Date Archives September 2010

How Much is the Buyer Broker Fee?

That question is one of the many reasons that I choose to use Buyer Broker agreements with my buyer clients . (and why ending cooperative compensation would be a boon to the real estate world ). 1 – The Seller and the Sellers’ Realtor are going to do whatever they can (legally and ethically) to induce a buyer to look at the house … and hopefully buy it.

…(this argument becomes much harder when the seller has no or negative equity) – “It’s none of the Buyer’s business how much I’m being paid!” (as argued by the Buyer’s Agent who ostensibly is seeking to “represent” said buyer) Look, I’m not begrudging Realtors earning livings what I do encourage is for buyers to be aware of what may be going on behind the scenes.

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I can’t think of any other way to say it, especially when it’s been said this succinctly: New Home Sprinkler Requirement Improves Safety .19% . … Beginning in January 2011, a change to the International Residential Code (IRC) aims to reduce that number by making fire sprinklers mandatory in all new single-family residences. Sounds good, but home-building lobbies from Texas to Georgia have defied what they call an impractical, expensive mandate, convincing legislators to pass bills overriding the requirement. … The fire survival rate in homes with working smoke detectors is 99.41 percent, according to the NFPA.

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Listing Data Distribution Gets …

Via TechCrunch: ListHub products and services include syndication of 2.4 million property listings from 270+ multiple listing services and 38,000 brokers to more than 70 real estate marketing web sites, as well as data management services and reporting analysis used to monitor online listing performance.

…ListHub products and services include syndication of 2.4 million property listings from 270+ MLSs and 38,000 brokers to more than 70 real estate marketing web sites, as well as streamlined data management and reporting analysis used to monitor online listing performance. With the addition of the ListHub brand, Move will deliver even greater value to MLSs, brokers and real estate web sites as a single trusted source for national online listing syndication and reporting services empowering real estate professionals to reach more consumers while efficiently managing their online marketing strategy from one standardized dashboard. … Together, Move and ListHub will consult and work with key constituents in the real estate industry to demonstrate how its newly combined products and services can help MLSs, franchises, and brokers increase their online marketing effectiveness, safeguard the use of listing data, and reach more potential buyers and sellers efficiently through the national ListHub syndication network.

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Dredge? Dig? Drig? Charlottesville and Albemarle Need a Water Plan

I could make at least two arguments: 1 – The City Council has once again demonstrated their collective inability to stick to a plan that was hammered out over many years and was a good plan. 2 – Congratulations to City Council for being flexible, relatively nimble and for listening to the people This much is known – we need water, and it’s not an infinite supply and Charlottesville and Albemarle aren’t alone – Fluvanna and Louisa have been talking about water for some time .. … And the dam supporters had some pretty big guns: the Chamber of Commerce, the aforementioned former Supervisor, the League of Women Voters, and the Nature Conservancy, the enviro-group credited with devising the dam/pipeline plan. … Charlottesville Tomorrow : Charlottesville City Council has unanimously approved a revised community water supply plan proposal that emphasizes phased construction of a new or refurbished Ragged Mountain Dam (with an initial water level height increase of 13 feet and a larger foundation that would support up to a 42 foot increase in water level), extensive and ongoing dredging of the South Fork Rivanna Reservoir, a new pipeline connecting Ragged Mountain to South Fork, and aggressive water conservation efforts.

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Fun with the Code of Ethics – Is it unethical to Overprice a listing?

Someone asked me this question last week, and after a bit of deliberation and thought, I think that the argument could be made that a Realtor “buying a listing” – telling a Seller what they want to hear rather than what they need to hear – could be considered a breach of the Realtor Code of Ethics .

…The services which REALTORS® provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, land brokerage, real estate appraisal, real estate counseling, real estate syndication, real estate auction, and international real estate.

…The challenges to a viable Code of Ethics are (at least) two-fold: 1 – The system is self-enforcing (and I could make the argument that if I were to file a violation against another agent, I could be violating my fiduciary duty to a future client) 2 – Few members of the public know that they can file a violation and don’t care enough to do so. … This is one of the many reasons that I share all market data with my buyer and seller clients – I want them to be educated, informed and competent as to the decision that they are making based on my professional advice.

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