Today’s question comes from Charlie in Los Angeles:
Dear Short Sale Professor, Why is it that so many Realtors just don’t get it? I mean it seems they are more part of the problem than part of the solution. What gives?
Dear La La Land Chuckie,
I wish I had the answer to your question. Unfortunately the Professor is at a loss for words. I too have seen this malaise evolve into a full blown pandemic problem in the real estate industry.
I am not sure, but there’s a veritable goldmine out there in today’s real estate market and it seems that most Realtors just don’t get it. Why is that?
Well, maybe because the leadership of the National Association Of Realtors just doesn’t get it either. Check out these gems from the NAR braintrust:
“The recent drop in prices has brought about a lot of multiple bidding, according to Lawrence Yun, NAR chief economist.”
DUH!!!! Does this guy even have a clue? I mean there are whole websites dedicated to exposing Lawrence Yun and the NAR for its incompetence in addressing the distressed property market. But wait…here’s another…
“A very large proportion of distressed home sales are taking place at discounted prices compared to more normal conditions a year ago,” said NAR President Charles McMillan. OMG!!! and cigarettes cause cancer. Thank you Captain Obvious!!
But ya might want to light a fire under the collective butts of your rank and file members. They don’t seem to have received the memo that buyers are going nuts over great deals and that the disposal of distressed properties IS THE REAL ESTATE MARKET.
Remember back when we went into Iraq and we were kicking Saddam’s butt and this guy kept coming out saying ” all is fine”, “we are in control”? That guy was Baghdad Bob.
Lawrence Yun is kind of the same guy for the NAR regime of despots. He’s obviously not that dumb, so you can only deduce that he is a propaganda mouthpiece for the real monkeys in the NAR.
Reading so many industry blogs you’d think that many Realtors are themselves taking on the persona of Baghdad Bob. This propaganda stuff that so many Realtors are spewing is holding them back financially.
In fact, it’s kind of weird. Makes you wonder if anyone has seen these guys in the same place. Hmmm..we better check on that…
Now, when the potential for agents to earn considerable commissions is greater than it has been in some time, where are the short sale proficient Realtors?
On blogs across the Country, people are denouncing the ability of Realtors. Here’s a recent comment from a prospective homebuyer in Las Vegas:
“I’ve been trying to work with several Realtors in my area. It’s obvious that NAR has brainwashed several of them. I negotiate shorts sales and purchase homes, but I’m finding that the average Realtor wants nothing to do with reality. They would rather put up a sign, price the home higher than it should be priced at, wait for some sucker to come along and make a purchase…all the while building up the hopes of the homeowner that their home will actually sell…problem is, without more aggressive negotiations with the bank, the home will sell, just on the court house steps…”
Ouch! That hurts. However what makes it sting even worse is that this buyer’s sentiment is being echoed by buyers over and over again. We hear it all of the time. We read about it all of the time. We even have been hearing it from the banks.
CNN Money reports that As many as 40% of all sales made during the three months that ended Sept. 30 were short sales properties or REO’s repossessed by banks. These are eager sellers
In a market where throngs of buyers are looking for deals and in a market wherein 40% or more of the homes in inventory are in some form of distress, why aren’t Realtors getting themselves in position to seize this unbelievable opportunity for profit.
If you are seeing what’s going on in the market and you don’t want to resolve yourself to another month of no sales and no commissions. Why not learn how to be a professional who can take advantage of the change in today’s real estate business.
The good old days are long gone! Fuhgettaboutit!
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