Home : Blogs : Casey Joiner Destin Florida Real Estate : The Destin View

So.....How's Real Estate?

It never fails once you get around family and friends for the Holidays...."How's Real Estate?"

I have no problem with it and in fact find myself a little flattered that they seem interested in what I'm doing (of course the family is probably just being nice). But it's the way we answer the question that labels us and our industry. Of course we get this question often through the Holiday season, but it's pretty remarkable to hear how some answer this question.

There are rewards and consequences for every response. So the question is actually a huge opportunity to brand yourself it what is probably the worst real estate dive we will ever see.

I am currently answering the question by saying "Steady and great....no big rush on the horizon...but everyday is something new in this environment"

That's as honest as I can be. I have heard some say statements that are just overly fake predicting a huge jump soon and some that just depress everyone to the point they should ask themselve's why they are in the biz.

So I'm listing some of the common reponses i hear below...and would love to hear what your response is and if you feel like you are being genuine.

"It's rough out there"
"It's ok"
"All indications show the market will be on the increase next year"
"No buyers out there...news is scaring everyone"
"Good....not great"
"I'm busy....I don't know about everyone else...but I'm busy"

Seems like a simple thing to do...but the way you answer could give a huge impression on your business. Would love to hear your thoughts.

Casey is a leading resource for Destin Florida Real Estate and 30A Real Estate. Everything from Gulf Front Luxury to Short Sales and Bank owned Properties in the Destin Florida area. 850.502.6044 www.caseyjoiner.com

Click Here To Search For Your Destin Property

Posted by Casey Joiner Destin Florida Real Estate on 11/26/2009 08:48 PM

Comments (80)

So....how's Real Estate? in the ActiveRain Channel

real estate market

Generate short URL

Post is included in group: Addicted to Active Rain
Post is included in group: Almost Anything Goes
Post is included in group: Diary of a Realtor
Post is included in group: The Art Of Marketing You
Post is included in group: The "young" Real Estate Professional

80 Comments on So.....How's Real Estate?

NOV

2009

I think it is a great response. Gives you an opportunity to see what their thoughts or perception is of the market.

Casey -

Thanks for the post. I really liked the last one on your bullet list.

Unbelievable! That's the word that sums it up whether the market is great or terrible.

(A) "Like it's a dog-eat-dog world, and I'm wearing Milkbone underwear..."

(B) "Are you kidding? Right now is a GREAT time to buy!"

(D) "I have seen happy clients on both sides of the aisle this year. Buyers are getting some good deals, and sellers with really nice individual properties are standing out from the crowd and selling well."

Usually, "D".

NOV

2009

Casey, This is my best year ever. Mainly because of (D). It is taking me months to put things together, falling out of contract and then negotiating until we get everybody together, Like most of us, I have never worked so hard in my life, but there are opportunities. I don't promise the moon, nor do I say that things are GREAT. Just have patience and I will put something together for you. There are a lot of retirees on the fence with money...so in the Naples market, they are getting more for their money now. And some feel better pulling their money out of the stock market and sinking it into a well priced retirement home.

I hear that question often as well and I agree that agents don't answer it as well as they could. It is a great opportunity to make an impression. People who ask may sell down the road, if they remember you and your answer and attitude it is a good thing. I answer it is local and different in different areas of the country and different communities but don't believe everything you read.

Casey, Thanks for some new insight. I struggle with the same question often.

I also feel I have the answer to these questions down to the T. Not because I'm practising it to sound perfect, but like you, I've just been asked this question for the past 2 years.

My answer is:

This has been a bad housing economy for many people. However, in these times where many people are foreclosing and short saling on their homes, there also lies lots of buying opportunities. This year, with the tax credit and now being extended into June next year, I've never served as many first time home buyers as I did this year. It's just been a very good year for me. In fact, it's my best year yet in real estate.

At the same time, I've been also busy helping homeowners prevent foreclosures by trying to sell their house on a short sale process. And these homes are bought and sold everyday...

I specifically inject some information to create an educational opportunities for those who ask. Many don't know what a short sale is. I've received several leads just by sharing the statements above because I educated my friends about how I could help their friends.

You are right that people want to associate with successful people. That's why the tone we answer this in has to be right. It is true that in my market, houses are not where they should be, but it has created so much buying opportunities. It all depends on how you look at the situation.

Great post!

I can get you a 10% cash on cash return by investing in real estate... easily.

