After several years of encouragement by readers, I've decided to take their advice and write a short (100 page) self-published book based on my original rant at http://patrick.net/housing/crash1.html
Any suggestions for the title? I'm thinking of "The Housing Trap".
And what should the cost be? I'm thinking $14. Has to be somewhat high to make it worthwhile. Unless I can sell a zillion copies.
Speaking of selling, I'd be grateful for marketing advice. I've got Patrick.net, but how else to sell it?
It might make a very good gift that friends can give to friends who are about to be trapped in a bad mortgage.
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Agents have the means, motive, and opportunity to cheat both buyer and seller.
All I'm asking for is real transparency and an end to the inherent conflict of interest in being a buyer's agent.
But realtors make their living by preventing transparency and pretending that conflict of interest does not exist, or is not important.
Why aren't buyers encouraged by their agents to mail their offers directly to the seller? The seller could also show it to his agent for advice, but that's not how it works, because transparency takes away the power of agents to block deals unfavorable to themselves.
It is right and good to hate agents that are preventing transparency, and that play down the whopping conflict of interest inherent in our current system.
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Danville, CA
gregpfielding's website
Patrick says
Listing agents are required to show (or at least communicate) all offers to their sellers. Those who don't are subject to potentially losing their real estate license and potentially ending their career. I acknowledge some fraud exists, but because the risks are so great, it's not as rampant as you might think.
Patrick says
I agree. Agents who misrepresent their clients or details of a deal are a problem and should be punished.
As far as the conflict of interest, I would encourage you consider how trivial a little more commission is in the grand scheme of things. Pretend an agent who sells a $400,000 property has a $10,000 paycheck coming to them. If they conned clients into paying an extra $5,000, they would get an extra $125.00. Ethics aside, it's not worth potentially killing a deal for $125.00 and it's certainly not worth potentially upsetting your client if they ever suspected impropriety.
I think the greater conflict of interest isn't agents trying to get their clients to pay more money, but in agents trying to convince potential clients to take action in the first place. "Buy now or get priced out forever".
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gregpfielding says
The rules are irrelevant when enforcement is impossible.
Realtors set up the system to make enforcement impossible.
gregpfielding says
It's not the little more commission that's the problem in itself.
The problem is that the buyer's agent doesn't get paid if the buyer does not buy. That's why they encourage suicidal overbidding. The fact that the agent gets a bit more from the higher bid is just a bonus he gets for betraying his client.
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Danville, CA
gregpfielding's website
Patrick says
Not true in this case. If a listing agent mistreats another agent (or their client), they are absolutely at risk of disciplinary action by their local board, including a possible suspension of their license. Agents file claims against each other all the time. My only gripe is that the backlog around here puts any hearing at a year or more.
However, I do agree with you that the situation is often murky. When there are multiple offers, it is sometimes hard to know exactly what the Seller thinks of your specific offer. Often there is no counter.
Patrick says
I agree. Find an agent with a legitimate long-term appreciation of happy clients as opposed to one who desperately needs a paycheck right now.
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errc says
This is one of the really difficult parts of the situation and one in which the real estate/investment industry takes full advantage. What percentage of people can/will understand how exponential growth mathmatics applies to their life? How many can be shown that the time element is the most crucial to growing your money which means saving a lot early? That plopping down such a high percentage of your life earnings with agreement to pay back more is the opposite of that strategy and means someone else growing their wealth exponentially?
Unfortunately, a lot of people might be best off just being trapped into saving at least a little money by buying a house because they don't seem to understand the benefits of saving anything. Of course, by saving money in a house I mean they will probably be able to sell the house and get some money back at some point.
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gregpfielding says
I'm saying that there is no way for the seller or his agent to know about a buyer's offer if the buyer's agent or seller's agent decides to "lose" the offer.
Similarly, there is no way for the buyer or the buyer's agent to know about a seller's acceptance of an offer if the seller's agent or buyer's agent decides to "lose" that acceptance.
No one can know anything, really, except the agents.
It's a truly horrible system, except for agents. They can exploit both sides and no one can prove it.
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20 (Maybe 15) to 40 years ago, making payments on a stable or slightly appreciating asset with stable employment was not a terrible idea or way to go.
I think that's how so many people got duped in the middle of the past decade and into this one, they believed 'housing would never go down'. They didn't realize the game and rules had changed.
And, thanks to that 'Patrick Guy' on the internet, I didn't fare too bad, even though I certainly didn't have the game plan (Or level of fraud) understood a decade or so ago. (Always like to say that when applicable.)
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Patrick says
The increase in their rate is more but the increase in your conversion rate of sales you will get will pay the expense but also give a profit to make it worthwhile using...
Why an increase in conversion? Because of branded order forms & personalized synchronization to your site that makes buyers feel like you are not an amateur.
Along with acceptance of a multitude of currencies. So buyers can pay in their own currency. And you have so many options on pricing & payment techniques to increase conversion like...
