When the “Realtors” and the National Association of Realtors pressure the State Governing Bodies for Real Estate Licensing, the State seems to easily give in to NAR. Why?
I believe it is because they are people, with families and lives and just want to move on with it and they Do Not want to Battle a Multi-Billion dollar giant on a State Real Estate Commission / Board Budget. These boards do not have the kind of legal infrastructure and backbone that the National Association of Realtors Has.
And they simply cannot afford or obtain the kind
And they simply cannot afford or obtain the kind
of attorney that NAR can, so why fight it.
What this means to You, the real estate consumer in the Real World is that you have No Protection in your Real Estate Transaction. The Real Estate Board, Commission – succumbs to the wishes of the NAR and the Real Estate Consumer really has No One to make Realtor be accountable for what they do. Now if this Real Estate Agent was NOT a Realtor, but simply a real estate agent, they would have less protections. Insurance Companies that Provide E and O insurance want Real Estate agents to be members of the National Association of Realtors, they act like it is because Realtor – Members of the NAR have stricter guidelines and stronger ethics, however, that is simply not the case.
A Real Estate Broker can be just as hones or not whether they belong to this club or not. And in fact a Real Estate Agent that is Not a member has more to lose by lying – it is easier to hold them accountable with out the NAR backing up their lies. And without the best of E and O insurance, which is NOT intended to protect the real estate consumer, as TOLD to me by my E and O insurance provider.
This being said, if your Realtor lied and you can prove it, so what, they are NOT liable for what they say if the E and O insurance provides attorneys that make sure the consumer is wrong and drags the real estate consumer through court so long that they give up or go broke.
It is said that in places such as Maryland that in their state law, a client CANNOT sue a real agent for incompetence or fraud; all complaints are to be handled by the state real estate commission. This being said, the Realtor can Legally Lie to you and there is no one to hold them accountable, You Lose.
What this means to You, the real estate consumer in the Real World is that you have No Protection in your Real Estate Transaction. The Real Estate Board, Commission – succumbs to the wishes of the NAR and the Real Estate Consumer really has No One to make Realtor be accountable for what they do. Now if this Real Estate Agent was NOT a Realtor, but simply a real estate agent, they would have less protections. Insurance Companies that Provide E and O insurance want Real Estate agents to be members of the National Association of Realtors, they act like it is because Realtor – Members of the NAR have stricter guidelines and stronger ethics, however, that is simply not the case.
A Real Estate Broker can be just as hones or not whether they belong to this club or not. And in fact a Real Estate Agent that is Not a member has more to lose by lying – it is easier to hold them accountable with out the NAR backing up their lies. And without the best of E and O insurance, which is NOT intended to protect the real estate consumer, as TOLD to me by my E and O insurance provider.
This being said, if your Realtor lied and you can prove it, so what, they are NOT liable for what they say if the E and O insurance provides attorneys that make sure the consumer is wrong and drags the real estate consumer through court so long that they give up or go broke.
It is said that in places such as Maryland that in their state law, a client CANNOT sue a real agent for incompetence or fraud; all complaints are to be handled by the state real estate commission. This being said, the Realtor can Legally Lie to you and there is no one to hold them accountable, You Lose.
They do not have to abide by their contract, but if you do not abide by yours – such as change your mind and not want to sell after you sign a listing contract or a buy sell contract, or you sign a Buyers Agent agreement and decide to by a FSBO.. you are MADE to pay the Realtor and to follow through on the contract, however the agent can legally be incompetent. And the Realtor, Agent can lie to you, mislead you, not disclose what they know and the law protects them.. To bad (this implies) you should not have signed the contract. However, using a REALTOR is standard of practice and what choice in most places do you really have.
If the Realtor Lies and Is not held accountable and the Real Estate Commission or Board decides what kind of "trouble" if any they get into then the Real Estate Consumer is in MORE than just a little bit of trouble.
Shocking to Say the Least.
Real Estate Consumers do not know that the Entire real estate system is stacked against them from start to end. And the Real Estate Transaction does not end at the closing.
Shocking to Say the Least.
Real Estate Consumers do not know that the Entire real estate system is stacked against them from start to end. And the Real Estate Transaction does not end at the closing.
You, the real estate consumer need support, and proof
many – many years into the future .. and it just is NOT there.
