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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Home News Latest Stories Absenteeism in Oregon schools prompts bill that would tie funding to attendance, not enrollment Medford police arrest gang member and his brother after short chase Territorial Seed contribution a boost for SOU food program DEA seeks to seize houses in multistate pot trafficking operation Man sentenced for shooting cat with arrow Crime, Courts and Emergency Services Medford police arrest gang member and his brother after short chase DEA seeks to seize houses in multistate pot trafficking operation Man sentenced for shooting cat with arrow Emergency services, Feb. 25 Two dogs perish in east Medford house fire Politics and Elections Ballots on Jackson County marijuana tax go out Friday Brown's inauguration brings hope to local lawmakers Kate Brown sworn in as Oregon's 38th governor Gov. Kitzhaber steps down, federal investigation begins Gov. Kitzhaber announces resignation Education Absenteeism in Oregon schools prompts bill that would tie funding to attendance, not enrollment Territorial Seed contribution a boost for SOU food program 200-plus Jackson County students miss vaccination deadline Medford, Ashland districts fall short of anti-bullying standards Grace to assume school governance Environment Lost Creek Lake logjam could become hazard for boaters Made in the Shade Controlled burn planned for Ashland watershed on Friday Coho salmon road trip Mt. Ashland Ski Area celebrates snow State News Judge: Oracle must host Oregon's Medicaid system Oregon Coast fish could be from Japanese tsunami Number of Oregon wolves increases Oregon seeks court order to maintain Oracle's Medicaid-hosting contract Oregon legislature mulls improvements to state ethics, public records law Nation - World Obituaries Elaine C. 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Letters to the Editor, Feb. 25 Our View: Adjusting for unintended consequences Kathleen Parker: Twitter as America's conscience Editorials Our View: Adjusting for unintended consequences Our View: Homeless food proposal is the best solution yet Our View: Smell of trouble may spark marijuana limits Voter bill secures a fundamental right Our view: Will Brown reach out to rural Oregon? Letters to the Editor Letters to the Editor, Feb. 25 Letters to the Editor, Feb. 24 Feb. 23: Letters to the editor Feb. 22: Letters to the editor Feb. 20: Letters to the editor Columns Michelle Teheux: Will we keep heading down the wrong path? 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Dr. Jeff Hersh: Breathe easy - all about lung function Health Watch: Health improvements you can make today that will pay off for a lifetime Runners’ Corner: Helpful winter running hints Hiking Biking Faith Religion briefs: Friday, Feb. 20 Religion News: Pope makes surprise shantytown visit Religion briefs: Friday, Feb. 13 RELIGION BRIEFS, Feb. 6 Religion News: Church of England consecrates first female bishop Milestones and Achievements Anniversary: Hofer New arrivals: Sunday, Feb. 8 Columnist for a Day Rogue Healthy Aging Tempo Latest stories An all-new Rising Stars music competition kicks off this weekend Ronny Cox plays the Unitarian Fellowship SOU presents 'She Stoops to Conquer' Live Music in Local Clubs OSF kicks off its 2015 season Theater SOU presents 'She Stoops to Conquer' 'The Glass Menagerie' is polished and professional OSF kicks off its 2015 season SOU presents 'The Glass Menagerie' Le Cirque presents 'City Walk' Music An all-new Rising Stars music competition kicks off this weekend Ronny Cox plays the Unitarian Fellowship Professor Gall plays Oberon's Tavern Live Music in Local Clubs The music that made Paris famous Community Events Third Fridays showcases local artists Southern Oregon Rod and Custom Show Ashland's First Friday Art Walk showcases new exhibits by regional artists Jacksonville celebrates Chinese New Year Comedian Susan Westenhoefer pulls no punches Dining Restaurant Inspections: Sunday, Feb. 22, 2015 Saigon Xich Lo Vietnamese cuisine The zwickels shall flow Soo Rah Korean Cuisine Stylish shareables are the feature at Brickroom Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obits Blogs TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Magazines/Special Sections Business Services NEWS NOW Judge: Oracle must host Oregon's Medicaid system ... Medford police arrest gang member and his brother after short chase ... DEA seeks to seize houses in multistate pot trafficking operation ... Judge: Oracle must host Oregon's Medicaid system ... Medford police arrest gang member and his brother after short chase ... DEA seeks to seize houses in multistate pot trafficking operation ... Dear Monty: Home seller questions agent ethics Comment By Richard Montgomery More Content Now MailTribune.com By Richard Montgomery More Content Now