tag:blogger.com,1999:blog-10424035.post8985271106923874647..comments2023-09-11T08:58:24.710-06:00Comments on Reach Upward: The Price Must be RightScott Hinrichshttp://www.blogger.com/profile/11831447472339880148noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-10424035.post-25796973892969995362008-01-04T12:00:00.000-07:002008-01-04T12:00:00.000-07:00I don't know. TOG has noted elsewhere that many U...I don't know. TOG has noted elsewhere that many Utahns have a realtor license, and that the vast majority of Utah realtors move only one or two homes per year. So maybe 40% isn't terribly unrepresentative ;).<BR/><BR/>Of course, when you have a monopoly that lets you pull down 3.5% or 7% (if you represent both sides) of a $280K sale, you don't have to move too many homes per year to make a handsome living. Just don't forget to make a campaign donation to your friendly realtor-legislator to make sure your exorbitant commissions aren't threatened by commoners having pricing information.Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-68504819485156782422008-01-04T09:54:00.000-07:002008-01-04T09:54:00.000-07:00I did a count once and found that about 40% of our...I did a count once and found that about 40% of our legislators are realtors, developers or government employees. That hardly seems representative.Jesse Harrishttps://www.blogger.com/profile/11468928702710912142noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-31546233460863334162008-01-04T09:34:00.000-07:002008-01-04T09:34:00.000-07:00BINGO. Realtors have held us all hostage to the ML...BINGO. Realtors have held us all hostage to the MLS for a long time here. They are legislators, and their lobby group has about the deepest pockets out there, locally and nationally.<BR/><BR/>I don't see the non-disclosure thing changing for a while. To our detriment.That One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-77067625011127839722008-01-04T07:17:00.000-07:002008-01-04T07:17:00.000-07:00I don't quite understand Utah's non-disclosure rul...I don't quite understand Utah's non-disclosure rules. The most efficient way any seller or buyer in any kind of market has of determining the proper market rate is via pricing information. Government should work to make this kind of information as omni-available as possible, rather than to suppress it to protect the power of certain groups. Could it be that these rules exist in Utah due to the high number of realtors serving in the legislature?Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-67383894077996677312008-01-03T11:38:00.000-07:002008-01-03T11:38:00.000-07:00Jeremy, you are SOOOOO right here... The non-discl...Jeremy, you are SOOOOO right here... The non-disclosure here helps ONLY realtors. The state's residents are held hostage. Data for national studies, etc, also becomes flawed and the ability to effectively report on trends and market movement effectively are practically non-existent.<BR/><BR/>Additionally, sellers are usually the last to admit that there is a depreciating or even flat atmosphere in real estate markets. Some homes get "trapped" on the market for very long periods of time. They remain listed on the MLS, or get re-listed, leaving an MLS stgma to the house, and pretty soon, even realtors won't take clients to see it, assuming there must be something gravely wrong with it.<BR/><BR/>Godd thoughts, both of you.That One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-74718731991535803612008-01-03T08:34:00.000-07:002008-01-03T08:34:00.000-07:00Pricing a home at close to market value in Utah ca...Pricing a home at close to market value in Utah can be tough. Most of the market data one would use to get an accurate idea of market value is only available to Realtors through their Multiple Listing Service. Utah is a non-disclosure state for real estate transactions which means that there is no public record of how much homes sell for. <BR/><BR/>In Utah we've created a situation where home sellers must essentially rely on a realtor or a fee appraiser to ensure that their home is valued accurately. <BR/><BR/>We really should get rid of our non-disclosure laws so people trying to sell their homes themselves have access to the data they need to establish an accurate market value for their property. The current monopoly on this market data maintained by Realtors just isn't right.Jeremyhttps://www.blogger.com/profile/15775127589033724985noreply@blogger.com