Hard to have any sympathy for the realtors in that story.
>He cited data that shows 74% of home buyers choose the first agent they come into contact with because they see it as a free service and that this practice will change pending the outcome of the court case.
“Now the buyers’ agents will be compensated based on their experience and knowledge and the buyers will be actually paying them and interviewing them much like a seller does on the listing agent,” Hawks explained.
Realtors have done a great job of making up a need for themselves. They use mandated forms, often give crazy legal advice, and receive exorbitant fees. What a racket.
Yeah. I love how attorneys get painted as the scam artists. It's like people haven't met solar salespeople, pest control sales people, mechanics, mattress salespeople, or realtors. Come on.
I represent brokers, salespersons and consumers in real estate transactions. Truly they are the gift of work that keep on giving. Licensed used car salespersons who spend more effort on their bangs than on their deals.
I always had a problem with the way realtors collect a commission. 6% of the sales price? Well, what if I bought a home for $250K, and then sold it several years later for $500K? Why are you collecting 6% on the total sales price? It's not like the home was worth nothing until you came along. At a minimum, it was likely worth more than $250K. Why not agree to taking a commission based on the final sale price over an agreed minimum value? Well, I know why. That would be the end of this racket.
Also, the commission % hasn't changed yet the amount of work an agent does to sell a home has drastically reduced. Pictures of every property are now online. Gone are the days of real estate agents spending their day driving their clients to multiple homes to view in person. It's a total racket.
10:59– I understand where you are coming from. However do we personal injury attorneys take a contingency fee on only the net recovery after medical bills and lost wages or do we take it on the gross recovery? I will hang up and listen.
Sort of Based, NGL.
Except for one thing. Without PI attorneys, insurance companies would never be held accountable. Who are realtors holding accountable?
Realtors–It is hard for me to call them professionals when most are such uneducated idiots. The Board of Realtors are protectionist and control the MLS which was what really sells homes. Some realtors do a good job and some learn from their mistakes and gain experience. The standard sales contract protects the agents not the buyer nor the seller. The title escrow companies have clauses in their agreements where the buyer or seller is liable for their fees. In some jurisdictions, attorneys are involved in real estate transactions with things like attorney review clauses. In many jurisdictions attorneys can get a real estate commission but not in Nevada. The real estate process is controlled by realtors and is to the detriment of the consumer. With the average price on nice homes approaching $1 million it is time for service and protections for buyers and sellers.
Did you know that the same broker can represent both the buyer and seller in the same transaction and there is no consent to act or approval needed from the parties? It called an assigned agency and this is what the Real Estate Commission's own legal guids says about it.
c. Assigned Agency – To lessen the conflict of interest impact created when a broker represents more than one party in a transaction, the law provides an “Ethical Wall” wherein the broker is allowed to assign a separate agent to each client. Upon this assignment the broker does not need to use the “Consent to Act” disclosure form nor receive the approval of the clients. Black’s Law Dictionary defines an “Ethical Wall” as a legal construct designed to shield (in our case) a broker from the liability of multiple party representation. It prohibits the respective assigned agents from exchanging the confidences of the clients and restricts the transfer and distribution of the clients’ personal information and documents. The statute reiterates the licensee’s duty of confidentiality to his or her assigned client.15 To ensure a client’s confidences are not inadvertently disclosed, the broker should assure that assigned client’s files are kept apart and secured.
12:26 – 10:59 here. Good point, except for one thing. Unlike any piece of real estate (which any appraiser will tell you always has value), medical bills and lost wages are not, in and of themselves, evidence of anything. They are not automatically recoverable; they are not evidence of their alleged amount; and a defendant is not strictly liable for paying for those alleged damages. In addition to proving the defendant's negligence, a personal injury lawyer must prove that the client's damages were caused by an accident, that the medical treatment was reasonable and medically necessary, and that the bills were reasonable and customary. Often, that requires expert testimony – all at a cost (often thousands or tens of thousands of dollars) advanced by the attorney. If there is no recovery, the attorney collects neither a fee nor recovers the costs advanced. And if there is a recovery, whether by judgment or settlement, it may be years later after the lawyer has put in countless hours and advanced tens of thousands of dollars in costs, all without claiming any interest against his client for the amount owed. Most lawyers I know often agree to reduce their fees to maximize what they put in their client's pocket. The alternative to the contingency fee, making clients advance the attorneys' fees and costs of suit would likely be impossible for most people, and result in far fewer people being able to recover for their injuries.
Guest
Anonymous
August 17, 2023 5:45 pm
10:29…Doesn’t this sound familiar to you? Have you heard some of the legal advice our colleagues have given?
I heard a lawyer tell someone at the Ask a Lawyer, I was there helping, that they could simply list their kids in their will, like their property and if the should die that would control. spoiler to non-family-law lawyers-doesn’t work that way.
That's terrible advice that was given. I'm really, really, really hoping that the "kids" being referred to were what is cringingly known as "fur babies." Name a guardian in a will, sure (as well as emergency 6 month guardians in another document), and cross your fingers that the G-master will accept your request.
