DROdio Real Estate

Most Realtors think that a bedroom must have three things to be officially called a bedroom:

1. A door
2. A window
3. A closet

Because that's what's taught to us from the day we get our licenses. That is not always the case, however. For example, in Fairfax County, a room is constituted of any space that:

1. Has "emergency egress"
2. Has a smoke detector
3. Is at least 70 sq. ft. in size

Here are the guidelines from Fairfax County.

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Yes, absolutely.Here is an example of a listing that states that the buyer's agent (NOT the buyer himself) will get a $5,000 bonus if they bring a "full price offer" (click images to enlarge):(Note - the image above references the "selling agent" which can be very confusing because you probably think that means the "seller's agent" but in real estate parlance, the "listing agent" represents the seller, and the "selling agent" represents the buyer - this agent is also referred to as the "buyer's agent".)We feel this is extremely unethical because it gives the buyer's agent an incentive to act contrary to their client's best interests. The agent is getting an incentive to bring a higher priced offer to the table, when what they should be doing is working to lower the price of the property for their buyer clients.This is especially problematic because often this bonus is posted only in the agent's remarks section, NOT the general remarks section (as in the examples above). The agent-only remarks are called "general/agent" remarks, and the publicly viewable remarks are called the "internet/public" remarks. So the buyer has no idea that the agent is getting this additional compensation if it's only published in the "agent/general remarks" section. We call this an "undisclosed bonus" because you'll never know about it unless the Realtor tells you about it. We don't accept undisclosed bonuses. Sometimes, the bonus will be published in both sections - then it's not quite so bad, because you can see it, but it's still not great, since you might not think to look in the remarks section.The problem is widespread: As of August, 2007, there were 381 active listings in Maryland, 52 listings currently active in Virginia (including 13 active listings in Fairfax county and 8 in the city of Alexandria) and 29 such listings in the District of Columbia that had these types of bonuses in the remarks sections.Our firm, DROdio Real Estate, Inc., does not take any undisclosed bonuses, but rather, we pass them on to our clients. You can read about other ways we're different from other firms by reading our buyer's bill of rights.You can also run this little test yourself: Sometimes (but not always, as you can see by the pictures above), the bonuses will be listed in the "internet/public" remarks that you as a buyer can see. Our site, www.TheBestHomeSearchEver.com, allows you to search those remarks. Try searching for the phrase "full price offer" and see what listings you come up with! To learn how to search the listing remarks, read this.

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We have a "pick 2" rule that, just like the laws of physics, we've found to be true in all cases when you buy a home. Here's how it works: When you buy a house, you have to choose between three aspects of buying the house:

1. The price
2. The location
3. The condition

And you can only pick two of the three! You can never have all three.

For example, if you want a great price, and a great location, then the condition of the property isn't going to be very good.

Or, if you want a home in great condition, and in a prime location, you're not going to get a good price.

Or, if you want a home in nice condition at a great price, it's not going to be in a prime location.

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