Inappropriate Marketing Strategy by Realtor

[urbanrealtor]

[quote=CDMA ENG]I’ll say it.

He is a F$@King jerk.

Think about the shit this asshole has caused.

Things are bad out there for a lot of ppl (financial stress, whatever) and I am sure he has placed one of these letters into the mailbox of a couple who was having problems. Then one spouse starts thinking the other one has seen a lawyer and before you know it… Self-fulfilling prophecy…

Hope a car runs over his foot.

CE[/quote]
I that is a bit harsh but then again, you can’t even say Fuck, so clearly we don’t agree on everything.
And I do believe reasonable people can disagree.

[CDMA ENG]

[quote=urbanrealtor][quote=CDMA ENG]I’ll say it.

He is a F$@King jerk.

Think about the shit this asshole has caused.

Things are bad out there for a lot of ppl (financial stress, whatever) and I am sure he has placed one of these letters into the mailbox of a couple who was having problems. Then one spouse starts thinking the other one has seen a lawyer and before you know it… Self-fulfilling prophecy…

Hope a car runs over his foot.

CE[/quote]
I that is a bit harsh but then again, you can’t even say Fuck, so clearly we don’t agree on everything.
And I do believe reasonable people can disagree.[/quote]

You must have been tired when you wrote this. The sentence doesn’t flow well. What was the point again?

I know I am not your favorite person on this board but mind reiterating?

And your right… I should have just said Fucking Jerk.

This is not aimed at your profession. Just him.

CE

[urbanrealtor]

I have a 60 day old baby and am the proprietor of a new business in a depressed market segment (real estate).

So yes, I am pretty much always tired when I write.

All I was saying is that I think sweeping statements as to this guy’s character is an over statement.
He may very well be a jerk but clumsy and careless marketing does not convince me of that.

A few years ago, several agents in my office (back when it was a different company) put together the REPO EXPRESS TOUR (I lobbied to call it “REO Speedwagon but that was apparently taken).
We piled clients in a bus and showed them like 5 REO’s on a Sunday morning.
This was just before “deals on the bus”, and several others started.
It fell apart and really annoyed a lot of people.
I think I was the only one to ever close any deals off of that particular stunt.

The upshot was that the broker spent a lot of money, wasted a lot of time, and caused a lot of people to dislike her and the firm.

Whether or not she was a jerk is debatable but she had no ill intent other than getting bank-owned houses sold.

My point is this:
Its easy to have a tin ear as a small business owner doing one’s own marketing.
Its very easy to piss people off without meaning to.
I suspect this guy’s primary liability is just tone-deafness (that and having gone to BYU).

[UCGal]

[quote=urbanrealtor]
As far as not using Realtors:

On the seller side:
Avoiding paying commissions is a good idea if you can swing it.
HOWEVER, if you sold in a week as a FSBO, you probably did not get full market value.
That’s just the reality of today’s market.
But I put my money where my mouth is.
If you want, we will get a past appraisal done by Todd Lackner (whose integrity is pretty much beyond reproach) and if I am right, you pay for it and if I am wrong I will pay for it.
I am betting you sold at a discount.
PM me.
[/quote]

I’m just curious whether this appraisal would reflect the NET that Aecetia pocketed (no realtor fee paid) – or the gross, which he’d have to reduce by the realtor fee.

I suspect the FSBO was a win-win. That Aecetia pocketed more money, and the buyer got a below market price – because no realtor fees were taken out.

But I could be wrong. I’m wrong often and regularly.

[CDMA ENG]

[quote=urbanrealtor]I have a 60 day old baby and am the proprietor of a new business in a depressed market segment (real estate).

So yes, I am pretty much always tired when I write.

All I was saying is that I think sweeping statements as to this guy’s character is an over statement.
He may very well be a jerk but clumsy and careless marketing does not convince me of that.

A few years ago, several agents in my office (back when it was a different company) put together the REPO EXPRESS TOUR (I lobbied to call it “REO Speedwagon but that was apparently taken).
We piled clients in a bus and showed them like 5 REO’s on a Sunday morning.
This was just before “deals on the bus”, and several others started.
It fell apart and really annoyed a lot of people.
I think I was the only one to ever close any deals off of that particular stunt.

The upshot was that the broker spent a lot of money, wasted a lot of time, and caused a lot of people to dislike her and the firm.

Whether or not she was a jerk is debatable but she had no ill intent other than getting bank-owned houses sold.

