You Aren't Just The Neighborhood Expert, You Are The New Wall Street

I never try to speak in generalities about the market & advice would depend if you are a buyer or seller.  I think that people are just starting to realize the far reaching impact that the housing market has. No tools, no decorating, no painting, etc. All the trickle down markets from buying a new house have been terribly effected.

I will say that most people I talk with are actually the know it all types that haven't sold a house in 10 years or so, adios Mr. Time Waster. Others are just interested in my 'Foreclosure Adventures'. That's where the real interest is as if a foreclosure is something special?

Great post.  Having been a Securities Licensed Insurance Agent, Banker, Property Manager, and a business owner, I can tell you that the average public has an interesting standard.  You've accurately represented exactly what is on everyone's mind, how does my home relate to the economy.  Explaining to anyone and everyone that their home is also a place to live has become my mantra.  Best of luck to you!

I hate to give too much economic advise as we are on a finacial roller coaster, but I tell people property is a tangible asset and will be around for a long time.

Housing is like the weather. Everybody experiences it and housing will be the fsactor that gets out of this economic situation we are in. I think!

I still think the best answer to that question is with another question.  "WHY DO YOU WANT TO KNOW?"  Depending on their answer you may need to ask more questions before hitting upon the answer they are looking for.

This is very true, and Realtors who are not up on the latest housing and other economic news will have a hard time speaking credibly to their clients.

I like to blog about economic news and post articles to Facebook, I know not everyone reads the business news everyday. While I try to be balanced in what I post, I am strategic in getting stuff out there that is under reported by the media because it is not sexy enough. or too complicated for reporters to figure outr how it affects the average person.

And knowing your local housing stats is crucial!

Hi Scott - Great post. Knowing your local market is paramount. Sharing this info with people who ask even moreso. :)

This post caused a lot of great discussion. As I'm so involved in all things home and read lots here at ActiveRain, I've not considered how confused home owners must be by the real estate market.

At the same time, the discussion made me think ... and what we're really needing to do is get back to basics. When I bought my first house in California many years ago, I looked at it as both a home and financial investment. I knew I wasn't typical and certainly back then people really did think of their homes ... well, as just that, their homes.

Somewhere that changed and people started to look at their homes like piggy banks, where they could take money out to satisfy all their dreams. Then one day they realized the piggy bank was empty and they had made financial commitments that were no longer doable.

It's time to get back to basics. Our home, owned or rented, is our home first. The piggy bank is gone, it's shattered and laying on the floor. We need to learn how to save for that rainy day, and we need to save for retirement.

Great post! I believe it is true. People think Realtors know everything and will ask about anything.

Great post! I believe it is true. People think Realtors know everything and will ask about anything.

Great post! I believe it is true. People think Realtors know everything and will ask about anything.

Great post! I've had great conversations with clients, customers, and the general public about this economy and housing's part in it over the last year or so - keeps me on my toes and informed, and I love it!!

Absolutely! It is our responsibility to know about our market, and to be able to give a 30-second response to someonw's question about the "market." Whether the trend is positive or negative, the factual response will be appreciated for the questioner, and it will portray our industry in a bright light.

Isn't that strange? It seems to me jobs have to be improved before real estate can be improved. But maybe the media is diverting our attention away from jobs?

Scott, great post!  The general question of 'how's the market?' is really too general.  A client needs to understand that markets are different even within a small area.  I was just having a discussion with my neighbor, and I was trying to help her understand that the subdivision we live in has a very different market than another subdivision just five miles away.  We as real estate professionals really need to speak to the differences in the markets we serve.  While metro Atlanta may be considered one big market for some people, the Vinings Plantation subdivision is a very different market than the downtown College Park market.  So to intelligently discuss the market we need to be sure we identify on a local level in as specific an area possible to paint an accurate picture.

We wear many hats as REALTORS®, we are educators, listeners, negotiators, market analyzers and trusted advisors to our clients!

You are so right. It's funny, people know the media lies about so many things (how many times have Brad and Angelina been ready to break up???), why do they think the media is telling the truth about the housing market? We need to help NAR spread the word that now is a GREAT time to buy a home!