Saturday, December 06, 2008

Realtors Bailing OUT! You could be an ORPHAN!

After visiting with the CEO of a local board of Realtors this last week it was clear they were worried about losing up to 20% of their membership at this dues renewal cycle (January 1st).
Of course this means a major reduction in income for the organization but for the public, it should be seen as a warning. Dues are not excessive and should not be a major stumbling block to someone who is committed to get you the right deal.

An "ORPHAN" is a client who hired a brokerage company to represent them and the Broker Associate they were working with is no longer in the employ of the brokerage company, or no longer a Realtor. Therefore the brokerage company assigns a new broker associate to assist the client. But there is no relationship after that. When you hear someone say "My Realtor quit the business" pass along my name (OH that was an un abashed plug...shame on me!-).

It is also possible that the Realtor you are choosing to represent you is NOT full time in the business and therefore will not be up to date on some of the nuances of the marketing a home, getting qualified prospects through the door, negotiating a good deal, or working through the myriad of closing challenges! These are the folks who are typically finding the expenses of license renewal and MLS membership and association membership to be too high. And they are not a "REALTOR" subscribing to the Code of Ethics unless they do belong to the National Association of Realtors.

The other thing that is culling some of the Realtor community out of the business is the State of Colorado licensing fees are close to doubling for Brokers! Now, it would not seem as though this was a big deal as it is only another $200 but I cannot tell you how many times I have heard someone proudly declare they have a real estate license only to learn it is "ON ICE".

"ON ICE" is an indusrty term meaning the real estate license is not active for non-payment of license fees. And in reality it is another way of saying "I am not going to spend the money until I find a deal to pay for it with". No matter how good the friend, you have to be able to judge the character of the person telling you this. I had some friends who started me in this business but they knew me and my character for many years before.

Further, this means they should not have access to the MLS, unless they are paying non-member dues and fees. "I have a deal with my broker" means the person you are speaking with is willing to at least bend if not break the rules.

So the point of this post then is to warn the public that there are some who are desperate enough to do anything to make a deal. Even though that deal might NOT be good for the client. Just be careful who you hire! It would be my pleasure to help.

23 years of experience can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado, we offer real estate advice, properties for sale, idx multiple listing service, property listings, mls via IDX, all available at Drop me a note to

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