually happy walking away with a slight profit, if they made $25,000 on their beautiful home in a two or three year period they were more than content and the Selling Agent received a "Thank You". Today, a Seller believes it`s their Birth Right or something like that to make a substantial profit over $120,000 in a two year period and become visibly upset that your not doing your job if they don`t. Forget receiving a "Thank You", you cheated them out of more money!  

Once upon a time in Real Estate the mortgage lender actually had an idea of what their job was supposed to be. They knew that a closing date had to be meet, that a GFE wasn`t the initials of their girlfriend or boyfriends. That Buyer or at least in this State selects Title Company and that the mortgage broker didn`t interfere with the closing. Today, 75% of mortgage brokers seem confused, closing dates are thrown out the window, a GFE is forgotten, so the poor buyer is left to the mercy of the mortgage broker to whack them with so many different charges that it appears on the edge of criminal.Worse, they the mortgage lenders blame the Realtors for their ridiculous charges, why not, it`s easier to blame everyone except themselves!  

Once upon a time, you would do a CMA for your seller, the Seller would agree with your assessment of their home and you`d place it on the MLS and hopefully have it sold in a reasonable time frame. Today, no matter what you tell your seller they truly believe "MY HOME " is worth $50K more than your CMA! The home remains on the market longer, and after 90 days the Seller wants to switch Realtors because after all "You`re not doing your job properly in selling MY HOME".  

I guess the more things change the more they remain the same!

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Show All Comments
Rainer
6,391
Omar Camejo
Florida List For Less Realty,Inc. - Ocala, FL
You`re lucky $50,000 above List price is nothing in today`s market.
August 30, 2006 06:44 AM #1
Rainer
9,491
Erika Urbina-Cannet
The Campins Company - Lauderdale by the Sea, FL
Nice kids, are they yours?
August 30, 2006 06:51 AM #2
Rainer
106,846
David Eiglarsh
Eiglarsh Realty - Weston, FL
CRS
Hi William, You are so on the money with what you write. I'm hoping the market shift will clean out most of the bad, opportunist agents & mortgage brokers. What's sad is that I've seen alot of really good, capable mortgage agents get out of the business because of the "internet/tv" brokers like (I deleted the name of one of these companies so I don't get sued). Good mortgage brokers just couldn't compete when they are beaten by one of these companies who quote a 1/8 percent lower rate. Then at closing they are slammed by high closing costs, assuming they even get to closing!
August 30, 2006 07:31 AM #3
Anonymous
Anonymous
Anonymous

In the old days, i`d jump at the chance of having a listing. Today, with almost 100 listings, I have been much more selective, quite simply, if the seller isn`t interested in offering 3% to the Buyer`s agent, and if the price of the listing is too high, I now pass, rather than deal with the hassle that the seller will infringe on my staff and I.  

August 30, 2006 04:25 PM #4
Rainer
9,491
Erika Urbina-Cannet
The Campins Company - Lauderdale by the Sea, FL

Michael,

Where do you hail from?

August 30, 2006 05:03 PM #5
Rainmaker
299,082
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
VA Home Loans/San Diego

Good post.

David, thanks for understanding what we, as mortgage companies, are dealing with with the "online marjeters" that treat mortgages like a commodity.

I'm looking forward to another cleaning of the ranks so we can get back to doing business.

William, I understand your frustration with the mortgage business; if these clowns would leave I could get my underwriters back to underwriting CLEAN files in a timely matter. 

August 31, 2006 11:20 AM #6
Rainmaker
163,134
Susan Milner
Florida Future Realty, Inc. - Cape Coral, FL
Cape Coral Real Estate Broker, FloridaFutureAgents

Yep. This is so true. I blogged about this the other day as well, before reading this.

September 11, 2006 10:07 PM #7
Rainer
2,499
Barry Curtis
Curtis Realty Group, LLC - Imperial, MO
Right on the money with this one!
September 12, 2006 11:00 AM #8
Rainer
86,844
"JT" Prevatte
Century 21 Family Realty, Relocation/Recruitment Director - Fayetteville, NC
I have not read a truer post today.  You are right on the money with your observations.
September 14, 2006 09:07 AM #9
Rainer
57,919
Christine Adler
FindAHomeWithMe.com - Fort Lauderdale, FL
SE Palm Beach, Broward & NE Miami-Dade Counties FL
Everything seems better the way I remember it, rather then how it really is. For example when I go to a place I have not eaten at for years I find that the food was not as good as I remembered.
September 23, 2006 09:57 AM #10
Anonymous
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Rainer
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William Seufert

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