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Tonight's 20/20 Was Nearly 2 Year Old Re-Run

Real Estate Agent with Village Real Estate Services, Inc.

June 22, 2007 06:38 PM

There were a couple of blogs 6/22 Ana Connell's 20/20Tonight! and Maurice McLaughlin's 20/20 REAL ESTATE SEGMENT TONIGHT-CLEAR VISION? giving us a head's up that 20/20 would be airing a show on whether it was necessary to use a REALTOR® when selling a home. Sadly, it sounds like ABC's 20/20 is stooping to copycat journalism. My Board of REALTORS® sen out an email today explaining that the program that was going to air tonight was nearly two years old. Even if the facts were correct on the show, we are in a decidedly diffferent market now than in October of 2005.. I think it's great information and even includes some talking points that will be useful in talking with anyone who happens to bring up the topic. It's good to know the facts. Here's the info I received via email:

June 22, 2007 - ABC's 20/20 will air a "for-sale-by-owner" story tonight that's almost two-years old. Well, the story was wrong back then and is wrong again, and N.A.R. told them so twice.

The 20/20 segment is called "Getting Real About Real Estate." It features a young woman who happily sold her home by herself and lots of snide comments by John Stossel. The high point is an interview with former NAR Chief Economist David Lereah.

What may not be clear to viewers is that the show originally aired on October 7, 2005. In the real estate business, that was a long time ago. Nationally, median house prices weren't falling and inventories were increasing. We hope any potential home seller who sees the show tonight doesn't heed ABC's advice.

So why does 20/20 decide to dust off an ancient show from its vaults and run it again as it if is new and fresh? Well, ABC is practicing "copy cat" journalism and can't let CBS have all the fun. There's another clue, if you go to http://abcnews.go.com/2020. On the list of top stories most popular with viewers, the top four were real estate or neighborhood-related. Real estate attracts eyeballs. Realtor.com could have told them that.

20/20 Airing FSBO Story Tonight - Talking Points
Here are some talking points should you get calls from your clients:

This show was produced two years ago, in a dramatically different market. It?s not so easy to sell a home without a professional today and Realtors® have unrivaled experience in this kind of market.

Homeowners who sold their home with the help of a professional averaged 16% more on the sale of their home than those who went it alone. In contrast to the small study recently released about Madison, Wisconsin?these are findings of a national survey of more than 3,000 transactions.

The real estate industry has harnessed technology to the benefit of consumers, and will continue to do so. Real estate is both high tech and high touch.

There is no such thing as a "standard commission." Commissions are negotiable and prices vary. The fact is that commission rates have decreased 16% from 1991 to 2004 (source: RealTrends).

Good Progress This Week
While N.A.R. is fighting the battle with 20/20, let's not lose sight of the fact that we are getting good coverage on our latest second home study and other issues. Last week, on Good Morning America, an investor interviewed about today's changing real estate market commented that a lot of markets were doing very well and buyers can buy find real bargains. And just yesterday, on CBS' The Early Show, an investor advised homeowners to consult a local Realtor® if they are considering foreclosure or short sales.

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Marlene Bridges, REALTOR® 800 777-1775
South Orange County Real Estate Website
Orange County Seniors Lifestyles Blog
SRES - Seniors Real Estate Specialist®
CRS-Certified Residential Specialist®
President - Laguna Hills/Laguna Woods Chamber of Commerce
Marlene is a highly experienced South Orange County CA REALTOR® specializing in residential Real Estate and the sale of Homes and Condos in South Orange County, California and Saddleback Valley cities of: Laguna Woods, Laguna Hills, Laguna Niguel, Laguna Beach, Rancho Santa Margarita, Lake Forest, Dana Point, San Juan Capistrano, San Clemente, Aliso Viejo, Mission Viejo.
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Comments (18)
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Melissa Olson

HOPE Lending LLC - Bellevue, WA

HOPE Lending LLC

Marlene - Thanks for this post. I am just heading out to watch this on Tivo. Now I will be going into it with a different perspective. Good catch!

Jun 22, 2007 06:47 PM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Melissa - So glad you got to read this before watching. Glad to pass on the info.

Jun 22, 2007 06:50 PM

Ana Connell

G & C Properties - Burbank, CA

Burbank Real Estate Agent

Thank you for posting this! I did watch it and even though it was 2 years old, which I think is ridiculous, I came away with some good insights!

Jun 22, 2007 07:20 PM

Kaye Thomas

Real Estate West - Manhattan Beach, CA

e-PRO, Manhattan Beach CA

Marlene- You go girl.. tell it like it is.. I saw that one when it came out in 2005 and it was a lousy piece then.. can't say it's improved with age.. But what cracks me up about all these pompous reporters is that you can bet not one of them bought a property without an agent involved who portected their rights..

Jun 22, 2007 07:23 PM

Daniel Lowery

1st Choice Real Estate - Jefferson City, MO

e-PRO, Broker - Owner

I saw this tonight as well, at first I thought it was a new show but after watching the show I realized I saw the show before. Thanks again

Jun 22, 2007 08:32 PM

Linda Reynolds

Bradenton Real Estate - Linda Reynolds - Bradenton, FL

Bradenton Real Estate

Thanks for the heads up I didn't hear they were going to air this one again. Just what is it that is making them want to target us? How will we ever get over the perception that we "roll" in the money and portrayed as people who take advantage of sellers and buyers. It is very frustrating, I find this a rewarding career in being able to help people make life changing decisions. Buying a home is the largest purchase they will ever make, you would think they would want a professinal to help in such a large commitment.

