Wednesday, January 30, 2008

Gift or Grab?

I should probably start this blog with some earth-shattering market information, but you can find that just about anywhere, including our Cook Group Newsletter. So I'm going to just move directly to my own little real estate world and ask you all a question. Here's the scenario: An agent friend of mine called up the other day to get my opinion. She had just closed a purchase for some clients and was doing a quick walk-thru of the property to make sure it was in good condition for them. The listing agent had left a gift and a note in the property for the buyers. This struck my friend as over the line - an attempt to solicit a relationship with her clients. However, she didn't want to over-react and so called me. Having been in this biz a few years, I assured her that she was in the right. Solicitation of another agent's clients is a big no-no in real estate and the listing agent could probably be fined under multiple listing rules. There are lots of agents who gleefully poach clients, especially since some buyers and sellers are fuzzy on just what their agent is doing for them. Even if they've had a terrifically smooth transaction, they figure that all agents must give great service, all transactions must be terrifically smooth, and they don't credit their agent's experience and talent. (Now don't get all worked up; I'm not saying this is true of every buyer and seller. All I'm saying is that it happens regularly.) So here's my question to you: As a "civilian," what would your reaction be to such a gift? Do you think that we, as agents, are right to be concerned, or are we over-reacting? Also, I know I said I wasn't going to get into market info right now, but this is a good article ranking the risk of various U.S. housing markets: http://www.pmi-us.com/media/pdf/products_services/eret/pmi_eret08v1s.pdf

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