I always try to inject some sort of optimism and positive attitude into my answers

I hear the question all the time. And honestly.. I have answered with one of those responses (I won't say which one)

Time to rethink what I say I guess. Thanks for the advice

I get the same questions this time of year. I think any honest answer that refrains from doom & gloom or pollyanna-like predictions is appreciated.

So how is real estate? My reply is geared to whom I am getting the question from. I threw out responses such as astonishing, exceptional --- and wait to see what reaction I get.

I always stay positive because there is always light at the end of the tunnel :)

I wish people would ask me questions that general - the one I get most often (especially if I'm at someones home) is "How much is my house worth"?

My honest answer to the general question is your last bullet point.

Casey,

It might seem like a cop-out, but answer is usually "It depends, there's a pretty strong demand in some areas while others not so much. Where do you live?" If I already know where they live I might comment on their neighborhood if I'm familiar with their market, or just say I'm not really familiar with that market but I can do some research if they're considering making a move. I try to avoid the blanket statements "Oh it's a great time to buy" or "It's a great time to sell". My town may be a little different since we are a military town and the military base keeps the market fairly consistent.

Casey, honestly?

I answer that way.

The market is not good for the sellers right now. However, the homes that are priced right are selling. (multiple offers on foreclosures)

The buyers love it, they are getting homes below what people paid several years ago.

We are seeing a lot of short sales and foreclosures, so it depends on what side of the elephant you are looking at.

Casey - I usually try to answer honestly. It's been a year full of extremes. Homes are still selling, there's always a need for someone to buy a home. Some Realtors are crashing, while others are thriving. I'm proud to still call myself a Realtor.

I usually put a positive spin on it somehow, so that the person walking away realizes I'm a real estate LIFER !!!

Hi Casey,

I say the market is not in favor of the seller at this time but if the home is priced right and staged well it will sell. The buyers are in a position to take advantage of wonderful buying opportunities: the interest rates and prices of homes are low, in some areas the inventory is high and for a bonus they could be eligible for a tax credit! Now those in their homes for the past 5 years who would like to make a move either up or down are able to derive an added benefit.

It's been a year of hard work and a year of change. If your not making changes in your business plan and adding new ways to market your homes and yourself you won't be in business. There are many a business who have not anticpated the changes and made corrections and are now closed. Real Este agents and companies are no different.

You sure can't lie about it so coming up with an honest answer that doesn't get folks overly hopeful or completely turned off is hard, but my strandard answer that IS true - - "We are seeing some positive signs for both buyers and sellers. Prices are stablizing (sellers more secure) yet are not rising crazy fast (buyers are still thinking they can get good price) and we definitely have more activity in the office (huge smile!).

Casey, I usually say that I am staying busy. I'll explain how times are different and what I am doing to work effectively in these times. I've taken a Distressed Property class, my advertising is ramped up & I still have sellers and buyers. I also talk about how a seller may not be getting what they want from a sale but they are reaping more on the buying side. Plus I am fortunate in our local market that Houston real estate stays fairly steady. No huge gains but no huge losses either.

it is always a good time to buy or sell for someone and it just might be the person asking the question. Your answer is extremely important and I think the word "depends" on your situation.

To quote the band Dire Straights "Money for Nothing and Chicks for Free"! Just kidding obviously! I simply say "Real Estate right now is Exciting...we are very busy"! Which is a true and honest statement. Sometimes the excitment isn't what we want it to be...but it's still excitement if you know what I mean.

Great thoughts!

Regardless of your market, the correct answer is "incredible!" That doesn't say if it's iincredibly good or incredibly bad. But always follow it up,with" I always have time to help you or one of your friends"

Business is great. There are lots of deals to be had, buyers are plentyful, I'm doing extremely well and it's great to be of service.

Timely post - We suggest that our agents be honest with their answers. The answer is: "It's a great market if you are buying, not so good if you are selling." This comforts those that are sensitive to your "perceived economic situation" and allows a discussion about the market. You can then discuss the benefits of buying in this market - incentives, tax credits, low interest rates, low prices. As a side note - do you think most agents understand that the buying side is where they need to be focused?

I think honeslty is the way to go. In Ottawa, Canada we've experienced a great past year in Real Estate. We also currently find ourselves in a very strong sellers market - I am honest when telling clients and family members that it's probably the toughest market I've been in, in the past 8 yrs. It's a great time to Sell and if you're buying you have to be ready to react quickly and be patient. I find the general public appreciates knowing what is really going on in today's real estate market - and a good Realtor should be able to adapt and be successful in any market.

