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Elizabeth Weintraub
Stopping the Unethical Behavior of Sacramento Realtors
There are some people in this industry, like me, who really feel the pain when presented with the unethical behavior of Sacramento Realtors. Not every Sacramento Realtor, of course, is unethical. Far from it. In fact, it is a small handful of agents who are loose with their ethics. But the disturbing aspect is they know they can get away with it. There is nobody to stop them. Not the Sacramento Board of Realtors, not the Ethics Committee and most certainly not the Realtor Code of Ethics. Even brokers seems reluctant to confront the behavior.
Although I have been toying with the thought of approaching the DRE. I simply feel like when we hear about the rare incidences of unethical behavior of Sacramento Realtors that we owe a duty to the industry to say something. Otherwise, we become part of the problem.
It starts when a buyer calls to reiterate a conversation held with the allegedly unethical listing agent. The agent promises the buyer offer acceptance, but only if the listing agent double-ends the sale. Even though the agent has multiple offers from other agents as well. But lo and behold, all of a sudden the dual agency offer gets accepted. No surprise there.
First, this unethical behavior of Sacramento Realtors drives a wedge between consumers and exclusive buyer’s agents. Agents are not supposed to swipe another agent’s client. Second, it deprives the seller of the right to counter all of the buyers. Possible dishonest dealings with the selling agents. Third, it appears to openly violate the listing agent’s fiduciary to the seller. Is it possible the seller could have made a higher profit if bidding from all buyers had been allowed?
The thing is an outside party can’t prove it. The buyers probably don’t want to get wrapped up in an ethics case and will most likely vehemently deny the conversation even took place. All they want is the house, and they don’t care how they obtain it.
Obviously.
In this particular situation — of which I am not a party, btw, this is third-hand information relayed to me — it gets worse. The agent whose buyer got snatched through the unethical behavior of Sacramento Realtors was at a sewer inspection. As this coincidinky goes, the agent overhead a conversation from the sewer inspection guys talking about the unethical behavior of Sacramento Realtors. Sewer guys admitted an agent asked them to falsify a sewer report. Who was it? The very same agent who purportedly broke fiduciary.
It’s pretty bad when even the sewer inspection guys call that agent unethical. How low can an agent go? And what can be done about it? It makes a person lose faith in her profession when this kind of crap is allowed to continue without consequences. It takes years to build a solid reputation in Sacramento real estate and only seconds to ruin it. Perhaps we can hang our hopes on what comes around, goes around. Bound to be karma.
Agents don’t openly talk about this sort of stuff in real estate because they don’t want to be tainted by it. Further, the public has enough problems with trusting agents as it is. But please know it is rare that this happens. It is definitely not the norm for Sacramento real estate. Not something agents with the Elizabeth Weintraub Team would ever do.
Because Real Estate Agents are Suckers and Low Hanging Fruit
Just ask Top100RealEstateAgents.com how much they think real estate agents are suckers. Because that group has got it figured out. Although, you can’t give them all of the credit. They simply borrowed ideas that worked well for other companies that collect statistics on top producers. I should clarify that a top producer doesn’t necessarily mean what you might think it means. You may think a top producer is cream of the crop, an agent who sells more than anybody else. But it depends on whose definition you lean.
If you lean on the definition of the Sacramento Association of Realtors Masters Club Members, those are people who have sold a minimum of 8 homes a year that total $5 million or more in sales volume. So basically closing one $625K house every 45 days. Eight sales a year can qualify an agent for Master’s Club. Once they suck you into membership in Master’s Club, an agent pays for a plaque or stickers or both. But that’s not the worst part.
That’s peanuts.
Not the worst part by far.
The worst part is when all the leeches come out of woodwork. By leeches I mean companies that profit by putting together their OWN lists of so-called top producers. This is why real estate agents are suckers. Because they can so easily be taken advantage of. If an agent wants to be recognized as a member of Master’s Club, then all of these news organizations and media publications expect the right to publish that name, but only in exchange for payment from the Sacramento Realtor.
They see this as win-win. I see it as since my name doesn’t get included unless I pay, well, that makes it extortion. I do pay for a couple of publications simply because I know my clients do not understand how this works. People in Sacramento still read the Sacramento Bee. They might wonder why my name is not included on a list it should be on. This is an irritation. But I refuse to pay every publication and I do draw the line.
