The cult of professional specialists

[CA renter]

[quote=drboom][quote=bearishgurl]Should you ever face a court hearing without an attorney, due to your “strong DIY ethic,” I am in hopes that you will handle it with aplomb![/quote]

Maybe, but that’s not amateur hour so I’ll never find out unless it’s small claims court. I’ll have a lawyer.

The main problem for the non-professional, just as in the RE world, isn’t the law; it’s all the process stuff. Rules of evidence and procedure are weapons, and you have to do it everyday to have a decent chance. It’s set up by and for lawyers, of course, so there again we have a monopoly tax.[/quote]

Exactly. Most transactions are made more complex than they need to be in order to scare people into using “professional services.”

[CA renter]

[quote=sdrealtor]CAR
Yes there are lots of buyers who back of SS. One of the most important things I can do on a SS is be able to recognize which buyers are most likely to stick. Experience has shown me that buyers represented exclusively by good experienced agents do a much better job at this. They stay in touch with me and I provide them update regularly. The agent recognizes my experience and track record and they know I will get done for them what I claim. Done properly the process works. On the otherhand, experience has shown that the buyer who calls me directly on a short sale is running all over the place dropping offers with several different agents/properties and will buy the 1st one they like that comes through. They have no confidence in the process and no way to differentiate between someone who knows how to get a SS done and someone who has less than a 50/50 chance so they play that game. Those people are far more dangerous to my seller clients outcome so I try to find a committed buyer who has a real reason to buy a specific house. When I hear someone tell me the buyer grew up in the neighborhood and their family lives there I smile. When I hear someone tell me my client is an investor I frown because I know that person has no affinity for the property and will buy anything else that makes $ and cents.[/quote]

So, it sounds like these are very serious buyers who are concerned about their botttom line. It hardly sounds like a seller is “wasting their time” with such buyers. Either they accept the offer and it goes through, or it doesn’t. The worst thing a buyer can do is get emotionally attached to a particular house; it makes them do foolish things.

[CA renter]

[quote=sdrealtor]CAR
Yes there are lots of buyers who back of SS. One of the most important things I can do on a SS is be able to recognize which buyers are most likely to stick. Experience has shown me that buyers represented exclusively by good experienced agents do a much better job at this. They stay in touch with me and I provide them update regularly. The agent recognizes my experience and track record and they know I will get done for them what I claim. Done properly the process works. On the otherhand, experience has shown that the buyer who calls me directly on a short sale is running all over the place dropping offers with several different agents/properties and will buy the 1st one they like that comes through. They have no confidence in the process and no way to differentiate between someone who knows how to get a SS done and someone who has less than a 50/50 chance so they play that game. Those people are far more dangerous to my seller clients outcome so I try to find a committed buyer who has a real reason to buy a specific house. When I hear someone tell me the buyer grew up in the neighborhood and their family lives there I smile. When I hear someone tell me my client is an investor I frown because I know that person has no affinity for the property and will buy anything else that makes $ and cents.[/quote]

So, it sounds like these are very serious buyers who are concerned about their botttom line. It hardly sounds like a seller is “wasting their time” with such buyers. Either they accept the offer and it goes through, or it doesn’t. The worst thing a buyer can do is get emotionally attached to a particular house; it makes them do foolish things.

[CA renter]

[quote=sdrealtor]CAR
Yes there are lots of buyers who back of SS. One of the most important things I can do on a SS is be able to recognize which buyers are most likely to stick. Experience has shown me that buyers represented exclusively by good experienced agents do a much better job at this. They stay in touch with me and I provide them update regularly. The agent recognizes my experience and track record and they know I will get done for them what I claim. Done properly the process works. On the otherhand, experience has shown that the buyer who calls me directly on a short sale is running all over the place dropping offers with several different agents/properties and will buy the 1st one they like that comes through. They have no confidence in the process and no way to differentiate between someone who knows how to get a SS done and someone who has less than a 50/50 chance so they play that game. Those people are far more dangerous to my seller clients outcome so I try to find a committed buyer who has a real reason to buy a specific house. When I hear someone tell me the buyer grew up in the neighborhood and their family lives there I smile. When I hear someone tell me my client is an investor I frown because I know that person has no affinity for the property and will buy anything else that makes $ and cents.[/quote]

So, it sounds like these are very serious buyers who are concerned about their botttom line. It hardly sounds like a seller is “wasting their time” with such buyers. Either they accept the offer and it goes through, or it doesn’t. The worst thing a buyer can do is get emotionally attached to a particular house; it makes them do foolish things.

