John Burns

Who is damaged by the DOM stat even being keep....do we have a use by date on homes ? The property is not affected by how many days it is on the market. Maybe we should request from the buyers agent how many days their buyers have been looking for a property..We can call it DIM days in the market. then the seller could judge the offer being made with this information being supplied. I submit that even keeping this stat is a negative ONLY to the seller. Maybe next we should make them disclose why they are selling. Divorce,relocation,cant make the payments..I am against trend even sharing information with the public and you are making the case why. If trend wants to share with the public they can go the way of realtor.com and others and the Realtors can start a new system with which to share their information. If the seller wants the public to have the information they can then direct the listing agent to share that information by way of another forum. You guys are going to have the exact opposite affect you are seeking. - Thu Jun 19 2008, 06:22

to the consumer,,the lawyers and the Realtors.... I am also a member of trend and the lehigh valley...I have been a broker for 12 years and a Realtor for 20years...1) For consumers...Maybe the system in place is not perfect but it is your best protection. As Realtors we have to not only abide by codes of ethics but also the Law. We are constantly under the watchful eye of the Real Estate commission. Every transaction we or any Realtor under our brokerage performs can possibly put our license at risk. Also we are probably among the last true capitalists out there...If we don't sell we don't make money, therefor we are subject to the free market and public choice If you as a consumer take the trek alone in a real estate transaction ...Yes you are at risk...do you have the right to do so ?/ YES...You also have the right to do many things on your own that you probably don't. You probably would not perform surgery on yourself . I take agency very serious...the mls systems are not set up for the public. Trend is intended as information shared by Realtors with Realtors that has changed somewhat to allow for some public use. The pros using the system are aware of a lot of shortcomings and take the necessary steps to handle them in their everyday work. You and some of these other guys are NOT professionals in this area, as you can tell by their inability to comprehend what is being discussed. 2) Lawyers(consumer advocate) If you are suggesting that the public embark on a real estate transaction on their own as opposed to being represented by a real estate professional I submit you are in danger of Mal pracitice. If you have a problem with any Realtors practice you know there are systems in place that allow you to formally address those issue's,if you don't you are a fraud as has been suggested. 3)Realtors...I have read every post on this subject and come away being proud of the responses. All have been serious and on point. Even the harsh critic's would have to admit the conversation has been very passionate and insightful...Where I stand on the issue... I have debated with myself over and over. I am a very strong believer in the fiduciary obligation of an agent.. If I thought It would truly make a difference in my representation of a client ,, I would take all action legally at my disposal. I charge a commission and deserve a commission because I have knowledge and experience and I am not going to apologize for that nor am I not going to use it. My obligation to the buyer I have never meet and the public fall short of my obligation to my client...I know I just set myself up for someone to take this statement out of context and they probably will...BUT the answer is not to limit what I can do as an agent .Rather...The public should arm them self with an agent to protect them...If the consumer advocate wants to have a real effect he should insist that everyone in a real estate transaction be represented....OR....maybe that's were they are going.....only the representation will be lawyers....Oh GOD....this thought just hit me...........jeb - Tue Jun 17 2008, 07:33

J R,, I have read many of the responses that have been put forth...I think It has been explained well and any resonable person would be able to see that. There has been much helpful advice submitted by all..some people are just not happyable...If hob has another topic to discuss maybe we can get some thoughts on something else........jeb - Mon Jun 16 2008, 08:12

thehob.........I would like to debate Real Estate with you...but if you think expertise is monopolization,thats enough said for me...end of discussion...I am sure if you nag trend enough they will adhere...then you can be on to your next major cause...jeb - Fri Jun 13 2008, 16:23

deborah,, I like your suggestion that "thehob" may be more useful in addressing other issues of greater consequence as a "consumer advocate". I would suggest he start with any entity that encourages the public to act on their own behalf in a venture involving tens and hundreds of thousands of dollars....maybe there is some liability there...jeb - Fri Jun 13 2008, 13:07