So with the Internet threatening the job of Realtors they are creating - changing and enforcing laws that make Realtors necessary. With the Department of Justice succeeding in, not proving that NAR violated Anti-Trust Laws or Getting them to admit that they did, but succeeding in Getting the National Association of Realtors to agree to allow discount brokers or to "cooperate" with them and to apparantly allow Buyers Rebates and coincidently, NOT, the State Governing Body actually changed the state laws with this lawsuit, the Real Estate Consumer not only has an uphill battle to come out a winner in their real estate transaction but it is simply impossible.
So with the Internet threatening the job of Realtors they are creating - changing and enforcing laws that make Realtors necessary. With the Department of Justice succeeding in, not proving that NAR violated Anti-Trust Laws or Getting them to admit that they did, but succeeding in Getting the National Association of Realtors to agree to allow discount brokers or to "cooperate" with them and to apparantly allow Buyers Rebates and coincidently, NOT, the State Governing Body actually changed the state laws with this lawsuit, the Real Estate Consumer not only has an uphill battle to come out a winner in their real estate transaction but it is simply impossible.
In my home state of Montana the MAR ( Montana Association of Realtors) actually sent out mailers to all Realtors, Members of NAR - Statewide and tried to "strong arm" us into NOT giving a "buyers rebate" they told us that it was against the law and that it could be against mortage law and that the law was changing soon after that to make it EVEN clearer that "buyers rebates" are against the law.
Once NAR lost their lawsuit with the Department of Justice, oh I mean settled their lawsuit, our State Law changed and now as of April 08 it is Legal to Give a Buyers Rebate.
Real Estate Legal Action against a Realtor Who Lies.
When a problem arises, one of the first things that you think of us is to gather data and proof. I am sorry to tell you this but all the data in the world may not help. I have seen lawsuits with all kinds of proof of a Realtor Lying and they are un-touchable. The key is to know first, go into the transaction with your eyes wide open…
Subscribe to my Real Estate Blog at www.SavvyBroker.com Knowledge and the Truth about the Real Estate industry is the only protection and real insurance that you have.
You, as a Real Estate Consumer really do not have any way to make a Realtor accountable for their actions. Not all Realtors are Bad, in fact most are likely to try and really help you, stand by you and stand up for you. However the Laws in place that allow, seemingly legally, the REALTOR to legally hurt the real estate consumer with no real liability or accountability is Shocking to say the least.
It seems to me that the Department of Justice itself is not even up to the task of making this all right for consumers. As hard as they fought for Buyers Rebates, and fair treatment in the MLS for Discount Brokers they got NAR to agree to certain terms but NEVER to admit wrong doing.
I find it odd that once NAR “settled” with the Department of Justice, the MLS office and database were supposedly cooperating better with and allowing discount brokers.
To me it was of no real use, the Local Associations still Bully those who want to market the For Sale by Owner, still participate in boycotts that cannot be proven, and make if next to impossible to do real estate business if you do not back up, join, or participate in the real estate cartel that the NAR is allowed to legally have. Though Corporate NAR denies knowing that all of this happens at the local level.
Here’s the deal if Realtors were held accountable and NOT self governed then this stuff would not happen. If REALTORS we trained, taught and enforced to do right by the real estate consumer with a Zero Policy program such as if you hurt the consumer and they prove it, you are OUT, on probation, you pay damages.. ANYTHING. The current system in place is so bad that Realtors really do get away with fraud every day of the week and you, the real estate consumer loses.
The Deception in the Real Estate Industry is far greater then any real estate consumer may imagine, and most Realtors simple follow the leader and allow it to happen. They too have families and lives and want to pretend that all is well, do the best they can, make a living and go home. For me, as a Broker Owner I went straight to the top of my market my first year in real estate. I thought I could Do it Better and Make a Difference. Boy was I wrong. There was no way for me to protect the real estate consumer.
As a Real Estate Broker Owner I can tell you that there really is No Way for your Realtor to protect you in and beyond your real estate transaction, regardless of how much they want to. The system in place was there, most likely, before they joined the Real Estate Cartel and it will be there long after they can longer stomach real estate and move on. Many folks give up and switch careers, to them family comes first and they thought selling real estate was about selling real estate. Boy were they wrong.
I did NOT quit the National Association of Realtors because I could not make an AWESOME and EASY living, I quit because I could and at your expense. I QUIT because the National Association of Realtors did not stand up for my client, did not back me up and because they lied to me.. bullied me and all in the name of Excellence and Higher Standards In Real Estate.
