Tag: industry issues

The Real Estate DANGER Report: Agent Competency

The Real Estate DANGER Report: Agent Competency
Several years ago (I think it was around 2014) the National Association of Realtors commissioned Stefan Swanepoel, a real estate industry consultant, to conduct a study of the chief threats facing the real estate industry. He and his colleagues surveyed close to 8000 real estate agents, interviewed 74 senior industry executives, and studied over 6000... Read more »

How Dual Agency Affects Commissions And Rebates

How Dual Agency Affects Commissions And Rebates
Last week I wrote about how some researchers had measured the cost of dual agency transactions. They were able to determine that home sellers lost roughly 1.4% of the purchase price even when dual agency was disclosed. However, there are also some additional impacts on the home buyer and the seller and it all has... Read more »

The Cost Of Dual Agency In Real Estate Transactions

The Cost Of Dual Agency In Real Estate Transactions
In numerous past blog posts I’ve alluded to the problems of dual agency. The fundamental problem is that when there is only one real estate agent “representing” both sides of the transaction whose interest takes priority? In Illinois the way it’s supposed to work is that the real estate agent who is about to work... Read more »
Advertisement:

Selling Your Home Fast - The Right And Wrong Way

Selling Your Home Fast - The Right And Wrong Way
This is a follow up to last week’s post on selling your home fast to flippers or vultures. Based on some of my own experiences, it covered the worst way possible to sell your home fast and also explained what’s driving those economics. There was actually way more material on this subject than I could... Read more »

NAR Reverts To Old Nonsensical Position On FSBO Debate

NAR Reverts To Old Nonsensical Position On FSBO Debate
I really thought we had put this issue to bed a year ago – the real cost or savings of for sale by owner – when some smart guys finally looked at the problem the correct way. For years the National Association of Realtors made outrageous claims about how a real estate agent could get... Read more »

More Reasons Why Real Estate Commissions Are So High

More Reasons Why Real Estate Commissions Are So High
I’ve written on numerous occasions about why real estate commissions are so high, covering a wide range of reasons like wasted time, the cost of friendships, and lead acquisition cost – none of which have anything at all to do with the value of the service provided. Recently I ran across a special report from... Read more »
Advertisement:

Don't Put Too Much Faith In That Real Estate Appraisal

Don't Put Too Much Faith In That Real Estate Appraisal
3 1/2 years ago I wrote a blog post about some of our worst experiences with real estate appraisals and some of the systematic problems with that entire process. Needless to say that post was not well received by many real estate appraisers out there. Not surprisingly, they wouldn’t really admit to any problems in... Read more »

Realtor Logo Redesign Fail Makes Entertaining News

Realtor Logo Redesign Fail Makes Entertaining News
I’m sure that all of you spend your days pondering what exactly a realtor is and that you have a highly emotional attachment to the current realtor logo. Well, for some reason the National Association of Realtors (NAR) decided that the 45 year old logo needed updating. Three days ago we received an email from... Read more »

Real Estate Brokerages Act As If Size Matters

Real Estate Brokerages Act As If Size Matters
Two weeks ago Crain’s reported on a lawsuit brought against Baird & Warner by @Properties regarding B&W’s Chicago area home sale volume during 2017. According to the article B&W claimed to have done $8.8 B in business last year but @Properties claims that the real number is closer to $5.6B. @Properties is asking “a judge... Read more »
Advertisement:

How To Avoid A Procuring Cause Issue

How To Avoid A Procuring Cause Issue
Several weeks ago I posted on the arcane real estate concept of procuring cause and how it can burn unsuspecting home buyers that fall into its many traps: Procuring Cause: How You Can Get Stuck With A Real Estate Agent. If you are not familiar with the issue and its implications you need to go... Read more »