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Bill Wendel
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Fee-for-service real estate agent assisting DIY homebuyers & FSBOs "a la carte" since 1995
Fee-for-service real estate agent assisting DIY homebuyers & FSBOs "a la carte" since 1995

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Are you a Millennial or first-time homebuyers in an overheated urban housing market? Following housing predictions for 2017? How do you feel about this #DysTrumpian prediction by the publisher of Inman News, a leading real estate tech site?

"Luxury housing market recovers, ...

With a U.S. President who earned his billions in luxury real estate, the high-end market will have a revival as rich people who have been hoarding their cash and hiding out from the redistributionists will tiptoe back into the market."

The wealth gap is real (just ask the National Association of Realtors Chief Economist), and it's just a matter of time before it becomes a drag on real estate. Listen to this NPR talk show today for a primer on Income Inequality's Past, Present And Pending Future and let us know if you'd like to talk about #HousingJustice or #DefensiveHomebuying

http://bit.ly/InequaliTrump

#RealEstate #Millennial #LuxuryRealEstate #PredictRE2017 #Housing #Inequality #WealthGap

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Glad to attend the Agency Disclosure Form Working Group meeting today at the Mass. Association of Realtors. As an observer, did not speak or engage in the spirited editing process. Did share my thoughts on the future of fiduciary duties in real estate afterwards with 3 or 4 people left in the room and send these notes to the meeting chair.

Pre-meeting scratch pad notes
12/09/16
11:40am

As per Mass RE Board, today's meeting = form only, design not substance of form but still "word smithing" -- agency working groups word.

My perspective

Existing disclosure = Obsolete

Why

1. Apps able to look at months of email to Predictive leads

2. RE sites track every click online

3. FCC ruling re personal data

Four levels of reform

0. Informed consent

1. Form: more than print appearance, mobile app & online overdue

2. Video explainers

3. SmartContract = Fiduciary First

Fiduciary reform movement out of National coalition, six year effort

#RE2020

Infomediary / Information Fiduciary coming, lets build into next generation disclosure

Have you seen Castle Doctrine, Realtors @CRTLabs in Chicago seemed to like, want to be in the right side of SmartHome privacy

http://bit.ly/ProtectREra



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Nothing says "Drain the swamp" like appointing a Wall Street financier who foreclosed on 36,000 homeowners:

"Donald was one of the people who rooted for the housing crisis. He said, back in 2006, gee, I hope it does collapse because then I can go in and buy some and make some money. Well, it did collapse."

When Hillary Clinton made the statement above during the first debate, Trump interrupted say, "That called business, by the way."

Now it reflects the headline NPR used to describe "Trump's Potential Treasury Secretary Headed A 'Foreclosure Machine'"

EXCERPT:

"According to the coalition, OneWest foreclosed on more than 36,000 homeowners under Mnuchin. During that time, the FDIC made payments to OneWest totaling more $1 billion. Those payments went to the "billionaire investors of OneWest Bank," says Stein, "to cover the cost of foreclosing on working-class, everyday, American folks," many of whom lived in California."

http://bit.ly/ForeclosureMachineNPR

#Foreclosures #WallStreet #DrainTheSwamp #ImpeachTrump #RealEstate #Housing #ConsumerProtection

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A week after the California Supreme Court issued a landmark ruling on conflicts of interest in real estate, the president-elect's conflict of interests are headline news. Real estate peers and consumer advocates, should voters be concerned? Chief Ethics Counsels for the past two presidents say the conflicts of interest are so fundamental that Trump can't take the oath of office. Watch George W. Bush's former advisor in this CNN interview, then listen to him on the nationally syndicate talk show below, 10-11am EST today:

http://bit.ly/TrumpConflicts

In a comment on Facebook, Doug Miller of Consumer Advocates in American Real Estate (http://CAARE.org) offered this blistering assessment:

"The highest fiduciary in the land has no problem embracing self-dealing and other horribly conflictive relationships. He is an acting dual agency president. This is like no other election. We have just elected a predator who is going to dismantle the best consumer regulator we've ever had (the CFPB), he wants to stop NASA from doing research on climate change, he wants to take down the EPA...We are about to enter the dark ages..."
What's your take?

http://bit.ly/DiscussConflicts

#DualAgency #ConflictsOfInterest #ConsumerProtection #ImpeachTrump #ElectoralCollege #REJECToralCollege #Trump #ConsumerAdvocates #CAARE #CFPB

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FIDUCIARY REFORM: Shot that will be heard round the real estate world -- and celebrated by exclusive buyer agents and consumer advocates. Beginning of fiduciary reform movement in real estate?

http://bit.ly/UpholdREProtectCA

Here are my favorite excerpts from decision by the Supreme Court of California, what are yours?

