Posts: 2,312
Threads: 59
Joined: Jun 2003
quote:
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.
You are absolutely correct Jared, I always approached this profession from the service oriented side. That's why I never advertised any properties on my web sites, I only describe the services I offer.
I started a sliding-scale commission program for sellers in 2002 and most of my peers thought I was crazy. My agents get 100% of the commission for a set monthly desk fee, and of course everybody thought I was crazy for that too.
I think the days of the "traditional" real
estate are numbered. MLS will be an open advertising agency just like FSBO.com and the role of the real estate agents will change. I actually think it will benefit everybody because only the knowledgeable and educated ones will survive.
Appraisers should be forbidden to contact the real estate agents for information when they are doing an appraisal. However, I truly belive real estate agents should be under the supervision of a Principal Broker all the time. I also would make the requirements much more rigid to become a broker and a Principal Broker license shall requiere a minimum of three years experience as licensed broker. (There is no requirement currently, anyone getting a broker license can be a Principal Broker right away.)
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
Edited by - John S. Rabi on 03/12/2007 08:17:03
Posts: 236
Threads: 51
Joined: Jul 2006
quote:
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)
As you can tell... I am also a member of NAR. If you are too then you agreed to the Code of Ethics....
Haolegirl,
I recommend that this article refers to making a statement about a specific company or individual. John is completely within his rights to express an opinion on the institution of real estate and I think you'll find more people on the island who feel he is a considerable expert on the topic. Most of us admire and respect John for his honest and forthright opinions. But, then again, good people always have detractors; some people just covet success.
Brian
Edited by - fishboy on 03/10/2007 16:37:25
Aloha pumehana,
Brian and Mary
Lynnwood, WA\Discovery Harbour
Posts: 279
Threads: 2
Joined: Aug 2006
John, when the realtor cops get close, you can crash at my haole estate till we get you to Mexico. BYOB, and bring some for me too. 
Aloha
Richwhiteboy
“Forgive me my nonsense as I also forgive the nonsense of those who think they talk sense”-
Robert Frost
“Sometimes the truth hurts. And sometimes it feels real good.”
- Henry Rollins
Posts: 12
Threads: 1
Joined: May 2006
Haole Girl;
What you think, being a realtor is like being in Fight Club?. Every profession has it's share of dummies, John's statement is not earth shattering. Nor incriminating.
You must be new at the real estate market on the Big Island (or perhaps the making a buck comment hits a little close to home) so post your real name so I can conveniently avoid you. I only work with professionals.
Posts: 186
Threads: 21
Joined: Aug 2005
I don't see where John violated any ethical canon. Article 15 seems quite specific because it says "REALTORS® shall not knowingly or recklessly make false or misleading statements...". Those are very specific words of art.
Read what John said above. How was it "false or misleading"? It was certainly not aimed at anyone in the industry specific or identifiable. Rather a generic statement of opinion I'd say. Not the kind of stuff that I would personally want to file a complaint over.
Actually, I think he was pretty much spot-on. Every real estate boom (everywhere) seems to bring in a new crop of real estate sales people who are too often marginally competent or ethical. Hawaii is no exception. The barrier to entry into the field isn't that great. I have no idea how many have bit the dust and are back flipping burgers or selling used cars as they should be. I'm guessing that there will be more joining those ranks. IMO.
Posts: 942
Threads: 17
Joined: Aug 2005
I agree with everything John R. said and especially agree with a lot of what toucano said. ALL industries change over time, and real estate is no exception. Those who fail to watch the industry, recognize changes on the horizon and adapt to it will die out. And always, those who fail to provide extensive, valuable and accurate information should not be a part of our profession.
People don't go after car salespeople for their commissions, because you don't see it (its not itemized or public).
People feel free to attack Realtors because, unlike other people paid on commission, ours is clearly disclosed. At least we're honest about what we're being paid.
John Dirgo, RA, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
http://www.hawaiirealproperty.com
Posts: 129
Threads: 16
Joined: Apr 2006
John D,
I go after car dealers on commission, since I am paying cash I want to see the complete bill of sale. Generally I just go to the management and ask for the info I want, if everything is square I will gladly pay. Heck I generally know more about the car than the salesperson. I even split commission with my Tiffany's salesman, but I provide him alot of business. I often ask sales people about their commissions, I like online stores alot for this reason there is no commission.
I have sold houses with realtors before and always for a set agreed price.
This will really scare you guys. I don't tip. Well I will if everything is above and beyond great service. But why should I feel an obligation to tip for mediocre service, just because the owners dont pay their servers a fair wage. I have friends that own resturants in LA that dont allow tipping, each server is paid a fair wage. One friend is even more radical by sharing profits at a fixed portion amount for the chef cooks and wait staff, a computer sorts all the funds. Its amazing how busy the resturant is because everyone is working and promoting it to turn a profit across the board.
I believe most realtors are honesty, but many have faltered especially with the proliferation of subprime loans. A realtor should steer their clients toward homes at 30% of their gross income or 100-120x the rental cost. I have heard realtors speil on how clients could get into homes beyond their reach by using IO and ARMs. If realtors were so concerned about protecting their clients they would have limited the subprime implosion.
Posts: 942
Threads: 17
Joined: Aug 2005
I can only speak for myself, but I have never recommended a subprime loan for anyone. I have only dealt with conventional lenders. Especially in our market here, where people are typically buying as either "primary residence" or "second home", subprime lenders haven't been much of a factor, at least in the business I've done. Can't speak for everyone though.
John Dirgo, RA, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
http://www.hawaiirealproperty.com
Posts: 36
Threads: 0
Joined: Mar 2007
quote:
Haole Girl;
What you think, being a realtor is like being in Fight Club?. Every profession has it's share of dummies, John's statement is not earth shattering. Nor incriminating.
You must be new at the real estate market on the Big Island (or perhaps the making a buck comment hits a little close to home) so post your real name so I can conveniently avoid you. I only work with professionals.
If it wasn't earth shattering then why are you worried?
In any case just call me "Haole" or "E Haole."
Abbreviated for "Haole Girl."
Edited by - Haole Girl on 03/10/2007 18:15:36
Y.W.N.
Posts: 42
Threads: 5
Joined: Jul 2006
Do any of you subscribe to Robert Ferrari's Newletter. In todays newsletter, he states that RE sales and prices are down and falling on the Big Island. He thinks the fallout from the subprime loan problems, may increase the decline.
Always do what evers next.
|
