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Everything A Real Estate Agent Doesn't Want You To Know, A Year In Review 2006

During 2006 I have written a number of articles known as the "Everything A Real Estate Agent Doesn't Want You To Know" series which has been a consumer oriented series of information to help home buyers and sellers protect themselves when conducting a real estate transaction. These articles are a natural extension of books I have written known as "Everything A Real Estate Agent Doesn't Want A Home Buyer To Know" and "Everything A Real Estate Agent Doesn't Want A Home Seller To Know".

The first book written during 1990 was called "Everything A Real Estate Agent Doesn't Want You To Know" and it had a fair degree of national success, much more than I thought it would, when I introduced it to the media during 1991/92. We sold the book in every state in the U.S. including Alaska, Hawaii and as far as Pakistan and Japan. This was not a bad performance for a self-published under-funded author.

I wrote this book because I was a licensed real estate agent in the state of Ohio and, more importantly, I was a residential mortgage banker for a few years and I saw many home buyers and sellers experience financial damage from dealing with inexperienced and unethical real estate agents. Many of the agents were either totally incompetent or so self interested that they would mislead buyers and sellers, anything to get them to sign a purchase offer or a listing contract. Many of these home buyers and sellers who were cut through the neck and didn't even realize they were bleeding because they lacked knowledge and insight into how the real estate game is played.

These books have always caused friction between real estate agents and myself because many agents resent the title of the books and the ill conceived premise that my position is that all agents are bad crooked people, which is false. In fact, whenever I did a media gig I always made it a point to clarify this is NOT a blanket indictment against real estate agents. There are good, honest, knowledgeable, full time real estate agents in the business who are highly professional. The problem is they are the minority and not the majority.

The major problem with the real estate industry as a whole is the ease with which a person can get a real estate license. While the educational requirements vary from state to state, in most cases, anybody can get a license to sell real estate in about 90 days. This just doesn't make sense to me. Consider that many agents are little old women who operate part-time, have no business or selling background, go to school for 30 or 90 days and are licensed to represent home sellers in property transactions from around $50,000.00 and up. I mean, a lawyer has to go to school for seven years to get a license to write a fifty-dollar will or represent somebody in a petty traffic accident. But silly-sally can go to school for 30 days and list a $250,000 house for sale? That does not compute in my mind. What kind of representation will a seller get from a part time agent with one toe in the tub? And the full-time pros know what I am talking about.

I have had many close discussions with agents while I was in the business and the bottom line is that part timers are often the weakest link in getting a deal done, unavailable for showings, etc. The bottom line, part time agents give part time results whether you are a buyer, seller or a full time agent trying to make a living.

And the truth is that most people, especially first time home buyers and sellers don't know what is going on...not really. How you select an agent to sell a home, the nature of contract law and the negotiable elements of listing contracts, purchase contracts, etc. is way beyond most first time buyers and sellers. The result is that sellers sign stupid long-term listing contracts with the wrong agents and the wrong companies and buyers pay way more for property then they would if they had more insight into the workings of real estate transactions involving commissioned real estate sales agents. I didn't originate the problem, I just identified the problems and the solutions for home buyers and sellers.

CAVEAT EMPTOR is legal jargon which means "buyer beware" and it means what it says. Whether you are a home seller or home buyer, you better know what you are doing when you are making decisions and signing contracts because, it is your duty to know and ignorance is no excuse under the law. If you do a stupid real estate deal, it's your fault. Which is a shame because buying or selling a home is a BIG business decision. It is a business transaction composed of people, emotions, contracts and cash and those are all the ingredients for legal and financial pain if you don't know what you are doing, and most people don't. And how are people supposed to get access to this information that will protect their legal and financial interests before they buy or sell a home anyway?

THE POWER OF THE NAR OVER GOVERNMENT AND MEDIA

What many people don't know is the National Association of Realtors  (NAR) is one of America's largest special interest groups who have incredible lobbying power over our politicians to write real estate laws that benefit the real estate industry, not consumers. Thus, the caveat emptor clause... state and federal real estate laws are written in the interests of your local real estate company and not you.

Something else people are not aware of is the tremendous advertising influence the NAR has over print and electronic media to manipulate the news you read, hear and see because of their advertising dollar power. There is an article written by Elizabeth Lesley of the Washington Journalism review called Demand Happy News And Often Get It and it exposes the corruption and manipulation of the news consumers count on to make decisions about buying or selling a home. I strongly urge everyone to read this article.

Real estate is like the stock market in some ways. When you hear of a fad like "flipping" you are probably at the tail end of that gimmick bubble, kind of like the dot.com days... everybody jumped in because they thought it was hot and it was really the end of the dot.com bubble. A lot of people have gotten caught with their pants down on the flipping angle.

Home foreclosures are up across the U.S. because real estate agents and the lenders who cater to them (the real estate industry has tremendous influence over the lending industry because the are the source of so many home loans) have qualified otherwise unqualified borrowers, by putting them in gimmick loans. In the mad dash to milk the market, people have been steered in to interest only loans, negative amortization loans or attractive teaser loans like low interest adjustable rate mortgage (ARM) and other stupid financing that is NOT in the best interest of the buyer. That's why many of the foreclosures are happening. Naïve and gullible people were sold a bill of goods based on unrealistic property values. The market got hyped and the agents and lenders were right there to exploit buyers and sellers. Did some people make money? Sure. But many people have found themselves against the wall with too much "house", too big a payment and a housing market that looks pretty bleak for a while...