The 30-day hold... Where you can tell buyers that they can try the book for 30 days without any charge on their card until 30 days. They have thirty days to try the book & if they are not satisfied... They just have to email you or contact you before 30 days to avoid any charge on their card.
This technique has doubled the normal refund rate but... Triple the normal sales conversion rate.
This is a marketing technique which as I am aware of is not possible with PayPal unless you go with their merchant account which has many fees, huge application process & will require a lot of technical know-how to set-up but also get all the features Fastspring offers.
You can also have payment plans for buyers with Fastspring. So buyers can pay off the amount month to month if they don't want to pay the full amount at once. This also increases sales. (It works for all industries including real estate & car sales as I am sure you are aware of.)
You get easy google analytics intregration... So you can track EXACTLY where sales are coming from in google adwords & all other mediums.
Tracking sales along with your marketing is crucial to success & only the businesses or merchants who do it tend to be 99.99% of the time the ones who successful than they unsuccessful 95% of merchants.
You can have the buyer be automatically sent the ebook digitial file with Fastspring & done securely with amazon servers.
So don't have to send every buyer an email of the digital copy manually. By the time, you ares towards your 1000 buyer, you would have wished that had an automated system to handle it for you...
You can do that with PayPal but NOT without good technical know-how & you will be responsible to maintain it... With Fastspring, it is done automatically for you in just minutes. It is like having hired technical staff for you.
Selling a physical book? You can have automated fulfillment services intregratef by Fastspring. You do NOT have to keep loads of books in your basement & have it converted into a warehouse. After your 1000th buyer, you will be tired of running around everyday to the post office, UPS or FedEx store to ship the physical books to the buyers along with manually packaging everything...
If you hire an employee, you will no only have to pay a fair wage but also health insurance & abide by intensive labor laws which includes over-time compensation. Unless you hire illegal workers or exploit child labor, which you do not want to do, due to severe penalties if caught by authorities.
Your ebook is also automatically stamped with buyers name & email for their copy to prevent piracy. Do you want to do that manually?
Affiliate networks. Easy intregration to all affiliate networks with Fastspring.
Paypal also accepted by Fastspring.
Customer service also handled by Fastspring with phone customer service as well. After your 1000th. service request you will be exhausted & pouring coffee down your throat to get some energy from all your fatigue just to respond.
More payment methods than Paypal.
Accept customer payments through Visa®, Mastercard®, American Express®, Discover®, JCB®, PayPal™, bank transfer, check, money order, and purchase order. Payments are accepted in ten major currencies in addition to the US Dollar.
Price testing, split testing, cross sells, up sells, support for iPad, iPhone, Android & Mobile phones.
Coupon support.
And most importantly sales tax is automatically handled for all states and countries you will make sales from. Tax compliance - Doing it yourself will be a pain in the neck. All of it handled for you by Fastspring.
All these features paid by double rate fees yet you gained at least triple the sales than before plus you are doing a lot less work with maintaining technical stuff & doing the general hectic work.
PayPal is the worst payment processor for merchants to use as a primary one. I do suggest that merchants offer it to buyers but not as they only option & defiantly not as their primary processor.
All the successful businesses do NOT use PayPal as their primary proccesor. It is just an option they add for buyers convenience, nothing more.
PayPal is horrible for businesses to use. It is inefficient, inflexible, too much work to set-up, horrible support & a pain if you ever have a problem.
Even for small business because it's lack of features & flexibility limits the business to growth...
And if it by chance grows by luck from using such a horrible payment processor... The inefficiency quickly becomes very transparent & the merchant also realizes they are probably even losing sales by using Paypal as a primary payment proccesor.
Fastspring also doesn't lock you in. If you also want to sell in B&N & Amazon Kindle store... You are free to do so.
Try Paypal first. Test your sales & how much work you have to put in for 60 days.
Then try Fastspring. Test your sales & how much work you put in.
I'm willing to bet Fastspring will win in getting you the most sales & minimal work. Probably 90% less work than if you used Paypal & you have to do a bunch of busy work with technical & general routine stuff that becomes very annoying after a while.
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PS. I agree that expensive doesn't always mean you are getting what you paid for, as you have seen with the housing market. But in this case, I really feel that PayPal is not a good solution & will actually cost you without you knowing it until you switch with Fastspring. Test out both & see which one gives you the most sales along with the least headache plus the most flexibility.
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Patrick says
Poobah Pat,
Great list of crimes that Realtor®s initiate any time they've got a property to list - but you also forgot the massive laundry list of scams they animate when they're tag teamed with mortgage brokers.
A Realtor working alone pitting every side against their own interests is the twisted reality of a thoroughly criminalized market space. Realtors colluding with other Realtors to fuck the marks at the table is all you can expect of a marketspace ruled by diabolical criminal scum. But the satanic majesty of a Realtor® aligned with a mortgage broker proffers the grim promise of a criminal opera composed, scored and staged by bug-eyed, cackling psychopaths.
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Yes they can exploit both sides and no one can prove it.
So you take an exam and get your own license and DIY your own home sale. Wont work on buying.
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War says
Thanks, but I am not worthy of our Poobah.
