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Agent2Agent in Stanislaus County : Real Estate Advice

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  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 10
Wed Mar 28, 2012
Chuck Bukhari answered:
Elizabeth Weintraub answered it well in the following posting at ABOUT.COM
People use the terms REALTORテつョ and real estate agent interchangeably, but that is incorrect. There are differences between REALTORSテつョ and real estate agents. They are not the same. Although both are licensed to sell real estate, the basic difference between a real estate agent and a REALTORテつョ is a REALTORテつョ is a member of the National Association of REALTORSテつョ. As such, the main difference that you hear a lot about -- but are likely confused about -- is that a REALTORテつョ must subscribe to the REALTORテつョ Code of Ethics. But what does this mean to a consumer?

The Code of Ethics is strictly enforced. It contains 17 Articles and various underlying Standards of Practice. It's not just a bunch of rules that agents swear to uphold and adhere to. The Standards are much more restrictive and confining as to conduct than those governing agents who simply hold a real estate license. While there is no evidence nor guarantee that all REALTORSテつョ are morally and ethically better than unaffiliated real estate agents, it is an attempt by the industry to regulate and, as such, deserves recognition.

Here are 17 things that a REALTORテつョ promises to do that non-affiliates do not:

#1) Pledge to put the interests of buyers and sellers ahead of their own and to treat all parties honestly.

#2) Shall refrain from exaggerating, misrepresenting or concealing material facts; and is obligated to investigate and disclose when situations reasonably warrant.

#3) Shall cooperate with other brokers / agents when it is in the best interests of the client to do so.

#4) Have a duty to disclose if they represent family members who own or are about to buy real estate, or if they themselves are a principal in a real estate transaction, that they are licensed to sell real estate.

#5) Shall not provide professional services in a transaction where the agent has a present or contemplated interest without disclosing that interest.

#6) Shall not collect any commissions without the seller's knowledge nor accept fees from a third-party without the seller's express consent.

#7) Shall refuse fees from more than one party without all parties' informed consent.

#8) Shall not co-mingle client funds with their own.

#9) Shall attempt to ensure that all written documents are easy to understand and will give everybody a copy of what they sign.

#10) Shall not discriminate in any fashion for any reason on the basis of race, color, religion, sex, handicap, familial status, or national origin.

#11) Expects agents to be competent, to conform to standards of practice and to refuse to provide services for which they are unqualified.

#12) Must engage in truth in advertising.

#13) Shall not practice law unless they are a lawyer.

#14) Shall cooperate if charges are brought against them and present all evidence requested.

#15) Agree not to bad mouth competition and agree not to file unfounded ethics complaints.

#16) Shall not solicit another REALTOR'S client nor interfere in a contractual relationship.

#17) Shall submit to arbitration to settle matters and not seek legal remedies in the judicial system.

The National Association of REALTORSテつョ was founded in 1908 and has more than one million members.

At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
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Wed Mar 28, 2012
Taj Weldon answered:
Thanks Aaron, this is exactly the type of information that I was looking for.I will be in attendance! :)
0 votes 5 answers Share Flag
Fri Nov 4, 2011
Phyllis McArthur answered:
Hi Harpreet, Maybe, however the future home value is still uncertain. If your talking about Stanaslaus county, it might be even more uncertain, because as you probably already know, that county has been hit very hard in this economy. Even Tuolumne county is in a fragile state. ... more
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Thu Oct 20, 2011
Paul Rinde answered:
Phase? The whole thing. But we do what we have to for our clients.
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Wed Oct 19, 2011
Robert Chomentowski answered:
I think we will find out in the next few months with the data that comes out on sales volume and prices in the coastal areas of CA that are more expensive.
0 votes 3 answers Share Flag
Thu Jan 7, 2010
Sam Shueh answered:
The investment is worth it. You get a bunch of SS forms. They teach you the right stuff making you stand out.
Yes, Nathan Mirza, cdpe looks great on your biz card. The ss will linger for several more years so you are now
finally trained.

I suggest a distance learning program so you can work at your own pace. Not sure you are a day dreamer, the speaker says so fast you may not have absorbed the material in two days.

Again if you breeze through it got a cert. w/o applying it it does not help......
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Thu Jan 7, 2010
Robert Greenblatt answered:
Hi Nathan....yes, Landlords DO get tired of tenants and toilets! Try developing a relatonship with a busy landlord/tenant attorney. He/She might prove to be a valuable resource.

Robert Greenblatt
Keller Williams
Cherry Hill, NJ
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Thu Apr 9, 2009
Aaron Lewis answered:
Think of it this way: Countrywide is getting thousands upon thousands of 'bad offers' every day. By 'bad offers' I mean those that are not at or near current market value. After all, if the seller won't be getting proceeds then they have no incentive to have it sell for top dollar, just to get an offer. Therefore, they have to have some kind of an independent professional opinion of what the value really is. It's their best way to determine the quality of the buyer's offer price.

As a professional, you are responsible for anticipating more or less the value of the home and pricing and negotiating accordingly. In other words, if you've got a home that you know really is worth $220,000 and will likely appraise somewhere around there, then you'll likely need an offer somewhere around that amount as well. If you submit an offer for $170,000 and they order a BPO or appraisal that says $220,000 then of course that's what they'll be expecting. Does that make sense?

So to answer your question, the lender will work off the price opinion that they receive, whether that's a BPO or appraisal. Therefore, you need to do a careful BPO or CMA along with whatever additional documentation you feel is necessary to support the price in the accepted offer you are giving them. Otherwise, it will be a disappointment all the way around.

Best of luck!

Aaron Lewis
Team Leader, The Lewis Team
Prudential California Realty
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Fri Dec 19, 2008
Jennifer Carstensen answered:
Greg, if you ever need a Realtor in the Memphis area, let me know...

Jen Carstensen
Keller Williams Realty
0 votes 4 answers Share Flag
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