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This is not Real Estate for Dummies. But, it probably should be. The basic definition of dual agency is “The same real estate agent is representing both buyer and seller in 
the same transaction”. Dual agency is the single worst issue involved in real estate. The average “Joe” out of the street easily understands that dual agency is WRONG. This seems like common sense to the regular guy. So, why can’t the politicians and many real estate agents & brokers understand this simple terrible concept? The main reason why dual agency exists is because of the glorious MOOLAH. Real estate brokers and agents have a huge financial incentive to be involved in a dual agency transaction at the detriment of their buyer or seller. Dual agency has no benefits to protect the consumer (buyer or seller). One of the simplest and best examples that I’ve ever read about the problems of dual agency actually came from a traditional real estate agent (Matt Difanis) in Illinois and not an Exclusive Buyer Agent. A few years back, Matt had a sent this letter to the Realtor Magazine.
Here is another real simple definition; agency is when a real estate broker discloses “who” & “how” they are going to represent a buyer or seller. Home buyers need to STOP spending all their time on the Internet looking at pretty pictures of potential homes and START spending more time fully understanding all types of agency (dual, single, transactional, limited or designated). Understanding agency is definitely not the most exciting part of the home buying process. As a matter of fact, it is down right boring. But, PLEASE, PLEASE, PLEASE; before you start down the path of buying a home make sure you spend time fully researching everything. As with many major financial decisions (car, home, vacation, etc.) most of us end up rationalizing decisions based on emotion, don’t make a decision based on emotion!!
Non-disclosed dual agency is ILLEGAL in all 50 states. But, only a few states have made (disclosed) dual agency illegal. Dual agency should be”outlawed” and made illegal in all 50 states. If you are a buyer or seller involved in a dual agency transaction and you don’t completely understand dual agency than you should immediately contact or RUN to your nearest real estate attorney.
Here are a few other good blogs and web sites that just say NO to dual agency: Bloodhound Realty & Homebuyer Representation
Representing People, NOT Property!
The Energy Policy Act of 2005 offers generous energy tax credits to consumers and businesses that purchase fuel efficient cars and/or energy efficient items for their home. 
Homeowners can receive a tax credit up to $500. Homeowners that purchase and install certain energy efficient products for their home such as; windows, exterior doors, heating and cooling systems, water heaters, storm doors, insulation, etc. (see chart for more information) prior to the end of the year will be eligible for the tax credits. The energy tax credit program is scheduled to end December 31, 2007. So HURRY up and ACT now! A tax credit is more beneficial than a tax deduction. A tax credit reduces your actual tax amount due “dollar for dollar”. A tax credit can provide substantial savings to the homeowner. Click here for more information about tax credits from the Internal Revenue Service (IRS). Good luck and stop procrastinating. Uncle Sam wants to give you money for going GREEN!
Another great, informative web site to check out is the Energy Star Program.
eSORN is the electronic sex offender registration and notification web site for the State of Ohio. Attorney General Mark Dann has implemented one of the most advanced and effective web sites in the country to deal with sex offender notification. Most states have a antiquated patchwork system (mailing postcards) to notify the public of sex offenders in their community. The eSORN database is one of the first systems in the country to link all of the state’s county sheriff’s offices and correctional facilities records offices together. The eSORN web site is easy to use and provides great information to the public. Some of the great benefits of the new system are:
- Email Alert; you can quickly sign up to be notified via email if any sex offender moves into your community (within one mile)*.
- County Sheriff Offices; “one click” access to contact your local county sheriff to obtain more information or to submit a tip/sex offender.
- Instant Offender Search; you can instantly search to see which sex offenders currently live in your community. A great map tool**.
- Most Wanted List; View a list of the state’s most wanted sex offender
Everyone should check out the new eSORN system today, especially if you are thinking about buying a new home.
*To ensure that you receive email notifications please place notifications@icrimewatch.net in your address book and adjust your bulk or junk mail settings.
**make sure any “pop up” blocking utility program are turned off.
Did you know that the “Do Not Call” list is expiring? Don’t fret, most of us didn’t know either!
The National Do Not Call Registry was started 5 years ago (September 2002) to protect us from annoying telemarketer jerks and “phone spammers”. The “Do Not Call” (DNC) list has been an extremely popular piece of legislation with the public. Nearly half of the 140 million phone numbers in the DNC list were registered within months on the new law taking effect in September 2002. Your phone number is only vaild on the DNC list for 5 years after you have registered. You have to re-register every 5 years or your phone number will expire from the DNC list.
So take a few minutes to re-register all of your phone numbers (up to 3 phone numbers). You can also register cell phone numbers. In the past, fake email scams and bogus information circulated on the Internet that cell phone numbers would be under attack by telemarketers because cell phone numbers were exempt from the list. This is totally FALSE. Get the real scoop here: http://www.ftc.gov/opa/2007/02/dnccellphones.shtm
Please make sure all of your friends, family members and co-workers are aware of this information. No one wants to start getting “bombarded” again with phone calls at dinnertime regarding lawn care specials, 20% discounts on duct work cleaning for the next 30 days and the “most popular” annoying telemarketing call of all time; how to save money on your long distance service.
Here are some “FAQ’s” that also might help you.
Good Luck!
In early August, Governor Ted Strickland signed a new, expanded Homestead Exemption Act that will provide tax savings (money!!!) to qualified senior citizens and disabled Ohioans. The Homestead Exemption credit has been in effect for years. But, in the past there were very restrictive income requirements to qualify for the credit. 
The BIG NEWS now is that the new Homestead Exemption has NO income qualifications. If you are 65 years or older and a homeowner in the State of Ohio then you can reduce your taxes and save money just by filling out a form (Franklin County) and sending it in to your local county auditor.
IMPORTANT; completed form must be received by your county auditor by no later than October 1st, 2007. Please, you don’t think our government would give us anything free or make it easy. Good news is that the form is very simple to fill out. So don’t delay.
For example, if you have a home with a market value of $100,000, you would get billed as if your house was worth $75,000. The average savings to you would be $400.
Don’t fret if you don’t qualify for the new credit, just contact your parents, grandparents and other family members that might qualify for the credit. Your family members will be so happy that you saved them money that they will put you back in their will. Voila, you are in the money!
You can follow the links in this post for more information. Please contact your local county auditor for more information on eligibility and tax savings.
My Buyer Broker Advocate! 
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