What do you miss by going to a website's favorite features? If you're a creature of habit, you may miss exactly the kind of news and innovations you're looking for.

A Realty Times reader asks for more local coverage for real estate news, not realizing we are the pioneers of Market Conditions Reports, the only news feature on the Internet that reports local real estate news.

Will B. writes:

I would like to first say that I read your articles almost daily. For the most part, I find them somewhat interesting. I, however, find that there seems to be a large open space, if you would, accurately describing the local market conditions. Can you offer some explanation for this lack of information?

Also, we seem to be, almost all of the time, totally focused on information that is at least two months old. Historically, we are seriously behind the curve, and we also seem to repeat reverse situations at will.

In other words, the only thing that is clear here, is that there is absolutely no clarity at all.

The local real estate business here where I reside is driven by the agents. As you would agree, 95 percent of the agents are non productive per se. In short, in an office that has garnered fifty (50) agents on the list, maybe four or five are actually producers. The rest are simply in the swim.

I cannot remember ever being asked for or given the opportunity to explain why some produce and others hang on to their business cards, and are in actuality a secret agent.

There is a reason for this phenomenon, if you wish, but it is more deliberate that it is a case of chance.

The real producers here work for the seller, not the buyer! Surprised! Well, I would not be hard pressed to say that most of the agents in this local (sic) have absolutely no idea of what their farm area consists of. Again, they have no idea of how many homes sold last year and for how much. Their idea of a farm territory is, "Oh, well its mine so I know where it is."

I would like to see more information on the local areas, and not subject every area to the same information particular to the northeast, southwest, west or the midwest or whatever area. The information should be pertinent and not of national conjecture.

What about this, and can it be done? Signed, Will B.

Realty Times responds:

Dear Will B.: You didn't mention where you live, but local real estate news is available. We appreciate that you read our articles, but have you checked out our front page recently? On the front page of every edition of Realty Times is a feature that provides local market conditions provided by the people who should know best what's going on in their locales -- the real estate agents. This feature is called Market Conditions, and it's ours -- exclusively.

Since we provide the information you're seeking, I'm at a loss to explain why other websites don't, except that they might infringe on our patent.

Certainly, local newspapers run stories about the local market. Can you access your local paper online? As far as "we" being focused on information that is two months old, I beg to differ. Realty Times brings timely reports on data relative to the residential real estate sector as soon as we can get it, and we're known for a number of breaking stories, which means you get it here first. These facts and figures do tend to be national in nature, but they're interesting and relevant, nonetheless.

I'm not sure why you mentioned the lack of productivity of agents -- that doesn't seem pertinant to your request for local real estate news. Maybe you don't understand how real estate works.

Sellers give their homes to real estate agents to market them under a listing agreement. That's a contract, so it's no surprise that most agents work for sellers. You may also live in a state where there is a default representation. In other words, absent a contract, all real estate professionals work for the seller. In some states, default representation means that all agents work for the buyer unless otherwise disclosed. When you go to work with an agent, you should receive an agency disclosure from your agent that tells you how agents work within state laws and what your agent's responsibilities are to you. It is possible for an agent to represent the seller as a fiduciary, and also represent you as a buyer in a non-fiduciary capacity. It can work as long as you are disclosed properly and agree to the relationship. If not, get another agent.

I suspect that the reason you told me this is that you have either been disappointed by the lack of professionalism that you have observed in agents or you have personally been mistreated by an agent. If so, get another agent. There are plenty of agents out there who are trustworthy.

Are you ready to buy or sell a home? Or are you "kicking the tires?" If so, have you been honest about your intentions when talking to an agent? If you are a buyer or seller, ask your agent if exclusive representation is available to you. That means that when you sign a contract with this agent, the agent becomes your agent. If an agent doesn't know where you stand, or where he or she stands, how can he or she be expected to do the best job for you?

Trust works both ways.

Published: March 6, 2007

Use of this article without permission is a violation of federal copyright laws.