tag:blogger.com,1999:blog-18675105.post116661482348140050..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: A HousingPanic open letter to the realtors of America: It's Time for Changebloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-18675105.post-1166799233562636372006-12-22T14:53:00.000+00:002006-12-22T14:53:00.000+00:00Wow, Keith, I can't believe it is this easy to get...Wow, Keith, I can't believe it is this easy to get to you. You're unhinged. Calling your guest names. Tisk-tisk.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166736201982838162006-12-21T21:23:00.000+00:002006-12-21T21:23:00.000+00:00Todd Tarson - a&sholeI like that title. It sits n...Todd Tarson - a&shole<BR/><BR/>I like that title. It sits nicely<BR/><BR/>Hey, aren't you due over at Greg Swann's party?bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166727348411054572006-12-21T18:55:00.000+00:002006-12-21T18:55:00.000+00:00Lie, Lie, sock puppet.Lie, Lie, sock puppet.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166718675263482882006-12-21T16:31:00.000+00:002006-12-21T16:31:00.000+00:00Spin spin sugarSpin spin sugarbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166710652515418332006-12-21T14:17:00.000+00:002006-12-21T14:17:00.000+00:00Gee Keith, I guess you CAN'T read. I've been sayi...Gee Keith, I guess you CAN'T read. I've been saying much of the same things as your sock puppet guest realtor has. I just don't generalize nearly as much. I doubt Danilo is in leadership, has served on a pro standards committee or an ethics panel.<BR/><BR/>I've said that the broker/agent business model is outdated and needs to be changed. I'm the one on the inside working my way up to see that it happens.<BR/><BR/>I've repeatedly said that I'm all for transparency in real estate, related to representatives and commissions.<BR/><BR/>The education requirements and continuing education rules come directly from each states government. Realtors don't have anything to do with it. I know it sounds nice to say that there should be more of this and more of that, contact your state legislation to make it happen.<BR/><BR/>Danilo tries to make some good points about NAR and I'll agree to some of it in principal. Yet it is so easy to sit on the sideline and wish for things. I'm involved. I'll get to NAR. I have a strong feeling that Danilo has never sat on a local committee. <BR/><BR/>Also Danilo, NAR is not a partner with the GE lock box key system. NAR is partners with Sentri-lock. But like Keith, don't let the facts get in the way.<BR/><BR/>And if I'm on the dark side Keith, then your realtor here is also.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166700678547097692006-12-21T11:31:00.000+00:002006-12-21T11:31:00.000+00:00Todd Tarson I hope you read the letter from your r...Todd Tarson I hope you read the letter from your realtor peer Danilio above and take it to heart<BR/><BR/>Your days are over Todd. You are the "Dark Side" and "The Past".bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166700597746836622006-12-21T11:29:00.000+00:002006-12-21T11:29:00.000+00:00A Realtor's Note to HP'ers: Not All Realtors are B...A Realtor's Note to HP'ers: Not All Realtors are Blind, Corrupt and Evil Liars.<BR/><BR/>Thank you Keith for allowing me to guest post and to everyone for reading this.<BR/><BR/>I understand the hatred and disgust most consumers have with agents, brokers, realtors, NAR, lenders, the MBA (Mortgage Bankers Association) and the real estate industry in general. I am an agent and feel very much the same way you do and want things to change.<BR/><BR/>Most agents are shady, selfish and will screw over their own mother for a dollar. I tend to treat my clients like my friends. I give a crap about them whether it results in a sale today, next year or never. I have plenty of clients who are first time home-buyers that I told months if not over a year ago not to buy anything and wait because rates were still coming down and prices were far from the bottom. Yes, I "killed the deal" months ago, but I have made a client and friend for life. More importantly, I can sleep soundly at night knowing I was honest and upfront with my clients. That's just one example, but it illustrates two very simple ideas - honesty and integrity. These two things are lacking greatly in the real estate industry.<BR/><BR/>I see agents, lenders and title companies not acting in the best interest of their clients and/or screwing them over often. Sometimes, it's on purpose. Sometimes, it's out of stupidity and lack of knowledge or experience. Either way, it is what it is and there's no excuse. What can we attribute this to? There are several things:<BR/><BR/>Most agents are concerned with their commission much more so than their clients best interests. The commissions are high and greed steps in. The lack of thought for the consumer is incredible at times and I wonder whether these agent's parents taught them any kind of values or morals growing up.