I had an experience with a car salesman in the summer that strongly reminded me that the bottom line of sales is measured in units sold, not the good of the customer and it brought into sharp focus some things that have been bothering me about the way real estate is practiced in our culture.
I have come to believe that the first set of hands that a house passes through on its way to market should not be those of a salesman and have begun to entertain a radical proposition – removing...
When Buying clients of mine were able to qualify for a mortgage but not for mortgage insurance, I was really taken aback and at a loss to make sense of how that could be.
I don’t likenot understanding how things work because I don’t like being blindsided, so I asked a colleague of mine, mortgage broker Laurie Kotak, to help me. Specifically, I asked if she would be willing to “run my credit” and then use my report to teach me to see myself as a lender would see me.
I’ve had some shocking experiences over the past year which have led me to question why anyone would ever use a bank or credit union to finance a home purchase when using a mortgage broker is clearly a superior option.
Here’s the thing:
The bank rep works for the bank. Their job is to promote their employer’s mortgage “products”, of which there is probably only one – two at best – with one set of rigid qualifying rules. Because they are mandated to sell you this one product, bank reps are not requ...
Caveat Emptor is Latin for “Let the buyer beware.”
Before buyer agency became a thing in the late 90s, all real estate agents had legal obligations to sellers only.
Even when they were working for the buyer.
In the strictest interpretation of the law at the time, when a buyer made an offer at one price but told their agent they would go higher, that agent was legally obliged to disclose that tasty morsel of information to the listing agent.
You didn’t have to have integrity to realize that as...