In Oregon, licensed real estate agents receive a monthly newsletter published by the Oregon Real Estate Agency (the agency which issues real estate licenses).
Along with other helpful information, the agency publishes the names of agents who are being reprimanded for failure to follow the state’s requirements for handling real estate transactions, and provides a brief on the illegal actions and penalties assessed. I think this is a very valuable practice, showing all of us the pratfalls of operating improperly, and educating us on some points on which we may have been unclear.
This month, I was amazed at a particular case… I’d love to publish the name the of agent, but since her license has been REVOKED (rather than suspended), I’m hoping I do not need to warn the public…. Here is a brief summary of her illegal actions:
- AGENT failed to properly complete a listing agreement by leaving blank the section specifying how forfeited earnest money would be disbursed;
- AGENT advertised property on the multiple listing service at a sale price lower than the listing price to which the sellers had agreed, and advertised a seller credit of $2,000 to be offered to a buyer without first obtaining the sellers’ written consent to do so;
- AGENT failed to promptly transmit the listing agreement to her principal broker for review until six weeks after it was signed;
- AGENT failed to promptly transmit a repair addendum to her principal broker for review for approximately two months;
- AGENT recommended an unlicensed contractor to the sellers in order to facilitate repairs even though the repairs in question required performance by a licensed contractor;
- AGENT executed an addendum stating that the seller would credit the buyer $2,000 for a carpet allowance, when the signature on the addendum purporting to be the buyer’s signature was not the buyer’s signature, and submitted the addendum to her principal broker for review;
- AGENT executed an addendum extending the closing date, when the signature on the addendum purporting to be the buyer’s signature was not the buyer’s signature, and submitted the addendum to her principal broker;
- AGENT submitted a broker demand instruction to escrow representing that the seller had agreed to pay a commission higher than the listing agreement stated;
- AGENT represented to her principal broker that a licensed contractor had completed a roof inspection prior to closing, had verbally told AGENT that the roof was okay, had mailed a copy of a roof inspection report to the buyer, and had told AGENT that the inspector could not comply with a request for an additional copy because his father was dying, when in fact none were true;
- AGENT executed a promissory note for earnest money without making the note payable within a stated time subsequent to the sellers’ acceptance;
- AGENT failed to transmit a copy of the entire inspection report, which included photographs, to the buyer, when AGENT received it from the inspector prior to closing;
- AGENT failed to give the buyer a copy of the executed sale agreement;
- AGENT failed to give the buyer an initial agency disclosure pamphlet at first contact with the buyer;
- AGENT failed to include the buyer’s request for a carpet allowance in the initial offer to purchase; and….
- AGENT temporarily transmitted to the sellers the original copy of the sale agreement so the sellers could review and sign the document, without keeping a copy for herself or the brokerage records.
I am sure she represents the tiniest of percentages of agents who can't do business by the rules. I don’t know her and don’t know how long she was a Realtor, but it’s a relief to be rid of her.
Let the buyer (and seller) beware. ;)
Phil Anderson
Owner/Broker
New Portland Home
a real estate services company
Most Realtors know, good staging works... Still, it's a question of expenses vs. income.
Recently, I had a condo listing for almost 4 months... (average time on the market here is 6 months). It was In an upscale area of NW Portland (Forest Heights)... reasonably priced, vacant, easy to show...yada, yada...fresh paint inside, professionally cleaned carpet and the exterior was being painted for the whole development this month. A REALLY nice property!!!! A listing agent's dream, right?
And I always got good traffic (at least 3-6 views per week).... Broker's Open, open house (flopped...they do not do well in Portland..I met some neighbors..), flyers, VFlyers, 800# on the sign, webpage for the listing. Constantly on Craig's List and other syndication sites......
I had lots of calls; lots of interest!!! But no one would pull the trigger...
Maybe it was a little cold and though no one ever gave me this feedback, I think there was a question as to, "Where will the dining table go?", or where would the couch and TV be....?
We staged it last Monday and got an offer in 6 days (accepted).
Look at the Living Room in this VT: http://www.pdxvtours.com/8028641/small.htm
Then look at the staging: http://tinyurl.com/65dxpp
I always like staging, but now I'm a staging fanatic! I'm a believer!
http://www.transformationsdesign.com
Ever feel like just punting it all? How can we feel good, during bad times?
I'm sure there are other videos out there like this, but our beloved Jay Thompson commented on this one on Twitter and his post caught my eye: http://tinyurl.com/cgnl2w
(*I don't know how long this link will work...It's an extended Honda commercial that is simply terrific.)
Has anyone ever read, "The Best Salesman In The World", by Og Mandino? He proposes training the mind to become comfortable with ideas that would help us help ourselves.
I’d have bet the farm it would be one of the original colonies along the eastern seaboard. Massachusetts? Virginia? Or maybe even Florida.
Nope.
Once again, Oregon leads the way! :)
On May 29, 1919, Oregon’s licensing law went into effect and 957 applications were received. The fee was $5 per year.
License #1 was issued on June 6, 1919, to B. Lee Paget, who then became the first, licensed real estate broker in the United States.
