Decline in Real Estate

[Green]

Wouldn't alot of price reductions indicate that the market is in a slump or that there is a glut of places for sale ?

[Easygoing]

Yes Green, that would seem to be the logical conclical conclusion, that prices are too high still, so those that want to sell, have no choice but to lower the price, like they are doing. Real estate sales people, don't like to admit that, for some reason.

[konadave]

quote:

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I have to be very careful how to phrase this without violating the Code of Ethics. I have been in the business for 14 years, 12 as a Broker, and I have worked with countless of agents. In my experience most of them would do almost anything for a buck and that's why this profession has such a bad rep. I pretty much have my little list of agents whom I respect and I quietly pray that one from the list will be the one representing the other party in the transaction.



Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

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John,

It is interesting to me that you mention this. The realtor that I used to buy my property over there had problems with the sellers agent. As a matter of fact there was so much crap happening from the seller's agent that I had legal reason to pull out of the contract and almost did! I am glad now in hindsight that I didn't. It was just that they made things VERY difficult and stressful for me.

The Kona Forum
http://www.konaforum.com

"Only two things are infinite, the universe and human stupidity, and I'm not sure about the former". --Albert Einstein

[Lew P]

There have been lots
of media activity, about increases in mortgage defaults due to ARMS. I wonder when the heavy foreclosures will hit Hawaii. I believe it will happen in a few months.

[Haole Girl]

quote:

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quote:

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Interesting article on pubic perception of different occupation prestige; RE on bottom on list, even below lawyers. I am sure that most RE are honest people working to make ends meet, but a few bad apples in the profession can give a black eye to the entire profession.

I have to be very careful how to phrase this without violating the Code of Ethics. I have been in the business for 14 years, 12 as a Broker, and I have worked with countless of agents. In my experience most of them would do almost anything for a buck and that's why this profession has such a bad rep. I pretty much have my little list of agents whom I respect and I quietly pray that one from the list will be the one representing the other party in the transaction.



Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

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quote:

---

Interesting article on pubic perception of different occupation prestige; RE on bottom on list, even below lawyers. I am sure that most RE are honest people working to make ends meet, but a few bad apples in the profession can give a black eye to the entire profession.

I have to be very careful how to phrase this without violating the Code of Ethics. I have been in the business for 14 years, 12 as a Broker, and I have worked with countless of agents. In my experience most of them would do almost anything for a buck and that's why this profession has such a bad rep. I pretty much have my little list of agents whom I respect and I quietly pray that one from the list will be the one representing the other party in the transaction.



Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

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Yes... your statement did indeed violate the NAR Code of Ethics.

By the way anyone can file a complaint with the National Association of Realtors if and when realtors violate the Code of Ethics.

[John S. Rabi]

Haole Girl, it is not a violation of the Code of Ethics to speak badly about the profession and real estate agents overall. However, it certainly would be a violation if my comments were to refer to a certain agent or agents or a certain company.

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

[Haole Girl]

quote:

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Haole Girl, it is not a violation of the Code of Ethics to speak badly about the profession and real estate agents overall. However, it certainly would be a violation if my comments were to refer to a certain agent or agents or a certain company.

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

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Actually yes it is since you put other agents down at their expense in order to elevate yourself. Specifically:

Duties to REALTORS®

Article 15

REALTORS® shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices. (Amended 1/92)


http://www.realtor.org/mempolweb.nsf/7c7...TORS%C2%AE


As you can tell... I am also a member of NAR. If you are too then you agreed to the Code of Ethics....




Edited by - Haole Girl on 03/08/2007 12:39:15

[Jared I]

My problem with realtors is commission. For 3% of the purchase price they shoehorn individuals into larger price and for them a larger commission. There is very little oversight. A realtor can claim multiple bids on a property just to pressure a higher bids. In AU where bids now have to be logged with a 3rd party, false bids and multiple bids on properties have fallen and so have prices.

I think after the RE bust realtors will go the way of travel agents. Remember when TAs had control over buying airline tickets and took commission for what we now do on the internet.

I dont pay my lawyer or accountant on commission. When I have bought a home in the past I have always used a RE lawyer and I beat the selling realtor down on the commission.

Commissions are a joke, sure I have paided them but grudgingly. Its like paying a financial advisor to trade your stocks, the more trades the FA makes the more commission. I have interviewed FAs before, they run scared when I tell them you can have a commission on the profits you make me after fees are deducted and since I am trusting your advice I would like to see you W2s, financial and bank statements and references for the past 7 years.

If realtors are such great individuals why is NAR investing 40M in promoting realtors in the media? Teachers, cops and firemen dont advertise to promote their standing in the eyes on men, yet they still are admired.

[John S. Rabi]

Be careful Jared, they will say you are violating the Code of Ethics!

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

[Jared I]

John,

I understand you provide a service and by all accounts of people on the board you are an asset. I dont think John will be out of a job, people that provide a valuable service are always in demand.

What are your thoughts on an open MLS and the future of realtors? Do you think changes will be made in the future of realtors and RE transactions? What do you think about realtors working directly with brokers and appraisers? Do you think my analogy of realtors and travel agents are correct?

I would love to hear some of your insight.