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Real Estate is the only transaction where neither party is directly involved

I have been trying to think of any other negotiations where neither of the main parties is directly involved. Help me out. Give me some examples where both parties are represented by an agent and never have direct discussions.

  • December 13 2008 - US
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Answers (38)

A major difference between attorneys and RE agents is that attorneys are paid to assess the strengths and weaknesses of their client's case and counsel them concerning their likelihood of success at trial in connection with determining what an appropriate settlement is.  There is much more involved there than looking at inventory numbers and recent sales comps.

 

Sorry - just had to throw that in.  8)

  • December 13 2008
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Oh - and if the case doesn't settle, you go to trial.  A tad more complicated than piling into the Beemer to hit the next round of showings.  K, I'll stop now.

  • December 13 2008
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Profile picture for Lady Chattel

LOL K101.   And in the case of a divorce the lawyers get everything so do try and go to arbitration first where you are face to face with your soon to be ex and try and work it out before you fight and give it all the da lawyer.   My mom had a case where the hub and wife were so out to get each other and they both had over $100K in lawyer fees and it wasn't until the dust settled that they realized how stupid they had been how their attempt to hurt the other actually hurt them both (financially).  (oh, and lawyers getting divorced are the worst)  

 

 

Interesting thread topix, thanks

 

  • December 14 2008
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Sellamaze, 

 

LOL!

  • December 14 2008
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sellmaze:

 

The two sides can sit down and negotiate together. It does take two sides willing to do this. I have arranged it several times. Not every buyer or seller wants to be put in that position. In fact, this often happens with new construction.

  • December 14 2008
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K101,

I find it amusing that you compare the actions of Agents who perform the least amount of work in the RE industry to everything.  If you are going to do that, maybe we should be comparing Attorney's lowest common denominator... maybe Ambulance Chasers, I don't know, whatever the lowest would be.

 

I know many RE Agents who are routinely employed to perform valuations for Estates, whose expert opinion is used to  mediate disputes over Estates or other RE issues.  These Agents are paid by the hour and the burden of their expertise goes much further then just pulling comps and making sure they have a clean car.   I realize that we are talking specifically about residential home sales, but it still applies because selling residential homes is only one piece of being an RE expert.

  • December 14 2008
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Chutta, it sounds like you are referring to expert witnesses or consultants.  What percentage of the members of your industry do you think perform those roles?  Now - what percentage do CMAs and pile into the Beemer for showings?

For the record, ambulance chasers aren't much different than any other attorney that takes cases on contingency fee.  The work involved with those cases is generally of the same degree of difficulty.  They are the lowest common denominator because of their tactics in generating clients.
  • December 18 2008
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What percentage of the members of your industry do you think perform those roles?  Now - what percentage do CMAs and pile into the Beemer for showings?

I don't have that sort of data...  I'm sure that a greater portion are the latter.  The low barrier to entry for the industry and the highly visible nature of residential sales does lend to your seeing the worst.

I was at a Christmas Party last night in Honolulu, I would say at least 1/3 of the 300 people there were in Real Estate and I would put the majority of them in the Former category.

There are highly intelligent, higly competent people in RE that happen to do Residential Sales, but also do much more.  I would put Asset Managers, Corporate Real Estate Agents, also Boutique REA company owners, many many people on par both in education and importance of work performed with Attorneys.
  • December 18 2008
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