Herbert Genelly III

While I think this article has some validity (change is coming), the bottom line is simple; convincing a consumer why a Real Estate agent is relevant in the home-buying or selling process. Where is the value added for the 6% commission? Certainly not in the absolute lack of coherent and extensive educational standards to become an agent? Let's see....an Appraiser in CA needs 2000 hours of field time prior to licensure. An Agent needs 0 hours? It's not in the employment standards, as Real Estate is the ONLY job where the potential "employee" (agent) interviews the boss (broker), and can move at will to brokerage after brokerage. OK Mr. Broker....I promise to sell 12 units this year! It's interesting to see a Broker prance around after "Cleaning House", only to bring in another group of newly licensed agents with the "Deer in the Headlights" expressions on their faces. "Stay clear of the Sharks" newbie’s, start knocking on doors, listening to Brian Buffini, and do your pop-by's! And there's no "Company Loyalty" in a business model where people who work under the same roof are so cut-throat, and compete against each other, as opposed to working to accomplish a common goal. You know a system is broken when Brokers simply need warm bodies in chairs to gather the newest "Sphere of Influence" in the hope of grabbing a few sales. Just wait for an internet based Real Estate website that can automate a process where a buyer can communicate with a seller directly, fill out forms on-line, bid like Ebay and proceed under the watchful eye of a few agents for a fixed fee!

Where is Zip? They are in the top 10 Real Estate Companies in the U.S., but are in only about 30 major markets.

The difference between a Loan Modification Company, and a Real Estate Professional, is that a Realtor has to successfully negotiate the transaction to get paid. The Loan Mod Service gets money up front...with no guarantees....hummm! Next...who is only upside down by 5%? Our market declined in CA over 35% (or more) in some areas. Interestingly, 40% of all home sales during the "Boom" were second homes. Investors are colecting rent...but no mortgage is being paid...except for us tax payers. And what's going to happen to all the Jumbo Sub-Primes that convert in 2010/2011? 90% of homeowners who have that loan product are paying interest only...yes 90%! There maybe some good, decent, Loan Mod companies out there, but I just had a client who was told by one company: Don't pay your mortgage for 90 days (so the lender will be motivated to work with them)...pay us $2800 up front, and we'll see what we can do...and...don't worry about your credit score...it's only going to be a problem for a few years! And no Written Guarantee? Good work if you can get it...right? Upside down homeowners should go to the HUD website to get all their questions answered first. Then they can make an informed decision.