Revealing the Roots of the Real Estate Industry Struggle

RISMEDIA, Dec. 17, 2007-As I travel from state to state and office to office I am constantly picking up business cards of agents. I look at the picture and often see a much different face on the card than the person I actually meet. The photo usually shows a much younger person, smiling and happy. Or, they are holding a phone or leaning over a giant door key, or my favorite, holding a cat or a dog. I try not to dwell on that as my real interest is to see those golden credentials at the end of their title.

The credential

As one who is often at conventions, I have tremendous interest in watching this process, but I have greater interest in what it is doing for our clients and customers. I meet agent after agent who have more credentials at the end of their title as it looks like a scramble of the entire American alphabet. GRI, CRS, ABR, ABA. Now we all know that 100% of the public could not tell you what these mean. I would bet that a significant percentage of real estate professionals do not really know what they stand for either. Yet, at conventions the rooms are packed to obtain these credentials and the pursuit to comply with state laws for continuing education mandates attendance at many of these classes.

Education is critical and I commend and admire every agent who attends these classes. The fault does not rest with you as you are taking the direction of your leadership of what you need to know. But when we look under the hood of the quality of the content you are receiving, the roots of the industry struggle is revealed.

I cannot tell you how many CE credit classes I have listened to. Recently, before I was to make a presentation on a non-CE issue, I sat in the back of a CE class on short sales and foreclosures. This was a two and a half hour class on a topic that is filled with multiple laws, procedures, and an extensive understanding of banking and mortgage issues. There were 400 people in the room. I sat and listened to two very well informed attorneys deliver this session. I watched the room as agents sat with a look of utter confusion.

At the conclusion of this session, the teacher asked if there were any questions. And, as predicted, there was not one question. No one understood enough to even ask one question. I can assure you there was not a pop quiz at the conclusion that required a passing grade of 90% to earn that CE credit. Think about this, 400 people received credit for something they did not understand. The only directive made was to “make sure you sign out or you will not get credit for this class.”

Why are there thousands of agents with multiple credentials still heard screaming at the mortgage company the day before closing because something was not done. I ask this agent, “Do you have an electronic and automated transaction management and notification system layered with a protocol to monitor and notify all parties when mortgage conditions are to be met and satisfied”? Answer: “What’s that?”

Why are there thousands of agents who have multiple credentials but have no client risk mitigation policy? Why are there thousands of agents with these valued credentials still representing a proposed market value of a home at the listing appointment, yet it sits unsold because it was priced and positioned too high. I will ask that agent “did you complete a Return on Investment Analysis for your client prior to listing their home”? Answer “What’s that”?

The credential that I think counts the most is GUTS. The agent that has the guts to be authentic and apply the skill of giving sellers what they need not what they think they want. Guts are about doing business with the public in a way that overflows with value, purpose and satisfaction. Being a great real estate professional requires the guts and conviction to start living in reality instead of catering to the dreams, myths and false expectations that the public has in what will get the job done and get it done right.

I have talked to hundreds of residential specialists that are certified, yet they take listings without knowing in advance of a contract if there are any liens, encumbrances, or other title issues that could affect the quality of title, which could cost their clients thousands of dollars or the entire loss of the transaction. Why do we let the buyer’s title company or attorney find these costly issues days weeks or months too late? It comes down to the quality of what we are teaching real estate professionals.

Totino’s and Jeno’s Pizza Recall: Food Poisoning Lawyer Bill Marler Weighs In

Seattle, WA:"General Mills Totino's and Jeno's pizza E.coli outbreak is a relatively small outbreak in relationship to others," says food poisoning lawyer Bill Marler. " Therefore, wage loss and medical bills would be a small amount of money to pay for goodwill in this case." Although small by outbreak standards, the [frozen pizza recall ] sent many consumers to hospital.


Other companies in the past have done well to make restitution--those that step up to the plate and reassert their desire to make food safety their utmost priority and take care of their customers will likely keep their customers.


Marler cites Jack in the box and Odwalla Beverages, (both e coli) Chi-Chis Mexican restaurant chain (hepatitis A outbreak) and Sheetz chain of stores (salmonella) as examples. All these companies paid medical expenses to their customers sickened by outbreaks caused by their product. "Even companies like ConAgra have made the same offer, both in peanut butter and pot pie litigation," adds Marler.


"Stepping up and dealing with these issues, such as wage loss and medical bills, doesn't mean the company won't get sued, because some people may have medical bills that are not yet known," he says. "However, for the most part, when companies do take care of their customers, many never file a lawsuit at all."


