Most people don't buy or sell houses very often and the laws and rules are always changing. Who has time to read the fine print . . which as of 2007 is no longer fine print because here in MN we have laws about the size of the print on the contracts.

This post is a kind of public service message that I like to run once a year.  Today is the day.  This applies to Minnesota, real estate is locally regulated so it may not work the same way in other  states.  There are five kinds of agency relationships in real estate recognized by the state of Minnesota:

1. Seller's Agent: representing and acting for the seller only. May be a listing agent, or any REALTOR® licensed to the listing broker, or a selling subagent.
2. Subagent: a broker or salesperson who is working with a buyer, but represents the seller.
3. Buyer's Agent: representing and acting for the buyer only. As with a listing contract with sellers, an agreement for buyer representation must be in writing.
4. Dual Agent: one licensee representing both the seller and the buyer as clients in one transaction, or two agents licensed to the same broker, one of whom represents the seller and one of whom represents the buyer in one transaction. This requires  full disclosure and informed consent of both parties. Dual agents have a limited role, must not advocate or negotiate for either party, and must not act to the detriment of either party.
5. Facilitator: a real estate licensee who works for a buyer, a seller or both in a transaction but does not represent either in a fiduciary capacity as a Buyer's Broker, Seller's Broker or Dual Agent. Facilitators may perform services for consumers, but do not represent them. Facilitators are bound by license law and common law, but owe only the fiduciary duty of confidentiality unless other fiduciary duties are agreed to between licensee and consumer.

Buyers and sellers both like to ask me if I am a buyers agent, or a sellers agent.  Some of these conversations have revealed some mis-information about dual agency.   Dual agency happens only when an agent, or the agents broker, or more than one of the brokers agents  are working on behalf of that broker and representing both parties in the same transaction.

I am both a buyers agent and a sellers agent.   I encounter situations where I am asked to play both roles in a single transaction.   I have represented both parties in a transaction but I prefer not to.   Dual agency is a bit different in than buyers agency or sellers agency in that the agent can not advocate or negotiate for either party.  Takes the fun out of it for me, and I still believe that both parties are better off if they each have their own agent.

As an agent I find that my experience as a buyers agent and as a sellers agent helps me with both roles.  When it comes to negotiating an offer no matter which side I am representing I have a clear understanding of what the other party might want, or how they might be feeling about it all. 

Real estate is about people and buying or selling property is a large and important transaction, and there are always emotions involved.  Having experience with sellers helps me advise buyers and having experience with buyers helps me advise sellers and understand how to market their home.  I can see the home through the buyers eyes, just as I can see the buyers offer from the sellers point of view.

If I were choosing an agent I would not consider it an advantage to work with an agent that is not representing both parties in the transaction.    I would consider it an advantage to have my own agent representing my best interests instead of an agent who is operating in the dual agency role and representing both parties.  Like it says above:  

"Dual agents have a limited role, must not advocate or negotiate for either party, and must not act to the detriment of either party."

Buyers who go from open house to open house or the agent listed on each sign, to see each home,  run the risk of working with an agent in a dual role.  Get your own agent. There is still a myth out there that agents can only show their own listings.  We can show any home listed in the MLS, this is called "broker reciprocity".  It helps sellers because all agents are working to sell their home and it helps buyers because they can work with any agent from any company to buy any piece of real estate.

 
The Dunn Bros opened last February they took the place of the Starbucks.  I like this coffee shop because of the location. Apparently the man reading the paper likes it too and I apologize for taking his photo.  The street looks so nice this time of year with the hanging baskets and the tables and chairs out on the sidewalk that taking a picture seemed like the thing to do. . . after I bought a cup of coffee.

By Erik Hare

It’s the first day of summer, one of the four seasons we love so much in Minnesota.  To many people, though, it’s nothing more than the “other” season.  We have Winter, which we’re famous for, and we have the flowering of tubineus naranja – the orange cones that sprout like a kind of weed in the middle of our roads.  It’s road construction season in Minnesota!

This year is like pretty much any other in most ways, but it seems a bit worse.  We don’t have to worry about ice and snow hampering our way to work, but we do have to wait in a long line to squeeze through one lane.  Which season is more frustrating?  At least during road construction, we have a guide.

The websites provided by MnDOT can tell you just what to expect in either text or graphics.  There’s no reason to not know just what’s up.  This naturally creates a lot of discussion about how to get from one place to another once the best ways are marked off by the orange cones.  It’s not the most exciting discussion in the world, but it’s terribly important all the same.  It might make the difference between getting home in time for dinner or not.

It’s entirely possible to get into an elaborate discussion with a perfect stranger in a bar about the best way to get to, say, Shoreview.  Road construction eventually becomes something like a pastime to be analyzed the way you might follow the batting averages of your favorite Twins player.  There are so many of the orange cones flowering through the asphalt that it becomes something like a sport.

This won’t go on forever, of course.  Sooner or later, the cold weather will return and the orange cones will wilt like any flower.  But at the start of summer, they have their magnificent blooms all over Minnesota.  It’s worth visiting the websites to know exactly where this show is playing – so that you can do your best to avoid it.  Good luck!

