Q: (Single Agent) Dual Agency - Who Benefits? A: The Realtor July 1 2012 will be a day that many buyers, sellers (and real estate agents, I'd wager) learn that the current world of real estate representation is (supposed to be) about representing clients' best interests - not merely selling a home. That's the day that the new real estate Agency law will take effect. While single agent dual agency isn't outlawed, real estate agents are now legally bound to explain to potential clients the pitfalls of single agent dual agency - whereby the … [Read more...] about Real Estate Representation (Finally) Evolves in Virginia
These are the bills I'm tracking on Richmond Sunlight - bill ranging from real estate licensing to the castle doctrine to eminent domain - and quite a few more. The Charlottesville real estate market has gotten busier since the General Assembly's session started so my time has been more limited (and this highlights why the only ones able to really influence legislation are the ones paid to do so). As a consumer, agreeing to Single-Agent Dual Agency would take an awful lot of consideration and trust â€¦ and perhaps a bit of greed and ignorance. … [Read more...] about What are Your Favorite Bills in this Year’s General Assembly?
HB 1907 is a big bill; I've talked about it before, discussed how and why single agent dual agency is bad; when we founded Nest we made a policy against single agent dual agency .... No Dual Agency. To my knowledge, we are the only real estate brokerage in the Charlottesville area stating definitively and publicly â€œNo Dual Agency.â€ Interestingly, thanks to the above comment, several local brokerages mentioned that they too have policies against dual agency. We just happened to be the only ones publicly discussing it and advocating for … [Read more...] about HB 1907 – Agency in Virginia, Disclosures and More
Update March 2017 - all my youtube videos prior to 2012 have disappeared. Darn it. No matter how closely you look, you may not know how much your Buyer's Agent may be getting paid ... "How much is the commission on that house?" 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). … [Read more...] about How Much is the Buyer Broker Fee?
Transcription: Hey, Jim Duncan with RealCentralVA.com and Nest Realty Group here in Charlottesville, Virgina. It is the first week of December, 2009 and that means one thing to me at least. It means that people are starting to think about buying and/or selling homes in the Spring. Now is the time when people really start to talk about these things in earnest, so here is the thing: if you're thinking about buying a house, it's a great time to buy! Just kidding. It could be depending on what your goals are. It could be a really smart time to … [Read more...] about Prepping to Buy a House in Charlottesville
Blog Wayback again ... From November 2007: Why Use a Realtor - decoding NAR-Speak Inspired by these two comments on the BHB, today I'm going to respond to/pick apart the National Association of Realtors' Why use a Realtor? page. I hope that few consumers had read the referenced page on Realtor.com. Numbers two, nine and ten in particular jump out as being particularly wrong/offensive to me. If we eliminate Dual Agency and End Cooperative Compensation (have the buyer pay the buyer's agent, seller pay the seller's agent - simple, huh?) many of … [Read more...] about Blog Wayback – Why Use a Realtor – Decoding NAR-Speak
Editor's note: This is a post I have been sitting on for a few months now, but the HooK's story last week about Ryan Homes' market dominance spurred me to publish. It is written by a local Realtor who works for a local builder. I have made a few edits here and there to anonymize and generalize it as much as possible. If there are any factual inaccuracies, please let me know in the comments or offline. From the HooK - At a time when local stalwarts like R.D. Wade Builder and Church Hill Homes have fallen by the wayside, Ryan's … [Read more...] about Buy Local