20 May Due Feb. 14
I have read many horrible stories involving real estate agents. Some were attacked, beaten, robbed and even killed. It may not seem like it, but every time a real estate agent shows property, meets with new clients, transports clients, or holds open houses for the public, they are putting themselves in danger. They don’t know who they are meeting or who is coming into the property so it can be a dangerous job. If I were a real estate agent, I would only meet new clients at the office, no matter what (Edward, 2006). This eliminates possible threats and by doing so, I can also obtain a copy of their driver’s license, vehicle information, and allow the staff to get to know them as well (Edward, 2006). It is always important for the staff to know with who you are and where you will be in case of emergencies. If I feel really uncomfortable with a client, I could always bring along a coworker I feel comfortable with to any showings or meetings. I also think portable pepper spray or even a small taser would be a good idea in case someone does decide to attack me and I will always keep my cell phone close by. I feel like just being aware and doing your best to stay safe is always the way to go. Don’t ignore any weird or uncomfortable feelings you may have about someone.
The biggest change I see coming is in technology (Edward, 2006). It is crazy to think that robots and such are being invented. These robots are being built to interact with people, show emotion, and understand others. That could possible put anyone’s job at risk, including a real estate agent. Also, computers are becoming more advanced so if clients can afford it, they no longer need to come into an office to conduct a real estate purchase, all they have to do is push a button on their computer or lap top and they can do whatever they would need to.
I believe knowledge is power. If I become more creative, more educated, and obtain as many certificates I can get, I can stay on top of the game and keep up with any competition. I believe if I stay on top of the game, clients and potential clients will see how dedicated, focused, and determined I am and that will help me be and stay successful. Yes, technology will make it easier to do many things, but there are still many people who want face to face contact about what they are about to invest their savings into.
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Tom – BUSN121
Personal safety in the real estate business could be multiple of things and all depends on you as a person. I totally understand the whole not being alone in an open house. I was in law enforcement for seven years and could see that for either sex. When you are doing an open house and as we have talked about you don’t always have the best of crowds come. An open house could basically be an open invitation for burglars to scope out a future “hit”. With that being said depending on when the open house is finished, you will be the person that could lock up for the night and if it is dark, what better way to get into the house without “force entry. You could have your back turned to the entryway and that’s when you are attacked from behind. All kinds of scenarios are possible but that is one that comes to might that could potentially involve both sides of the gender.
One plan that would be set in place is that you call a co-worker prior to showing a house, have a set time that if you haven’t called them back by afterwards that you either start calling or go looking for the agent showing the house. Second would be not doing an open house alone. This way you aren’t alone but there could be one person actually conducting the open house and the other being your second set of eyes for unwanted “clients”.
Everyone always says “oh that will never happen to me” but that’s the thing it does happen more often than people know about it. There isn’t a lot of publicity in the incidents usually, so a lot of people don’t realize the amount of crime that there is in an area, especially in rural and smaller communities.
Yes, the market can change from time to time. I understand that fully and expect it. That’s why being proactive and always being aware of how things are and watching for future signs that will help you prepare. You could always be preparing. When business is slow that’s when the money might not be as steadily coming in. So there has to be a way to feed the family. When big checks come, and you think things are going well don’t go blowing everything you have. Plan for those hard times so that way you can continue to live within your means. Just like when the stock market crashed and housing market after that. People were living outside of there means and caused a lot of trouble for many families acrossed the country.
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Ed – BUSN 220
How has the traditional foreclosure process discussed in Chapter 12 failed under these unusual circumstances? Please discuss that question and at least 1 of the 3 points above.
2. Banks have voluntarily attempted mortgage modification programs for some real estate owners.
The foreclosure process has traditionally been very formalized and rare. Before the era of easy lending a borrower had to put down a significant sum of money to obtain a mortgage. With 20 percent down the borrower had a significant stake invested in his home and was not likely to walk away from it. If the borrower found himself in financial trouble then he had a vested interest in working with the lending institute to find a way to remain in his house while searching for means of repayment. In the past and the present, lenders had little interest in going through the expensive and time-consuming foreclosure process. Both banks and borrowers had a mutual interest in working together at a solution that was beneficial to both parties. During the housing market crash the rate of foreclosures skyrocketed. Lending institutions simply had too many defaults on their hands. Since lending institutions want to receive their monthly payments they found it was beneficial to modify their mortgages to keep homeowners in their homes and monthly mortgage payments flowing. It wasn’t necessarily out of the goodness of their hearts that lending institutions modified mortgages. They did not want to foreclose and then deal with an abundance of properties that would be difficult to sell. Ultimately, necessity dictated a modification to mortgages.
As I prepare to buy a home the thought of facing foreclosure is not something I want to encounter. I will buy a home within my means. If a new housing market crash occurs I don’t want to face a difficult situation.
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