Now the Sac Bee has decided it can make more money by getting agents to pay to be promoted as a Master’s Club member at different times of the year. Like over the 4th of July when nobody is reading the paper. Or, on Thanksgiving, LOL. I wish this would please, just stop. I say no. I won’t do it.
I also draw the line at real estate agent scams like Five Star Professionals, which seems like a big hoax to me. Top Broker Agent and Top Agent magazines are another example. They pretend you are a top agent and make you pay big bucks in exchange for publishing your air-brushed glam photo on the cover. Also, Real Trends has stopped bombarding me with spam to buy plaques, thank goodness.
But yesterday, I received a new example of how real estate agents are suckers. Some of those other real estate agent scam victims seem to work at Lyon Real Estate. I wonder, do they know they are being suckered or don’t they care? This is a new thing that supposedly ranks the Top 100 real estate agents, but only in certain areas. This company wants me to pay them $350.00 to “accept my award” of being named to that list.
On top of this, when I searched for a Sacramento agent on their website, the search for Sacramento turned up no results. Even if Sacramento agents were listed, I wouldn’t pay for this alleged privilege. On the home page, you can view the top 100 agents, of which there are only 57, LOL. Since I already rank in the top 10 agents in Sacramento, why would I want to be included in a top 100 list that only includes agents who pay for it? You’ve gotta ask Top100RealEstateAgents.com, how stupid do they think real estate agents are in Sacramento? I guess the answer is very.
Is it true that real estate agents are suckers? I have a dead ex-husband, a seminar hustler from Orange County, who firmly believed all real estate agents are suckers. He made a lot of money from agents.
Agents are always looking for innovative ways to promote themselves. But when the promotion companies that supposedly honor your achievements also demand payment to be recognized, you’ve gotta stop dead in your tracks. You should question this crap. Why is true that real estate agents are suckers? This stuff will persist as long there are real estate agent suckers to fund it. Here is the real kicker, those lists are not easily found by consumers. So, agents pay for zero return, zero branding.
Of course, there is also the possibility that some agents recognize the hoax and do not care. I imagine many “award” companies count on this attitude as well. They are no different, really, than the porn ransom email scam. Those crooks also attempt to extort money and give you nothing in return.
This is why I print my sales production directly from MLS and show it as proof to prospective clients. There is so much jaw-flapping going on in this industry, such puffery, it’s hard to tell who is telling the truth. Everybody wants to be a top agent. Few really are.
What is Buyer Due Diligence for Sacramento Home Buying?
In my pending sales at the moment, it seems that many right now involve buyer due diligence. Yet another sign we are on the tail-end of the seller’s market. Normal transactions over the past 5 to 7 years have not really involved a lot of buyer due diligence. Seems buyers were so excited and thrilled to be given the opportunity to buy a home, they skimmed through the seller disclosures. They also waived inspections, sometimes submitting offers with an inspection contingency release upfront.
Not today. Nope, now buyers are very involved with buyer due diligence. As a seller, you want to give the buyer all the time the buyer needs to release contingencies. You never want to be accused of obstructing buyer due diligence, no siree. However, some of the questions we’ve received have been very detailed. So detailed an agent can’t tell if the buyer wants to move forward with the sale or if the buyer wrongly believes she needs a good reason to cancel.
During inspection periods, buyers can cancel without giving a reason. That’s a fact few buyers really understand. However, buyers have a responsibility to themselves to conduct every desired inspection and ask every pertinent question during their due diligence period. Agents cannot perform this task for them. They must do it themselves. They can cancel for any reason during the inspection period. The reason does need to be specific.
In fact, sometimes it is better not to give a reason. Without a reason, the seller will find it difficult to sue — not that the seller has a right to sue. People don’t always file lawsuits because they have a legal right. They file lawsuits often due to emotional misunderstandings. Rather than saying, let’s work this out, some people prefer to hastily blurt: I’ll see ya in court, buddy. But you already knew there are a lot of idiots in the world.
As a buyer’s agent, it is important to follow the estimated timeline of a transaction. Agents, line up all buyer inspections as early as possible. Because a general home inspection might suggest other inspections. Buyers, talk to your agent about those “other inspections” because it might be a case of a home inspector covering his or her own butt. Not necessarily a necessity.
