>The Truth About Realtors Posted by nick_niesen on November 8th Cheap Jeff Heath Jersey , 2010
Recently I read that an annual poll taken among Americans rated Realtors as one of the least respected professions in the country. For the first time in history, Realtors fell not only to the bottom of the list, but even below non-licensed, non-governed professions. Yes, we finally beat out used-car salesman as the least respected profession. Different polls have yielded different results, but this particular poll focused on ''the trust of a professional to give good advice.''
Now, for me herein lies a particular conundrum. To start, certain significant differences exist between professions. For example, Realtors are licensed, and as such Cheap Chris Jones Jersey , they are governed by three governing bodies: their local board of Realtors, their state board of Realtors, and the National Association of Realtors. To be licensed, each Realtor must pass a number of significant signposts. For example, in Texas, a minimum of three college level courses must be completed to obtain a license. Of course, this only applies to college-degreed individuals: more courses are required if the candidate does not possess an accredited degree. Next, they must pass the licensing exam.
Once their license is obtained, continuing education is mandatory to retain the license, as is common in many professions Cheap Tyrone Crawford Jersey , such as Accountancy, Law, etc. This requirement is strictly enforced and must include a minimum amount of real estate law. Thus Realtors stay relatively abreast of changes in real estate and law, and, in particular, nowadays, of the growing problem of mortgage fraud, which can in some instances, implicate the seller, even if the seller is ignorant of the law Cheap Geoff Swaim Jersey , they can potentially face criminal charges and substantial fines as an accomplice. (Ignorance of the law is no excuse).
A Realtor, as a seller''s agent, can usually spot the red flags related to mortgage fraud and alert their client to the possibility and possible sources of relief to avoid an undesirable outcome (like jail). In short, the Realtor is a professional, and, in some cases, can not only sell your house, but keep you out of legal troubles.
Additionally, Realtors, per the National Association of Realtors Cheap Anthony Brown Jersey , are bound by a code of ethics, which they must agree and abide by, for if they do not, they can (and usually are) brought before a court of inquiry through their local or state boards to determine their guilt or innocence and receive appropriate disciplinary measures. In short, if a Realtor is unethical (not just operating outside the law, but operating within the law unethically), they can (and will, if found guilty) lose their license to practice.
Did you know that a real estate agent is governed by the same body of law that governs attorneys? That''s right; it''s called the Law of Agency and it varies a bit state by state, but fundamentally, it says that a Realtor is required by law to put your interests above their own. The point is this: Attorneys and Realtors are bound by the same set of laws. Yet Cheap La''el Collins Jersey , somehow, Attorneys rate MUCH higher in the poll.
Ever consider what it cost just to practice real estate? Between the expense of joining the local, state, and national boards, as well as the local MLS dues, showing service fees, website fees, errors & omissions insurance, advertising costs, AND broker related fees and dues Cheap Kavon Frazier Jersey , a Realtor pays thousands of dollars (even tens of thousands) each year just to be a Realtor.
And we''re not finished yet. Once a Realtor is licensed, they must find a Broker to sponsor them. Now, this really isn''t that hard, but if you have a bad reputation in the field (and in real estate, everyone knows everyone), this might be much harder than you might think. In these cases, where reputations are poor, no broker will touch them, so a Realtor''s only choice is to become a Broker (which means more classes, more expense Cheap Deonte Thompson Jersey , more training, and another licensing test) in order to continue to practice real estate. This isn''t saying that all small brokerages are probable crooks, in fact, in most cases, small brokerages are just entrepreneurially oriented individuals trying to build a legitimate business, but there are cases where this is the last opportunity for some Realtors to practice real estate before being run out of town on a rail, so to speak.
I know this seems like rambling, or I''m complaining over something small, but I''m really not. I have an MBA; I am a Certified Management Accountant; I am Certified in Financial Management; I spent 23 years in banking and as a business consultant. Two years ago I got disgruntled with the internal political machinery that constitute ''success'' in corporate America and quit in order to look myself in the mirror at night. So I joined my wife to build a credible, honest business based on integrity. I became a Realtor.
What I found was that no one trusted me and that somewhat astounded me. People thought I took a listing Cheap Antwaun Woods Jersey , sat back, watched TV, drank beer, and waited for someone to sell their property. I''m not making this up - they really thought this. They complained about the fact I wasn''t doing anything for them.
Wow! If they think I wasn''t working for them, they should take a long look at corporate America!
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