One of the good things about the free market enterprise system is it seems to weed out the incompetent from the competent. But not always. That's why the more experienced should watch out for the little guys and help them along. Protect them, if we can. There are not very many watch dogs for the young and innocent (much less the old and grumpy) real estate agents.
In fact, it's been said that the easiest people in the world to sell to are other sales people. For some reason, they don't see it coming. Or maybe it's because they believe their own pitches as they've repeated them so many times they sound like the truth. You say something over and over, people start to believe it. In any case, for whatever reason, real estate agents can be pretty gullible.
The managing broker of my office sent me a website yesterday. I'm not publishing the website here because I suspect there are those of you who will think this is the greatest thing since sliced bread, and will dash over to sign up. It's a company that promises to get your real estate commission back, gall darn it. From those crooked short sale banks who stole it.
They promise that if you took a short sale listing at whatever percentage and the short sale bank cut that commission, well, you are entitled to the full commission. No, you are not. Not if your short sale is subject to bank approval and, far as I know, every single short sale is subject to bank approval. But that doesn't stop this company from making the statement nor the promise. They guarantee you will get your money back. Money that wasn't yours to start with.
Nothing is yours until the bank approves it and it closes. That's how a short sale works.
This company threw up its website at the end of July. It looks like a teenager designed the site. Pages upon pages of worthless claims and empty promises. They don't tell you how much they charge to "get your money back," but I'm betting they probably charge something upfront, even though they say they don't. Because there is no money to get back.
Think about it: if a company can "guarantee" you'll get back a portion of your commission to which you are not entitled, it will say they don't charge upfront, too. Because, if you believe one lie, two are better. Don't get suckered.
As a Sacramento short sale agent, I like to believe that I can spot crooks a mile away. Plus, as I reminded my managing broker, I used to live and work in Newport Beach. Crook mecca if I ever saw one. That which doesn't kill you makes you stronger.
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