They come from everywhere to worship the bean. Cloud Gate is a public sculpture by British artist Anish Kapoor. It is the centerpiece of the AT&T Plaza in Millennium Park in Chicago . . .  it is bean shaped and Made of polished stainless steel, people come from all over the world to gaze at the bean, and take pictures of it or of their reflection in it.  I enjoyed the people watching as much as I enjoyed taking the photographs. We need a bean in St. Paul or Minneapolis.

It is Friday and Fridays are for fun. The point of the Friday fun thing is that I write about most anything and in this case it is fun for me and maybe not so much for you.  Theft is not funny but if you are me you have to have a sense of humor about everything, and I do mean EVERYTHING.

The first photo is stolen the most. It is easy to spot because of the vignetting and the drop shadow frame. It is on Flickr and I have tagged it "most stolen".  I have found it in the lobby of the Rossmor building.  Some of the residents use it to advertise that their unit is for rent. I have found it on a few Realtor web sites and it is on the MLS in a couple of places. I never really liked the photo because of the perspective, and because of the way the top of the building is cut off.  Every  time I see it I cringe. I now have a better photo of the place but I am not telling where it is. You can take your own &^%$#!! photo.The Rossmor photo is Creative Commons that means anyone can use it but . . "You must attribute the work in the manner specified by the author or licensor (but not in any way that suggests that they endorse you or your use of the work) "

Our MLS does not allow for photo credits so that means you can not put it in the MLS. You can use it on your web site and give me a photo credit and link back to this blog. Chances are your web site doesn't get any traffic and no one will see the photo or the credit anyway but what the heck. .

This photo of Mears Park is not stolen as often as the one above . . . or maybe I have not found them all.  I have found it on a few web sites and there is never any doubt that it is my photo.  It was taken last year and the park does not have the same flowers in the same places each year.  I also used HDR processing on it which really makes it unique. When a friend saw the photo on a web site he told me that he was sure it was mine because the wood chips are in the same place.There are some who instantly recognize my work and send me a note when they find one of my shots on someone else's web site.

I share many of my photos and usually ask for a photo credit. The Mears park photo is copyright.  When I find the photo on the internet I send a cease and desist email. In the email I ask the thief to immediately remove the photo.  Usually they do and I don't have to take any other kind of action.

For the Realtors who steal them . . and I have to say there are two of my photos of the Rossmor on another agents web site and in the MLS right now . . you need to know that I don't share my photos with direct competitors. I have taken photos for some of my competitors but I charge for the service. Camera lenses are expensive and I like mine to pay for themselves quickly. 

If you are using some of my photos right now please contact me. Like I mentioned above I know where some of these are right now and the cease and desist letters are ready to go. For non profits I usually just say yes when they ask to use a photo.  For businesses I usually say no unless they want to pay for them, or give me a link or . . . we can work something out, but you can't just take them because that is wrong.

This was fun to write. See you on the internet and have a great weekend!

There are many distressed home owners out there and by distressed I mean struggling to make mortgage payments.  There are also a lot of struggling real estate agents trying to make their mortgage payments.  I get at least one email a week outlining how I can get rich by helping home owners with loan modifications.

A loan modification, or loan mod as the spammers call them are when the borrower can renegotiate the payments with the lender. There isn't any need to pay for help with a loan modification because the borrowers can do it on their own or they can get help for free through a few non profits like the Minnesota home ownership center.

As for real estate agents who want to get rich doing "loan mods" please make sure that the program you are getting involved with is legal in Minnesota, some of the for profit loan modification services are not legal.  Different states have different laws and the mortgage and real estate industries are regulated at the local level.

From looking at my email I would say that the number of scams out there are at an all time high.  Please be careful and if your real estate agent offers to help with a loan modification ask a lot of questions. Also see the Minnesota attorney generals web site for information.

by G. Sax

I work in real estate, and I play in St. Paul. Sometimes I work in St. Paul, too. Like last Friday. I went on my final longish training run before my first ever marathon this upcoming Saturday up the way in Duluth, Minnesota (wish me luck!).

I see a lot of cool things while running around St. Paul. Cool houses. Cool coffee shops. Cool parks. Cool dogs. Cool people. And sometimes I see cool, photoworthy stuff. I'm not so cucumber cool as to carry a camera with me while I'm cruising the capital city like Ed does over in Minneapolis. Ed's done the marathon thing a few more times than I have; plus he thought of the camera thing first, and I try not to be too much of a copycat.

But after my run, I did retrace my route via car and took a couple of shots that caught my eye.

In the Northwest Como neighborhood: Quotable Cooper. I like an elementary school that draws inspiration from the shock rock lexicon.

Off of Pierce Butler Route: The final day of Minnehaha Lanes.

It was a little sad to see the teardown of the old bowling alley. My grandma bowled in leagues there. My mom bowled in leagues there. I had a red, flame-painted bike with a banana seat get stolen from there. My five-year high school reunion was held there several years ago (and I got really, really drunk there). I took my kids there a little over a year ago, and we had so much fun we bought an extra game. Even then, the employees knew the Lanes' days were numbered.

So long, old friend. Here's to hoping your land is redeveloped right. I'll think of you fondly while finishing off spares over at Midway Pro Bowl.