{"id":762,"date":"2006-12-12T18:22:29","date_gmt":"2006-12-13T01:22:29","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=762"},"modified":"2006-12-12T18:24:41","modified_gmt":"2006-12-13T01:24:41","slug":"who-needs-realtors","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/762\/who-needs-realtors\/","title":{"rendered":"Who needs Realtors . . . ?"},"content":{"rendered":"

I was talking with a reporter yesterday about the idea of disintermediation in real estate. I brought up the question of what is the ideal closing date<\/a>, just as a quick and dirty illustration of why buyers and sellers need professional advice, even if they think they don’t. This morning’s Ask the Broker question<\/a> provides more examples.<\/p>\n

Here’s another one:<\/p>\n

Cathy has a house closing on Friday. She’s the lister (sold in 21 days!) and the buyer came in without a contingency on the sale of another home (yay!). But: They live out of state right now and they have an out-of-state lender (boo!).<\/p>\n

The sellers are buying their next nome in Boise, and that transaction is<\/i> contingent on the sale of their home in Arizona.<\/p>\n

Without discussing this with either Cathy or with their buyer’s agent in Boise, the sellers scheduled their closing in Boise for — guess when? — Friday.<\/p>\n

They scheduled their movers to deliver their stuff to their new home in Boise on — guess what day? — Friday.<\/p>\n

Now god loves the uninitiated in real estate transactions, and he graces them with the unshakable faith that things always work perfectly, as and when planned.<\/p>\n

Especially with out of state buyers.<\/p>\n

Especially with out of state lenders.<\/p>\n

Especially with contingent sales.<\/p>\n

Most<\/i> especially with simultaneous closings — in two different states.<\/p>\n

Consider the disclosure chain: The out of state lender to the Arizona buyer’s agent to Cathy to the Boise buyer’s agent to the Boise seller’s agent, with Cathy also keeping the lender on the Boise property (our favorite lender, Logan Hall of SallieMae Home Loans<\/a>) in the loop, and with each Realtor and each lender keeping their respective clients up to date. Every new development has to traverse this chain. Everyone is on good terms, and they’re all pulling in the same direction against the forces of inertia and Murphy’s Immutable Laws.<\/p>\n

So: Who needs a freakin’ Realtor, anyway? The MLS wants to be free!<\/i> Once that happens, we can push the middlemen (count them in the previous paragraph) off to the side, and real estate will change hands just as easily as securities, airline tickets and cheesy Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I was talking with a reporter yesterday about the idea of disintermediation in real estate. I brought up the question of what is the ideal closing date, just as a quick and dirty illustration of why buyers and sellers need professional advice, even if they think they don’t. This morning’s Ask the Broker question provides […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,6,5],"tags":[],"class_list":{"0":"post-762","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":857,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/857\/communication-a-good-reason-to-use-realtor\/","url_meta":{"origin":762,"position":0},"title":"Communication a good reason to use Realtor","author":"Greg Swann","date":"January 5, 2007","format":false,"excerpt":"This is me from today's Arizona Republic (permanent link): \u00a0Communication a good reason to use Realtor Why do you need professional representation when you buy or sell a home? It's not because of the Multiple Listing Service. As we have seen, Realtors can put a transaction together in ways you\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":797,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/797\/cutting-out-middle-man-in-a-sale-might-cost-you\/","url_meta":{"origin":762,"position":1},"title":"Cutting out middle man in a sale might cost you","author":"Greg Swann","date":"December 22, 2006","format":false,"excerpt":"This is me in today's Arizona Republic (permanent link). \u00a0Cutting out middle man in a sale might cost you I've talked about disintermediation before, and surely it will come up again. Disintermediation in real estate is the idea that buyers and sellers can eliminate the middle man -- in this\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":530,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/530\/goodbye-mls-hello-craigslistcom\/","url_meta":{"origin":762,"position":2},"title":"Goodbye, MLS. Hello, CraigsList.com . . .","author":"Greg Swann","date":"October 12, 2006","format":false,"excerpt":"We had three listings close this week, a new listing going into the MLS, we're both showing quite a bit, and we had our usual meta-projects -- plus The Carnival of Real Estate. It's been a busy week... On top of all that, we took one of Cathy's listings \"private\".\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2701,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2701\/redfincom-builds-new-listing-oversight-tools-for-sellers\/","url_meta":{"origin":762,"position":3},"title":"Redfin.com builds new listing oversight tools for sellers","author":"Greg Swann","date":"March 4, 2008","format":false,"excerpt":"Here's the news, snipped to the quick:Online real estate broker Redfin Corporation today released Redfin Listing Metrics, a dashboard for Redfin's listing customers to analyze neighborhood inventory trends and recent sales, and to compare their listing's online traffic to that of other listings in the neighborhood.That sounds slick, doesn't it?\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1669,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1669\/how-not-to-divorce-the-real-estate-commissions-la-buyer-figures-out-who-pays-the-commissions-but-seems-not-to-grasp-the-nature-of-the-listing-agreement\/","url_meta":{"origin":762,"position":4},"title":"How not to divorce the real estate commissions: L.A. buyer figures out who pays the commissions but seems not to grasp the nature of the listing agreement","author":"Greg Swann","date":"July 17, 2007","format":false,"excerpt":"Via Freakonomics, the L.A. Land weblog at the Los Angeles Times has a shaggy-dog story about a buyer who came up with a brand new way to shoot herself in the foot: Pay all the commissions herself, regardless of the terms of the listing agreement and the HUD-1 procedures currently\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":202,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/202\/ten-more-bricks-in-the-wall\/","url_meta":{"origin":762,"position":5},"title":"Ten more bricks in the wall . . .","author":"Greg Swann","date":"August 11, 2006","format":false,"excerpt":"I write a lot about disintermediation, but it's not a front-burner issue in our business. Not yet, anyway. We know that much of what we sell, as a business, is the convenience of being able to dump the real estate problem on us. I'll say to clients, in jest, \"If\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=762"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/762\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}