"As a practical matter, it is unclear how a corporate brokerage like Coldwell Banker would fulfill its fiduciary disclosure duties as a dual agent under the rule that defendants advance."

"Defendants argue that if salespeople owe precisely the same duties as their employers, then buyers and sellers would not have the benefit of the 'undivided loyalty of an exclusive salesperson,' and, worse, '[s]alespersons would have a duty to harm their original client by disclosing to the other side confidential information about the client‘s motivations or the salesperson‘s beliefs.' These are significant concerns, but they are also concerns inherent in dual agency, whether at the salesperson or the broker level."
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Some experienced real estate agents who have been through boom / bust cycles are chatting elsewhere on Facebook about why consumers "don't seem to care" about agency choices.

My take is that the industry has betrayed their clients by normalizing conflicts of interest and what some call "agency fraud."

http://CAARE.org/designatedagency

If we focus on outcomes, can we do a better job of defining benefits of using a real #BuyerAgent versus costs of using counterfeit buyer agents?

If this megabroker has a track record of helping buyers pay 10%/+ over asking price in Cambridge, can a homebuyer make an informed decision to use a #DesignatedAgent / #DualAgent without this disclosure?

If all agents can provide equal access to listings, why would a buyer work with a megabroker with obvious conflicts of interest? Are there other hidden problems that undermine this logic, like #PocketListings and BLIND #BiddingWars?

#InformedConsent #ConsumerProtection #RealEstate #Homebuying #Savings
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.@CRTLabs @ubitquity_io @IBREA_ORG @RESO_RETS @DSearls Big Day for #Blockchain in #RealEstate; see #RE2020 post, VOTE
http://bit.ly/RE2020_VisionW3C

Several weeks ago, a reporter asked me to respond to these questions. Should we create a Google form and invite everyone to respond to these questions before the W3C meeting at MIT, June 29-30?

1) Could you tell me a bit about yourself and your involvement in this area?

2) What are the opportunities for using blockchains in real estate?

3) What are the main roadblocks to adoption?

4) Who is making most progress in making this happen?

5) What are the business models? How is anyone going to make any money out of this?

Comments welcome in the thread below, as well as your vote on this proposal.

http://bit.ly/RE2020_VisionW3C
UPDATE: This Event is June 23 at 3:00pm Eastern

This Hangout will delve into the substantive content submitted for the W3C Blockchain Workshop at the MIT Media Lab on June 29+30, 2016.

This Hangout is intended to provide an online forum for discussion of topics and questions relevant to potential Blockchain web-related standards. The main content collected to date are in the form of position papers and statements of interest, which can be found here: https://www.w3.org/2016/04/blockchain-workshop/#people

During the remaining weeks leading up to the workshop, the ideas and points of view submitted within these papers and other contributions will be reviewed by members of the program committee and key ideas will be identified, clustered and refined for further work as inputs to the event. The remaining Hangouts leading up to the Workshop on June 29+30 will provide opportunities for attendees, program committee members, workshop organizers and other invited participants to identify key ideas and to collectively prioritize a narrower list of topics and questions to be addressed before and during the workshop.

For more information, and to participate in the hangout series, signup at: http://law.mit.edu/blockchain and to learn more about the Workshop, see the W3C official workshop webpage at: https://www.w3.org/2016/04/blockchain-workshop

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TweetUp to hear Doc Searls at Harvard, get update on IIW & #Consensus2016?

The pace of world class conferences that could impact real estate has been overwhelming recently, and will continue through May 2016. Should we use Doc Searls visit to Harvard's Berkman Center, 4:30-6:30pm today to catch-up? Doc convenes #VRM Day & #IIW http://InternetIdentityWorkshop.com twice a year.

You can learn more about and sign-up for Doc's today's event at:
https://twitter.com/dsearls/status/726883625980071936

VOTE on Tweeting up today via #RE2020 group on Loomio:
http://bit.ly/RE2020_PostIIW


#RE2020 #Blockchain #ConsumerProtection #DisruptRE #RealEstate #RETech #RECALL


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