I Quit the National Association of Realtors because in their membership my hands were tied to market your real estate with the True power of the internet, it was impossible to give “negotiable” commissions, Buyers Rebates were frowned upon, boycotts were and are prevalent, marketing the FSBO is Taboo, in an Exclusive Listing my Seller was STOPPED by MAR, NAR.. from marketing their listing ( as you know with the Exclusive listing, if I sell as the Listing agent or if another agent sells I would get a commission, however if the Seller found they own buyer, the contract would be canceled – so if a Seller is NOT allowed to market their own listing – yet I signed this kind of agreement – boy I sure feel like a hypocrite and a fraudster.
I quit NAR because they would not listen to me when I spoke of agents working for more than one office, spoke of lies of local Realtors, and would NOT stand up for the Ethics I so faithfully stood for that day I crossed my heart and said the Realtors Pledge.
I quit NAR for so many reasons and I can tell you that I am now number one in the Internet for my target real estate market – I market the FSBO – I empower the consumer – and I am thriving at real estate and YOU Win.
You can Market ONLINE for Free, Close with a Real Estate Attorney and Title Company and there is NOT one Reason that you Need a Realtor in Your Real Estate Transaction.
The Mortgage Meltdown as they call it, all Comes back to the Lack of Accountability and Quality Control over the Data Base that the National Association of Realtors controls and keeps from the public. Yet provides no way to monitor data for accuracy, You LOSE.
Maryland Statute that Stops Justice, this is the Statute
that Applies to this Post… § 17-533.
"(a) A licensee who assists a prospective buyer or lessee in locating residential real estate for purchase or lease and is neither affiliated with nor acting as the listing real estate broker for any real estate shown or located, is presumed to be acting as the buyer's or lessee's agent representing the buyer or lessee unless either the licensee or the buyer or lessee expressly declines to have the licensee act as a buyer's or lessee's agent.
(b) A presumed buyer's or lessee's agency relationship shall be terminated if:
(1) either the buyer, lessee, or licensee expressly states a wish to terminate the presumed agency relationship; or
(2) the licensee and either the buyer or the lessee enter into a brokerage agreement.
(c) The buyer or lessee does not have an obligation to continue to work with the licensee or to pay the licensee while acting under a presumed agency relationship.
(d) A licensee who is acting as a presumed buyer's or lessee's agent may show and assist the buyer or lessee only on real estate that is not listed by the broker of that licensee.
(e) Before the licensee may show or assist the buyer or lessee in locating real estate listed for sale by the broker with whom the licensee is affiliated, the licensee shall disclose to the prospective buyer or lessee that the licensee represents the seller or lessor for that real estate as provided in § 17-530(b) of this subtitle.
(f) A licensee may represent the prospective buyer or lessee for such real estate as an intra-company agent provided that:
(1) the licensee has executed a written consent for dual agency agreement; and
(2) the licensee has made the necessary disclosure and obtained consent as required by § 17-530(d).
(g) Before the licensee may present an offer to purchase or lease or negotiate the purchase or lease of real estate, the presumed buyer's or lessee's agency must be terminated and the buyer or lessee and the licensee shall enter into a brokerage agreement for that licensee to act as an exclusive buyer's or lessee's agent or as an intra-company agent for the buyer or lessee.
(h) The licensee acting as the presumed buyer's or lessee's agent shall comply with § 17-532 of this subtitle and has the duties stated in the required disclosure form under § 17-530 of this subtitle.
(i) At the first meeting of the licensee and the buyer or lessee, the licensee shall:
(1) orally advise the prospective buyer or lessee that the licensee will act as the buyer's or lessee's agent in locating residential real estate unless the buyer or lessee declines the agency; and
(2) provide the prospective buyer or lessee with a copy of the disclosure form required by § 17-530 of this subtitle, but the licensee is not required to obtain the signature of the buyer or lessee before or during the presumed agency relationship.
(j) A licensee acting as a presumed buyer's agent shall orally disclose that fact to the seller or lessor or the licensee acting as the agent of the seller or lessor at their first contact. "
My Blog(s) are in no way a Rant on Realtors, I was a Realtor, I Quit, I know this stuff – experienced this stuff – have been told this stuff – and have researched this stuff… and you need to know this stuff.
My Blog is a year long education you will get no where else.
My Blog is a year long education you will get no where else.
No book is talking about this stuff, no one is teaching this stuff or even admitting that this is the way things are.
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