Typically, one lists where they would like custody of their kids to go. I know that I did when I had young kids at home. But of course, its a preference and while it can be persuasive in a guardianship hearing, its hardly akin to "Mickey gets my 1960 Lincoln Continental" and just like Mickey can refuse the bequeath, he can refuse to take custody of a kid.
While the Ask a Lawyer is not per se wrong, it is clearly a gross oversimplification and can mislead without clarification.
Of course, many arg pro and con for AAL, good experience for new lawyers, help people who otherwise might not get it, all in all I think a good program, maybe a little more oversight, or maybe an 8 hour training course, etc. Excuse texting
I've always been scared shitless to go to AAL because of this exact scenario. Maybe I'm just soft and heartless, but we spend years becoming competent in maybe a couple areas of law. I can't imagine going up to a table having no clue what area I'm going to deal with and being expected to give sound legal advice on the spot, and I'm careful enough to tell the person I have no clue in 90% of these interactions. But I'm guessing most people, with a sincere intent of helping people wind up giving at best incomplete legal advice.
Ask a Lawyer functions on the same basic premise as the proposed limited licensure for law school grads: they think people are better served by someone who has at least touched on these topics in passing during law school, rather than relying on their second cousin who once saw My Cousin Vinny.
Guest
Anonymous
August 17, 2023 9:59 pm
2:45 I may be wrong but I thought AAL is just for family law matters. Maybe someone else knows. It sounds terrible but what prevents me from participating is the threat of bar counsel and taking the side of a frivolous complaint where I might only have 10 minutes to give advice that might be misunderstood or, by definition, incomplete.
You're covered by the legal service provider's malpractice insurance. Bad excuse, next.
Guest
Anonymous
August 18, 2023 1:32 am
So, reading the SBN email today, there is a section touting the “remote work” blog. Last post Feb 2023 and the post before that Sept 2020. And they aren’t even about remote work. I know people say this blog is dead but I think it’s safe to say the Remote Work blog is definitely dead.
Let's see, even in its heyday, it wasn't exactly delivering on its promise for "Articles are written by practicing Nevada attorneys." I see naval gazing by a family court judge, advice by OBC's administrator, press releases by Clio, etc.
Hard to have any sympathy for the realtors in that story.
>He cited data that shows 74% of home buyers choose the first agent they come into contact with because they see it as a free service and that this practice will change pending the outcome of the court case.
“Now the buyers’ agents will be compensated based on their experience and knowledge and the buyers will be actually paying them and interviewing them much like a seller does on the listing agent,” Hawks explained.
Welcome to club!
It's hard to have sympathy for realtors . . . . period.
Realtors have done a great job of making up a need for themselves. They use mandated forms, often give crazy legal advice, and receive exorbitant fees. What a racket.
100
Yeah. I love how attorneys get painted as the scam artists. It's like people haven't met solar salespeople, pest control sales people, mechanics, mattress salespeople, or realtors. Come on.
I represent brokers, salespersons and consumers in real estate transactions. Truly they are the gift of work that keep on giving. Licensed used car salespersons who spend more effort on their bangs than on their deals.
Or mortgage brokers. The worst.
This should be a thread. The worst quasi legal “professions”
I always had a problem with the way realtors collect a commission. 6% of the sales price? Well, what if I bought a home for $250K, and then sold it several years later for $500K? Why are you collecting 6% on the total sales price? It's not like the home was worth nothing until you came along. At a minimum, it was likely worth more than $250K. Why not agree to taking a commission based on the final sale price over an agreed minimum value? Well, I know why. That would be the end of this racket.
Also, the commission % hasn't changed yet the amount of work an agent does to sell a home has drastically reduced. Pictures of every property are now online. Gone are the days of real estate agents spending their day driving their clients to multiple homes to view in person. It's a total racket.
10:59– I understand where you are coming from. However do we personal injury attorneys take a contingency fee on only the net recovery after medical bills and lost wages or do we take it on the gross recovery? I will hang up and listen.
Sort of Based, NGL.
Except for one thing. Without PI attorneys, insurance companies would never be held accountable. Who are realtors holding accountable?
Hey 12:26. I'm a divorce lawyer and made about 100K last year. You probably made about 20M. I know I'm way better looking. What am I doing wrong?
Realtors–It is hard for me to call them professionals when most are such uneducated idiots. The Board of Realtors are protectionist and control the MLS which was what really sells homes. Some realtors do a good job and some learn from their mistakes and gain experience. The standard sales contract protects the agents not the buyer nor the seller. The title escrow companies have clauses in their agreements where the buyer or seller is liable for their fees. In some jurisdictions, attorneys are involved in real estate transactions with things like attorney review clauses. In many jurisdictions attorneys can get a real estate commission but not in Nevada. The real estate process is controlled by realtors and is to the detriment of the consumer. With the average price on nice homes approaching $1 million it is time for service and protections for buyers and sellers.
