The Market!!! (Oh no.  Not another point of view!) 

Ok, so everyone you listen to is going to give you a great answer to "What is the Market like right now?" question.  As a matter of fact, most agents by now have some sort of twist or explaination to the market and how you are going to get XYZ done.  What I want to point out is something similar, but I also want to leave you with a few questions that you must really ask yourself when talking with your agent on this level.  Also, for you agents, you may find that approaching your clients with these questions in mind would be really good business for you.

First thing to know is that if you ask a million people how the market is, you will get 1 of 3 answers (Great, Bad, Flat), but at least a million different explainations exist for each one and it also really depends on where you are in the marketplace.  All that aside, you should consider this example as to why perceptions are what they may be:  Joe Realtor has been in the business for 5 years and has the experience that when you list a home, its usually being bid on before the sign goes up!  so for the last year, his world is upside down and he is not making any money because his listings are not selling like before and the phone calls have quit coming in...he is going to say the market is BAD!  And he is right!  Its bad for Joe Realtor, but is it bad for the other guy in his office that is closing escrow and getting listings?.  So look over the following thoughts and view points.  While doing this, remember that this sort of classifying is never really fair, but look at the attitudes of who you are hiring to sell or help you buy one of the most important investments EVER:

FIRST Perspective:  This is an agent that has enjoyed the boom over the last several years, but never learned how to SELL Real estate because all one had to do was just answer the phone and they had business.  This agent is NOT enjoying his/her job right now because business is not walking or calling in to him no matter how much money on advertising he is spending.  As a matter of fact, there is a mass exodus (almost Biblical huh?) of this group...yes, the free ride is over and they're all looking for jobs.  Do you want this agent?  Funny thing is, this client is getting business because they are "Buying Business" for the moment.  They will do whatever the client or seller wants...even things that are going to prevent the seller from selling his/her home!  "Sure Mr and Mrs Jones, I understand that you want to list your home at $600,000 even thought the comps show you should list at 515,000...so let me write that up and get my sign in your yard."  Think about it.

 Second Persepective:  This is the BRAND NEW Agent who has decided to get into real estate despite everyone elses opinion that there is no business out there and they are hearing and ignoring this negative mantra by all the others.  This agent is also very excited about getting the word out there that they are selling real estate now.  This is a big benefit in that you will most likely have your home sold rather quickly because this agent is talking to everyone and is excited!  The downside is, the experience (which right now may be more of a hinderance then anything else) that makes the difference in smooth transactions, as well as they may be a little slow in knowing what is going to be moving faster than other things...On the up side, they wont second guess and most of the time they are much more effective because they are excited.

 THIRD Perspective:  The experienced warrior who has been arround for 15+ years and have seen this market before...again...once more...this time.  They know what is going on and have been through this market before and know what to do to be successful...the question you have to ask yourself and maybe the agent is if they have the energy to do it.  You may find that they have a couple of New people that they are educating and mentorinig...in this case...win-win-win. 

Alternate View:  I want to place this thought with you before you make all the judgements I've placed here as a solid guide.  The real quality you want to find in a market where homes are not moving as fast as they used to, is an excited, happy, and active agent.  You may create a list of questions to see how creative they are...(see above the Frey to get an idea of creativity)...this way you can be sure that their perception is backed by ability to produce.

Here is a simple list of questions that you need to ask yourself when talking about the market to prospective agents representing you:

1. How soon do you need the home sold?
2. Can you handle and distinguish between an agent telling you something that is true about your market vs someone who is wanting to get a quick buck?
3. Can you handle hearing the truth about your home value (period).
4. Can you have enough say in your conversation with your agent to creat a constant and regular form of communication with them on your home...you will want to communicate with them on a regular basis to see if they are doing new things or are showing your home.  If they are not showing your home, ask why and be prepared for the answer.
5. Know when you are having your listing being "Bought".  You dont really want a "Yes" person, you want someone who will get the job done and communicate with you even when you dont want to hear the communication.
6. Can you refrain from being emotional when selling your home.
7. Do you know the factors involved in selling your home and what the factors are with someone buying your home.  I cant tell you how often it is that something that needs communicated makes a difference.  Example:  Our office had a listing that was zoned Commercial Local so the banks would only lend on the basis that it was commercial...therefore the rate was higher and the payments higher.  The client knew it, the seller didnt.  The seller was getting very frustrated about not getting the loan on their home as fast as they would normally and decided to pull when the loan took over 10 days to get moving.  Life would've be simpler if it had been pointed out earlier that the loan would take a bit longer and was more expensive to the buyer due to the Zoning of this home.

Here is a list of great questions that I have been asked by home owners selling in this Market climate: 

1. Can we only list with for 90 days to see if you are going to be the type of agent to get things done for us?
2. At what price for us to sell can you say and guarantee that our home will sell in under 60 days?
3. What do you think?  Is is best for me to sell now or wait for a couple of years?
4. How can I profit from selling now?
5. My husband is scared that we are losing so much because we are having to sell to move out of state for his new job, can you talk to him about how we are benefiting?

So.  In conclusion, you really want to know the true benefits of making the selling or buying decision you need to make, but you also need to be sure that you are not being BS'd.  Remember...Numbers dont lie, emotions are very expensive, walk in thier shoes before you make your conclusions, and most importantly-make a solid response instead of a quick reaction because its NEVER personal.