Next Big Idea, Positive Thread

[Mile High Trout]

So now that everything is rolling, and changes are happening everywhere...

Let's have a thread where we can all remain positive & post great ideas & other issues we have come across that gave us hope for the future & inspired us in one way or another.

Please no harsh critisism for appraisers per say, but just great ideas & comments.

I'm stuck on this buyer / seller internet marketplace idea, where a seller would pay to list on a website, managing showings to private buyers. Buyers would find qualification through associated resources, and only require assistance in closing. Value would be determined through a system of several unbiased appraisals, and everyone would save & be safer. I know it's idealistic, but I think it would work, & provide more inherent safeguards, than seen today, dealing with the mortgage salesmen.
:new_2gunsfiring_v1:

 

[RitaB]

Nice idea Jeremy. I'll try to think of some cool stuff to contribute.

 

[RSW]

We have a paid service here in Knoxville for FISBOs called FSBOknoxville.com . Sellers can list their home for a fee and it is sponsored by a local mortgage company. It's a good idea for people who don't want to use an agent.

 

[panappr]

So now that everything is rolling, and changes are happening everywhere...

Let's have a thread where we can all remain positive & post great ideas & other issues we have come across that gave us hope for the future & inspired us in one way or another.

Please no harsh critisism for appraisers per say, but just great ideas & comments.

I'm stuck on this buyer / seller internet marketplace idea, where a seller would pay to list on a website, managing showings to private buyers. Buyers would find qualification through associated resources, and only require assistance in closing. Value would be determined through a system of several unbiased appraisals, and everyone would save & be safer. I know it's idealistic, but I think it would work, & provide more inherent safeguards, than seen today, dealing with the mortgage salesmen.
:new_2gunsfiring_v1:

Not to critisize you but, when inexperienced people try and do things themselves invariably they will be exposing themselves to allot of legal issues.... In California we have a CAR form (purchase agreement) that I wouldn't touch with a ten foot pole. We also have discount brokers that assist in marketing and closing at a reasonable rate. Flat fee $495.00. As far as obtaining unbiased appraisals, the only one that counts is the one that the lender orders? I do see allot of Sale by owner signs lately, but as a typical buyer I personally would rather deal with experienced agents, besides the seller is paying all the commissions. Most sellers are not salesman.

It was an easier day 30 years ago, and it would be nice to back to that. Put an add in the paper and get rid of your house.

 

[stefan olafson]

Jeremy,

Well you got two positive responses before the naysayers hit!

What would have happened if Alexander Graham Bell would have been told his idea about talking over a wire didn't make any sense? He was inexperienced! How about old Ben Franklin, didn't he invent all types of things over his productive life?

Didn't a relatively young inexperienced college dropout go on to own Microsoft?

I'm thinking hard trying to find positives to add to your post.

Good Thinking...

 

[Mile High Trout]

Exactly right Stephan

(& Pannppr) You're right on the money, with the hold ups to this type of sales process. But I can't help but think that the mortgage industry has endangered homeowners on such a vast scale, compared to what the activity of typical con artists achieve. Besides, there can always be new safeguards to any process to improve it. We're seeing that today. The idea I'm talking about is to create options for homeowners & buyers. It's nice to hear about these other options, and I'm going to follow the linkks, and get educated more on existing structures for this type of deal. What if there could be 3 appraisals, ordered from a randomly rotating q of appraisers, and the middle value is kept? Just like big hospitals determine imparement ratings? If there could be a backing organization that helps people come pre-qualified, and help with closing, I think it's a very real possibility on much larger scales. I know it sounds like existing structures, but with more hassle, except by eliminating commissions, the market will find a more natural balance, and will be more stable than it is currently, being subjected to the current mortgage structures pressures. Also goals of full homeowner disclosure will be met, and inappropriate lending ratios & "undisclosed" earning calculations that are fudged will be right out! It seems like it would actually be a safer investment for the bank.
:new_2gunsfiring_v1:

 

[JTRock]

Roughly 85% of FISBOS end up with a realtor. There is a reason why and from my experience it is wise for the typical buyer/seller to be represented by a realtor.

 

[TEL2002]

Sounds like something that could be started at a local community appraiser's get together.

Town X Appraisers meet for breakfast once a month. No dues. No CEU. Just good company and good conversation....leading to good ideas that would benefit Town X Appraisers.

 

[RSW]

Why do so many people have to be negative about things on this forum. Someone is trying to figure out a way to make money and others are trying to give reasons why it won't work. I applaud you, Jeremy for trying. Hope my suggestion helps.

 

[JTRock]

rsw who is being negative? There are some of us that are simply supporting the profession of real estate sales. No one is being negative but simply being realistic.

typical buyer I personally would rather deal with experienced agents, besides the seller is paying all the commissions. Most sellers are not salesman. Yes the typical buyer who does not have expertise/knowledge in the real estate field should always consult and be represented by a realtor. I hope no one on here assumes that real estate sales is easy and the typical buyer/seller can do it on their own.