Wednesday, March 08, 2006

Realtor Radio Commercial

I was listening to WABC radio yesterday and heard a commercial that touted the high ethical standard of Realtors, which was paid for by the National Association of Realtors. The commercial briefly describes all of the positive attributes of Realtors and noted that they must pass an ethics course if they wanted to use the Realtor designation. I would characterize the commercial as defensive. Given some of the comments on this blog and others about dealings with some Realtors, it looks to me like the NAR is trying to head off the upcoming public relations debacle when the real estate market cracks later in the year.

14 Comments:

Anonymous Anonymous said...

That kind of ad reminds me of the people who place the line "Excellent communications skills" on their resume - along with a half dozen or so punctuation errors.

Nevertheless, I'm sure some people will be gulled by NAR self praise.

Thursday, March 09, 2006 6:53:00 AM  
Anonymous Anonymous said...

Anyone place that has to announce they are ethical obviously has been thought of as cheats and liars. You shouldn't have to wonder if you are going to get screwed by your agent.

My friend's hand an experience with an agent (also part owner) of a "prestigious" exclusive office in Sea Girt, NJ. My friend was trying to sell their home and told the realtor they were thinking of bringing a neighbor to look at the house for their family 1st.

The realtor talked them out of showing on their own, and the day the contract was signed, he brought their neighbor over to see their house. The neighbors wanted to buy and the realtor/owner of the agency wanted the full commission. He never told the owner’s to add in exclusion for them…(the ethical thing to do).
My friends refused and lost all trust in this realtor, He also does uneven commission splits (in his favor) on the sales contract.
From what they went through, people saw what a cheat he is. He is still in business, advertising how professional and ethical they are.

Thursday, March 09, 2006 8:02:00 AM  
Anonymous Anonymous said...

A Monmouth County realtor that lives in our town, has made his living from getting a listing, under pricing it, and then getting his buddy to put in a very low offer. He is a "silent partner" that backs the larger percent of the purchase price.
He uses this method since it is unethical to under price a home then buy it yourself as the seller’s agent.
He then makes money for listing the house, then selling to his partner and then again when he flips it for a profit (the real market value). Ethical...I say not.

Thursday, March 09, 2006 8:11:00 AM  
Anonymous Anonymous said...

A neighbor was transferred out of town and put their house up for sale. The local realtor told several potential buyers and their realtor’s that the buyer would not even consider offers in the “X” range. She then sold the house for less than X to another one of her clients who then flipped the house to yet another of her clients. She was the realtor for all sides of the transaction twice, pocketing the full commission twice . What amazed me was that a least one realtor who I know and had been turned away basically did and said nothing. The original seller had money stolen from them by their own realtor! I think the firm was one that uses yellow signs.

Thursday, March 09, 2006 10:05:00 AM  
Anonymous Anonymous said...

I was blatantly cheated on the sale of my previous home. The listing agent "supposedly" brought me a buyer (her daughter-in-law), who came in $175k under asking price. My house was on the market for 9 months and I had to relocate, so I took the offer.
Two weeks into contract, her daughter-in-law "changed her mind". My realtor said she felt bad, but that she would buy my house instead, (the original contract was transferable). She set me up and had me over a barrel. I have children and I had to take the loss and go on.
Now that I am looking for another house, I am very leery of the realtors and anything they have to say. I was lied to and hurt financially, and just hope no one else gets treated the way my family did.

Thursday, March 09, 2006 10:33:00 AM  
Anonymous Anonymous said...

You can't teach ethics anymore than you can teach morality. Every service related industry has its share of unethical people. There are a tremendous number of highly ethical agents in the real estate industry. You don’t have to look hard to find one. By asking a couple of questions, you should be able to quickly determine if you are speaking with a person of integrity. An ethical agent will tell the consumer what they need to hear and not necessarily what they want to hear. Often, the consumer makes a choice to hire an agent who tells them what they want to hear. Choosing that agent may not always yield an ethical agent or a person of integrity.
Not all real estate agents are REALTORS. The purpose of this commerical is to point out to the public one benefit of hiring a REALTOR over a non-REALTOR real estate agent.

Thursday, March 09, 2006 11:35:00 AM  
Blogger The Real Estate Guy said...

Having a real estate license does not make you a REALTOR. Everyone who works with a real estate agent should interview the agent no differntly than as if you where hiring for a highly trustworthly position. Afterall you are!

I agree, if you ask the right questions of an agent, you will be in a better position to insure you have hired an agent who will look out for you first last and always. Good agents rely on referred business for success. If they are not ethical they certainly won't earn referral business.

Always ask for references and check them out.

Thursday, March 09, 2006 12:01:00 PM  
Anonymous Anonymous said...

We have been in the postition where we look at a house with one realtor and then they think we are "their clients".
We didn't care for that certain agent's personality, so we wanted to use someone else in the office. He made a huge stink about it, and we ended up going else where. That was pretty offensive and upprofessional behavior.

Thursday, March 09, 2006 2:11:00 PM  
Anonymous Anonymous said...

"You can't teach ethics anymore than you can teach morality."

Actually I think you can teach ethics. There's nothing saying ethically-impaired agents can't learn the difference between right and wrong.

Getting them to care is the difference - and why any radio spot where the NAR pats itself on the back is meaningless.

Thursday, March 09, 2006 11:14:00 PM  
Anonymous Anonymous said...

I heard the same commercial on Bloomberg and was hysterical! They are all liars.

Friday, March 10, 2006 2:56:00 PM  
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Tuesday, May 09, 2006 1:34:00 PM  

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