Realty Coaching International

Corporate just deserts - Liquidity

Well, the jury is still out, but I will say that as "Big Corporations" fall...I continue to say "So Be It".

Why?

It's not that I am insensitive to the plight of the employees, but if you think of it, greed and mis-management are both the root of most of the evils as they exist today.

OK, go back.... there were investment houses that were practically giving away money, so... in the Big Picture, there were vehicles out there created to "help" them give it away.

There were the unscrupulous "in-house" mortgage companies taking fast applications from anyone who could "fog a mirror".  Some loan agents also "helped" buyers fudge the loan applications on the now-infamous "stated earnings" + "low-Doc.:" loans. (Some even helped without their "victims" knowledge, it has been uncovered.)

There were some unethical loan agents that took advantage of the lack of sophistication or education of their own borrowers by tempting them with teaser rates and low initial monthly payments, without fully warning them of the ticking time-bomb in the actual loan instrument that would re-set to a MUCH higher rate and (unaffordable) monthly payment in only two years. Some even took advantage of their own ethnic groups and by offering a similar background and thereby fomenting an unjustified trust that "one of their own" would never screw them over.

"Housing Crisis" a misnomer

Please correct me if you disagree......BUT.....I am getting sick of watching all the new stories that keep referring to the current situation as the "Housing Crisis". Excuse me, but if not for all the banking lobbyists and lender's advertisers out there, the news reporters would probably be better served calling it the "Lending Crisis".

The last listing I closed on Dec. 14th took an extra 45 days to close. It was a non-contingent sale so the only problem was the lender not the buyer and not the property. 

This is my rant...IF the lenders had not been so damn GREEDY crafting all sorts of programs that benefited them, but screwed the consumer, then they would not be in such a world of hurt right now.

Likewise, for all the dishonest agents that participated in "juicing up" stated income Loan Applications, Price inflation schemes and cash-at-closing scenarios..shame on them..may each of them have a meager 2008.

For myself, I can sleep well at night knowing that I did my job AND watched out for my clients best interest, not my own commission check. To all the hedge funds and sneaky bait & switch sub-prime lenders out there....Bah Humbug and may the vultures peck your eyes out!

        Remind yourselves: If you're going to be a greedy hog, you're bound to get slaughtered!

Cid Young
REALTOR®, PMN, RRC, SRES
Keller Williams San Francisco Properties
1500 Franklin Street
San Francisco, CA 94109
(415) 990-9271
(650) 728-9271
http://www.cid4houses.com
cid4houses@earthlink.net

YOUR real estate needs are MY priority!
 

Sept 11, 2006...Remembering Our Loved Ones

September 11, 2001 - We will never forget - God Bless America and our Friends Around the World!

Is a Realtor Worth MORE or LESS than 6%?

One of my main reasons for not watching alot of tv is misinformation and misrepresentation on behalf of the media. Lesley Stahl absolutely stunned me Sunday night with her one-sided view of the real estate industry.

Chipping Away At Realtors‘ Six Percent -- CBS News Online  -- Lesley Stahl
http://www.cbsnews.com/stories/2007/05/11/60minutes/main2790865.shtml

http://www.cbsnews.com/sections/i_video/main500251.shtml?id=2796105n

Personally, there are enough customers for BOTH WalMart and Neiman Marcus.....YET- I do not appreciate a story that compares apples and oranges.  It is obvious that the consumer does not understand where the commission goes, irregardless of percentage amount.

I was surprised that 60 Minutes did such a lopsided view of the industry and sadly, the Realtor on the show was not permitted to mention that a Realtor's time, undivided attention, and intellectual property are his/her most valuable assets.

No discussion was made about how a Realtor must have basic knowledge of selling skills, negotiation skills, staging skills, real estate law of agency, real estate law of contracts, basic awareness of planning and zoning, property tax appraisals, federal fair housing laws, advertising, marketing, graphic design, writing and technology skills. 

No discussion took place about how the supposed commission is really split between the listing broker, listing agent, selling broker and selling agent.

No comment was made about how the Realtor you actually interact with pays for all the transaction expenses out of his/her cut of the commission. 

Maybe getting into a habit of presenting clients with invoices of services rendered and taking a more active role in educating the public about the differences between full service, limited service and fee for service brokerages will help.

WHAT DO YOU THINK?

Columbine ..In Rememberance

                            The Great Invocation

From the point of Light within the Mind of God
Let light stream forth into the minds of men
Let Light descend on Earth.

From the point of Love within the Heart of God
Let love stream forth into the hearts of men.
May Christ return to Earth.

From the centre where the Will of God is known
Let purpose guide the little wills of men-
The purpose which the Masters know and serve.


From the centre which we call the race of men
Let the Plan of Love and Light work out
And may it seal the door where evil dwells.


Let Light and Love and Power restore the Plan on Earth.

COLDWELL BANKER® Touchdown!

I found this article on coldwellbanker.com and thought you'd be interested in it:
http://www.coldwellbanker.com/servlet/News?action=viewNewsItem&contentId=1057640&customerType=News
Touchdown for Coldwell Banker® !  Love the creativity of extending their brand identity into cyberspace in a poweful and dynamic manner.  These are nicely done videos..check them out http://coldwellbanker.feedroom.com/  Buyers are online to look for information - not necessarily to buy something. The person who can hold their attention and show VALUE will win every time.

What are YOU doing to gain top of mind awareness in your marketplace?