<BR/><BR/>There is a very minimal barrier of entry. Doctors and lawyers who deal with the livelihood of others (just like agents) and make approximately the same amount of money as agents are required to go through up to 12 years of school and 1 to 2 year internships prior to being able to practice medicine or law. Agents on the other hand only have to pay $400, take a two-week course and pass a kindergarten-level test to get their license (at least in VA). No degree, nothing! To add insult to injury, NAR recently thought it would be "great" to pass a requirement of a high school diploma in order to be a Realtor. HA! Gee thanks guys, what a "huge" step in the right direction!<BR/><BR/>There is almost no continuing education requirement either. In VA, if you've had your license for less than two years, you only need 30 hours of continuing education and 16 hours if you've had your license for longer than 2 years. Are you kidding me? You know how much changes in the real estate world in 2 years? And how could anyone remember everything that they learned 2 years ago? There's no way!<BR/><BR/>All agents who are not brokers are supposed to be supervised by the broker at the office that they have their license hanging in and work out of. That's a joke. How can one broker supervise up to 250 agents in one office at one time? They can't! There is no supervision and most brokers are out trying to recruit new agents for the office rather than trying to supervise the ones they have already. It's all about getting more agents into an office to make more money and have more "clout" in the community.<BR/><BR/>There is no regulation in our industry. Agents get slaps on their wrists IF they get brought up to the board and IF they board finds them guilty of wrong doing. Even so, 99% of the time, their license is NOT suspended or revoked and the fine is minimal. That tells agents that they can screw people without a high probability of getting in trouble and even if they do get in trouble, the consequences are almost nothing. There is no fear of wrongdoing instilled in the industry, which breeds wrongdoing!<BR/><BR/>Yes, I am a member of NAR, but I'm not proud. I only am because I have to in order to get access to the MLS and a lock box key to get into properties. NAR and General Electric (GE) who makes the lock box key run a monopoly over the industry. I, as one agent can't do anything to change it. But I believe that if we all get together, we can start making a big enough stink and get the industry turned around.<BR/><BR/>I believe that we should completely turn NAR upside down and recreate it for the better of the consumer and the good agents who care about the consumer and doing the right thing. But we may have to disband NAR altogether and form another association from scratch. I believe that NAR or whatever association it ends up being should regulate the industry much, much more than currently. The shady agents will object while the honest and good agents will have no issues and see it as a step in the right direction. If you're not doing anything wrong, you won't be afraid of being held accountable. It's why criminals hate the police while law-abiding citizens generally like the police. <BR/><BR/>I think we need a "corporate shake up" when it comes to NAR and the industry in general. We need to get everyone up top at NAR (especially Lereah) the hell out of there and replace them with people who care about the consumer and the industry in general rather than their own pockets and self-interests. We need accountability, transparency, a much higher barrier of entry and increased continuing education requirements. We also need to start holding each other more accountable as agents in day-to-day dealings. If an agent runs across another agent who is doing something unethical or illegal, they should be able to alert a committee and/or board that will deal with them immediately and without fear of getting "black listed" in the real estate community. This, along with what Keith wrote in his post entitled " A HousingPanic open letter to the realtors of America: It's Time for Change " is a great start. Now we have to spread the word and put it into action.<BR/><BR/>Thanks for listening,<BR/><BR/>Danilo Bogdanovicbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166685993882496402006-12-21T07:26:00.000+00:002006-12-21T07:26:00.000+00:00Hey ToddSuck it and suck it good.Hey Todd<BR/><BR/>Suck it and suck it good.