It appears there is still an enormous disconnect between buyers and sellers in the real estate market. Many homeowners are chasing the market downward instead of being aggressive and selling their home ahead of the downward spiral. At the other end of the spectrum we have the unrealistic buyer who feels it is his turn to get back at these homeowners because he missed the bottom several years ago. What is causing this disconnect? Is it the media? Is it real estate professionals who don't educate their clients and tell them what they want to hear? Is it real estate seminar groups like Robert Allen who insist you can buy a home for 70% of market value in ANY market?
To make matters worse a number of deals are falling apart this year because of real estate agents. People, WAKE UP! This is an opportunistic market so why are we fighting one another. Let's work together to make the best of it. I fight hard to get my homeowners the most for their homes and to get the best deal for my buyers so I understand being a tough negotiator. What I don't understand is letting ego and pride get in the way. We are supposed to be professionals. Many of us make more each year than attorneys and doctors who have to go through a hell of a lot of school before they can even practice their profession. Based on what I've seen over the last year it is no wonder why the real estate agent is place in the same category as that of a used car salesman. I actually had one agent say to me and my buyer, "What can we do to get you in this house today?" Are you kidding me?!? Guess what??? She didn't buy the house. Imagine that.
What is it going to take to narrow the gap between buyers and sellers in today's real estate market? What can we do as real estate professionals to facilitate this process?
;)
Links;)
Tags (Tag Cloud);)
Archives
Daniel-
That is a good question and one that each one of us needs to examine and think about as it relates to our thinking and behavior. Let me offer several thoughts on the topic:
1. We need to educate both buyers and sellers as to the real market and not what is written everyday in the newspaper. Hard facts of price changes, days on market, list vs sales price, real comps and real borrowing rates with full buyer and seller net sheets would make a good start. Work on and guide those expectations.
2. Some of us need to take ourselves out of the transaction-- it is not about us-- we can still negotiate but we should not win the battle and lose the house.
3. Lastly, it makes sense to demonstrate good judgent and give good counsel that is in the best interests of our clients and what they really want and can afford. The less we focus on the commission the better for all concerned.