In the June 2009 edition of the Oregon Real Estate News-Journal, Katie Archumbault wrote about the history of the process involved in crafting the law. (*I have not been able to find the article published on the web, so I can’t supply a URL.)
Hopefully, all of us here are, among other things, highly skilled verbal communicators. Our business is based on our ability to convince others that we know our stuff, selling ourselves and our services to them, and then being able to communicate well with them.
But, so much of business (and life) falls in that "gray area", where there are no absolutes. No positively "right" answers. Do these ring a bell?:
· How much exactly is my house worth?
· If I list with you, when will my house sell?
· Does this dress make me look fat? (Just put this in to see if you are paying attention :)
I'm sure we all have lots of experience with fielding these questions, and there are probably many good responses to each.
Now, honestly, have you ever run into someone you just could not seem to "connect" with, try as you might? Whether as a Realtor or at anytime in life? And I don't mean someone who is rude to you. I'm talking about someone who is also trying, but your cylinders just won't fire on the same timing. Of course you have.
When in the presence of someone that can REALLY communicate, field the hard questions, and leave even a disgruntled party feeling valued, I try to take note. Never to old to learn, right? When asked how they did it, the reply is often, "Years of practice..."
Recently, I read a wonderful article in OREGON BUSINESS (written by Ben Jacklet..it's a heartwarming article...give it a glance!), entitled "Rose's Family Recipe". Rose Biggi was the founder and owner of a local food manufacturer, "Beaverton Foods", which began as so many do, with little cash, in a tiny facility, and created a customer base of staggering proportions. Annual sales are at $21 million now.
Something particular in the article stood out:
Rose Biggi was an oddity in Beaverton, an independent woman with a sharp foreign accent running a business her way. She also distinguished herself as a born negotiator with a gift for getting what she wanted without hurting people's feelings.
Her grandson, Domonic Biggi, vice president of the Beaverton Foods empire Rose built, still marvels at her business skills. "When someone wasn't working hard enough for her, she'd say, ‘You a nice boy, you too nice and too smart to be here. You understand me?' She always did it with a smile on her face. I had one guy tell me once, ‘It took me 20 years to realize that your grandmother fired me.'"
Now THAT's the kind of communicator I WANT TO BE!!!
This is becoming a problem here in the Portland metro area, and I'm sure it is not limited to Oregon. From our local MLS provider: |
We’ve received reports of an alleged scam targeted at real estate agents. In this particular case, an e-mail is sent to the agent and the sender says that they want to schedule a showing, but that
they want the agent to call them at their foreign phone number because they are only checking e-mail periodically.
It appears that
the phone number is a "premium rate number" where the dialer of the number is charged for the phone call, while the owner of the number receives a payment for each call that is made. Needless to say, the potential client is non-existent.
Please be wary of any new contacts that approach you and verify as much information about them as possible. Report any similar incidents to the MLS.
*Tip: If you ever find an e-mail or phone call suspicious, try entering information or a phrase about the scam (or directly from the e-mail) into a search engine. Victims, or near victims of scams will often post their experiences on the Internet so others won’t fall victim.
So, be careful out there!
Phil Anderson
(503) 789-8701
Find all the latest market action for the Portland metro real estate area.
Phillip Anderson
Owner/Principal Broker
New Portland Home
(503) 789-8701
www.NewPortlandHome.com
Looking for the lastest market information for the Portland, Oregon, metro area real estate? Click here!
Phillip Anderson
Owner/Broker
New Portland Home
(503) 789-8701
www.NewPortlandHome.com
At yesterday's NAR meeting in Washington, D.C., Shaun Donovan, the secretary of the Department of Housing and Urban Development announced a major change in policy.
Previously, as we all know, under certain conditions a tax credit of up to $8,000 could be earned by purchasing a house prior to the end of this year.
Mr. Donovan advised that the program had been changed to allow qualified borrowers to use the funds as down payment at closing through short-term bridge loans.
For more details, see this article.
Looking for the lastest market information for the Portland, Oregon, metro area real estate?
Phillip Anderson
Owner/Broker
New Portland Home
(503) 789-8701 Direct
www.NewPortlandHome.com
Looking for the lastest market information for the Portland, Oregon, metro area real estate?
Phillip Anderson
Owner/Broker
New Portland Home
(503) 789-8701 Direct
www.NewPortlandHome.com
Looking for the lastest market information for the Portland, Oregon, metro area real estate?
Phillip Anderson
Owner/Broker
New Portland Home
(503) 789-8701 Direct
www.NewPortlandHome.com
Looking for the lastest market information for the Portland, Oregon, metro area real estate?
Phillip Anderson
Owner/Broker
New Portland Home
(503) 789-8701 Direct
www.NewPortlandHome.com
Immaculate Craftsman style home
• 2,943 sq. ft., 3 bath, 4 bdrm 2 story - 
MLS® $549,000
Westhampton, Portland - Brazilian cherry floors, HUGE great room, gourmet kitchen w/ stainless steel appliances, 2 fireplaces. Large master bedroom suite w/ Jacuzzi, Butler's Pantry w/ wine cooler, paneled formal dining room and first floor office. 2 large decks, large backyard and professional landscaping!!! Near Gabriel Park and Multnomah Village. A MUST SEE!!!
Property information