I try to listen first. I find that many "prognosticors" locally, especially Realtors, are talking without doing theie homework. I believe that opinions supported by drilled down statistics is one way of saying, I study the market daily, and no one answer fits all.

I started this year with a more than positive attitude and, really, some good things just fell out of the sky. I'm ahead of last year's production by a good margin and have 3 closings in December! Rock on! Life is good. I hope my answer to this question always shows my positive attitude. It's catching you know.

I know what the media says, but I never believed them anyway. They are usually late with their assertions; by the time they pick up activity on their radar, it's usually too late for most people to benefit from it.

My 2009 proved to be an incredible year. Sometime in March or April, the level of activity rose dramatically and it hasn't relented since. Even before that happened I was pretty busy, but since that time I haven't been able to catch my breath.

The nature of my business has changed. The vast majority of my deals are either REO's or Short sales. I got really good at both and business keeps coming. It's not an easy gig; it's probably the most grueling Real Estate Market I've ever worked in over 20 years in this business. The "cash for keys" I have to perform for the banks is heart wrenching, the short sales still take too long to close and sellers are suffering. There's a lot of hand holding. I put on my social worker hat quite frequently... I cry by myself late at night, because it hurts my heart to see it happen.

I've even considered not taking seller business, but I can't do that: I'm too good at it and they need me. The ex-owners I have to evict get the most humane eviction ever. I negotiate a comfortable time for them to get out of their homes, I help them find storage, other housing, or whatever else they need. My short sale clients get a dedicated "dog with a bone" agent who navigates the perilous loss mitigation waters with persistence and ease. My marketing is better than most of the agents in my area and my listings sell.

Probably my most favorite part of the business right now is serving Buyer clients. When that question comes up: "How's the Real Estate Market right now", I tell them just how good it is. As a result of my enthusiasm, many of the service providers I go to, come to me for their Real estate needs. The manager at the local grocery store I shop at, she's my client. The take out restaurant I frequent - the owners are my clients. And on and on it goes... If you don't buy right now, you're losing out. Real Estate is cyclical.

I am now figuring out how to turn my seller clients' losses into money making propositions. I'm not there yet, so it's now a work in progress. If I am able to perfect what I (think) I'm doing, I'll write about it and share what I've learnt.

Great subject; thanks for posting it! I have to go now. I have to take pictures of my new REO listing and put a lockbox on it. In its heyday it was garnering around a million dollars. As a bank owned property it's now listed for $399K.

I like to have discussions about the market. I don't think one liners cover it.

I believe the prospective customers are not totally in the dark (of course everyone is coming from a different place, interest, want for knowledge) with all the information on the Internet. I think some times they are testing us to see if we are a knowledgeable professionals or just want a quick sale.

I think I got asked this question three times yesterday. My response, " a lot better than last year, and I think the tax credit had a lot to do with it!"

Everyone I know asks me that same quesitons and my answer is "it is better then last year".

Now is a great time to buy because of plenty of houses to choose from, lower interest rates, and the tax credit has been extended to move up buyers as well as first time home buyers. If you are thinking about buying a house, there may not be a better time in the market.

Listening to people in my office will sometimes make you want to rip up your license and jump out the windew. No matter what I say I keep it positive. Doom and gloom preachers are the ones I see falling behine.

Casey, I agree with Joel. I like the last point on the list.

Casey, Great question? I am having one of my best years ever, but the market is certainly tough. That is my answer to that question. My biggest concern, is that even though it is a good year for me, I don't want to give them the impression it's easy to sell a house at a good price. It's certainly not. One other big factor I talk about is the fact that home prices and interest rates are low and that combination will pay off for 2009 buyers for years to come, as we all expect interest rates to rise. All the best, Michelle

I like the last one, "I'm busy, I don't know about...". I'd stay away from answering like Lawrence Yun's though.

There will always be opportunity for good realtors and I am finding it is doing our business a service with getting rid of "marginal" agents. I have certainly kept my self busy over the last two years and I see things improving from a business perspective....I have had many happy sellers and buyers this past year or so and for that, I am thankful.

Casey, the answer reflects where exactly YOU are with the business. Ten agents, probably ten different answers.

I tell people that things are picking up but that prices have dropped since the peak in 2006. I also add that those prices were a falsely inflated because of the market at that time. I find that honesty is always the best policy, but an explanation is also helpful.

Casey - I'm having the best year ever! I'm learning new ways I can help people and I am really making a difference beyond selling homes. I love what I do and I love my life!