Posted Feb. 25, 2015 at 12:01 AM By Richard Montgomery More Content Now Posted Feb. 25, 2015 at 12:01 AM » Social News Reader question: An agent of a real estate firm gave us an estimated price they can get for our home, and we signed on with them on that basis. Now another agent of the same firm brought a prospect through and told them our house is priced too high. Is this ethical? Myron G. Monty’s answer: The answer to your question is elusive because your question does not reveal a number of important details. Also, every state has their rules and statutes that vary significantly, so location contributes to complexity and misinformation. Finally, there are several components of real estate that impact on your question: valuation, agency law and ethics. ​It is not clear how you came to learn the other agent told the buyer the house was overpriced. Did you hear the other agent say this to the buyer? Did your listing agent tell you? Did the other agent tell you, or did the prospect tell you? The information source can be a key ethics consideration. For example, if the prospect shared this information with you, the information should be considered suspect. The prospect has self-interest in sharing this kind of information. There is a book about real estate named “Buyers Are Liars, and Sellers Are Too!” Unless you heard the agent make the statement to the buyer, or the other agent told you directly your home was overpriced, it may stretch the truth. Consider home evaluation Valuing homes is not an exact science. Unless your home is a tract home in a tract subdivision where comparables are everywhere, even experts will disagree on the value. Learn more about determining a home’s value at dearmonty.com. A real estate agent in my home state telling a prospect a home is overpriced is both illegal and unethical. The exception is an agent with a written buyer agency contract. With a buyer agency agreement in place, the agent could share their opinion of value. Without that agreement, they could share comparable sales information that pointed to a lower value, but not state their opinion. Evaluating a home is not an exact science but an art. Today’s real estate aggregators are notorious for inaccuracy. Real estate agents and appraisers, who have physically inspected the home can have price opinion differences of twenty percent on a home. The fewer the comparable sales and the further a home is “outside the box” is the time when opinions of value will most likely be dissimilar. Consider agency law Agency law is confusing for consumers and agents. Even if the agent did not know better, ignorance is no excuse in the eyes of the law. From a practical point of view, until real estate agents and consumers are required to wear body cameras, it is impossible to monitor everything they say to each other. If it is true, the other agent said the house is overpriced, what makes it a bit unusual is that it got back to you. Most real estate agents would not do it as a matter of practice, but to start a negotiation, some agents will suggest a lower price. Consider Realtor ethics ​ Realtor ethics can be difficult to interpret. The NAR Code of Ethics — http://bit.ly/1wnWixZ — demonstrates the complexity of the document. One of real estate’s most difficult tasks is compiling the circumstances, chronology of events and the participants statements for an ethics hearing. Laws and rules are constantly evolving, business practices and models change and the rules are modified based on these changes. In the situation you described in your question, the other agent could be unethical or squeaky clean. Turn a lemon into lemonade Consider using this encounter to your advantage. Does your listing agent know this happened? An article titled “Challenging a real estate appraisal” on DearMonty.com demonstrates how to make calculations for determining these adjustments. Ask your agent if they can demonstrate to you, using adjustments between comparable sales, their opinion of value. Ask the other agent to show you the comparable sales they used to determine the house is overpriced. If either agent balks call the designated broker and ask for their help. If you have the time or inclination to do this, you may learn more about the indicated value of your home. Even though, the second agent may have used poor judgment with whom they chose to share their opinion about the value, what if they are right? Richard Montgomery gives no-nonsense real estate advice to readers’ most pressing questions. He is a real estate industry veteran who has championed industry reform for over a quarter century. Send him questions at DearMonty.com. By Richard Montgomery More Content Now MailTribune.com By Richard Montgomery More Content Now Posted Feb. 25, 2015 at 12:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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