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Monday, Feb. 12, 2007 | Re: the Re/Max overpayment issue.
I obtained my Real Estate Broker license in San Diego in 1982. I’ve sold real estate in Oregon and lived in the Bay Area since 1998. I own a home here but I’m moving back to San Diego — Go Chargers!). That being said, what differences do I see between the Bay Area and San Diego?
Based on listing information at www.realtor.com
1. San Diego MLS categorizes condos and townhomes as Single Family Residences. They aren’t. Result, buyer inability to compare prices.
2. San Diego does not provide addresses. Result, buyer inability to compare prices.
3. Many firms use a range of prices which has no logical rationale. Result, buyer inability to compare prices.
The bottom line, notwithstanding all the legal mumbo-jumbo about disclosure and representation, is that the agent representing the buyer has not only a fiduciary duty but a moral obligation to fully disclose anything that affects the buyer’s decision-making. I think you can see from the RE/Max issue and how the MLS deals with listings just how much San Diego realtors really buy into that philosophy.