Textein,, I like that suggestion the best...we don't need days on the market. As a real Estate pro I hope you are looking into more than DOM when advising your clients how to proceed with a Real Estate venture....jeb - Fri Jun 13 2008, 07:18

I am surprised at the passion that this topic has created. My outlook on the subject is that way too much is being made of the DOM. I think excessive days on the market may give the false impression to buyers that a seller is distressed and therefor able to be taken advantage of. Although DOM may be an indicator,The reality is that a seller is usually motivated by far more pressing issues that are usually not shared with the public and in a different format. While you are focused on DOM, I wonder what you are really missing in the formula. I think the real issue is that there is a perception that the Realtors are trying to keep the consumer from having this information, and other information easily made available to them. From a professional point of view, DOM is only a small part in the process of looking for a "good deal". If you(as a whole) are so frustrated by the DOM not always at your fingertips, when in most cases all you have to do is ask. I can't begin to explain the topics you should be concerned about. I wish you and anyone else the best if they try real estate investing without help. Your first mistake is thinking that the Realtors are your enemy, while all are not equal, most are honest and hard working. This is a great Internet site for conversation BUT my real concern is that someone out there is making life long financial moves based on information and/or advice they are getting from any web site. I am sure there are many experienced investors out there that have many war stories they can share with you...Some win,, some loose,,,Good luck....jeb - Fri Jun 13 2008, 03:53

wow ....days on the market..what a dilemma....If you cant get by this little bump, Imagine what else you are missing..Real estate is complicated..the assumption that it is not, is on you....The internet is a good source for info...the expertise is knowing how to use it...jeb - Tue Jun 10 2008, 10:20

lets see a seller hires an agent to act on their behalf...is it misleading to relist the property ? can be...has the price changed ? have they made upgrades or repairs ? possibly...The listing agent works for the seller...see "disclosure notice to buyers"...If a buyer is acting on their own behalf or has a greenhorn as agent they will probably be at a disadvantagre...that is what agency is about....If you are in legal trouble you want an attorney that will fight for you..dont you ? I have been doing buyer agency since its conception,,actually probably before...If you dont have a good buyers agent get one....jeb - Tue Jun 10 2008, 08:35

All other things being equal, Yes an end unit will be more desireable to most people and this means higher value...BUt...in this market you need to be very aware of what each townhome developement is doing as a whole...also look at small singles in the same price range if value is a concern. - Tue May 6 2008, 04:15

If you are hooked on buying a townhouse you will have many choices and you should be able to determine your own price within reason. I advise you to find a few homes you like, 1-5yrs old. Preferably with a deck,finished basement,gargae,upgraded kitchen and 2.5 baths and finished landscaping and let the negotiating begin. Make an offer on the one you like best (2-7%) under asking. Negotiate up from there not to exceed your pre-determined limit. If you don't get the offer accepted go to your next favorate property and do the same thing. If you want an agent willing to work on your side contact me. john@jbrealtyservice.com - Tue May 6 2008, 04:08

I would advise spinnerstown.You will be close to the turnpike and also closer to quakertown.This gives you the option of travaling the turnpike or 309 and it is easy to reach highway 78 by back roads.Shopping would be ample and you would have all this to offer when you sell in five years or so.If you want info on this and other areas contact me john@jbrealtyservice.com - Tue May 6 2008, 03:56

I was going to answer by comparing realtors to chese steaks..voted best pat's,geno's, I happen to like steve's...and I thought this might be a little harsh. compared to what can go wrong in a real estate transaction,its not. There are pro's and con's to all the choices you have heard..My rule of thumb is If someone is spending mega bucks to convince me I need to perform a certain act I proceed with caution...find a realtor that you feel is honest and is working for you..over the years I have learned there are realtors that work for buyers.realtors that work for sellers and then realtors that work for THEMSELVES..Get a commitment that if for any reason you want to terminate your relationship with that realtor(real estate company) you can..short of this move on. - Mon May 5 2008, 08:41