Infowell/Mike,
Reply or not, your choice. You know I respect you. Heck, we even agree on 80-90% of this debate. I don’t like it either when these discussions start becoming offensive, so let’s look at it another way.
Let me defend (not offend) my position on the quote that you took from my post. The investor can show and sell the property faster than an agent. You say that that is wrong because the typical investor is part time. I agree. I should have said the professional investor. Did you sell your houses quickly because you are an agent, or because you are a professional in your industry and have learned the business?
Let’s look at something. You said the parttime investor couldn’t do as good a job as a RE agent. However, some 50% of licensed agents are part time (can confirm with National board of REALTORS). Can they do a better job than the fulltime, professional investor?
You’re right, of course about the anymosity towards RE agents, but it doesn’t come without complete warrant. On a personal note, I went through 5 agents before I found one that I could work with, that I felt really knew how to do her job. Now, that I own an agency, I can just look at the agents there. Some of them, frankly, shouldn’t be in the business. They don’t have the drive to succeed, and in some instances, the brains to comprehend how to succeed. The sad part is, it’s not uncommon.
As I said before, you’re a good agent. A true professional that knows what needs to be done. You probably surround yourself with like individuals. Maybe that’s why you don’t see the bad agents (or maybe it’s just because everyone here is jumping on and you’re just in a defensive mood, who knows :))
Let’s take a look at that other perspective I mentioned. Let’s look at RE investors. Man, I hate it when I hear people say that RE investors are crooks, scam artists, slum lords, etc. etc. I jump up and defend them (and myself) immediately. Then they push an article in your face about how an investor is being investigated for fraud, scamming, etc. and I say, “True, but that’s not the norm. MOST investors aren’t like that.” Isn’t that what we do?
The sad truth is that MOST investors ARE like that. Few do anything illegal intentionally, but through ignorance and lack of education, investors get into all kinds of messes that make it look bad for the profession as a whole. Don’t believe it? Look through the newspapers at the articles on it. Look at the some of the state laws trying to prevent it. Heck, look at the questions and comments in these and other REI forums. I can’t count how many times I’ve seen things like, “I put a house under contract, do I need to get a loan?,” “Is it okay if I say this is a personal residence if I’m going to be renting it out, I mean I’ve done it 5 times already,” You want that tenant out, easy. Just have the power turned off, or change the locks when their not home," “I bought a house Subject 2, but I didn’t find a tenant/buyer for 3 months, so didn’t make though payments, is that bad?” I could go on (and on), but I think you get the point.
New investors, and agents too, are led to believe that all you have to do is hang your name on the door, so to speak, and the money will flow in. We both know that that just isn’t true. When they find that that isn’t true, most backup, bailout, or drift along, just trying to get by. And when that happens, it’s the professionals that’s left to clean up the mess.
Still a good debate, infowell.
Can’t we just all get along?
Group HUG! :-* :-*
Raj