http://www.theconsultingtimes.com/consumer/ The consulting Blog providing consumers vital information on an alternative to buying real estate services that simply makes more sense. en Copyright 2008 Fri, 21 Mar 2008 11:20:56 -0500 http://www.sixapart.com/movabletype/ http://blogs.law.harvard.edu/tech/rss Richard Burke says: Paula, The focus of bailout money is partially misdirected. Some should go to guaranteeing the end investor who bought the Mortgage Backed Security. If the homeowner is the only entity that the Feds bailout, the investor base dries up and liquidity in capital markets evaporates even more. The consequences are that nobody gets a good fixed rate loan without rates going up dramatically to offset the risk for the investors. The mortgage market is based on supply and demand. There is a great demand, but the supply (controlled by the end investor) is not willing to take on the risk without higher rewards(if they don't get bailout $ too). FNMA creates liquidity by standing ready to buy loans that conform to their underwriting standards. Lifting their caps is going to be more beneficial to the entire market than any amount of money given in bailouts. If banks can make loans to buyers and refinance customers with the confidence of being able to sell the loan in the secondary market, activity soars and prices level off. Consumer confidence is restored and real estate is again in balance. Any effort will take awhile for the full consequence to materialize. Until then, consult with your clients to give them more options than selling their home. Help them find a real solution for their unique situation, if possible, through budgets and financial planning. If accomplished, ACRE Professionals will set new standards for many areas of the industry, which need to be re-educated, not dismissed as greedy and uncaring. Quality comes from training and attention to detail. Take a poll; How Many Professionals in Real Estate Can Accurately Complete a Good Faith Estimate or Net Sheet? Aside from calculating commissions, not many. Not all of these folks deserve to be eliminated from their business opportunities, but they do need to be seriously re-educated. Not by Wine County Tours and 5 course meals, but by the rest of us setting a standard that quality counts, not just commissions. Topic is "Editorial" http://www.theconsultingtimes.com/consumer/archives/2007/11/03/the_mortgage_mess.html Editorial mortgage Thu, 08 May 2008 19:38:30 -0500 Terry Osburn says: Paula, You make valid points. The simplicity of fixing the problem is entirely complicated by greed. You wrote this in Nov 2007. It is now May , 2008. I have been working with Catherine Myers , also of Alain Pinel Realtors, assisting homeowners in distress via short sales when it is indicated. I have marveled at the idiots the lenders have processing the information and facts. I have marveled in how a lender will not accept short sale , put it in foreclosure and receive $150000 or more less than if they had ok'ed the short sale. I also distinctly remember talking to a Countrywide Loan Officer several years ago when these sub prime loans started appearing and it was stated then they KNEW they would be getting these back......pretty much gloating about it...I have sat back and listened to NAR do a cover up before finally admitting there was a problem. I am not pleased that our local boards have pretty much given our MLS away and I am still expected to pay dues. I realize that some of these people in distress knew what they were doing and knowingly overstated their income. The lenders knew they were doing it also. Or should I say the loan officers. Heck, many of the loan officers were tweaking the income to get certain programs. I distinctly remember on more than one occasion, a loan officer wanting me to assist in after closing fraud with under the table money.No, I never did much to their chagrin. When you hear the comment "everyone is doing it" what is the big deal? Look at what is happening today... What really rips me is that a felon can get a real estate license in california. Hello!!!!! Yes, an overhaul is needed, tighter restrictions, and please give me a break with the wine trains and getting credit for license renewals........ Now the fraud is centering and targeting the poor souls who are in the process of losing their homes...YES it is time for change, the SOONER the BETTER! Topic is "Editorial" http://www.theconsultingtimes.com/consumer/archives/2007/11/03/the_mortgage_mess.html http://www.apr.com/tosburn Editorial mortgage Sun, 04 May 2008 00:16:16 -0500 Shannon says: It's true, sometimes it pays to spend a little more to ensure the quality of your product - or that the product is right for you (the shoes I bought at a discount were quality shoes, just not a good fit for my feet). Luckily I'm also a believer in second chances and will be trying that annual race again...with the RIGHT footwear. It'll cost more to get gait tested and properly fitted - but I'd much prefer spend that money on the shoes than on the urgent care bill. Topic is "Four financial potholes" http://www.theconsultingtimes.com/consumer/archives/2008/03/21/a_lesson_in_value.html http://www.mainetoday.com/blogs/couch2beacon/ Four financial potholes cost price Fri, 21 Mar 2008 14:45:36 -0500 ACRE COUNCIL says: This is a test comment Topic is "In the News" http://www.theconsultingtimes.com/consumer/archives/2007/06/17/what_is_all_the_fuss_about_pay.html In the News online leads prospecting Sat, 15 Mar 2008 06:33:34 -0500 Deryk Harper says: Hi Paula, Great post. I would love to leave this as a guest post on my blogsite or link to it with your permission. So many comsumers get fooled, or make uninformed decisions based on these 3rd party lead generation sites. Thanks for putting it all in a clear and easy to read post. Dery Life is Great in 2008! Topic is "In the News" http://www.theconsultingtimes.com/consumer/archives/2007/06/17/what_is_all_the_fuss_about_pay.html http://www.keylocationsforyou.com In the News online leads prospecting Sun, 06 Jan 