Last Updated: November 15, 2010
first tuesday dispels common California Real Estate Myths. Click on any of the links below to see first tuesday’s explanation of the myth behind the misconception.
| California |
| Myth: “California is anti-business.” Myth: “California is experiencing a massive population exodus.” |
| Due Diligence and Disclosures |
| Myth: “Only forms published by the trade unions are legal for use in California.” Coming Soon — Myth: “As-is disclosures are legal in California real estate transactions.”
Myth: “Home inspection reports should only be ordered by the prospective homebuyer.” |
| Licensing |
| Myth: “I must be licensed by the real estate trade union to practice real estate in California.” |
| Loans and lending |
| Myth: “The commercial purchase-money loan exists.” |
Is this whole “NMLS” or whatever the designation really necessary for loan origination’s of 1-4 residential?
This new requirement has hurt an already devastated industry! Mr and Mrs. consumer/borrower are in for
greatly reduced oversight and agent advice in understanding the many different loan programs pros and cons! The one on one representation is removed and once again small business will suffer! I view this move as one to create more government jobs & income no matter the cost! This entire layer of unecessary
government interfearance should be repealed or at the very least merged into California DRE requirements
spread over a phased in time period of 10 years! The damage caused is already irrepairable but if changed
quick enough perhaps this industry can heal somewhat? Seems the smaller the business the greater the
danger of becoming a after thought.
People (especially REALTORS) don’t seem to believe me when I tell them that the difference between a real estate licensee/agent and a REALTOR is membership in the local Board/union. REALTORS keep promoting each other as being the “only” legitimate agents, since REALTORS subscribe to a “higher ethic”. B.S., I say! I know plenty of unethical REALTORS. Currently I’m a REALTOR; but I started in 2001 as a licensed real estate agent with a broker who was a member of the local MLS but not a member of the Board. We used to say that we came by our ethics naturally; others (REALTORS) had to buy theirs. I’ve been a REALTOR/union member since 2005 and the only benefit I see is the privilege of paying hundreds of dollars anually for a title of membership and to be able to attend the functions. Being anti-union in my civilian life, I use the title because I paid for it, not because I believe it makes me any better than a “common” licensed real estate agent.
Rant over. Thank you.