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166674498974643012006-12-21T04:14:00.000+00:002006-12-21T04:14:00.000+00:00I agree with Todd Tarson that it's a new paradigm,...I agree with Todd Tarson that it's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.<BR/><BR/>Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and Hondas.<BR/><BR/>This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166672602343640802006-12-21T03:43:00.000+00:002006-12-21T03:43:00.000+00:00Do you remember what happened with Travel Agents a...Do you remember what happened with Travel Agents a few years ago? I think it will eventually happen with RE agentsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166671500889597652006-12-21T03:25:00.000+00:002006-12-21T03:25:00.000+00:00Todd - I appreciate your incredible patience with ...Todd - <BR/><BR/>I appreciate your incredible patience with some of the true idiots on this blog.<BR/><BR/>I agree that prices are set to drop like a stone, but the way you keep a logical and rational tone to your posts... in response to some of these people is amazing!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166665188922427832006-12-21T01:39:00.000+00:002006-12-21T01:39:00.000+00:00real estate clerks--------that is too funny butch....real estate clerks<BR/>--------<BR/>that is too funny butch...<BR/><BR/>real estate clerks<BR/><BR/>LOLFlyingMonkeyWarriorhttps://www.blogger.com/profile/01770643973751363527noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166656917743360532006-12-20T23:21:00.000+00:002006-12-20T23:21:00.000+00:00>>You'll never convince anyone here. Save your bre...>>You'll never convince anyone here. Save your breath. You can't win.<BR/><BR/>Thanks for the advice, anon... but I'm not trying to 'win' anything. I'm merely engaging in discussion, and while doing so I am proving the blogs author wrong on so many levels. I'm having a great time.<BR/><BR/>You do sound like you have good common sense, though. Thanks again for the shout.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166656241284574632006-12-20T23:10:00.000+00:002006-12-20T23:10:00.000+00:00>>Did you get your kickback from a mortgage broker...>>Did you get your kickback from a mortgage broker too? And did you push her into a home that had a co-broke bribe on it like your peers do?<BR/><BR/>Kickback from mortgage broker?? Nope, what part of 'she is buying the residence in cash' didn't you get??<BR/><BR/>Push her into a co-broke bribe?? Nope, in fact I am rebating her $770 dollars in the transaction because the my fee is only $4,000 and the listing broker was set to pay me 3% of $159,000.<BR/><BR/>But I'm a liar and a money grubbing member of NAR, with a GED education, and can only afford tom ramen noodles for dinner.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166655107547028682006-12-20T22:51:00.000+00:002006-12-20T22:51:00.000+00:00Todd you should have advised your client to rent, ...Todd you should have advised your client to rent, and buy again when the market was stable<BR/><BR/>But no.... you wanted your commission, we all understand<BR/><BR/>Did you get your kickback from a mortgage broker too? And did you push her into a home that had a co-broke bribe on it like your peers do?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166650587835709072006-12-20T21:36:00.000+00:002006-12-20T21:36:00.000+00:00"Now be a good realtor and get out there and try t..."Now be a good realtor and get out there and try to sucker someone into making a horrible decision so you can make your nice commission"<BR/><BR/>No, actually a mortgage broker getting ready to cash in on the biggest refi boom in history...but your blog is interesting, but is full of a lot of shit sometimes...we aint gonna go back to the hills and live on canned food anytime soon!!!<BR/><BR/>you are intelligent enough to have a well traffic'ed blog, though.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166646090844281572006-12-20T20:21:00.000+00:002006-12-20T20:21:00.000+00:00There are still about 90,000 travel agents in the ...There are still about 90,000 travel agents in the country. Just like I can't imagine why anyone would use a travel agent instead of booking online, there is obviously a demand in the market place.<BR/><BR/>Same will be true of realtors.<BR/><BR/>Zillow is a piece of shit. According to that thing my zip code has appreciated 3% over last year. If I want fake optimistic news, I can call the NAR and they'll probably tell me the same thing. <BR/><BR/>"Technology is already on the march in the form of Zillow, easy access to state records, and blogs such as this one.