2008 14:40:23 -0500 John J. Gladwin says: With regard to a real estate transaction, and in addition to commission compensation, We also offer flat fees and capped billable hours @ $150.00 per hour together with authorized disbursements for a 90 day term with the number of hours determined by the complexity and/or difficulties as may be encountered. We further require they execute a retainer agreement together with the advance of a $300.00 non-refundable retainer. All funds received from third parties are placed in trust and credited to the client, and upon closing the file, the surplus funds are rebated to the client. Topic is "Current state of real estate" http://www.theconsultingtimes.com/consumer/archives/2007/03/29/real_estate_consulting_simply.html Current state of real estate choice consulting Thu, 30 Aug 2007 09:52:14 -0500 Erin says: Interesting article. It's interesting to see how real estate professionals are adapting to the changes in the business -- consulting is one way to compete with the Internet. Topic is "Consumer choice" http://www.theconsultingtimes.com/consumer/archives/2007/06/16/real_estate_consulting_fills_t.html http://www.hiphoods.com Consumer choice advice choice consulting expert gap knowledge professional Thu, 19 Jul 2007 21:26:11 -0500 Terry Osburn says: AMEN!Paula you spoke it like a true Professional and very clearly.... Topic is "In the News" http://www.theconsultingtimes.com/consumer/archives/2007/06/17/what_is_all_the_fuss_about_pay.html In the News online leads prospecting Tue, 19 Jun 2007 12:35:31 -0500 Marty Van Diest says: Very good post Mollie. I'm glad I discovered you, or that Tom Pickering gave me a link to ACRE. Consulting is a model I have been thinking about for years. I've done a little but haven't been sure of a good way to put it into practice. In fact, I'm currently blogging about all the services I provide free of charge. When we take a listing, we spend a LOT of time and money without any quarantee that we will be paid. It's pretty rediculous. Topic is "Current state of real estate" http://www.theconsultingtimes.com/consumer/archives/2007/05/12/others_are_beginning_to_face_f.html http://www.valleymarket.com Current state of real estate commission Sun, 10 Jun 2007 04:07:47 -0500 Mollie Wasserman says: You are absolutely right Flynn and you say it well - people have been indoctrinated that our services should be free. There will always be consumers who just want a door opener and lucky for them, there are plenty of "agents" that will oblige. Just like there will always be agents that will work for a pittance and consumers who will hire them and get exactly that much value. Fortunately, there are other consumers that want advice, counsel and representation on the purchase or sale of their largest asset and as the Internet grows and third party companies proliferate, these consumers are slowly growing in number. In fact the more data that is available, the more the consumer needs a professional to make sense of it all. These are the clients I work with and want. Will they sign a contract? You bet - whether they are a buyer or seller, if they want me they will. And they appreciate the value I bring and am willing to pay for it. In the book "Blue Ocean Strategy" by Kim and Mauborgne, you see plenty of examples of competitors fighting in red oceans over traditional markets and customers. Consulting is a Blue Ocean Strategy that, rather than fighting over the current market, builds a whole new one. And it is growing, slowly but surely. And...the water is fine! Mollie Topic is "Current state of real estate" http://www.theconsultingtimes.com/consumer/archives/2007/05/12/others_are_beginning_to_face_f.html http://www.thehomeconsultants.com Current state of real estate commission Mon, 14 May 2007 16:35:20 -0500 Flynn Gentry-Taylor says: I have noticed that the buyer/consumer tends to want all the free services and are really not ready to sign a Buyers Brokerage agreement unless you stipulate that the Seller will pay commission. You are right, nothing is free, although as real estate agents we have trained the public to believe that all the information we give them on the phone, through faxes and emails is free. The answer of course is to have an appointment and consultation with the buyer. But most want to meet you at the property, have you open the door, give them the information and disappear. Since 9 out of 10 realtors run out the door to meet the buyers at any time, without any notice, or qualifications, it is difficult to convince the buyer to come in and sit down and talk first. As an industry we have done this to ourselves. When I try to discuss this with agents in our area, the answer is..."if I don't meet them there, someone else will". I for one would much prefer to perform the duties you outlined, as a real estate consultant, but it will take much training and promotion to distinquish your services from those of the real estate agent. I do agree with you, but will still have to compete with the old models! Topic is "Current state of real estate" http://www.theconsultingtimes.com/consumer/archives/2007/05/12/others_are_beginning_to_face_f.html http://www.FlynnTaylor.com Current state of real estate commission Mon, 14 May 2007 16:07:07 -0500 Merv Forney says: A note about this article: I first published it on February 21, 2006 on my Northern Virginia Real Estate Guide Blog. At the time, the market had significantly cooled, inventories were rising and Zillow came on the scene. There was considerable confusion by sellers about home values coming out of an overheated market where time on market was measured in just a few days and bidding wars that often drove contract prices above asking price. The advice has enduring value and is relevant in any market. Topic is "Four financial potholes" http://www.theconsultingtimes.com/consumer/archives/2007/03/21/the_first_pothole_pricing_your.html http://askmerv.choice3realty.com Four financial potholes commodity demand home price your home supply value Thu, 29 Mar 2007 07:18:41 -0500