Jun 23, 2007 01:07 AM

Bob Carney

Taylor-Made Deep Creek Vacations & Sales - Mc Henry, MD

Licensed MD/PA Real Estate Agent

Such is my life... a rerun. I am glad I didn't stop what I was doing to watch it.

Jun 23, 2007 01:12 AM

Lynda Eisenmann

Preferred Home Brokers - Brea, CA

Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Marlene,

Good post. Thankls for sharing the fact that it was a 2-year old segment. Like Kaye, I saw it two years ago myself, and didn't take the time to see it again. I think it's valuable that you pointed it out of others.

Fins up!

Jun 23, 2007 03:34 AM

Melissa Olson

HOPE Lending LLC - Bellevue, WA

HOPE Lending LLC

Marlene - Not realizing it was a rerun, I still enjoyed watching it. I can certainly understand how an Agent wouldn't appreciate the FSBO section. Seems they are just doing a general coverage of Lending, FSBO, bad neighbors, etc. I am actually finalizing a FSBO marketing plan hoping that my approach is non-threatening to a home owner. Could potentially earn me business by stressing the importance of a Pre-approved buyer. But more so, I hope it will be a good referral source for me to offer Agent's to earn more business. Just trying to find some good in everything I come across helps me build a stronger business.

Jun 23, 2007 05:44 AM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Ana - I was intrigued by your comment, "I came away with some good insights! " Sure hope you'll be doing a blog on your insights, I'd love to hear them.

Kaye - Amen, Sister! Loved your comment, " But what cracks me up about all these pompous reporters is that you can bet not one of them bought a property without an agent involved who portected their rights." You are right on target with this one! I can't imagine that any of the reporters would be foolish enough to try to go it alone in a home sale or purchase or sale any more than trying to perform open heart surgery on themselves. You can bet that they hire the best professional they can find!Daniel - Glad you realized it was a re-run. Hope the talking points in my post will be of value to you.

Linda - I can hear your passion in your comment. I think that's what it will take is a lot of honest and pasionate agents to band together to demonstrate out abilities and caring. It won't happen overnight, but I believe it will happen that we will be regarded as the professionals we have trained to become.

Bob - Glad you were able to make productive use of your time instead of watching this un-new news show.Hey Lynda - You're right. - Not worth the time.

Jun 23, 2007 05:54 AM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Hi Melissa - Good for you. I sincerely appreciate it when a professional does their homework. In working with the public, we need to watch what they watch and read what they read. Good luck with your FSBO campaign. These programs can be very effective and a great way to pass along business to agents you trust.

Jun 23, 2007 05:57 AM

David Hood

Chino Valley Real Estate - Chino, CA

Why would CBS air a program that is two years old, when the market has such a big impact on selling real estate? That fact that the FSBO came off like she was on an infomercial, the phone never stopped ringing and the offers just kept going higher.

I'm sure CBS could find plenty of FSBO nightmare stories as well, it's unfortunately they did not show the down side of a FSBO transaction.

Jun 23, 2007 06:23 AM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

David - I couldn't agree more. 20/20 was very biased in their reporting. First, the market is not the same as it was 2 years ago and as you mentioned they didn't show the downside. Even if they didn't consult the real estate community, they could have found more than a few people who had a very unhappy and expensive experience selling their homes themselves. Thanks for commenting David.

Jun 23, 2007 07:04 AM

Galel Fajardo

Costa Mesa, CA

Why doesn't 20/20 do a special on mortgage lenders and how unscrupulous loan officers have taken advantage of consumers with little to no regulation or oversight?

In my opinion, the bad seeds in my industry have done more to hurt consumers than any real estate agent could.

The media needs to WAKE UP and see what the real problems are.

Galel Fajardo, President

Coast Mortgage Group

Jun 23, 2007 09:37 AM

Toby Lorenc

Rocky Mountain Realtors® - Colorado Springs, CO

Make your next move your BEST move

yep, I watched it - even though it's an old rerun, I think what frustrated me the most is the generalization of real estate agents. Specifically, that we're only in it for the money and not worried about the clients best interest. I guess every profession has to get picked on at some point, but the story was very one-sided and poorly done in my opinion.

I blogged on it a bit: http://homecolorado.blogspot.com/

Jun 23, 2007 10:51 AM

Vicki Watzlawick

CORE Realty (The Watz Team) - Algonquin, IL

Illinois Foreclosure Expert, The Watz Team

So why does 20/20 decide to dust off an ancient show from its vaults and run it again as it if is new and fresh? Well, ABC is practicing "copy cat" journalism and can't let CBS have all the fun. There's another clue, if you go to http://abcnews.go.com/2020. On the list of top stories most popular with viewers, the top four were real estate or neighborhood-related. Real estate attracts eyeballs.

Jun 23, 2007 11:03 AM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Galel - From your lips to God's ears. The mortgage industry is completely unregulated. It's going to take honorable men like yourself to take a stand to make a difference. I'm looking forward to helping you form your mastermind group. Through that group you WILL make a differnce.

Toby - I'm glad you took the time to watch. It's so important that we know what our clients are watching so we are prepared with answers to such one-sided journalism.

Vicki - You're absolutely right - Real Estate is a hot topic. Just ask Google or Yahoo.

Jun 24, 2007 06:17 AM

Galel Fajardo

Costa Mesa, CA

Thank you for the very kind words, Marlene.

I look forward to speaking with you this week!

Galel

Jun 24, 2007 11:03 AM

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