Are you looking for homes for sale, have questions about selling or want to know the real estate market conditions in Princeton Junction/West Windsor, Princeton, Hopewell and Montgomery? Be smart about where you are looking for answers. Let me share a story.
I was wondering the Internet and came across a question from a Princeton Junction seller on Trulia Voices. The question was whether to put his townhouse on the market now or wait till the spring 08. The answers were interesting: the out of state agent had an answer about affordability, the out of the immediate area agent said- wait till spring. The agent in the immediate area (agent x) said: list now and list with the best (guess who?).
I never answered the Trulia questions before. This one seemed right up my ally. I broke up the question in three parts. 1. Does he have to sell now? If the answer is yes, other points are moot. 2. The seasonal factor - now is the slowest time of the year even in the best of markets. It doesn’t mean people are not buying. I sold a property last year in 6weeks during Christmas holidays. 3. Market prediction factor -there are many opinions as to what the market will do in the spring 08, but no one has the crystal ball. I said in my answer, that whatever the market is, his property needs to be priced at the market price then.
I also provided a link to the AR post “Why is my house not selling?”
This generated a very lengthy response for the agent X. “Anyone who can’t predict market price 3 months out – doesn’t know what they are talking about”, “don’t hire an agent with glossy brochures”- were some of the highlights of her answer.
Hmm…I wonder if people who say they can predict what any markets will do have an in with the Chairman of the Federal Reserve? I know a very successful hedge fund manager – trust me he is not publishing his algorithm. And who said anything about brochures? Is the implication that the Sotheby’s brand amounts to glossy brochures? Or was she talking about something else?
This made me wonder of what consumers should make of the answers they receive on Trulia and similar sites. Many agents on the site say that they spend many hours of their busy day to “educate the consumer”. This is a noble goal and I am all for educating consumer. I am also for being genuine about ones motives, so forgive my skepticism on this one.
I provide free information in my blog so consumers can learn from me and thus about me, which is something they can’t get from any other source. I want the homebuyers and sellers in the Princeton area to decide that I am the right agent for them based on what I write. I am not a real estate charity and not in the public education business, as noble as these two causes are.
Trulia is a site where consumers and agents provide answers to questions. One consumer was suggesting to not hiring any agent who is charging more then 1.5% commission, another one - was strongly recommending only agents who rebate 20-30% of their commission. Ouch - this was adding insult to injury.
I felt almost sorry for the poor guy who asked the question. How is he going to sort out the answers? Some of the answers were plain illegal in New Jersey. He was asking important stuff about selling his home. I am the biggest fan of the competition and “let the best guy/girl win” idea. I guess having many opinions could be helpful, but not always.
If you are a looking for homes for sale or answers to your real estate questions, please consider carefully:
- the source and the stated and unstated motives,
- the amount of effort put in providing the information,
- the main message of the information, the transparency.
- the common sense test –does it sound genuine and make sense?
Will you come up with the right answer? I am expecting your call.
Please contact Faina Sechzer at 609-553-4175 with any questions and assistance in buying, selling real estate, and relocation assistance in Princeton, Montgomery Township, West Windsor, Hopewell, and Lawrenceville New Jersey. Referrals are accepted.
If you are moving out of this area, please inquire about the countrywide relocation program.
Copyright 2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.
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It's unfortunate that some people will look for information in all the wrong places. Agent X is just plain goofy...no one can predict the market, if we could we'd all be millionaires! Your answers were right on the money. It's funny that she should mention brochures, but since she did...what's wrong with glossy ones?