Monday, June 16, 2008

"The agent's interests come second"

"...the client's interest must always come first".

"Customers are owed the duty of honesty".

If only more had paid attention during their training/licensing program and after to Article 1 of the Realtor Code of Ethics.

It may be too late for some. Obviously Mr. Romero and many of his ilk weren't all too interested in any pathway or posted signage with the word "professionalism" on it.

Well, this seemingly forgotten code is now on Youtube, so Americans everywhere can rest assured that there will be no more lame ass excuses going forward, I suppose.

In my view, if any previous clients of a Realtor are now facing foreclosure, the Realtor should do something about it.

No. Realtors can't fix everything. And consumers of overpriced and overhyped real estate should have known better. Caveat emptor.

But Realtors can do something. I don't know what that something would be. Maybe Realtors could give back a portion of the commission they earned while selling certain clients down a river on the biggest, most important, most emotional - and ultimately most financially stupid and destructive purchase of their lives?

I don't know. With hundreds of thousands of families facing foreclosure right now across the nation, would that even be a fair solution? How much blame should a Realtor really receive? Perhaps none at all. These homedebtors were the ones buying into the "Get in now!", "Now's a great time to buy", and "You can always refinance!" sales pitches. They signed the freaking mortgage, not the Realtor.

So what would be a fair solution? Maybe the homebuilders and mortgage brokers might want to pitch in with the Realtors and send their foreclosing clients an "I'm Sorry." Hallmark card:

I'm really sorry. It won't ever happen again.

In my view, honesty is dead in the real estate profession in America. And Realtors - fancy reserved trademark and all - have helped kill it off.

For what it's worth, some ethics. Enjoy:

No comments: