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Paul Howard NJHomeBuyer.com Realty... 856-488-8444

Buyer Representation - Seller Representaton. Equal treatment is not FAIR.

When I am 'fair' to a seller that means I won't cheat them. I will also treat them with respect. That does NOT mean I will treat them equally. In fact I will NOT treat them equally. I will use every legal means I have to gain an advantage for my buyer client.

If a buyer wants an agent that will work in that way they should be free to choose such an agent. Does disclosure do that for them? Not necessarily -in fact it almost never does. Buyers often see a house online they like and call the company representing that seller. They usually don't buy that house but if they "like" the agent they may stick with them. They may lose sight of the issue of representation.

What if they look at the house with the agent of the seller and then want to buy it but wake up and want someone on their side because they don't feel they are experienced enough to go it alone? If they try to change, many agents will shout PROCURING CAUSE. Buyers usually don't sign brokerage fee agreements with their agent because the agent goes along with whatever the seller and their agent have decided to 'offer' a buyer's agent as 'compensation'.

AT THE CORE of the issue of dual agency is the commission system. Although lack of proper and timely disclosure is a HUGE problem the brokerage fee system is interconnected.

To make a real change:
- outlaw the system that all too often ties the buyer's agent's fee to an offering from the seller or their agent. They may determine a 'set aside' but should not have the expectation that it will equal the buyer's agent's fee as negotiated independently with the buyer.
-Require agents to have a written contract with buyers as a condition of collecting a fee.
-Start by making it illegal for an agent to collect a commission for a sale unless the buyer has been given and signed a REAL agency disclosure PRIOR TO looking at the house. State legislatures could address this but as I see it it is a federal issue. Much of the money involved is funded by government backed loans. That makes it a legitimate area for involvement by the feds. As it is, the current commission system inhibits competition. It nearly eliminates any chance of competition regarding brokerage fees on the buying side of the transaction and this is facilitated by the virtually universal practice of the MLS "offer of compensation".

Paul Howard, Broker
www.NJHomeBuyer.com Realty
Cherry Hill NJ 08002
856-488-8444
Serving Southern New Jersey
Member:NAEBA - National Association of Exclusive Buyer Agents

Market State July 14, 2009 (Mercer County NJ)

Trend MLS shows the following ( on July 14,2009) for Mercer County, New Jersey.

Homes for sale: 2447

Single detached homes for sale: 1486

Homes under contract: 588

Homes for sale categorized as needing "TLC": 120 (You can bet there are another hundred needing TLC and you won't know till you get there)

Homes sold (settled) in June 2009: 320, June 2008: 349

Homes for sale with at least 3BR, 2 full baths, garage, basement: 764, with price under $500,000 - 392, under $300,000 - 109

That still leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.

When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up.

When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.


NJHomeBuyer.com Realty, is a member of NAEBA (National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today. For more on NAEBA visit NAEBA

Paul Howard, Broker/Owner

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

"Fan" NJHomeBuyer.com Realty on FaceBook


Follow Paul Howard on twitter at:
twitter.com/paulhoward

Market Stats 07-03-2009 Cherry Hill NJ

TrendMLS shows the following ( on July 3,2009) for Cherry Hill, New Jersey.

Homes for sale: 667

Single detached homes for sale: 496

Homes under contract: 107

Homes for sale categorized as needing "TLC": 24 (You can bet there are another hundred needing TLC and you won't know till you get there)

Homes sold (settled) in June 2009: 61

Homes for sale with at least 3BR, 2full baths, garage, basement: 275, price under $300,000 - 90

That still leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.

When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up.

When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.


NJHomeBuyer.com Realty, is a member of NAEBA (National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today. For more on NAEBA visit NAEBA

Paul Howard, Broker/Owner

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

"Fan" NJHomeBuyer.com Realty on FaceBook


Follow Paul Howard on twitter at:
twitter.com/paulhoward

Today's market stats - Cherry Hill NJ

TrendMLS shows the following ( on July 2,2009) for Cherry Hill, New Jersey.

Homes for sale: 667

Single detached homes for sale: 499

Homes under contract:  98

Homes for sale categorized as needing "TLC": 25 (You can bet there are another hundred needing TLC and you won't know till you get there)

Homes sold (settled) in June 2009: 61

Homes for sale with at least 3BR, 2full baths, garage, basement: 275,  price under $300,000 - 90

That leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.  

When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up. 

When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.


NJHomeBuyer.com Realty, is a member of NAEBA (National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today. For more on NAEBA visit NAEBA

Paul Howard, Broker/Owner

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

"Fan" NJHomeBuyer.com Realty on FaceBook


Follow Paul Howard on twitter at:
twitter.com/paulhoward

South Jersey: In the MLS: Days on Market vs Property Marketing Period

What you should know:

What your agent knows = What you should know.
  • Days on Market: May not be an accurate representation of the length of time a property has been on the market because this number only refers to the days on market for one listing of a property. Multiple listings due to withdrawal from market followed by relisting and expiration of listing followed by relisting serve to provide an inaccurate picture of the time a property has been on the market.

    TREND MLS has tried to improve the accuracy of information available to agents.

  • Property Marketing Period: The sum of days on market for multiple listings of one property when there are fewer than 30 days between the end of one listing and the start of another.

    Example: Company A lists #1 Main St. After 120 days the listing expires. 10 days later Company B lists #1 Main St. 10 days into Company B's listing Days on Market is 10 days. Property Marketing Period is 130 days. (One may argue that the true number is 140 days since the 10 day period between listings has been excluded.)

    If the seller had not listed #1 Main St with Company B until 35 days after the expiration of Company A's listing then 10 days into Company B's listing the Days on Market would equal the Property Marketing Period. Both would show 10 days.

    Even in this case, though, your agent has access to the listing history of the property and can find the prior Company A listing period - even though it will not be shown on either the agent reports or the consumer reports that they give to clients.

    The reason the reports that consumers receive from their agent contain DAYS on Market and not Property Market Period is because some agents might not want the buyer they are working with to know this information.

    If you are not told the Property Marketing Period ask specifically to be shown the listing and price history of the property. Use an agent that believes what they know = what you should know.


    Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and they work for companies that maintain that as the core of their business model.

    I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call me today.

    Remember: the $8000 tax credit that most first time buyer's qualify for only is available for those settling on their home BEFORE December 1, 2009.

    Paul Howard, Broker

    NJHomeBuyer.com Realty (member of NAEBA)

    Cherry Hill NJ 08002

    856-488-8444

    NJHomeBuyer.com Realty on FaceBook


    Follow me on twitter at:
    twitter.com/paulhoward