I’ve always been a fan of Glenn Kelman of Redfin. Sure he ticked off a ton of Realtors…and maybe that’s why I liked him initially.
However, once you speak with him, you really get a glimpse inside of the man who some believe is making a lot of real estate agents have fits.
Kelman is not one to bite his tongue when asked questions. I applaud him.
From taking a big chance to launch an online real estate brokerage, to dealing with the hysteria afterwards to actually realizing a profit in the face of adversity…he’s a Realtor I’d like to hang out with.
Diana Olick, from CNBC recently interviewed Kelman and this sweet gem was a product of that conversation about the state of the real estate market. I love it. It’s pure Kelman!
“The real estate market is like a fat man that can’t get up. The U.S. government has modified loans, extended tax credits, lowered interest rates; we’ve fired a lot of our guns, and at this point the market is just going to have a long slow period of decline.”
Amen brother!
Too bad the National Association of Realtor’s own version of Charlie McCarthy, Lawrence Yun, could not say something like this. True statements like Kelman’s are not heard from the Bastion of Bullshit known as the NAR.
Instead we get quips like this…”We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings,” he said in a release.
“However, approximately 180,000 homebuyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales.”
Lawrence Yun, NAR’s chief economist, said he expects one more month of elevated home sales behind low mortgage rates and stabilizing home prices.
What else is he going to say? Hey Realtors hang it up and go look for a job? Of course not, he is the real estate version of Baghdad Bob.
Delays in the short sale process? Hmmm…how about championing short sales and mandating that Realtors actually learn how to get them done. How about mandating that if you don’t successfully complete a short sale in the next 6 months that you can’t solicit homeowners? how about making agent publicly disclose their short sale closing rate prior to locking a homeowner in on a horribly one-sided listing agreement?
I could go on and on but I’m sure those of you who are actually making money in real estate know what I’m talking about. Unfortunately, the hacks out there know it too and hide behind the crap that the NAR releases.
Thankfully there’s a guy like Glenn Kelman out there who says what most of us in the business already know to be reality.
The Takeaway;
Investors, hone your skill, market like heck directly to homeowners and make your money that’s there for the taking if you skillfully present your short sale deals to the banks.
Realtors, you can make a lot of money out there if you just take the time to actually learn what it is you need to know to succeed. Anything less is just clawing to survive in a real estate market that holds no future for those whole long for the good ole days!
Real Estate Radio USA Episode 105 On today’s show we talked about the blog post at Redfin that caused an uproar in the RE blogosphere. We were even joined by Redfin CEO Glenn Kelman so he could clear the air about the controversy. We were also joined by Dave “The Shef” Sheffield who talked to us …
Real Estate Radio USA Episode 146 On today’s show we talked about how some agents are dealing with the stress of this down real estate market and also two hot interviews out of Seattle. The first was with Glenn Kelman, CEO of Redfin and the second was David Gibbons from Zillow.com. All of this and more …
40% Or More Of Homes Sold Are Foreclosures Or Distressed Properties! While actual home sales may have had a modest gain this past month, the gain was bittersweet as it is attributed to the declining prices in many markets across the USA. At least a 40% or more of the homes sold nationally last month involved …
Don’t You Just Sometimes Want To Hide The Fact That You’re An NAR Member? 1 million plus members, many of whom do a good enough job on their own being fodder for the media, do you really need to be paying dues to an organization which continues to be the horse’s ass of trade unions? C’mon, we know that there are more than …
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