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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

Sequim's No.1 Buyer's Agent Where Knowledge & Experience Count.

(360) 775-5424
Email: ChuckMarunde@gmail.com

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125 Olympic Ranch Ln, Sequim, WA 98382

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Real Estate Referrals – Blessing or Curse?

by Chuck Marunde / Friday, 24 June 2016 / Published in Real Estate Agents

Real estate referrals can be a blessing, but did you know a referral can also be a curse?  It’s true.  Let me “make the point as delicately as I can,” as the Russian Ambassador said in the movie Red October.  Everyone has a friend, right?  Every accountant, every lawyer, every doctor, and every real estate agent has friends.  Friends will freely give real estate referrals, right?  But where is the filter protecting you from getting referrals to someone less than qualified?  People hand out the name of a friend or an acquaintance they don’t really know professionally to other people all the time.  But accepting a referral without your own careful research could turn into a well intentioned curse.

Real Estate Referrals

Real Estate ReferralsA gentleman hired a real estate agent just because he/she was in his circle.  Circle in this context can be any group, association, club, union, political affiliation, gym, company, non-profit, or even a church.  It turned out his agent didn’t have the experience to deal with what turned out to be a difficult client, a negotiation that required advanced skills, and complex due diligence issues that had to be addressed diplomatically.  The transaction was on the ropes several times.  Had it not been for an experienced professional agent on the buying end of the transaction, the transaction would never have closed.  The seller simply hired an agent referred to him, and the only filter was that he and the real estate agent were in the same “circle.”  He did no other due diligence on his agent.

Now let’s pause for just a second, because there’s a lot of money at stake here–yours.  If you only have one filter, one qualification for selecting a real estate agent, and that one filter is he/she belongs to your club or association or gym or church or whatever, that’s no filter at all.

If the only filter is a referral from someone you know who knows a real estate agent, then where is the filter protecting you?  Where is the filter for important things like real estate education, real estate negotiating experience, experience in marketing and sales, experience in legal issues, knowledge and experience of due diligence items, experience in handling difficult and numerous real estate issues, honesty and integrity, availability, and other relevant qualifications.  Granted, if the person giving you the referral already did all this due diligence to protect you, that would be great, but in 95% of the real estate referrals I’ve seen in several decades, this is not happening.

Real Estate Referrals a Curse?

A couple hired an agent to list their property, but after a year of nothingness, no activity, almost no communications, and virtually no marketing of their listing, they let the listing expire, very disappointed.  Their real estate agent was a referral from an acquaintance.  I cannot tell you how many times I have heard stories of nightmares, and they were the result of real estate referrals that turned into curses.

Real Estate Referrals – Plus Your Own Due Diligence

Next time someone gives you the name of a real estate agent as a referral, write the name down, but do your own due diligence back home at the computer.  Please, for your own sake, do not blindly accept real estate referrals without doing your own research to protect yourself.  In an earlier article about real estate referrals, I wrote this:

Consider this.  You spend $300 at a doctor’s office, and you expect that doctor to have University degrees and advanced medical degrees and a long internship, plus you also want a senior doctor with many years of experience.  When you see a dentist, you also expect him to have 18+ years of education and a lot of experience, and you expect all that even if you are only spending a couple of hundred dollars.  We expect and demand that our kindergarten teachers have four year degrees and state certification before we even let our children into that classroom.  So when you invest your life savings or several hundred thousand dollars in your retirement home, shouldn’t you demand that your real estate agent have a relevant education and the experience that will protect you and help you meet your goals?  Finding and hiring a good real estate agent ought to be high on your due diligence checklist.  There’ s a lot at stake and you are the one who stands to lose if anything goes wrong.

If you would like to read more about what a qualified agent looks like, read What Defines a Good Real Estate Agent and Buyers Want Qualified Real Estate Brokers.  Here’s a rhetorical question for you.  Why wouldn’t you hold your Realtor to the same high standards you hold other professionals you hire?

This is probably one of  the most consumer oriented real estate sites in the state of Washington.  We share freely, offer insider information that helps consumers, and educate consumers on the major pitfalls when buying and selling real estate.  Many clients have saved tens of thousands of dollars with our advise, not to mention avoiding litigation, reducing stress, and getting transactions closed.  This article about referrals was long over due for consumers.  Next time you need a real estate agent, beware that real estate referrals can be a blessing or a curse.

Possibly Related Posts:

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  • Beware Bad Real Estate Advice

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Tagged under: Real Estate Agents, referrals

About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

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From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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