Can you imagine a doctor not being able to write a prescription? Can you imagine a lawyer not knowing how to file a lawsuit? Can you imagine an accountant not being able to file a tax return? Of course not, it would be ludicrous to even think that. I mean..it’s what we expect of a professional isn’t it? So a seriously good real estate short sale proficiency level is the key to a rebounding housing market? Yep!
You see when a new tax code comes out the accountant studies it and becomes proficient at it because his business and livelihood depends upon it. When a new law goes into effect, it is prudent for an attorney to read up on the law and understand how it affects his clientele and in turn how it may affect his ability to earn additional billing hours as a result of the impact of the new law.
Now imagine this. Imagine that a new tax law, or new drug, or new law is enacted that impacts over 45% percent of the doctor’s , lawyers, or accountant’s business. Do you think these professionals would find it important to make sure they became extremely proficient at understanding how the changes in their industry affect their clients and accordingly, their business? Of course they would.
Well then how can anyone explain the gross negligence of so many real estate agents in regards to understanding with the same ardent proficiency what is involved in executing a short sale correctly?
When nearly half of every real estate transaction in the Country is a distressed sale, why are so many Realtors totally inept in understanding and executing short sales correctly? even further, why do brokers allow these agents to represent their companies. For that matter, why does the NAR allow these sub-par agents to wear the blue pin?
This is not professional activity. it is grossly negligent. When an issue impacts nearly half of the market in which you do business why is it that when you read various blogs and real estate agent based forums we read absolute drivel on every topic EXCEPT what is the matter at hand.
For instance, how is this quality post on Active Rain today, or this one on Agent Genius or even this one on the Bloodhound Blog going to help anyone anywhere become more proficient in their jobs as liquidators of distressed properties? Oh..selling foreclosures, REO’s and short sale something that most don’t want to be involved in? Ok, that’s a great business plan.
I’m sorry..but do these posts have ANYTHING to do with selling real estate? Has the focus of actually selling homes become secondary to the musings of those who are to old to continue chatting on AOL?
What the f#$% is Twitter going to do for you in the challenge of selling homes in today’s real estate market. What in the sam hill is playing around on Facebook going to do for you in helping that homeowner avoid the gavel of the auctioneer?
What the heck are real estate agents doing? Your market , our market, is infested with a plague of inventory that is slated to increase exponentially over the next 18 months and is responsible for nearly half of ALL sales being foreclosures or short sales and you are playing house on social media forums talking about baking friggin cookies as if life was going to magically return to normal…whatever normal is.
Here’s a hint. There is NOTHING..and I do mean NOTHING you are going to garner from whining and lamenting about the good old days that is going to help you survive as an agent in 2009 unless you become extremely proficient in the short sale niche of the business.
Maybe you did not get the memo. 45%+ and climbing of the transactions completed nationwide were distressed properties. Hey don’t get me wrong, I like to visit AR, AG and BHB myself from time to time and there are some very fine and stellar agents who both write and comment on those blogs but given their status in the biz, it might be prudent, to be really showing their readership that their best prospect for 2009 is to learn the distressed property market and get off of Twitter.
But alas, those aren’t my blogs and the editors of each can do as they wish. But it just seems odd that there is not a preponderance of people really interested in learning how to make it in this economy.
There will be no NORMALCY until this issue is dealt with with great proficiency. Listen to what the NAR’s version of Baghdad Bob, Lawrence Yun has to say about the market’s return to normalcy lest you think I am a ranting madman:
“Sales are rising only in areas with large numbers of distressed properties as bargain hunters take advantage of discounted home prices,†Yun said.
Hello McFly…are you listening…but wait, there’s more:
Wow. You’d have to be quite the idiot to see the writing on the wall and continue spending your time on Twitter and blogs talking about baking cookies and what you’re wearing.
Heck, how’s this for a tweet? “I can’t tweet, I’m out selling a house!”. Was that more than 140 characters? How about this one…“Don’t tweet me unless you have a buyer”. Or how about my favorite…“Who cares what you are doing right now”.
Unless you are independently wealthy, have a Rolodex of millionaires who are your exclusive clients, or just don’t give a hoot, you are wasting time and valuable opportunity not being a professional.
If that’s the case, why not just try this tweet and we’ll all know to quickly unfollow…“I am an agent but I really don’t care all that much about actually selling houses.”
For the rest of those who want to know how to take advantage of this market, learn how to successfully execute short sales and make 2009 a year where you seized the fantastic opportunities in the short sale market.
And yes, I did use Twitter to promote this article. So it’s not Twitter wherein the problem lies!
So, every agent needs to become proficient or an ‘Expert’ in short sales? Even in a market where hardly 1% of the homes on the market are foreclosures and even less in short sale?
The fact that agents pursue a niche or special market like that is great, but there are other viable niches out there.
Getting educated on any niche is great and above par. Is there a lot of not so real estate on social networking sites? Sure. But that doesn’t mean that every agent on social networking sites is lowsy. Just like every market in the Nation is overwhelmed with foreclosures and short sales.
However, I do respect your trying to raise the bar.
“Even in a market where hardly 1% of the homes on the market are foreclosures and even less in short sale?”
Stephanie..you may need to pinch yourself. I understand that you are from the Houston area. An area where the most recent data shows there to be almost 10,000 homes on the market that are REO’s and most assuredly a great number of mortgage defaults.
Now if my math is correct, that would mean that for there to be less than 1% of the homes on the market in foreclosure then you would need to have about 1 Million homes for sale in your area.
Care to actually look and research a bit before you respond?
If you choose to work a green market in your area, that is fine. But according to a lot of the relative data would it not make sense to actually sell what buyers are aggressively looking for?
However, as I wrote above, the choice is most definitely yours. Here’s hoping you have a stellar 2009!
Barry,
Is your short sales class available to consumers also? They need to be involved in the process as well.
Spoken from a former homeowner who sold her house by short sale 4 years ago, ya know, before the wave came into town.
P.S. Would you not agree, blogs can be one of the best places for agents to reach consumers about short sales?
Hi Rebecca,
Sure homeowners can enroll. We also work with a number of prominent attorneys who we refer homeowners to at NO CHARGE to help with legal aspects of the process as well. Our course speaks about building an overall team.
Would I agree that a blog can be a great spot for agents to connect with homeowners? Absolutely! We get a ton of business from our various blogs. Unfortynately only 1-3% of ALL realtors even blog regularly…that’s a whole other problem!