My latest column for AGBeat is bound to raise a few eyebrows in the realtor community. Do you want your agent to inform you they are a victim of foreclosure?

An industry secret

It’s considered hush hush, but many agents have lost their homes to foreclosure. This housing mess has affected everyone. Admit it or not, that includes us real estate agents. Realtors were not immune. Some of us speculated just as much as the banks and some of us got swept up in the dizzying ascent of the market. And frankly, some of us lost our shirts.

For those agents who have personally gone through foreclosure, do you tell clients, or do you sweep it under the rug? An agent’s own REO experience can be a blemish. People think “Wait, you’re supposed to be the real estate expert. How could this happen to you? Shouldn’t you know better? And if you couldn’t save your own house, what makes you think you can save my house?”

Painful, albeit valid, questions. Would you hire an electrician whose own sub-panel gets burnt to a crisp? A plumber whose own pipes explode? When we position ourselves as the authority on real estate, there is a certain expectation from consumers that we know what we are talking about. Our own real estate failings can discredit us.

The flip side of the coin
On the other hand, is it better to tell clients that you know first hand what they are going through? As prevalent as it is, foreclosure is still shameful and a seller may take solace that you can relate. A strong rapport helps, especially in distressed sales. Sometimes emotional support is more important to a client. Also having gone through the process yourself, you know the pitfalls to avoid. Sharing your past mistakes can help them navigate the rocky road ahead.

Do you think agents who have lost property in a foreclosure or a short sale ought to disclose this to clients? Are they more or less qualified to assist owners facing repossession?

LogoTV viewer writes to Hermanity:

QUESTION: The house we're buying has chimney damage. My agent says we should focus on our loan instead?  Is that right?
ANSWER: Yikes, your agent just wants to sweep the chimney under the rug & focus on his commission! Watch my video for the 3 steps you need to take ASAP! 

Remember guys, you are the client. Your agent is supposed to always have your back & protect your best interests. A great realtors does what is right for you, not for their wallet! 

Have you come across any agents who were looking out for themselves more than you? Vent here!

This frustrated viewer wants to know if he got stuck with a bad real estate agent. Duh! If you gotta ask that question, you know you gotta loser on your hand!

Let's face it.  Not all realtors are knock-it-outta-the-ballpark superstars.   Far from it!  (In fact I can rattle off more than a few names of lackadaisical agents, but I'll be discrete for once, hehe).  As I told Mother Love on her talk show last week, the bar to entry to this business is lower than Heidi Montag's IQ.  This probably isn't going to endear me to the realtor community, but sometimes I am flabbergasted how incompetent & careless some of us are. (Don't hate, y'all know it's true!). But what shocks me even more is how much some clients will put up with. Clients deserve the best work from their agent. If they can't bring it, there are tons of agents more than willing to step up. So, pick your real estate representation carefully.

Have you ever regretted your choice of realtor? What did you do about it?

With mortgage scams and foreclosure traps on the rise, in places like California, a consumer can check to see if a real estate agents license has been suspended on the Dept Of Real Estate's website. It's a little nosy, but better safe than sorry!

PS: Thank you to my friends at SFHomeBlog.com for featuring this video!

The general consensus is that it's best to work with a full service agent. It's a no brainer to use someone who handles all aspects of the biz: marketing, selling, buying, market analysis, etc. But be careful what you wish for! Some people offer too much.

We get such a bad rap. Agents, UNITE!  Seriously though Realtors, do people diss you for being an agent? Please vent!

Some realtors put "Call for Price" on their advertisements!  Are they hiding something or just creating buzz?

Why is "Dual Agency" a bad word in some real estate circles? Dual agency occurs when the same agent represents both the seller & the buyer on a deal.   Is it  easier if just one agent oversees the transaction?  Or does dual agency result in a loss of advocacy for both parties?

What would you say if someone asked you to be exclusive with them after just one meeting?  Be it w/ a date or an agent, it's not cool!

In this down market, has your realtor had to take on a 2nd job to stay afloat?  

Have you been teased by a listing that's priced to enticed?

We've all been fooled by glowing Real Estate Ads that stretch the truth. Here's an example! 

Is the term "Neighborhood Specialist" just a cheap marketing ploy by realtors?