<BR/><BR/>So, in a few years the low-end of the clerks will be decimated"Bubble Shmubblehttps://www.blogger.com/profile/08267360261206359229noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166644170158540782006-12-20T19:49:00.000+00:002006-12-20T19:49:00.000+00:00Todd,You'll never convince anyone here. Save your ...Todd,<BR/><BR/>You'll never convince anyone here. Save your breath. You can't win.<BR/><BR/>Example:<BR/><BR/>Housing starts are way down last month, aha!! more evidence that the crash is happening since builders know they can't even sell what they have. This month housing starts surge, but to these yahoos that is also evidence of the crash since it means supplu will increase even more.<BR/><BR/>When someone argues both sides of the issue and comes up with the same conclusion, how do you have an intelligent debate?<BR/><BR/>And no I'm not a realtor, just someone with common sense.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166643916177454552006-12-20T19:45:00.000+00:002006-12-20T19:45:00.000+00:00Now's a great time to get a rim job!Now's a great time to get a rim job!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166641869335124712006-12-20T19:11:00.000+00:002006-12-20T19:11:00.000+00:00I wanna hot chick to fel*te me after buying a hous...I wanna hot chick to fel*te me after buying a house. It would be even hotter if she was someone else's wife! <BR/><BR/>How's that for standards! <BR/><BR/>That's customer service!<BR/><BR/>Oh, yeah, I forgot. She can't use her hands, 'cuz that's cheating!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166641710505708132006-12-20T19:08:00.000+00:002006-12-20T19:08:00.000+00:00>>And yes, it's VERY important people don't buy ho...>>And yes, it's VERY important people don't buy homes right now - they'll be financially destroyed if they do. It's IMPERATIVE people don't listen to realtors or the NAR.<BR/><BR/>I just sold a house to a real nice lady that told me that she knew homes were, in her opinion, overpriced. Yet she still wanted to relocate here to live near her family.<BR/><BR/>I should have tried harder to sway her into living by herself in a community far from her family and not to buy because she will be financially ruined (even though she is buying the residence in cash).<BR/><BR/>Not everyone buys a home because of financial reasons. Often folks buy homes because the move to another town, outgrow their current dwelling, or want to downsize after all the kids move out.<BR/><BR/>Look, I give my clients the facts on the current market. Always have always will. The investor clients are gone. Why?? Because you are right Keith, it isn't financially as sound as it once was to invest in property.<BR/><BR/>My buying clients that are primary residents are told that a home purchase should not be viewed as a real investment. The primary residence is not an asset, it is a liability on the cost sheet.<BR/><BR/>Can a primary residence be an asset?? Yes it can, but nobody should expect to realize a gain on the sale of their primary residence.<BR/><BR/>OMG, a proud Member of NAR just said the things said above. But I thought we were all liars and money grubbing bastards. Well, looks like Keith was wrong again. Typical.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166641125911956192006-12-20T18:58:00.000+00:002006-12-20T18:58:00.000+00:00jrinlv... are you saying it takes courage to post ...jrinlv... are you saying it takes courage to post lies and half truths in the manner that Keith does.<BR/><BR/>Wow... standards sure have lowered.Todd Tarsonhttps://www.blogger.com/profile/01021079047377986544noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166636206829481652006-12-20T17:36:00.000+00:002006-12-20T17:36:00.000+00:00"Kieth: while I certainly support this post, did y..."Kieth: while I certainly support this post, did you not sell at the top and knowingly screw someone else?"<BR/><BR/>- When I sold everyone thought I was crazy - that there was no bubble, that real estate only went up and up and up and up. Even I had no guarantee I was making a good decision<BR/><BR/>In the end, yes, it was a good call and I sleep very well at nightbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166633442622378972006-12-20T16:50:00.000+00:002006-12-20T16:50:00.000+00:00Closing fees are not paid to realtors. They are p...Closing fees are not paid to realtors. They are paid to lenders, title companies and city/county governments. Just like realtors don't lend anyone toxic loans. <BR/><BR/><BR/>"Lower Closing fees via online online by a lot of discount versus traditional methods !!"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1166633327630187042006-12-20T16:48:00.000+00:002006-12-20T16:48:00.000+00:00So not ALL realtors are assholes then?So not ALL realtors are assholes then?Anonymousnoreply@blogger.com