Casey, it is a matter of attitude and perspective. There are always good and bad markets in anything. This spells opportunity. The unfortunate part is that many get trapped at the high and lows, but those who find a way to get buyer and seller together will help many and do well for themselves.

Excellent post. I usually answer with, "You need to come to my office so I can show you the current closed and active sales to give you an accurate picture. It seems to change a little bit every day!" I have actually pulled in some clients this way!

Depending on who is asking, I might answer "It's a fantastic time to invest in rentals", if a seller I am honest with them. In my area its slow, especially due to the mega-neighborhood developments that started about 2005-06 and have eaten up a lot of the market. I tell sellers homes most assuredly are selling, and there has been an up-swing, but you have to be priced right and be prepared to go that extra mile to attract buyers.

Casey: Oh, and by the way, how's the condo market in Destin. My parents have an 1800 sq 4-BR, 3-BA located right at the bridge going over the lake at the Whale's Tail that has been off-and-on the market for several years. Still no real takers.

The truth is that I have been very busy this year. At the same time, I know there have been many agents who struggled or dropped out of real estate altogether. Certainly, almost every transaction has been more complicated this year because of HVCC, HERA, more stringent mortgage underwriting, etc. The common denominator that I see is: agents who treat our business as a business (invest in marketing, ongoing education, constant client contact, and prospecting every day) are doing fine. Those who thought just having a license and a website was all it took will continue to have a tough time, even when the market does achieve a strong recovery.

Hi Casey, this is a great topic! When I saw your post late last night, there were 4 comments and I planned to come back this morning to comment. Now your post is featured and you have 49 comments! Well deserved!

I think it's important to be honest and optimistic at the same time. People buy people, and they want to work with successful people. I say that I'm busy, my office is busy, and there is a lot of activity in the market (all true). Then I explain and engage them in conversation.

I explain that prices are not going up yet, but they are beginning to stabilize. Buyers have a lot of choices, low prices, low interest rates, and a tax credit for many. Why would anyone wait to buy? I explain to sellers that if they want to sell in the next year, the time is now because the buyers are out trying to take advantage of the tax credit, and many of the sellers can benefit too if they are purchasing another home. It will take work, strategy, and coordination to market their home, find their next home, and have both under contract by April 30 with closing dates before June 30. I like to create excitement and a sense of urgency.

As for the price that sellers hope to get, I explain that they will probably have to wait about 10 years to see 2005 prices again. Whatever they would purchase at that time will have gone up too. People are still getting married, divorced, having babies, getting transferred, retiring, you name it. People usually buy and sell in the same market, good or bad. It's not only about short sales and foreclosures, the market is also busy because of sellers who have decided to move ahead with their lives now.

Here's to a busy market in 2010!

The answer to the question is dependent upon the person who made the inquiry and their motivations. While my level of honesty does not change, the amount of emphasis will match the recipientants ability to receive it. A guy named Jesus (must be of Spainish descent) said, "Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and then turn and tear you to pieces."

Hi Casey -- I always answer it depends on the individual, as isn't all real estate local to needing one buyer if you are a seller or one home if you are a buyer? For sellers in distress or leveraged to the gills, I tell potential buyers there is a lot of stress in the market and some homes have inflated prices still, even in this high inventory market, because sellers can't sell for what the market is currently offering.

I try to be very measured, realistic and pragmatic in my answers, and no sugar coat, hype, or sound like a cheesy salesman.

I'm busier than I've ever been in my life and have exceeded sales projections for this year beyond my wildest imagination. But does that mean the market is improving or that I'm working smarter or harder? That's what I tell people because it's the truth. I engage them in a conversation about the market, and that's when I can point to statistics and let them know what's really going on.

Hi Casey,

I like to use the term "it's unbelieable" as well, because in my market things are always different than the national trend & I often encounter people from all over the country.

Right now I follow with: we are actually in a seller's market with less than 5 months of inventory... the lowest level since 2001. That spurs interest in the people asking & leads to a fuller discussion. Of course my tag line changes with the status of the market!

It's a great market for buyers. Affordability has never been better. Sellers may be taking a hit, but they are making up for it on the buy side. Housing is a necessity, not a luxury. There will always be a demand for homes.

My first response is "Thank you for asking!"

I say: I love what I do, There is opportunity in EVERY market, and I advise people to do what THEY want to do rather than trying to " figure out" the " market"

My answer is simoly that it is not the best for sellers, but excellent for buyers and constantly strengthening

The market's great as long as sellers price their homes correctly and realize that housing is a commodity ... and just like the stock market, prices go up and down.

