When will we learn that this (no longer available) can be counter to the clients’ best interests?
Companies acting as both the real estate agency and mortgage broker in the same house sale can lead to so many problems for consumers that the “two hats” practice should be outlawed, the New York State Commission of Investigation concluded after holding hearings on the subprime crisis.
…
It was probably the most provocative recommendation in a report that also laid out much of what’s known about the subprime collapse. The commission also faulted “one-stop shopping,” which also isn’t against the law but can foster a “breeding” ground for crime when appraisal, legal and other services are provided or arranged by one company or person.
Banning Single-Agent Dual Agency can’t be far behind …
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
Dig Deeper
5 Real Estate What If’s That Make Me Lose Sleep
What if: 1 - The government forces all delinquent/underwater mortgages to be modified? Those of us who do pay our mortgages look like suckers. 2 - Retirees cannot retire. 3 - The 30 Year Fixed Rate Mortgage goes away? 4a - QRM becomes law -…
Unbelievable.
“Effective immediately FannieMae will no longer accept electronic signatures.” Why? Why???? This is the sort of thing I'd like to see Congress and the National Association of Realtors address. The inefficiencies created by needing wet signatures are tremendous. Printing, signing, scanning/faxing. Only to be told…
The “No-Spam” Policy for RealCentralVA.com
Search for homes to your heart's content. I'll never spam you. For real. Simple. I don't spam. Never have. But some people still use bogus names when registering for the home search tool on RealCentralVA.com. And then someone said to me - you know what…
Taking Vacation. And Stock.
I'm taking a vacation soon. I tell my clients that I am "grudgingly" going; but ... after reading my friends' Kris' and Jay's posts, I'm striving to readjust my priorities. I have systems in place, an extraordinarily competent agent poised to cover for me while…