Inspections are for the buyer to gain a thorough understanding of the condition of the home. It is not to renegotiate with the seller or ask for a credit. It is very rare in my listings that sellers ever get stuck with repairs, price reductions or credits. But I also know this is not true of other listing agents; many insist their sellers cave in just to “hold the deal together.”
Throughout our strong seller’s market in Sacramento, I have been pretty much a bull dog about no repairs. However, with the amount of buyer due diligence happening in our present market, I have a feeling the tide is changing on that, too.
Use Spelling and Grammar to Recognize Email Crooks
A sure-fired way to figure out if you’re being scammed is to pay attention to spelling and grammar in your questionable emails. Most of the crooks, spammers and hackers contact victims through email. It works so much of the time because people don’t stop to consider it might not be true. And they continue to get away with it because they don’t always need very many victims to be successful. Take Zillow, for example. I get so much spam generated through that website. Just because an agent maintains a profile, no protection. Those accounts get skimmed. It’s the cost of doing business online. I get the same crap from LinkedIn, btw.
Not to mention, crooks are stupid. If they weren’t so stupid, they would pursue some other legal line of work, like selling Sacramento real estate, for example. Have you ever met any smart crooks? Anybody you’d like to emanate when you grow up? No, didn’t think so. If they’re not completely stupid, then they speak limited English . . . or sometimes both. Do you know that Nigeria ranks 3rd in the number of cybercrimes behind the UK and US?
Makes me miss AOL. The innocence.
Besides not clicking on links from people you do not know, you should always check spelling and grammar. Because that’s your dead giveaway clue that something is amiss. It might hard to notice it, but try. Take a look at this email I received allegedly from the Zillow Group. There are 6, count them, 6 spelling and grammar errors in this email; more, if you count punctuation. Yet, how many agents do you think printed that attachment, filled out their credit card information and emailed it to the dude?
Below is the email I received from an account set up to look like Zillow. Apart from the fact it is an idiotic idea, some moron still came up with this scam. I doubt any agent has stopped to consider that Zillow bills your credit card every month regardless.
>>We need a Credit Card Authorization Form on file for you so we can keep processing you’re payments for being one of our premier agents on our website. This form is something we need to have on file for all of our agents who utilize Zillows marketing program, This Authorization Form gives us something in writing stating that you give us permission to authorize payments on you’re card each month so we can better protect ourselves and prevent any false dispute claims that can be made against us. Please send this back in a timely manner so their is no interruption with you’re service
If you have any questions its best to just email me directly, or you can call the hotline and ask to be transferred to accounting.
Thank You
William Sims
Accounts Management
P: 206-470-7000
E. william.sims@zillowgroup-accounting.com<<
Spelling and grammar is your friend. Now, I know what you’re thinking — you’re thinking, hey, I should have paid more attention in my English classes. And you would be right. Hopefully, you have a friend . . .
Sacramento Downtown Bungalow Ready for First Time Home Buyer
Who can resist this adorable Sacramento downtown bungalow? Built in 1927, this is in a row of vintage bungalows, close to Southside Park. Perfect for a first-time homebuyer or an investor. All fixed up and ready to move into.
The seller says the roof was installed in 2011. All the major work has been done on this home. It oozes curb appeal.
Look at all the cabinet space in the kitchen. And the cabinets are tall, they reach the ceiling. Newer vinyl flooring and a space opposite the cabinets for a breakfast nook.
The living room is very large as well. You can see part of the ceiling fan in this photo, under which you could set a dining room table, if you didn’t want to use the breakfast nook in the kitchen. Although the space in this Sacramento downtown bungalow is on the cozy side, it is very nice to have options, don’t you agree?
Both of the bedrooms sport picture rails and ceiling fans. Not only is there a closet in each bedroom but also storage above the closets. This bedroom sits toward the back of the home so it features an extra window.
You’ve also got a laundry room off the back porch with hookups for a washer and dryer, plus a window that lets in light. So much light in this home, despite being surrounded by trees. Look, there is a porch off the back laundry room, too, plus a storage shed!
Come see this row of bungalows on U Street for yourself. You can call Elizabeth Weintraub at 916.233.6759 for a private showing, or come to our open house on Sunday. 2:00 to 4:00 PM, July 15th, hosted by the incredible Barbara Dow from the Elizabeth Weintraub Team. See the virtual tour of this charming Sacramento downtown bungalow here.
411 U Street, Sacramento, CA 95818 is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $349,000. Clear pest report available.
