Some lawyer wrote an article for the Toronto Star suggesting that Realtors will avoid disclosing certain information to their clients. This is my blog and he doesn't deserve to be mentioned by name here. The article is entitled "5 things a real estate agent won't tell you".
If he's suggesting some of us hold back information to benefit ourselves, he's right. I know of two who would do that. Pot calling the kettle black if you ask me.
Here are the real facts.
1. Commissions are negotiable. I never knew this to be a secret. Are lawyer fees negotiable? Do they reveal that to all of their clients?
2. Agreements are for 6 months. In order to be submitted to the MLS, the Listing Agreement has to be a minimum of 2 months. The maximum is unlimited but I've never seen one more than 6 months in all my 25+ years as a Realtor. Why any agent or customer would want a one year agreement is beyond me. Do lawyers all work contractually? Or is their service open ended, as long as it takes?
3. Open Houses benefit everyone. There was a time 15+ years ago when open houses were not considered to be a valuable marketing tool. It was a way for Realtors to meet new prospects. This has all changed. Houses and condos that do not host open houses today are denied potential qualified buyers who "only" view houses during an open house. Has this guy ever sold a house? How does he know so much about the value of open houses?
4. Not all real estate is a good investment. The lawyer is correct. I never knew an agent, ethical or otherwise who said otherwise. Where is this guy getting his information?
5. What does a lawyer know about staging? Staging a home will not only get a higher selling price, it will hasten the sale thus saving the seller carrying costs such as mortgage interest, taxes, utilities and the like. Is staging now being taught in law school?