[CA renter]

[quote=sdrealtor]CAR
Yes there are lots of buyers who back of SS. One of the most important things I can do on a SS is be able to recognize which buyers are most likely to stick. Experience has shown me that buyers represented exclusively by good experienced agents do a much better job at this. They stay in touch with me and I provide them update regularly. The agent recognizes my experience and track record and they know I will get done for them what I claim. Done properly the process works. On the otherhand, experience has shown that the buyer who calls me directly on a short sale is running all over the place dropping offers with several different agents/properties and will buy the 1st one they like that comes through. They have no confidence in the process and no way to differentiate between someone who knows how to get a SS done and someone who has less than a 50/50 chance so they play that game. Those people are far more dangerous to my seller clients outcome so I try to find a committed buyer who has a real reason to buy a specific house. When I hear someone tell me the buyer grew up in the neighborhood and their family lives there I smile. When I hear someone tell me my client is an investor I frown because I know that person has no affinity for the property and will buy anything else that makes $ and cents.[/quote]

So, it sounds like these are very serious buyers who are concerned about their botttom line. It hardly sounds like a seller is “wasting their time” with such buyers. Either they accept the offer and it goes through, or it doesn’t. The worst thing a buyer can do is get emotionally attached to a particular house; it makes them do foolish things.

[CA renter]

[quote=sdrealtor]CAR
Yes there are lots of buyers who back of SS. One of the most important things I can do on a SS is be able to recognize which buyers are most likely to stick. Experience has shown me that buyers represented exclusively by good experienced agents do a much better job at this. They stay in touch with me and I provide them update regularly. The agent recognizes my experience and track record and they know I will get done for them what I claim. Done properly the process works. On the otherhand, experience has shown that the buyer who calls me directly on a short sale is running all over the place dropping offers with several different agents/properties and will buy the 1st one they like that comes through. They have no confidence in the process and no way to differentiate between someone who knows how to get a SS done and someone who has less than a 50/50 chance so they play that game. Those people are far more dangerous to my seller clients outcome so I try to find a committed buyer who has a real reason to buy a specific house. When I hear someone tell me the buyer grew up in the neighborhood and their family lives there I smile. When I hear someone tell me my client is an investor I frown because I know that person has no affinity for the property and will buy anything else that makes $ and cents.[/quote]

So, it sounds like these are very serious buyers who are concerned about their botttom line. It hardly sounds like a seller is “wasting their time” with such buyers. Either they accept the offer and it goes through, or it doesn’t. The worst thing a buyer can do is get emotionally attached to a particular house; it makes them do foolish things.

[njtosd]

[quote=drboom]. . . It’s set up by and for lawyers, of course, so there again we have a monopoly tax. . . [/quote]

Technically, things like real estate, law, medicine, etc. are not monopolies. In a true monopoly, it is impossible to enter the monopolized area. On the other hand, these professions do have high barriers to entry. The question that you have to ask yourself is which is the better deal – doing whatever is necessary to overcome those barriers in order to enter the profession (as bearishgurl described), or paying for the services of someone else who has overcome the barriers. It’s very dependent on what you want to do in life and in business.

[njtosd]

[quote=drboom]. . . It’s set up by and for lawyers, of course, so there again we have a monopoly tax. . . [/quote]

Technically, things like real estate, law, medicine, etc. are not monopolies. In a true monopoly, it is impossible to enter the monopolized area. On the other hand, these professions do have high barriers to entry. The question that you have to ask yourself is which is the better deal – doing whatever is necessary to overcome those barriers in order to enter the profession (as bearishgurl described), or paying for the services of someone else who has overcome the barriers. It’s very dependent on what you want to do in life and in business.

[njtosd]

[quote=drboom]. . . It’s set up by and for lawyers, of course, so there again we have a monopoly tax. . . [/quote]

Technically, things like real estate, law, medicine, etc. are not monopolies. In a true monopoly, it is impossible to enter the monopolized area. On the other hand, these professions do have high barriers to entry. The question that you have to ask yourself is which is the better deal – doing whatever is necessary to overcome those barriers in order to enter the profession (as bearishgurl described), or paying for the services of someone else who has overcome the barriers. It’s very dependent on what you want to do in life and in business.

[njtosd]

[quote=drboom]. . . It’s set up by and for lawyers, of course, so there again we have a monopoly tax. . . [/quote]

Technically, things like real estate, law, medicine, etc. are not monopolies. In a true monopoly, it is impossible to enter the monopolized area. On the other hand, these professions do have high barriers to entry. The question that you have to ask yourself is which is the better deal – doing whatever is necessary to overcome those barriers in order to enter the profession (as bearishgurl described), or paying for the services of someone else who has overcome the barriers. It’s very dependent on what you want to do in life and in business.

[njtosd]

[quote=drboom]. . . It’s set up by and for lawyers, of course, so there again we have a monopoly tax. . . [/quote]

Technically, things like real estate, law, medicine, etc. are not monopolies. In a true monopoly, it is impossible to enter the monopolized area. On the other hand, these professions do have high barriers to entry. The question that you have to ask yourself is which is the better deal – doing whatever is necessary to overcome those barriers in order to enter the profession (as bearishgurl described), or paying for the services of someone else who has overcome the barriers. It’s very dependent on what you want to do in life and in business.

[sjglaze3]

This is an interesting thread. I’ve often wondered how realtors can justify their 6% fee. I sold my house in England 10 years ago and spent 1.5% on the commission. This is typical over there – I just googled it and 1-2% is still the norm. Then again, the total sales contract for the UK house ran to about 3 pages! When I bought a house over here, it took 30 pages just to make an offer. I was blown away by the difference. It seems to me that the whole process has been hijacked by lawyers and the term “buyer beware” which covers real estate transactions abroad doesn’t apply here.

[sjglaze3]

This is an interesting thread. I’ve often wondered how realtors can justify their 6% fee. I sold my house in England 10 years ago and spent 1.5% on the commission. This is typical over there – I just googled it and 1-2% is still the norm. Then again, the total sales contract for the UK house ran to about 3 pages! When I bought a house over here, it took 30 pages just to make an offer. I was blown away by the difference. It seems to me that the whole process has been hijacked by lawyers and the term “buyer beware” which covers real estate transactions abroad doesn’t apply here.

[sjglaze3]

This is an interesting thread. I’ve often wondered how realtors can justify their 6% fee. I sold my house in England 10 years ago and spent 1.5% on the commission. This is typical over there – I just googled it and 1-2% is still the norm. Then again, the total sales contract for the UK house ran to about 3 pages! When I bought a house over here, it took 30 pages just to make an offer. I was blown away by the difference. It seems to me that the whole process has been hijacked by lawyers and the term “buyer beware” which covers real estate transactions abroad doesn’t apply here.

[sjglaze3]

This is an interesting thread. I’ve often wondered how realtors can justify their 6% fee. I sold my house in England 10 years ago and spent 1.5% on the commission. This is typical over there – I just googled it and 1-2% is still the norm. Then again, the total sales contract for the UK house ran to about 3 pages! When I bought a house over here, it took 30 pages just to make an offer. I was blown away by the difference. It seems to me that the whole process has been hijacked by lawyers and the term “buyer beware” which covers real estate transactions abroad doesn’t apply here.

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