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Spreading false information in the real estate market equals panic

Reblogger
Real Estate Agent with The Kellstrom Ray Agency, Inc. (Est. 1948)

Utilizing a local agent with up-to-the-minute access to the Door County Multiple Listing Service is a VITAL necessity when buying or selling Door County real estate.  Work with a local expert.

Original content by Andrea Swiedler Licensed in Connecticut

panic button in real estateAs a real estate professional in Southern Litchfield County, it is my job to know what is going on in the markets that I work in. I have the ability, through my memberships in multiple listing services to pull up statistics, to understand where we have come from, where we are now, and try to best understand where it might be taking us. And then it is my job to translate that information to my clients to help them make the best decisions possible, based on up to date, factual information.

Spreading false information & rumors = panic.

I was out to dinner recently and asked the typical question that we hear most often. "How's the market"? I have that information at my fingertips, in my head, retrievable via my cell on the web if they want exact figures. I have been known to pull up a post or two I have written with market stats on my smart phone. Before I could answer the person said they had been told by another real estate professional the stats for foreclosures and pre foreclosures in two of my market area towns.

The numbers were staggering and false. One of the numbers represents MORE THAN 100% of the total homes in the town! The other number represented over 13% of the total home in the town. (Statewide we have 3.5% of homes in foreclosure according to The Commercial Record.)

But Andrea, how do you know that?

Because I have access to that information and I put it to good use. I read, I pull my own stats together, I live and breathe the market.

If you don't know the true statistics you can create panic!

The person who asked the question suddenly looked greatly relieved. They had been in a panic about the value their own home since hearing this false information, thinking their home was unsaleable because no one would buy in a market with such a high volume of foreclosures.

As real estate professionals we have an obligation to know the real numbers in our local markets. We have a responsibility to do our own research, to use the tools available to us that will give us the proper picture of what is going on.

We cannot be disseminating false information about our local real estate markets. People are depending on us to guide them based on real information, not fictitious information that can have a very negative bearing on their decisions! It is hard enough to combat the nationwide statistics, or things they read about other parts of the country that have no relevance to local real estate statistics!

You can create a War of the Worlds type situation with false information. I will have no one jumping out the window because I didn't bother to get the real information and just threw out numbers for shock value.



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Thank you for reading this Door County real estate blog!  MaryKay Shumway, ABR®, CRS®, Realtor® loves to laugh and her passion is working with people that love the Door Peninsula.  She is a full-time real estate Broker, a mother and a stepmother, loves dogs and serves as a senior Broker Associate at the Kellstrom-Ray Agency, Inc. in beautiful Sister Bay, Wisconsin.  MaryKay represents listings throughout the Door County peninsula and also represents many Buyers annually that want to purchase the perfect property to make Door County a part of their lives.  CONTACT MARYKAY ABOUT YOUR DOOR COUNTY PROPERTY QUESTIONS TODAY.

MaryKay Shumway has been an extremely consistent multi-million dollar MLS producer for over twenty years, as well as the top producing broker for The Kellstrom-Ray Agency, Inc. since she joined the firm in late 2015.  Representing both listing clients and buyer clients and cusomters full time, MaryKay is extremely active in the Door County community with nonprofit groups, the Door County Board of Realtors and in local governmental affairs.  A member of the Door County Board of Realtors Honors Society from 2005-2021 and now recipient of Excellence in Professionalism honors since 2022, she is a former Door County Realtor of the Year, a former member of The Real Estate Group's Chairman's Circle from 2010-2015, and a former member of the Coldwell Banker International Diamond Society for 2014 & 15.  She has served as President and President-Elect of the Door County Board of Realtors.  MaryKay is a top MLS producer and has held the position of top producer at The Kellstrom-Ray Agency, Inc. since 2016.

Contact MaryKay today.  "As a multi-million dollar producer and senior associate at The Kellstrom-Ray Agency selling Door County real estate, I focus my balance on both  featured listings in Door County and representing Buyer Clients looking for the perfect Door County Property.  I turn Door County vacations into Door County traditions by helping you own your own Door County real estate, and I represent exceptional properties in all price points on the Bay of Green Bay, Lake Michigan, and all inland lakes and properties in between. Local experience with GLOBAL connections.  Call, text or e-mail me today."

Comments (1)

Anonymous
Jeanine Metts

Great post! I see most of the panic coming from the media, not other agents. It was a treat for me to look at your listings down the side bar. I'm from Wisconsin and I am a Realtor in Florida. Northern Pinellas county to be exact. I love Door county. We had windsurfing regattas there in the 80's. Let's stay in touch, never know when someone you know wants to move to our area & vis versa.

Nov 14, 2012 10:08 PM
#1