Q: When is a “new list” not new?A: When it’s a re-list “‘Insanity’ is doing the same thing over and over again and expecting different results.”–Albert Einstein January in Minnesota is about snow, subtly lengthening days (finally!), and — to Realtors — re-lists. Lots and lots of re-lists, especially this year. If you’re not familiar...Read More
Surviving the Shakeout Edina Realty held its annual meeting for its 2,500-plus local Realtors today at St. Paul’s Xcel Center. I couldn’t catch all of it — clients come first — but what I saw was a combination pep talk, unusually frank discussion of today’s brutal market, and an emotional presentation by Bob Peltier, Edina’s...Read More
“Put it on my Marketing Account — Not” It’s not just borrowers getting pinched by tightening lending standards — Realtors are, too. For years, Edina Realty and other brokers have basically extended credit to their Realtors through company marketing accounts. Print ads, mailings, Web site and technology fees — all the day-to-day expenses Realtors typically...Read More
Lack of Standardized ContractsCreates Foreclosure Can of Worms From a realtor’s perspective, representing a Buyer trying to purchase a foreclosure can present an endless can of worms. For starters, there’s the issue of the house’s condition. What is it? Unlike a typical owner-occupied home, there are no disclosures, and the Buyer usually must agree to...Read More
Is Barry Ritholtz Right About Realtors? “$#@%&realtors . . .%&*!! NAR . . !!#%@!! . . David Lereah . . .$#%&! . . . NAR . . . %&!!@realtors . . .%&*!! NAR.” –“Former NAR Economist David Lereah is a Jackass,” Barry Ritholtz; The Big Picture blog (1/6/09)As a real estate agent active in the...Read More
What Do Realtors Really Get Paid For?[Note: this post is a companion to “Do Realtors Really Add Value?] If all realtors did was chauffeur clients around, realtors should — and would — make what chauffeurs do: about $20 an hour. But what realtors really do — at least in their capacity as listing agents representing...Read More