Did you know that the same broker can represent both the buyer and seller in the same transaction and there is no consent to act or approval needed from the parties? It called an assigned agency and this is what the Real Estate Commission's own legal guids says about it.
c. Assigned Agency – To lessen the conflict of interest impact created when a broker represents more than one party in a transaction, the law provides an “Ethical Wall” wherein the broker is allowed to assign a separate agent to each client. Upon this assignment the broker does not need to use the “Consent to Act” disclosure form nor receive the approval of the clients. Black’s Law Dictionary defines an “Ethical Wall” as a legal construct designed to shield (in our case) a broker from the liability of multiple party representation. It prohibits the respective assigned agents from exchanging the confidences of the clients and restricts the transfer and distribution of the clients’ personal information and documents. The statute reiterates the licensee’s duty of confidentiality to his or her assigned client.15 To ensure a client’s confidences are not inadvertently disclosed, the broker should assure that assigned client’s files are kept apart and secured.
Bizarre
@1:16 You are using a faulty mirror.
This is one of the best threads I've read in awhile. ty
12:26 – 10:59 here. Good point, except for one thing. Unlike any piece of real estate (which any appraiser will tell you always has value), medical bills and lost wages are not, in and of themselves, evidence of anything. They are not automatically recoverable; they are not evidence of their alleged amount; and a defendant is not strictly liable for paying for those alleged damages. In addition to proving the defendant's negligence, a personal injury lawyer must prove that the client's damages were caused by an accident, that the medical treatment was reasonable and medically necessary, and that the bills were reasonable and customary. Often, that requires expert testimony – all at a cost (often thousands or tens of thousands of dollars) advanced by the attorney. If there is no recovery, the attorney collects neither a fee nor recovers the costs advanced. And if there is a recovery, whether by judgment or settlement, it may be years later after the lawyer has put in countless hours and advanced tens of thousands of dollars in costs, all without claiming any interest against his client for the amount owed. Most lawyers I know often agree to reduce their fees to maximize what they put in their client's pocket. The alternative to the contingency fee, making clients advance the attorneys' fees and costs of suit would likely be impossible for most people, and result in far fewer people being able to recover for their injuries.
10:29…Doesn’t this sound familiar to you? Have you heard some of the legal advice our colleagues have given?
I heard a lawyer tell someone at the Ask a Lawyer, I was there helping, that they could simply list their kids in their will, like their property and if the should die that would control. spoiler to non-family-law lawyers-doesn’t work that way.
That's terrible advice that was given. I'm really, really, really hoping that the "kids" being referred to were what is cringingly known as "fur babies." Name a guardian in a will, sure (as well as emergency 6 month guardians in another document), and cross your fingers that the G-master will accept your request.
Typically, one lists where they would like custody of their kids to go. I know that I did when I had young kids at home. But of course, its a preference and while it can be persuasive in a guardianship hearing, its hardly akin to "Mickey gets my 1960 Lincoln Continental" and just like Mickey can refuse the bequeath, he can refuse to take custody of a kid.
While the Ask a Lawyer is not per se wrong, it is clearly a gross oversimplification and can mislead without clarification.
Of course, many arg pro and con for AAL, good experience for new lawyers, help people who otherwise might not get it, all in all I think a good program, maybe a little more oversight, or maybe an 8 hour training course, etc. Excuse texting
I've always been scared shitless to go to AAL because of this exact scenario. Maybe I'm just soft and heartless, but we spend years becoming competent in maybe a couple areas of law. I can't imagine going up to a table having no clue what area I'm going to deal with and being expected to give sound legal advice on the spot, and I'm careful enough to tell the person I have no clue in 90% of these interactions. But I'm guessing most people, with a sincere intent of helping people wind up giving at best incomplete legal advice.
Ask a Lawyer functions on the same basic premise as the proposed limited licensure for law school grads: they think people are better served by someone who has at least touched on these topics in passing during law school, rather than relying on their second cousin who once saw My Cousin Vinny.
2:45 I may be wrong but I thought AAL is just for family law matters. Maybe someone else knows. It sounds terrible but what prevents me from participating is the threat of bar counsel and taking the side of a frivolous complaint where I might only have 10 minutes to give advice that might be misunderstood or, by definition, incomplete.
I think some of them are family only, but not all.
They have Ask A Lawyer at the Civil Law Self-Help Center in the RJC.
You're covered by the legal service provider's malpractice insurance. Bad excuse, next.
So, reading the SBN email today, there is a section touting the “remote work” blog. Last post Feb 2023 and the post before that Sept 2020. And they aren’t even about remote work. I know people say this blog is dead but I think it’s safe to say the Remote Work blog is definitely dead.
Let's see, even in its heyday, it wasn't exactly delivering on its promise for "Articles are written by practicing Nevada attorneys." I see naval gazing by a family court judge, advice by OBC's administrator, press releases by Clio, etc.