It's not unfair or unreasonable that professionals involved in a divorce proceeding (or an estate situation) be paid. The lawyers are being paid. If there's an appraisal of personal property, that appraiser is getting paid. If accountants or tax advisors are involved, they're being paid. If at some point the property requires a formal appraisal, that appraiser will be paid. If a mental health professional is working with one or both parties (or the children), that mental health professional is being paid. So why wouldn't a Realtor--a real estate professional--expect to be paid for services rendered?
Another reason that hasn't been mentioned: I don't want to get caught up in the middle of a messy, acrimonious divorce. Suppose I do a CMA. I determine--based on my professional knowledge and skills--that the property is worth $400,000. The other party to the divorce wants the number to be higher or lower. I don't want to be accused of slanting my report. I don't want my ethics to be challenged, or my professional skills. It's fine to examine the comps and discuss them. But in an acrimonious situation, the Realtor providing a CMA for one party may be tarred and feathered by the lawyer for the other party, suggesting that the CMA was done in an unprofessional manner or, worse, that it was deliberately adjusted up or down. (And what insurance--not Errors and Omissions, certainly--is going to cover that? Heck, you're not even doing the CMA for a client or customer.)
How about the question of karma? Or a mitzvah? Maybe it's just a good deed with no expectation of any return? If so, then go ahead. I'd just suggest examining the consequences (some perhaps unanticipated), including those I mentioned above.
Hope that helps.
Don't work for free...
There is no benefit. I'm trying to understand what the benefit would be to the other guy... the other one who will go in and do this for free. Exposure of his face, exposure of his brokerage?? I mean what other reason could lead someone to work for free? Is it just that, exposure?
YES I give free CMA's for when the intended purpose is a listing call. But not when I know the report will be used for other intended purposes.
I mean, I wouldn't hire a plumber and then tell him that so-and-so said it was free... after he just spent 4 hours breaking his back under my sink.
I cannot buy back time, but I certainly can charge for it.
She lists free CMA's, free warranties, free appriasals, seller costs, charities, burp the baby, boil the water...and I'll add, even walk the dog. All of these, in the context of Karen's reponse DEMINISH the value of the real estate professional. Allowing such 'contributions' to benefit a buyer or seller, according to Karen, is the orign of 'nasty' responses.
I would like to challenge practicing real estate professionals who do more that 15 transactions a year, to consider...."Don't we do this for everyone else EXCEPT the buyer and seller?
Don't we pay extortion fees (disguised as MLS fees) to the listing agent?
Don't we pay referral fees to agents for the hope of doing business?
Some pay their BROKER for the opportunity to chat with buyers and seller who visit the website.
Don't we pay relocation companies a significant percentage of our compensation?
Don't we pay some lead generation sources a percentage of our compensation?
Don't many pay TRULIA for the hope of chatting with a buyer or seller?
Don't some agents pay fees to maintain that train of irrelevant letters appended to their name in the hope of getting to chat with a buyer or seller?
Many agents kiss up to the BIG BANK lenders...(ewww) in the hope of getting table scraps.
Rumor has it some agents forfiet a portion of their compensation to offset the inflated costs of some mortgage brokers.
And the list goes on.
Is not every lead generation actiity about having the opportunity to chat with a buyer or seller regarding their questions, challenges and goals?
It seems many real estate agents ARE willing to do most anything for everyone EXCEPT the home buyer or home seller. That is ironic, especially in a RELATIONSHIP business.
Don't mistake my intentions. I never leave actionable data behind. It matters not if I am sharing information on TRULIA or in the home of a seller, what I share, what I leave behind, will be missing the 'magic sauce' that makes it work.
The real estate professional who sees a request for a FREE CMA to be a one way event may benefit from a brief review on the seven imporant decisions EVERYONE must make EVERY year. That, coupled with the incredible skill a real estate professional has developed at uncovering the 'real' goals of the homeowner, assures such opportunities are the gift that keeps on giving.
But, before I start giving things of value away, I need a postive response to, "Do you intend to use my services in this transaction? Sign here."
The raw truth is, folks want to keep doing whatever it is they are doing now. No one wants to learn anything new. They have interest ONLY only in how to do what they do now, easier, cheaper, faster, better. I am acutely aware of this. No one willl ask about the 'secret sauce.' No one will ask, "What are the seven important decisions EVERYONE must make every year?" I understand. We simply want to stay on the horse we are riding and end up where it takes us.
If you don't want to provide a FREE CMA (the agent defines what that is) for a homeonwer, then don't. Be aware however, that the doors are wide open, you must choose to walk through them.
Sept 16 I will be hosting a party boat cruise to see the dolfins and sunset. FREE of course to those who are invited. I won't feel the least bit deminished. I won't feel deminshed when I knock on the doors throughout that community sharing images of the cruise.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Serious people CALL.
Serious people require reliable data.
For many reasons.
1. Such circumstances provide an opportunity to create a quiet space in the lives of those currently living in turmoil.
2. Very often a listener presents greater value than that silly CMA.
3. All their friends have either taken sides or abandoned them. There are no voices of reason.
4. I am without judgement and will remain so. Both parties have found a safe place.
Without exception, when those who thirst are delivered cool, refreshing spring water, they always return to the well. Many times with others who thirst.
Best of success,
Annette Lawrencee, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Serious people call.
Serious people require reliable, accurate data
I guess I have a healthy dose of answers here, and helpful tips on what to do in these sorts of cases. I appreciate them all. But for me, from now on... there is a fee for these sorts of requests.
When people call me, they either tell me they're thinking of selling their house, or they're asking for a CMA. When they ask for a CMA, I ask them, what will they be using it for? "Oh, we're not interested in selling?" Well, why don't you ask the agent who sold you the house?
I guess it grinds my gears when I hear this, because I would never tell someone to call a lawyer and expect them to work for free!