Awesome presentation. 3 additional comments and someone else may have already pointed it out. First, Realtors are members of the National Association of Realtors and adhere to a Code of Ethics which I am sure the iBuyers do not have. As independent Buyers they have no Code. Secondly, in most states there is a Consumer Protection Agency, here in Texas it is called the Texas Real Estate Commission. Those agencies work for the consumer not the Realtor and regulate and discipline agents that get out of line. I also doubt that there is anyone looking over the shoulders of the iBuyers. Thirdly, along with the other impacts to the community is the lowball sales of properties which can impact appraisal values although it is not unusual for the iBuyers to insist that the property not be listed in MLS so that they do not have to report the low sale price where it is easily noticed by appraisers. But in disclosure states an appraisal could be impacted by the lowball sales.
I have been a Realtor since the 80’s and although I was always proud of my designation of “Realtor” I have not always approved of the way NAR did, or did not do things. When the iBuyer business model first surfaced I forewarned my brokerage and my local MLS, that this would cause a problem to our industry, more so than discount brokerages. The iBuyer model, like builders do not need to be licensed because they are buying and then selling their own properties. As such, no government oversight. After reading the comments for today’s broadcast and those of June 7th, I am seriously considering NOT renewing my NAR membership when it comes due.
MBS Highway is a communication tool that will help you improve your batting average and turn more conversations into applications. Every morning, you’ll receive a coaching video from Barry Habib which will help you beat your competition and be a true advisor in this rapidly changing environment.
The National Association of Mortgage Brokers is the voice of the mortgage industry representing the interests of mortgage professionals and homebuyers since 1973.
In addition to mandating members adhere to a professional code of ethics, NAMB provides mortgage professionals with education opportunities, and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education.
Ryan Hills and his team over at the RESource are great friends of ours. Tune-in their latest weekly episode right here on the home page of the National Real Estate Post. Ryan delivers fantastic content beneficial for both mortgage and real estate professionals.
Andrew Berman is a wonderful friend of the NREP Daily. His MNN shows are always insightful with great guests. Be sure to tune-in to MNN right her on the National Real Estate Post to see what Andrew has in store for you. Great content for mortgage and real estate pros alike!
Shred Media is the first professional development agency for the real estate & mortgage industry. Shred Media was created for industry professionals by industry professionals. We understand that you have to stand out to stay relevant to today’s consumer. That is why we are hustling daily to build a community where today’s top influencers and thought leaders come together to collaborate.
Two of our favorite guys over here at the NREP Daily. Ray and Dan are true leaders within the real estate industry and their weekly shows prove it. They bring great content and amazing guests to you in a fun and interactive way. Be sure to visit them by clicking the button below so you get notified when they go "live" on Facebook. Trust us, these guys are great!
Awesome! Can we agents use this too? Great job gentlemen!
Best line: “They have a Fiduciary Duty–to their Share Holders!! –Not you!!.” Thank you guys for Being so Awesome!
Super useful!!!Good job!
Awesome presentation. 3 additional comments and someone else may have already pointed it out. First, Realtors are members of the National Association of Realtors and adhere to a Code of Ethics which I am sure the iBuyers do not have. As independent Buyers they have no Code. Secondly, in most states there is a Consumer Protection Agency, here in Texas it is called the Texas Real Estate Commission. Those agencies work for the consumer not the Realtor and regulate and discipline agents that get out of line. I also doubt that there is anyone looking over the shoulders of the iBuyers. Thirdly, along with the other impacts to the community is the lowball sales of properties which can impact appraisal values although it is not unusual for the iBuyers to insist that the property not be listed in MLS so that they do not have to report the low sale price where it is easily noticed by appraisers. But in disclosure states an appraisal could be impacted by the lowball sales.
That was really good! I am with some others here, how do we as real estate agents get the presentation?
I have been a Realtor since the 80’s and although I was always proud of my designation of “Realtor” I have not always approved of the way NAR did, or did not do things. When the iBuyer business model first surfaced I forewarned my brokerage and my local MLS, that this would cause a problem to our industry, more so than discount brokerages. The iBuyer model, like builders do not need to be licensed because they are buying and then selling their own properties. As such, no government oversight. After reading the comments for today’s broadcast and those of June 7th, I am seriously considering NOT renewing my NAR membership when it comes due.
Cute hook to sell listing booser.
Do check your math -$240,000-$215,000?
There are some valid points here and the general consumer is not equipped to review this option on their own.
Thanks for sharing – this helps in the presentation process.
R
I would love to get a copy of this actual presentation. Could you please share?
Respectfully
I am an agent in Tampa FL…. any lenders in the area using Listing Booster? I want to add this to my toolbox!