Comments by "Crime Stoppers" (@crimestoppers1877) on "Homebuyer's Fees Expected To Rise! 🔴 Housing Market Lawsuit" video.
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You bring up a LOT of new issues: THE MOST IMPORTANT issue for the value of a single residence property is LOCATION, LOCATION AND LOCATION. The Listing agent has opportunities to LEARN ( or NOT want to know) about the many pitfalls and advantages or values of a specific location. In many cases it is NOT possible to learn about some of these issues unless the buyer does the following: Visit the area near the potential property on the weekends, early in the mornings on week days, afternoon commute times. Scout the areas near the local public schools for traffic congestion, graffitti, unreported criminal juvenile activity ( kids have rights today). Many communities allow, permit or approve livestock or poultry as pets. The only way to know about this is the LOUD rooster calls at daybreak. Do you want to owe a small fortune on a mortgage on a property that is surrounded by the daily screaming of roosters? Or how about wild teenagers who like to burn tire rubber at all hours of the night racing their cars? Do you observe "too many'" freshly painted walls? Is this to hide LEGAL Graffitti legally defined as "artwork"? Are there "crazy neighbors" that the seller is trying to avoid by selling the property? Will they now be YOUR crazy neighbors to enjoy? How about the practice by some estate agents of parking expensive late model rental cars (Mercedes Benz, Porsches, BMW's, Mazeratis) in driveways to make it appear that a higher social status persons live in the community?). In some areas like Los Angeles suburbs, agents will actually hire Equity member "Background actors" to "walk" in appropriate "attire" in the area acting like they reside there ( non speaking roles only) to increase the perceived value of the location. How do you know about these issues unless your Listing or Buyers agent tells you? How many Listing agents or Buyers agents want to scare away a potential fast close at asking price, by telling the truth? I can go on and on with these questions, since ALL of this has happened to me. A 180 DOM property that just never sells with new late model cars parked in the driveway ( vacant house) ? Oops and now it is SOLD. This is why I prefer Dual Agency. One important advantage of Dual Agency is that it requires a strong moral, and ethical agent to know how to walk the line protecting and representing BOTH parties ( Or more including mortgages, loans, and local building code approval knowledge). A part time agent will not last long attempting to HONESTLY juggle the needs and prserve the rights of all parties to the contract. Any dishonesty will quickly include a lawsuit or two. Estate agent E&O insurers do NOT enjoy handling any serious claims.
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