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  Haven't Seen This Lady At Any Open Houses Lately!!!

They call it "reality tv" when you see these big investors going around and buying property at 50% and selling it at the open house, for full price or more, just a few short weeks after purchase. That's NOT reality. But this is...

I just wrote another post about unrealistic buyer expectations this market. Not surprisingly, some of the responses I received reiterated my frustration with the media in being so instrumental in today's buyers unrealistic perspective of what kind of deal is out there for them in this market. (And, by the way, this post was inspired by one of my wonderful blogging friends Lisa Hill http://activerain.com/lisahillrealtor! )Thanks Lisa!!! As I answered her post to my blog, I realized something.

If we want a REAL REALITY TV show that would show what goes on in the real estate market, we should sell a show to one of those networks called "LOW BALLER" and then the public, all the first time home-buyers, friends and family of buyers and everyone and their mother could see how realistic the practice of low balling is.

Sure, you could get lucky one in a hundred or two hundred offers, but they should take someone "looking for a deal" and have the cameras follow the agent and the client around as they hunt for a deal and then track the progress of the "LOW BALLER" until they actually get one at about 50% of market value. It would test out all of the theories out there.

I think they should make some snooty pseudo-news anchor do all the leg work, too. They are always the ones smiling on the t.v. the first thing in the morning when we get up and telling all of America that they should expect to be able to offer tens of thousands below asking price and get it! They are also saying that buyers should get every concession known to man and that they should expect the best interest rate and the discounted commission and the ultimate power in inspection negotiation...etc...

C'MON MEDIA...put your money where your mouth is! 

 

 

12 Comments on NEW REALITY T.V. SHOW..."LOW BALLER!"

ROFLMAO.  Hilarious idea.  Hey, I'd watch this program.  I just had some "low ballers" who I dropped.   

11/23/2007 03:16 PM by Karen Webster...Grand Rapids, MI Realtor (5 Star Real Estate, Grand Rapids MI)


While I agree that some low ballers are unrealistic, sometimes it's just what a seller needs to become realistic. 

11/23/2007 03:18 PM by Alayna Berek (Keller Williams Realty)


We could do a double treatment.  We could also have Max Dollar about sellers that think their house is so special that they can price well above market and expect a path beaten to their door of buyers that can't wait to live amongst the plaid wallpaper (it was custom made) and green paint...

11/23/2007 03:19 PM by Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty)


the media beats on our profession all the time. the funny thing about the shows like 'flip this house' and the like are that they make it seem like this s new idea. flipping a house is no new trick. it has been done for years. it just seems that right now if the tv says it is a good idea then everyone does it. as long as the reality shows keep saying offer low and get every consession the public will follow suit.

11/23/2007 03:20 PM by Trevor Ainsworth- Burlington Vermont Real Estate (Century 21 Jack Associates)


Thanks Karen! Can't you just see it? The buyer is listening to positive affirmations as he drives around with a giant maniilla folder and a hi tech phone/pda.  The cd in their car is playing and they are repeating: "I ar am a millionaire. I help people in distress to relieve themselves of the burdeon of unwated property..."

11/23/2007 03:26 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


I think knowing each submarket within our large market will help us win this one.  We need to step up to the plate and counsel our buyers on what will and what will not fly.  Low balls will fly in some sectors of my market, and not so much in others.

If we can successfully educate our buyers and tell them what we need to tell them so they can make sound judgments in winning a bid, we will all win :) 

11/23/2007 03:28 PM by Renee Burrows - Las Vegas NV Real Estate (Nevada Realty Solutions)


Right, Lania.  Then a thunderbolt would come out of the sky and fry them down to their little Manolos.

11/23/2007 03:29 PM by Karen Webster...Grand Rapids, MI Realtor (5 Star Real Estate, Grand Rapids MI)


Alayna...50% brings a realistic perspective?

Lane...AWESOME IDEA! We could explain also that the Seller has gone to great pains to extract the dated 50's hardwood floor and try their hand at laying that new green and grey ceramic tile with the several colors of unmatched grout!

Trevor...Don't I know it. I'm the "flip lady" (see bio)

 

 

11/23/2007 03:30 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


Right Renee...that is if your buyer values your opinion more than the anchor on the Today Show or something!

Karen: :-) lol

 

11/23/2007 03:33 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


Lania,

What a great idea. However, watch some Hollywood folks make a lot of money while we wait for the market to pick up.

Hope you had a good Thanksgiving.

Regards,

Tom Braatz

11/23/2007 04:59 PM by Tom Braatz, South Eastern Wisconsin (Tom Braatz)


I can't watch those shows. As a lender I know if you buy a home at 50% and 6 weeks later sell it for double the price you paid someone somewhere is a weak link. We don't lend double the purchase price after only 6 weeks as a general rule (almost unbroken rule). And, we already know, these shows are a fraud (read H-o-l-l-y-w-o-o-d) as in the case of Sam Leccima from Atlanta (Google him if you want).

11/24/2007 12:03 AM by Ken Cook - Novation Mortgage - FHA/FNMA/FHLMC/Private


Tom...my Thanksgiving was great and hope yours was, too.

 

Ken...you got my hubby to check out "Sam" and I never did like him for some reason...now I know why, although I did think his assistant, Lamont was a nice guy. He probably didn't know exactly what was up there.

 

11/26/2007 02:18 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


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Real Estate Agent: Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)
Lania DeMers, Broker Rocky Mountain Realty Co.
Colorado Springs, CO
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Rocky Mountain Realty Co.

Office Phone: (719) 638-5858
Cell Phone: (719) 232-5941
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