Principal Broker of Beach Properties of the Hamptons - True North Realty Associates, on the east end of Long Island. Providing excellent reserach and service to those buyers looking for incredible investments to live in and enjoy.
Marc- Profoundly enuff, this is the antithesis of NAR and "Realtor" practices today. Hide, hoard and hope will lead to the extinction of the modern-day Realtor as we know it. Look at Wall Street for cues as to what a lack of transparency results in...the only difference is, Realtors don't have the bully pulpit and power to bring the US Government to it's knees to enact protectionist laws and bailouts. Michael Daly The Hamptons Real Estate Blog
Diane, I agree with Emmanuel. It is very diplomatic of you to report on how the "sellers" fudge listing info. My experience is that the agent is often a partner, if not the originator, in the 'exaggerations' such as waterfront, waterview, last of it's kind, square footage, number of bedrooms and value. It's one of the reasons that real estate agents are so low on the list of trusted professionals AND a big factor in why I have decided to become an exclusive buyers broker - see: http://thehamptons.wordpress.com/2008/09/16/hamptons-real-estate-buyers-bloga-buyers-brokerage/ In the extremely competitive listings market of the last 6-7 years, agents have bid up the offering prices of homes in order to secure the listing - after all, listings WERE guaranteed income from 2000 - 2005. I'm sure those days will come again, but in the meantime, consumers have become better educated and more aware and exaggerated listings won't even get a second look. The new term in town: Moral Hazard Michael Daly The Hamptons Real Estate Blog
Joan, Agree totally about the "chandelier" effect, however that's the point of the article; understanding that it's natural for buyers and sellers to experience highs and lows, attachments and detachments throughout the entire process and if we don't manage those moments properly, the deal could be lost for the wrong reason. BTW, those buyers who didn't buy that house over the armchair, later regretted it and if the agent was mature and sophisticated enough to stay in control, it would've been a different story...md Michael Daly The Hamptons Real Estate Blog
