#RECALL: Crowdfund effort to organize homebuyers, reform real estate

Breaking News: Legislature tables bill to disclose real estate commissions

In an age of transparency, the real estate cartel still plays by their own rules: commissions are tied (some would argue price fixed); offers are submitted in BLIND bidding wars, mega-brokers routinely engage in conflicts of interest, brokers hide pocket listings so they can collect double commissions but deny consumers basic rights (see language from bill in Colorado):

“[C]onsumers should be legally entitled to clear disclosure of the cost of the service for representation real estate agents”

Isn’t it paradoxical that transparency only goes in one direction in real estate? You won’t believe what predatory / predictive real estate business models know about your personal data and how they violate your privacy.

BACKGROUND:

Significantly, 2017 marks two 25 year anniversaries for real estate consumer advocates:

1. On October 28, 1992, Ralph Nader delivered his first speech on real estate; and

http://bit.ly/NaderAimRE (share via social media)

2. On December 2, 1992, real estate was called the “Sleeping Giant of the Consumer Movement” (12/2/92)

That’s why attending a Master Class for Citizen Action with Ralph Nader, which is being called a “once-in-a-lifetime weekend of learning and planning for action,” would be an extraordinary opportunity!

http://bit.ly/NaderCrowdFund (share via social media)

If you were among the 170+ people who commented recently on an opinion in the Boston Globe about Boston’s Broken real estate market, you know that’s true. You might even be wise enough to know that the real estate market is dangerously overheated again, which is why we’ve advised homebuyers to sit out the Spring market. That means there’s not enough money to meet regular expenses; not to mention these important upcoming events:

5/1-4: VRM Day / Internet Identity Workshop, Computer Museum in Silicon Valley;
5/11-12: Consumer Assembly hosted by Consumer Federation of America, DC;
5/17-19: Realtors Legislative Meetings & Trade Expo also in DC; ; or
5/18-19: MIT’s World Real Estate Forum here in Cambridge, MA.

Over the past 20+ years, Real Estate Cafe has self-funded those trips and hosted debriefings after attending real estate tech conferences around the country. This year, real estate consumer advocates are working closer to home. In recent weeks, we submitted at list of 10 issues to the Mass. Attorney General’s Office and a request for regulatory enforcement to Mass. Office of Consumer Affairs.

http://bit.ly/MassAGOv3 (share via social media)

To make progress, real estate consumers need a mobilization strategy; that’s the goal of attending the “master class” with Ralph Nader. In exchange for your financial assistance of at least $50, you’ll be invite to a small group debriefing; or private meeting if you stretch to $100. If you can double that, let’s collaborate on something special — a RECALL RoadTrip, #REonTap (Real Estate on Tap), or Defensive Homebuying seminar — to expand our coalition of real estate consumer advocates and educate / empower consumers.

+ + +

FLASHBACK:

It’s unlikely that any homebuyer will be dragged out of an open house but it IS likely that the industry will face its own United Airlines crises in the future. Which issue will trigger a headlines like these from 2008?

BusinessWeek:
Consumer Vigilantes / Memo to Corporate America: Hell now hath no fury like a customer scorned
http://bit.ly/ConsVig2008

New York Times:
Feeling Misled on Home Price, Buyers Sue Agent
http://bit.ly/Misled2008

NEXT STEPS?

If we develop enough momentum, let’s explore an event this Fall to mark the 25th anniversary of Ralph’s first speech on real estate. He warned change agents that buyer agency would be coopted; and regrettably, Nader was right. It’s time to right that wrong.

http://bit.ly/RESeedREv (share via social media)

Uncertain times invite collaboration and cash flow constraints require crowdfunding; can you help?  If so, please contact @RealEstateCafe or donate to one or both of these campaigns:

http://bit.ly/CrwdFndNaderClass (share via social media)

http://bit.ly/BidWars412v17 (share via social media)

Posted in #REonTap, Bidding wars, Consumer protection, Crowdfunding, Defensive Homebuying, Dual Agency Detective, Homebuyer Clubs, RE2020, Real Estate Consumer Bill of Rights, RECALL: Real Estate Consumer Alliance

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