It should come as NO surprise to real estate agents, that your responsibility is to your client.  A big part of that job is to inform and advise your clients, to be as sure as you can be, that they understand the process.

What we have going on now is predatory behavior, or sleight of hand, among some groups.  Well finally in NC here is a new law, House Bill 422-Unfair Real Estate Agreements Act.  Yes that was a bill; now it is a law.  It is my sincere hope that this law will push back the large corporations who promise one price and come back with a lower one, making it appear to be mandatory.  I also hope it will quash (yes quash, not SQUASH) the small print paragraphs that obligate clients to forty years of ‘loyalty’, or else.

I am a data person, and I have collected the prices paid, and prices sold after the flips, and yeah, there’s an algorithm.  The mantra is the same one we’ve heard for ages: Buy low, sell high.  The problem is that sellers are being given a lowball number of value for their homes, when 90 days later, that is clearly proven to be untrue.

I try to get the truth to my clients and I show them spreadsheets of data to prove it.  Now, some people will give up forty grand to keep from hiring a contractor to paint a wall.  That’s on them.  But I get furious when I see what I call predatory behavior by companies or corporations.

So let’s hope this law will do two things: 1) push these predators back into their dark holes; and 2) force real estate agents to spend time learning what loyalty to their clients means.

One thing mentioned in reporting about this law is that often seniors are targeted.  Well, that’s why I love working with seniors.  I take time with them and always enjoy the ‘visit’.  It is important to me that THEY be situated to make good decisions.  So if you don’t know how to do that, send your senior clients to me. I’ll give them the time and information they need.

Check out this law.