Sounds like a win-win situation, with the exception of the plaintiff's lawyer. "Well, the plaintiff's loser does lose out in some respects but that isn't necessarily a bad thing," explains Marler. "We want to do what is in the client's best interest; if General Mills pays the medical bills, it is a positive step."


Marler also points out that a company responsible for an outbreak should pay bills only to those they know for a fact were sickened by that company's product. That can be determined either by a stool culture or proof of purchase because paying non- legitimate claims doesn't benefit anyone. "We spend a lot of time making sure the claims we bring forward are in fact provable --we turn a lot of people away."

Estates and probate-Ellis v. Ellis

Estates and probate-Ellis v. Ellis: Survivorship properties in Tennessee remain unaffected by the 120 hour provision of the Tennessee Uniform Simultaneous Death Act

University of Memphis Law Review, The, Spring 2003 by Butler, Eric

Shortly after marrying in 1944, Neil Ellis (Husband) and Virgie Mae Ellis (Wife) executed separate reciprocal wills, each naming the other spouse as the sole beneficiary.1 In April 1998, Wife became conservator over Husband due to his age and deteriorating mental condition.2 On February 11, 1999, Husband died, followed by Wife's death three days later.3 Husband's heirs claimed half of the property the couple held as tenants by the entirety because Wife failed to survive Husband by 120 hours.4 Wife's estate objected, arguing that the entirety property vested immediately in Wife because Husband predeceased her, and he therefore had no interest in the entirety property that could pass through his will.5

The trial court denied the motion of Husband's heirs to intervene in the probate proceedings.6 The Tennessee Court of Appeals affirmed, holding that the entirety property passed outside of probate and that Wife took the property by survivorship in fee simple absolute immediately upon Husband's death.7 The Tennessee Supreme Court held, affirmed.8 The Tennessee Uniform Simultaneous Death Act does not require a spouse to survive by 120 hours before taking fee simple title to property held with the decedent as tenants by the entirety. Ellis v. Ellis, 71 S.W.3d 705, 714-15 (Tenn. 2002).

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Memphis ranks high in identity theft

Memphis is No. 17 on the list of top 50 cities for identity theft, according to Identity Theft Resource Center.

Last year, the Federal Trade Commission received 1,356 complaints regarding identity theft in Memphis. This number, calculated to compare the occurrences per capita in major U.S. metropolitan areas, put Memphis high on the list of identity theft, according to the findings of a survey sponsored by the Identity Theft Resource Center and Uni-Ball Pens.

Phoenix topped the list, followed by Riverside, Calif., Las Vegas, Miami and Dallas.

Fewer than 25 percent of Americans take the proper steps to protect themselves against identity theft, says pen maker Uni-Ball.

How To Avoid Becoming An Identity Theft Victim

James Jackson is considered a "founding father" of identity theft. Jackson is sitting in a federal prison. He used to spend a lot of time stealing people's identity.

Jackson says some of his victim's are famous actors, corporate executives, even a federal judge. Jackson says he no longer wants to steal peoples identities, he wants to prevent it from happening to you.

Jackson says most identity thieves " pretext." Jackson says a good pretexter only needs your name and another piece of information about you. He says with a few phone calls the pretexter can find out just about anything else.

Jackson says pretexters can convince employees at places like insurance companies, medical offices, government agencies, retail stores and mortgage companies to give away your personal information away. The employees do not even realize they have done anything wrong.

Jackson says in addition to safeguarding your social security number, make sure when possible, critical data is removed from work related documents.

Memphis attorney representing Lowe's employees in class action

A Memphis lawyer will help defend an estimated 75,000 employees of Lowe's Home Centers after their legal claims against their retail employer were certified as a class action lawsuit last week.

U.S. District Court Judge Carlos Murguia certified a class action concerning at least 75,000 employees of Lowe's last Friday.

Memphis attorney Alan Crone of Crone & Mason PLC will help defend the plaintiffs, who will be represented by five law firms from across the nation. In addition to Crone & Mason, the plaintiffs will be represented by attorneys with Dolin, Thomas & Solomon LLP of Rochester, N.Y.; The Popham Law Firm PC of Kansas City, Mo.; the Law Office of Thomas H. Brill of Mission Hills, Kan.; and the Law Office of Michael F. Brady of Overland Park, Kan.

The employees are seeking to recover unpaid overtime compensation they claim is due, citing section 216(b) of the Fair Labor Standards Act. In an earlier hearing, Lowe's officials indicated that the case could represent as many as 75,000 of its specialists across the country, excluding the West Coast.