When the real estate market heats up, some folks seem to forget their scruples.
Here in Nashville, the inventory is TIGHT . . . That is, there are more Buyers than houses to buy in most all areas of our market.
While this bodes well for anyone contemplating selling a house, the real challenge has become: “What then? Where will I move?”
Most every REALTOR you encounter will tell many twisted, elaborate, and hard to believe stories about their experiences with clients who just want to BUY a house.
For sure, it can be exasperating to show multiple houses and write multiple offers knowing that each and every one is likely to be one of several offers on the table for the Seller to consider.
Some seem to be willing to compromise legal and ethical standards under the “protection” of “Desperate times call for desperate measures.”
For sure, the gold is virtually ANY house available for sale at a reasonable price (Yes, it IS possible to overprice a house even in this market), and the competition is fierce.
Here in Middle Tennessee, our REALTOR Associations have great pride in the fact that the number of Ethical complaints from REALTORS and the general public have Historically been WAY lower than most areas of the country . . . but these complaints are on the rise as more and more REALTORS are starting to slip into Loosey Goosey practices in an attempt to gain the competitive advantage either for securing a listing in a coveted area of town or winning a property for a Buyer client.
This is an unpleasant by-product of a tight market, and that’s NO excuse for bad behavior.
The “Enforcement Authorities” (TN Real Estate Commission and the Associations of REALTORS) do not have the resources to Police the actions of the Real Estate Sales Professionals, so they rely on the general public and the real estate practitioners to report “alleged misbehavior.” The Real Estate Commission is there to enforce State Statute (Law) to protect the general public . . . and the local associations enforce the REALTOR Code of ethics (and mediate/arbitrate compensation disputes.
So . . . if walks like a duck and talks like a duck, it’s probably a duck . . . and if it smells like a rat, it’s probably a rat . . . so . . . I have a very low tolerance for “Professionals” crossing legal and ethical boundaries for personal gain and for winning for their clients.
The Majority of REALTORS out there are doing things right and proper. Let’s not allow the minute minority of those who digress define all of us in the eyes of the General Public.
If you sense an infraction – At a minimum, consult with a Principal Real Estate Broker FIRST and if deemed viable, take the time to file an official complaint.
Let’s keep it safe and clean out there in the real estate sales world.