What do sellers and salespeople need to disclose when selling properties? Mark Weisleder presents some key lessons.

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7 COMMENTS

  1. While CREA has always expressed a strong interest in the physical form and basic interpretation of their trademarks, the real value of these marks comes down to what they actually represent to consumers. The outcome of the “advocacy inspection” referred to herein by: Brian Martindale is the kind of experience I would expect consumer’s to be subjected to the majority of time (perhaps as high as 9 out of 10) based on my own observations. In short, the summary reason for this is simply because organized real estate is not a true profession.

    Were CREA to have had any kind of a proper sense of where this industry stood in terms of the general delivery of services in 2010 or even now, CREA should have realized that “mere postings” would have the potential to profoundly further damage their trademarks, as the goodwill that had been attached to them previously was already being called into question anytime someone expressed a doubt about REALTOR value.

    Should VOW’s (Virtual Organization Websites) prevail into our marketplace, they will primarily serve to further challenge REALTOR value, and basically help to foster a clerk like mentality — which already seems to be something of a problem within the ranks of organized real estate. I see VOW’s as being, potentially, the final event to decide the future of organized real estate, because should they become the norm they will further define organized real estate as a, semi, self-serve industry and further open the door for a level of service that will be sought elsewhere.

    • Bob:
      Sadly, far too many registrants don’t know/remember (or care to know/remember)those things that they should know/remember. During the heat of the chase…I mean…the pitch, too many registrants do what comes to mind quickly and easily, that is, they say things that will quickly advance the potential client toward that pot-of-gold at the end of the rainbow…the listing, or, the offer-to-purchase. The pull of the pay-off is just too strong for the financially desperate, the registrant trying to be number one that month (or year) in the office, the polished, slick operator who doesn’t like ‘anyone’ to escape his/her clutches, or the newbie registrant who is trying to balance being ethical with proving to himself/herself that he/she can actually “do it”. Doubly sad, far too many registrants on any given day fall into the categories listed above. Mark’s video, with Marks’ permission, should be shown at every-other weekly sales meetings for fifty-two straight weeks, and then again for the next fifty-two weeks, ad infinitum, due to the ridiculously constant turnover of registrants.
      Yesterday, I conducted an advocacy inspection of a listed property for my client. We arrived at the subject rural property five minutes early. The listing sales person arrived five minutes late. I had already determined that the siding was aluminum. The listing stated that the siding was vinyl/aluminum. When asked about the siding, the salesperson said it was vinyl. Not a speck of vinyl anywhere. I could see that the foundation was concrete block. I asked what the foundation construction was, because the listing said it was concrete. I said “It looks like block.” The salesperson said “I think it’s poured concrete from the surface down beneath the exposed blocks.” Of course it was not. An internal inspection of the basement revealed blocks to the footings. The property had some water frontage. I asked what the riparian rights were. The registrant said “Oh, we don’t bother with kind of stuff any more.” Luckily I am very good at maintaining a poker-face. The property consisted of one hundred acres of bush. The salesperson offered, unsolicited, that the acreage was worth three-thousand dollars an acre a few years ago, but was now worth five thousand dollars an acre. The registrant offered, unsolicited, that the house (about forty-years old) was structurally good, but that it needed some sprucing up. How did the registrant know if it was structurally good?…I wondered. The registrant did not know what kind of siding the house was clad with; the real estate professional did not know what the foundation construction was; the professional Realtor did not know what the riparian rights were; the real estate expert did not know what the property was worth. (It was listed at $599,000., the MPAC valuation was $349,500.). To top it all off, the Realtor drove a vehicle listed online by various automotive experts as the worst vehicle on the road regarding dependability, reliability, driveability and safety. How hard can it be to know what one’s listed property consists of or what kind of vehicle is best to own within one’s affordability range when all of the information for both categories is readily at hand for those not lazy not enough to do their due diligence?
      The computer age has spawned the lazy-Realtor age methinks, and therefor, Mark’s message should be rammed down the throats of every last wannabe, newbie, survivor, hot-shot and no-shot. The consumer deserves better than what he/she is getting.
      Bob: what percentage of the current Realtor population do you think should get out of the business, based upon your criteria for doing so? This is a serious question my friend.

  2. I have attended countless courses over the years and the ones that were best delivered were given by Lawyers. Mark made a number of suggestions here that have never been made in a Board Course in front of me, for example: don’t be shy about moving things around or looking under things to find potential patent defects.

    We’re far from the point where we should express any contempt or disdain, in regards to a seasoned property Lawyer offering up any kind of a primer that relates to the proper approach to trying to be professional, in the course of selling real estate.

    It would be stupid to feign ignorance instead of following Mark’s advice — as it would be beyond naive for a real estate practitioner to think that they would be building their business up, instead of down, when their client has a disappointing closing. The first generation of “discount brokers” pounded a lot of deals together and yet they seem to be prospecting harder than ever, now! It is far easier to live up to one’s obligations to be honest and forthright, if you have any expectations of this business ever becoming easier and even then!

  3. Mark’s video is an excellent learning tool for the naïve-at-heart Realtor who hopes and prays his/her way through listing and showing properties for/to consumers respectively. One would think that Mark’s advice would not be needed to be repeated to licensed professionals, but it does. Why? Because it is far easier to feign ignorance than to live up to one’s responsibilities to be honest and forthright in the face of whether one will “earn” a commission, or not…immediately…as opposed to later…maybe. Mark’s advice is akin to a police officer telling a licensed driver that he/she must stop at red lights and stop signs; that he/she must not leave the scene of a collision that one has been involved in; that he/she must not drink and drive etc. Yet many drivers do all of the foregoing routinely, just as far too many registrants routinely do what Mark advises against, because…it is easier that way. It is easier to collect more commissions and listings with fingers crossed that it is to always do the right, thus, morally and ethical thing, not to mention the courtroom-avoidance thing.

  4. Basic information taught in any real estate course and fundamental to any Realtors daily practise. Should never require repeating, Redundancy at best. So it’s really just a free ad for the legal firm. Quality work REM Editor.

    • Craig, based on your comment, one practice session should be sufficient for the Blue Jay’s to have a winning season since additional practice would be redundant?

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