I did like the bit about the criminal opera, though.
AF
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You're worthy, but I think it should be a separate book with a different tone. That's the one that should be titled "Realtors Suck!"
BTW, I ordered the first proof copy today! It should arrive in a couple of days, then I'll check it over, make corrections, and I should be ready to sell it by the end of this month!
It's only 110 pages, but they are sharply pointed and useful pages, no fluff. I've come to the conclusion that $14 is an OK price as long as I also include shipping in that.
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I recommend having someone else look at it - a friend or wife or something. There might be something right in front of you that you don't see because you're so involved with it.
So cool - can't wait to read it.
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Patrick says
Poob,
Did you quote me?
AF
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Can you make a documentary instead? I would watch it.
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Sure, I'd love to. Any filmmakers out there want to help? My own ability with a camera is limited.
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Pleasanton, CA
Maybe you can try recruiting an up and coming film artist at an art school.
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Poobah Pat,
Do you need a cover blurb endorsement for your book?
Imagine the extra sales you'll generate with an endorsement by the legendary APOCALYPSE FUCK!
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APOCALYPSEFUCK is Shostakovich says
You'll just change to someone else again, you were once my little Tony...
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I was always a Shostikovitch at heart, Ellie!
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I would have dropped trou for you if you had been Tony Soprano, tho. My secret heartthrob - the way the treated all those nubile young (totally fucked up) women...
Manero is different. His little friend was probably too little... But I digress. Buy Patrick's book and you'll see if you're quoted.
While you're at it, buy mine. Momma needs a new pair of trou to drop...
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I hope there are a lotta pictures.

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Sorry no pictures yet, but maybe next edition if I can find some that I have the right to use.
I'm thinking of leaving the printed price at $14 on the book, but actually selling it for only $9 to people who order it from Patrick.net directly. Crazy, or good marketing?
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If I sign it, you can charge $50. The special ApocalypseFuck collector's edition.
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I'd like to preorder if possible.
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FortWayne says
Me too, Patrick. Any ideas on cover art? Gotta get a good About the Author photo.
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Thanks, it's flattering you want to pre-order. I don't have an order form on my site yet, but if you Paypal p@patrick.net $6 to cover the printing cost of a proof copy, I'll mail you a pre-book! Meaning that it's still not fully baked, but you'll get it before everyone else and can give me feedback to incorporate in the real edition.
If you do that, please also email me your mailing address so I know where to ship it.
A long-time reader is working on cover art, but I haven't heard from him in a while so I'm not sure how it's going. The proof copy just has a red cover. I like red. Attracts attention, and it's the color of my bubble logo. And it's like blood, and warnings, and stop signs.
I don't have an About the Author photo. It seems kind of vain. But maybe it also humanizes the book. Dunno.
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I don't have a Paypal. I bet my daughter does. I will ask. Otherwise, what about some old school $$$ in envelope?
You gotta have a frontispiece picture, Patrick. Preferably, something dramatic and brooding. You are in the Bay Area so maybe work in some windswept gloom..this guy has the right idea...
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gregpfielding says
It's impossible to know what the seller thinks of your offer or even if it was ever seen by the seller unless you contact the seller yourself.
When I put in an offer on a property last year, I tracked down the seller on FB and send him a message letting him know I had put in an offer. The reason is that I was getting flack from his agent about my offer being too low. He told me I shouldn't even bother with it. I forced the issue, sent my private message on FB, and I ended up getting a signed back counter offer. I don't trust middlemen. Nope.
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JodyChunder says
Cash is great, and perfectly legal to send through the mail:
Patrick Killelea
PO Box 832
Menlo Park, CA 94026
I got the first proof copy today! They don't seem to let me order additional proofs though. I don't see why not, but now I can't promise I'll send out the book until I get the real copies, maybe in 3 or 4 weeks. But first three orders are $6 each.
After that, I think the price will be $12 including shipping and tax, since $9 was a bit low to include shipping and tax, and $14 felt too high for a 110 page book.
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Patrick -- I am not a bargain shopper. Bargain shopping is what helped kill America. Jody is hi-dollar. I prefer to pay the $14.
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Patrick says
You need a picture of you laughing hysterically and holding a spinning chain saw over a Realtor scumfuck, like a typical sleaze yard with a porn moustash and a yellow Century21 blazer.
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Money sent via Paypal. Will take the book digital or hard copy, just can't wait to read it.
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The cover of the book should be the aflac duck roaming around a monopoly board taking a big fat crap on Park Place with a big red hotel sucking up all the rent
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skinnyninja says
OK, you're first in line!
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The cover should feature a family trapped in a burning building, howling in mortal terror as a Realtor paints the word DOOMED in scarlet on the for sale sign in the front yard.
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APOCALYPSEFUCK is Shostakovich says
Nah. The for-sale sign should have a realtor next to it, spray painting "this place is on fire!"
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elliemae says
"Motivated seller! WON'T LAST!"
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elliemae says
"Death of a Sales Man"... what too soon.. has it been taken.. LOL!