The primary thing that we as agents or the broker/owners of companies need to do is to read the Realtor Code of Ethics. This has been modified over the years to reflect changes in society & our industry.

When it comes to what is "right" the "golden rule" should be our primary concern - "Do unto others as you would have done to you". When representing clients we must always ask, "Who do we represent - both legally & by our actions". Check your state laws 1st - Who do you legally represent? Then check your actions - Who thinks that you represent them? If there is a conflict - your actions may dictate whom you represent. This is the primary reason that some people do not trust our profession - our actions contradict reality.

Nozferatu - Perhaps when the public sees an agent who is not a Realtor acting a certain way, they assume we all act that way. Untrue. Even the public can report an agent to their local Realtor Board if they violate the Code of Ethics. Always make sure you work with a member of the National Association of Realtors. Also, make sure you know who represents whom in a transaction. Don’t assume an agent represents you – a listing agent represents the seller, not buyer & it is their job to get the highest price for their client. Even someone who works with a buyer may represent the seller – it varies from state to state. I don’t make blanket opinions about your profession, please do not make those statements about ours without knowing all the facts. Please limit those comments to an individual’s actions – most of those in our profession are ethical, good people who look out for their client & do a fantastic job helping individuals with their housing & real estate investment needs.

Agents & Brokers - If you adhere to the Code of Ethics and always look out for your client (who you represent) within that context, you will be viewed as a Professional that serves an important role in one of the most important aspects of another's life. You will elevate yourself as a Professional & Expert and protect our business’s reputation and your own.

Hi Annette,

Thanks for the reply.

I'm not making blanket statements since I'm talking specifically about one area of the country and always have been. Other posters keeping thinking others...that part I can't help since I already made it clear which area I was speaking of.

Also, I have never made a comparison between my profession and yours. That again is something other posters keep bringing up with no relevance whatsoever.

What you must understand is in this climate (in my area), the amount of competition and cut-throat practice to buy/sell and take advantage is rampant. It's a frenzy in which buyers/sellers/brokers/agents/mortgage brokers alike are all responsible for spurring on. It's gotten out of control and perhaps that's why NOW the state is actively seeking wrong-doers...alot of people didn't have the time to educate themselves properly because out of fear of missing the boat shall we say.

So we have agents and brokers pushing people into situations that for some turned out very well and for others didn't. But for the brokers and agents it's a no-lose situation. THere are plenty of clients out there for return a return customer base to be irrelevant UNLESS you are in a niche market where everyone knows everyone else.

I believe you need to work here as a broker or agent to realize what's actually going on...and for those who do and don't admit it, then you're playing the self-denial card or are in it yourselves neck deep.

Ethics is a very difficuly thing to define in a market where no one has time to breath or think about what they need to do.

Not true at all. Not everyone who makes money has or wants a home. There are alot of expenses associated with home-ownership that some would rather do without...regardless of their income. I think it's a rather arrogant thing to believe that people would come running to RE agents if they had the money to buy a home.

No it's not about money. I'm trying to point out a thinking process that doesn't involve desperation and panic....I think it's clearly passing over your head!

Men buy diamond rings because it symbolizes something in a relationship and brings stability to the situation. So...you walk into the first jewler and get ripped off?

“Not true at all. Not everyone who makes money has or wants a home. There are alot of expenses associated with home-ownership that some would rather do without...regardless of their income.”
Again, you mention “expenses” and “regardless of income”; if you have sufficient income, why worry about expenses? Either you can afford it or you can’t. I don’t know of anyone, unless they are feeble and or will require nursing care soon, who wants to spend their well-earned money on the landlord.
If you are talking about a housing bubble and or timing to buy, we are talking philosophic and economic decisions, but we are not talking about that.
If you are scared to buy from/through an unscrupulous Realtor or lender, buy from a FSBO and pay cash.
To blame Realtors and lenders for your real estate prices assumes they have allot of power. In reality, it’s supply and demand.
In my city limits we are just opening a 24k acre ranch for development, how are you going to do that in LA? When I worked in El Segundo, people were driving 4 hours each way to get to work, why? Because they couldn’t afford a house closer in. It was economics. However, once their income rose, they would move closer to their work.
It’s always about money, I hope that you will do what’s best for you and your family. If it means renting until you make more money, or move to where home prices are less. It doesn’t matter, because if it isn’t price, it might be 18% interest rates that could determine if you are going to be a renter or home owner.

What do you consider affordable? It's not black and white at all. The current housing market has shown that quite clearly. You personally may think it's ok to spend 60% of your income on a ortgage...others don't. Some may rather rent and enjoy a low montly rental and go out and travel, have a nice car, eat out at nice restaurants.

If I were a millionare I could do all of the above at the same time...but I don't think you grasp this one concept...JUST BECAUSE I have money it doesn't mean I want to be taken for a ride.

That's what you'd like people to think...supply and demand. In reality it's been a panic driven market with people killing each other and clammering over each other to bu and sell. This situation has placed a huge smile on realtors' faces like yourself because you know it's quite easy to play with people's emotions and drive them into a frenzy about buying something. If it were a supply and demand issue, it'd be a constant equation because the demand would always outstrip the supply and you'd never have a slow down. Is that the case? Let's not forget 1996 when people lost their shirts in real estate IN LA too...where demand is so high. Where was the frenzy then?

Again, you're assuming people want to buy rather than rent. Owning a home is great if that's what you really want. Some people do, some don't. For me, while I can afford it, it doesn't make sense to do so and pay what I think is far too high for a home...given the quality of the homes out there and the neighborhoods they are in.

What you are describing to me, are individual choices people make because of economic conditions. For some people owning a home is more important than going out to eat, drive a new car or go on vacations, for others it’s the opposite, and than you have the ones who can afford to do both, own a home and have all the other niceties also.

Have you decided to rent for as long as you live in LA, or are you saving to move into the quality type of neighborhood you desire? What do YOU consider affordable, that’s important. What I consider affordable means nothing, I own my home and my payments are less than most peoples car payments.