I answered an online inquiry someone made to me regarding HOA (Home Owners’ Association) dues on a property listed by my company. I received an email reply that read, ” The HOA sounds EXTREMELY high. You would have to do a lot more convincing for me to want to look at the property”.

This is an example of how many misunderstand the role of a good real estate broker. And it’s understandable as the process of working with a broker generally ends up in real estate being sold. But in reality, a good broker doesn’t do the selling. Webster’s defines “broker” as “one who acts as an intermediary”.

Granted, there are some agents who do try to sell, to push, to - dare I say - convince a buyer of something.

I am not one of those agents and most good brokers aren’t, either.

Who are we to try to convince someone what they like or where they should live? We’re not going to be making the mortgage payments or mowing that yard or living amongst those neighbors.

A good broker’s job is to facilitate the process of someone achieving their goal in buying a house. As much as anything the broker should play devil’s advocate: point out things that a buyer, nervous and excited about the prospect of moving, may miss. A buyer will know whether they like the size of the backyard but they may not think about the fact that the garage is on the other side of the house from the kitchen and groceries will have to be schlepped through three rooms. Or they may not realize when they’re looking at a house on  Saturday that there’s a trucking company just on the other side of the woods where tracker trailers will be coming and going from 7AM to 7PM every weekday. Or they may not know that the seller is asking more for the house than anyone has paid for a property in that neighborhood ever.

A good broker has no preference what a buyer buys, so no convincing is required.

Now, I have tried to talk buyers OUT of a purchase. But even that is only up to a point. My job is to make sure that whatever choice a buyer makes is a thoroughly educated one - for better or worse.

To be blunt, it doesn’t make a difference to a good broker what a buyer buys as long as they’ve got the information they need and they’re happy with their decision.

A good broker should make suggestions in regards to offering price and terms. But remember that the contract is between the seller and purchaser. The broker is NOT a party to the terms and therefore the negotiating is done between agents but on behalf of the principles. Although a broker can certainly advise you regarding the price of a house, the  broker can’t get you a better price. That is between buyer and seller.

A good broker offers guidance, suggestions, helps give perspective and provides distance between parties who are probably anxious and apprehensive. It’s the brokers job to keep cool so that you can have a nervous breakdown without hurting your negotiating position.

So, I responded to the person who made the inquiry about the HOA dues that I wouldn’t try to convince her of anything but had provided information which she requested and would be happy to help her find something that suits her better. I don’t expect to hear back.
For the record, those dues are crazy high. I wouldn’t buy that place!

So Freddie and Fannie are in trouble and need to be bailed out. Well, for once, those two aren’t relatives of mine.

They are actually known as Freddie Mac and Fannie Mae - although their formal names are Federal Home Loan Mortgage Corporation and Federal National Mortgage Association, respectively and they are holders of roughly half the mortgages in the country. And they are in worse shape than any of my relatives, which is saying a great deal. You can read more detailed information about them here.

Just like so many other holders of mortgages, they were left with a lot of crap on their hands. Sub-prime. Interest only ARMS. Ick. Yuck. Crap, crap, crap. The hell of it is that, with all the bail outs and forclosures and bank failures, there were millions of dollars that were made by people who should have been looking out for those who were borrowing money to buy their homes - often their first homes.

Just as in physics where matter can neither be created nor destroyed, money doesn’t just disappear. There were trillions - yes, trillions - of dollars that have flowed in and out of the housing/mortgage industries and while some are left with less than when they started, a few have a lot more.

I take comfort in the idea that those few are camels and there is an eye of a needle waiting in their futures.

I am no financial expert. But the people who are and have been hired specifically to monitor the economy and forestall such things happening couldn’t have done worse than I would have. Or you would have. Or the lint from my dryer vent would have.

So, not much to say here other than its best to keep one’s head all about are losing theirs, apologies to Rudyard Kipling.

In other words, keep the faith. This isn’t the worst of times. Certainly not the best, but far from the worst.

Now I’m going to go watch the season premier of “The Closer”, have a glass of wine, and try not to think ill thoughts of The Suits.