The State Of The Business : The Gene Molloy Real Estate Blog

The Gene Molloy Real Estate Blog

Jan. 31, 2008 - The State Of The Business

It's true, sometimes I ignore my blog. I only seem to get back to it when I have something to rant about. Sure, once I get on a roll and back to blogging I dispense a tidbit of useful information here and there before I get to busy to blog again, but sometimes my entries get far and in between.

This entry is a rant, to be sure. Inspired by "The State of The Union", I have titled this "The State Of The Business".

I have been somewhat busy doing work on a deal over the last few days. There were some issues with the buyers wanting their home inspector to do a roof inspection on the roof of a condominium. The access hatch to the roof is locked. Researching The American Society Of Home Inspectors' Standards of Practice, I found that under Section 13.2 General Exclusions Paragraph E. Line 6 it states that "Inspectors are NOT required to inspect common elements or common areas in multi-unit housing, such as condominium properties or cooperative housing". I also found that their definition of inspect is: "To examine any system or component of a building in accordance with these Standards of Practice, using normal operating controls and opening readily openable access panels". Add to that, the liability issue posed to the Condominium Association by having someone who was not required to be, and not really qualified to be up there, up there seven stories in the air on a windy, snowy, icy day, there was no way that this "roof inspection" was going to take place.

Then came the part were up until today, the last day of Attorney review, nobody had called the management company for the condo docs, the rules and regulations or the budget. Fortunately, I happen to have copies of all of the needed documents so I was able to supply them at the last minute. That's a good thing too, cause without that this deal might never get to the closing table. After all, isn't that what we tell our clients our only mission is, to get them to the closing table? Yes indeed, we tell our clients that by hiring us to represent them, they will have nothing to worry about. We as their agents will dot the i's and cross the t's because we know what it takes to get it done. At least that's what I tell my clients.

The problem here is, I don't have any clients in this deal. The sellers interviewed me. They didn't like my market analysis. They thought I wanted to list their condo too low. They hired another agent who ultimately, in the 335 days that the unit was on the market, lowered the list price to what I wanted to list it for on day one. That same agent thought nothing of calling me up to bail her out because I list a lot at this particular property and I have a splendid relationship with "management".

This my friends, is a fine example of The State of The Business. No wonder the housing market is so shaky. Some of the people who were supposed to be looking out for their clients probably didn't have good hearted professionals like myself looking out for them.

Do me favor would you? You don't really need to understand what this means, just pray for the thinning of the herd.

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

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Jan. 31, 2008 - RE: The State Of The Business

Posted by Maureen McCabe

How does Bonnie always beat me here? or does she just hang out in your sidebar as a recent reader?

You are a good soul to have helped the folks in that transaction. I was wondering which side you were on...

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Here you will find thoughts, opinions, rantings, ravings, news, views and other things I think you may find useful. I will publicly answer questions here, so that many may benefit from the curiosity of my visitors, community created content if you will. I am trying to attract "experts" in various fields to comment on different topics of interest, we will see.