My point is this:
Its easy to have a tin ear as a small business owner doing one’s own marketing.
Its very easy to piss people off without meaning to.
I suspect this guy’s primary liability is just tone-deafness (that and having gone to BYU).[/quote]

But what you did was not nearly as reprehensible (actually I don’t think is was at all) as what this guy did.

Closer analogy…

Let’s say…

You are having a nice lunch with your wife minding your own business… I come up to and say “Hey dude… I saw you mackin’ down on the hot red head (meaning a mistress) Saturday night… good pull!” and walk away. Now you were out Saturday night without the wife playing basketball in the park with the boys…

What is the wife going to think? That might have been a harmless remark to the wrong person but all hell can ensue from that kind of a remark. You (not you personnally) have to think twice before doing something stupid like that.

Now for clumsy and careless… Texting while driving is clumsy and careless too but it can get someone killed.

This guy took a chance and was irresponible in pursuit of his own financial interest. Jerk qualifies.

You being an ethicist, and I mean that sincerely, would be the first guy, I would have thought, about lynching him.

P.S. I was raised Mormon… But I got better… Mormon’s have thier share of F’ing Jerks as well.

[sunny88]

That guy is looking through court documents to prey on his victims. And he thinks he’s smart….

[urbanrealtor]

[quote=sunny88]That guy is looking through court documents to prey on his victims. And he thinks he’s smart….[/quote]
Generally quitclaims don’t go to court.
Much cheaper to just go through the recorder’s office.

Funny thing.
Title rep came in the other day.
He is setting me up to get a marketing presentation from a firm that advises when any property related events take place in a designated area.

For example:
If I wanted to know when NOD’s got filed on any of my neighbors it would kick out an email to me or advise me via a dashboard.

In passing, he mentioned it could tell me when a divorce was happening (presumably via the quitclaim record).

I am terribly curious to see this presentation.

I will let you know how it goes and if this is the same (or a similar) marketing program to the one described above.

If so, I will solicit ideas for the most tasteless marketing pieces possible.

[scaredyclassic]

Does good taste matter?

[urbanrealtor]

[quote=walterwhite]Does good taste matter?[/quote]

Says the public defender to the Realtor.

[sdrealtor]

May as well welcome that title rep to the world of RESPA violations when he stops in to make his rpesentation. Thats a no-no!

[urbanrealtor]

[quote=UCGal]

I’m just curious whether this appraisal would reflect the NET that Aecetia pocketed (no realtor fee paid) – or the gross, which he’d have to reduce by the realtor fee.

I suspect the FSBO was a win-win. That Aecetia pocketed more money, and the buyer got a below market price – because no realtor fees were taken out.

But I could be wrong. I’m wrong often and regularly.[/quote]

An appraisal will list the market value.
That means the gross value.
The net is then calculated by subtracting out the seller closing costs (title insurance, comission, repairs, etc).
As a general rule, seller closing costs are between 6 and 9 percent.

Therefore if you sell for 5% under market but pay no seller closing costs (which is not easy) you could have a gross discount and a net benefit.

Lets attach some real numbers.
My friend is selling his house for $510k as a fsbo.
It has a fair market value of $540k-$570k.
His house is free and clear so some of the seller payoff administration costs do not apply.
Therefore his estimated seller costs would be about 7% if he used an agent and followed the common course.
That means a net sale of $502k-$530k with a realtor.

As it stands now, he will pay only about 1% in seller costs.
He will also cover about $5000 in repair costs.

So he will be looking at a max net of about $500,000.

In this case, the discount is costing him between $2k and $30k.

Sometimes fsbos make sense.
Sometimes they do not.

As a general rule, if your agent is not adding legitimate value, then a FSBO makes sense.

[urbanrealtor]

[quote=sdrealtor]May as well welcome that title rep to the world of RESPA violations when he stops in to make his rpesentation. Thats a no-no![/quote]

I don’t think professional referrals violate insurance or respa- related statutes.

(unlike 2004 when we all assumed our title rep would pay for the office computers and the marketing).

[sdrealtor]

My title rep had to stop providing lists of NOD’s and NOT’s about 2 years ago as its now a RESPA violation to do so. What that rep proposed sounds like ti goes well beyond that.

[UCGal]

[quote=sdrealtor]My title rep had to stop providing lists of NOD’s and NOT’s about 2 years ago as its now a RESPA violation to do so. What that rep proposed sounds like ti goes well beyond that.[/quote]
Aren’t they public record? Recorded by the county?
And can’t you get the data from sites like foreclosure radar?

Not disagreeing about it being a RESPA violation… just wondering why when the info is still public record….

[sdrealtor]

It is public information but consolidating it all and providing it in that manner is a RESPA violation.

[Author]

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