My response would be to ask what do they really want to know. How busy I am as a Realtor, or is it a good time to buy/sell. The question is just too general.

Thanks for the post. Great comments as well from the group. Things are great!

Casey - My response would be "It's doing well here and I know I'm busy, which is a good thing" Real Estate is extremely local and will continue to be I believe. just my 2 cents....

Full time real estate professionals who know how to work within any type of invironment will always do well... it really does not matter wheather it is a seller's or buyer's market... and market trends, as we all know, are really a completely local affair... while markets everywhere have come dowm from their highs conditions differ from region to region, city to city, and even from neighborhood to neighborhood... so I am rather busy working with sellers and buyers... however transactions take now longer, require more work, more know how, more alternative solutions, and have become generally more difficult due to very thight lending practices, uneven appraisals, and unrealistic buyers and sellers expectations... so... if you want to stay succesfull you have to educate yourself, as well as your clients, as to what is possible and what is unrealistic in your neck of the woods...

I love your response. Ours is more like the last one on the list: "I'm busy....I don't know about everyone else...but I'm busy." We don't say that we are busy running around, for instance, knocking down dirt dobber nests to make the buyer happy, or trying to help a first time buyer find out why one room doesn't have electricity after they moved in.......

It helps, also, if you have two closings last week and can say 'why, we had TWO closings this week!'

Sarah in Nashville

My real estate?

Fantastic. . 2010 was a great year for me.

We tripled our business. . and January is looking like it will keep on rolling for us.. .

Thanks all...it's nice to travel and then see this kind of response. Great feedback and great language to pick up from you all.

Steve: The market is good...but still really not a pleasant environment for those who don't HAVE to sell. Would be glad to give them a comp on their property if they wanted to check the waters.

Thanks again everyone!

Thought provoking questions. I wrote a blog about this in my blogging infancy. I answer a lot like you seem to, but I bet if I strolled my office posing this question that I would get atleast one of each of the other responses you posted.

EVERYBODY ASKS!!! And yesterday was no exception. I said the market was slow and steady. That's how it's been for me. I always try to be genuine, especially with my relatives.

I have always been honest to a fault about whatever it is the people ask me. Sometimes that hurts me instead of helps me, but what can you do?

I always answer that business is FABULOUS. Because, really it is. I learn something new every single day...even if it is something that I don't want to learn. I have an opportunity to really help more people than ever before. All the short sales and foreclosures allow me the opportunity to really hone and perfect my negotiation, communication and listening skills. As someone already stated above, I am a LIFER!

It's like a pendulum, back and forth, up and down, buyers and sellers market, etc.etc.etc.

Patricia/Seacoast NH

"Unbelievable" that is my standard response. No matter what the market is it can still be unbelievable.

Depends on who's asking. Tend to be very forthright with immediate family about the general market...values...sales rate, etc. With clients and prospecitve clients (which means everyone else.....and some not-so-immediate family members) I say I'm as busy as ever and there are plenty of opportunities out there for buyers and sellers who go to market well-priced and presented.

I usually tell it like it is...but never with a negative spin so as to not sound like a whiner!

The question that used to amaze me more than 'how's the market' is - are you still in real estate? Huh? It's was kind of like asking, are you still a CPA, Doctor, Nurse, Teacher, Business Owner.....

Honesty is the best policy.

I'm busy, in large part assisting people who owe more on their home than it's worth. There are good deals out there for patient buyers who understand the current market. Sellers who are planning to move up can take advantage of lower prices.

NOV

2009

I have always loved this question from people. First of all, people not in the real estate industry, for some reason, find real estate fascinating. So, when I am asked how biz is, I simply tell them that business is great, I love what I do, and that real estate is still the best investment that I personally believe a person can make.

We are our own "propoganda" for lack of a better word. If you know your market stats, this is a much easier question to answer. I always focus on the positive and turn it into a request for business. Life is as good as you make it.

I ususally say, Amazing!

You can take amazing any way to want it.... then I tell them I'm busy (which is the truth--I am) and that every day is different.

The elevator speech...this will be interesting to watch all the comments you receive on this post!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?

Casey Joiner Destin Florida Real Estate

Destin, FL

More about me…

Destin Real Estate Company www.caseyjoiner.com

Address: 3305 W. County Hwy. 30A, Santa Rosa Beach, FL, 32459

Office Phone: (850) 231-6052

Cell Phone: (850) 502-6044

Email Me

rets

Listings

Links

Archives

Find FL real estate agents and Destin real estate on ActiveRain.

Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.