All it takes is one ripple in our fragile economy to turn the real estate market into a landslide. Here's a news flash: The economy is on shaky ground. The economy has been kept strong by housing sales and corporate profits and both are an illusion. The real measure of the economy is durable goods, like automotive sales, which are in the tank causing massive restructuring and layoffs. People can't afford to buy cars because they are scraping the enamel off their teeth trying to make house payments...

So, whoever you are, and you read my real estate articles, keep in mind that the reason I have done what I have done, and will do what I do, is because I am on the side of the consumer. I am on the side of the person who wants to be a better, more informed consumer. I am on the side of the person who wants to save a few thousand on their real estate transaction by being smart and on a more level playing field with real estate agents.

And you know what? By educating people and teaching them how to do deals more intelligently, how to weed out the part timer agents from the pros and save a few bucks in the process, I am actually helping the professional full time agents. The truth is that honest agents won't have a problem with my position because it will get rid of the riff raff.

Thanks for reading!

Jim Hart

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Don't Make Mistake Like Millions Out There - Find A Good Real Estate Agent Before You Buy Or Sell

Have you ever wondered what exactly is up with Real Estate Agent? This informative report can give you an insight into everything you've ever wanted to know about Real Estate Agent.

How can you put a limit on learning more? The next section may contain that one little bit of wisdom that changes everything.

If you are looking to buy or sell real estate, do not get caught like millions of other people out there, in thinking that you don't need a real estate agent. Most people who buy or sell homes, generally think that a real estate agent is a waste of money. Those who choose to buy a new home, think that real estate agents only add to the cost of purchasing the home.

Most people aren't aware of the fact that real estate agents are normally paid by the seller, not by the buyer. As a buyer, you'll get to work with a professional real estate agent without really having to pay for it yourself. The policies can vary greatly from state to state and company to company, which is why you should always check any paperwork or contracts that are provided to you to ensure that you know what you are jumping into. When you are interviewing agents, be sure to ask about any other type of fees as well.

A lot of real estate agents may work with both buyers and sellers, although most specialize in working with either the buyer or the seller. If you are buying a home, make sure that the agent you choose has prior experience of working with buyers and transactions that involve no money down. This way, you can count on your agent to be there when you need him the most - especially if you don't have a down payment.

Top 3 things to consider when looking for a real eatate agent:

1. What you need to look out for when you are interviewing a real estate agent - if he or she isn't familiar with down payment assistance programs, you shouldn't hire their services. Those agent who aren't familiar with these types of programs generally aren't on the level, or they may lack the experience necessary to help you purchase the home of your dreams.

2. Interview as many real estate agents as you can before you make the most important decision in this process. Get a list of real estate agents that you can interview based on referrals from friends, lenders, and even family. Lender's referrals are normally a great choice as most lenders have worked with their recommendations in the past and both are already familiar with each other. Choosing a lenders referral can also prevent you from encountering any obstacles or surprises.

3. When you interview a real estate agent, ensure that the agent explain his fees upfront. This way, you'll know exactly how much he will be getting from the purchase. It is wise to find out how much experience he has in the field, and how long he has been working with real estate. It also help to ask about sample contracts as well. If you are buying a home, you should make sure that the agent works with buyers. If you happen to be selling your home, then you'll want to make sure that the agent works with sellers. Agents that are dedicated to one or the other are the best choice, as they will have more experience than agents who work with both buyers and sellers.

So, you see, finding a real estate agent is not such a difficult task after all - providing you know what to look for. If you take things one step at a time and carefully make a decision, chances are that you'll end up with an agent who has the experience you want. You should always be careful when you choose, and never rush the process. Real estate agents are easy to find, although finding one who fits your needs and has your budget in mind is a little tougher to locate. When you make that final decision, you should always choose an agent who has your best interest in mind - and isn't just after the money.

As your knowledge about Real Estate Agent continues to grow, you will begin to see how Real Estate Agent fits into the overall scheme of things. Knowing how something relates to the rest of the world is important too.

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Kukua Kwa sekta ya Nyumba Kutaua Biashara ya Kupangisha Nyumba?

Utakuwa umejionea jinsi sekta ya nyumba inavyokuwa ikidhihirishwa na ujenzi wa majumba mazuri jijini Dar es Salaam na mikoani.

Mashirika na makampuni kama NHC, TBA, Watumishi Housing Company, NSSF, LAPF GEPF na n.k wamejikita katika ujenzi wa majumba makubwa na kuuza kwa wananchi. Hali hii inatafasiriwa na watalaam wa real estates kuwa hapo baadaye bei za nyumba zinaweza kupungua. Hata hivyo hali inaonesha kuwa mahaitaji bado ni makubwa na nyumba zinazojengwa ni za bei kubwa kwa mwananchi wa kipato cha kawaida kuweza kuzimudu.

Hali hii inaleta sintofahamu kwa wale wenye nyumba za kupangisha za kawaida katika maeneo mbalimbali ya jiji na kwingineno wakihofia kuwa nyumba zao zitakosa wapangaji hapo baadaye. Lakini pamoja na hali ilivyo kwa sasa bado ujenzi wa nyumba za kawaida na fremu za maduka unaendelea kwa kasi ingawa katika maeneo mengine fremu bado zinakosa wapangaji.

Hatuhitaji kuacha kuendelea kujenga kuhofia kuwa nyumba zitakuwa nyingi. Haijawahi kutokea na wala haitatokea kuwa soko la nyumba likakosekana ingawa katika kiasi fulani linaweza kuyumba kama ilivyotokea Marekani na Ulaya.

Kwa wale wanaohitaji nyumba na viwanja kwa ajili ya ujenzi wasiache kututafuta ili kuwa dili nzuri. Au kwa wale wanaoendelea na ujenzi na wanataka mafundi bomba tuwasiliane kwa Dar City Plumbers