20/20 piece on TO USE OR NOT USE A REALTOR

By
Real Estate Agent with LakeView Realty Enterprises, Inc DRE 01235311

Okay, so who watched 20/20 last night? 20/20 June 22 2007    I did, only because I was playing ABC's new National Bingo Game--trying to win $50,000. During a commercial they alerted ME that 20/20 was next...and it was about how sellers could SALE without a REALTOR.  Great, was my first thought!  Another 60 Minutes type Realtor Bashing. 

But, it wasn't quite as bad. John Stossel did point out the other  side of the coin as well. It was, however, more slanted against US. 

 Crying 1 




What say you all?

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Rainer
96,751
New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor
RE/MAX Properties Unlimited, Real Estate - Morristown, NJ
I will have to look at ABC news to see if I can find it online.  But the trend in the media is to bash Realtors right now.  It is really to bad that they get on these little fads and even more so that there is not someone to bash these people like 60 minutes and 20/20.  There are not hard core news or anything, they are entertain new.
Jun 23, 2007 01:57 AM #1
Rainer
10,568
Louis Cheek
Louis Cheek Jr - Lafayette, LA

I watched most of it Kathy, but all I saw was a little "House staging" presentation.  Did I miss something

Jun 23, 2007 02:00 AM #2
Rainmaker
217,380
No Longer Active
Real Estate - Fallon, MT
The media is constantly waffling on stories... During the next Real Estate Boom they'll be preaching how great it is to have an agent so you can scoop up the best home before someone else makes an offer.
Jun 23, 2007 02:05 AM #3
Rainer
47,378
Jeff Fulgham
T.U.P. Realty - Tupelo, MS
Broker E-Pro ABR
Hey we are big business and the liberal weeny's in the media love to bash big business. It is just our turn in line.
Jun 23, 2007 02:07 AM #4
Rainmaker
430,921
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

Kathy,

 I started to watch it.  Then, I noticed the date on the left side of the screen, which was the date it first aired.  2005!  Of course, that was two years ago, and that was a very different market. I was hoping it would have been a current piece of information.  They were promoting the authors of a book, which I will not name.  Certainly, they must be the know all of real estate.  Kidding!

Everyone knows or seems to think they know, our profession better than we do.  Bad news sells, good news is a secret.  We need to be more vocal with our good news about real estate and keep the public informed on current data.

 

Jun 23, 2007 02:13 AM #5
Rainer
9,695
Ruth Ann Mertens-Oklahoma City Real Estate
Paradigm AdvantEdge Realty - Oklahoma City, OK

I agree, Kathy, that it was more against us than for us.  Particularly troublesome was the flat statement by one of the featured guests that in the future, people would certainly not pay 6% commissions, but only $500 to sell their homes.  There was not any discussion of what services the $500 would buy. They did not explain this as being some type of limited-service agreement, so it seemed to imply to me that what full-service realtors generally do for clients is only really worth about $500. 

 There was a long segment featuring a FSBO, who stated that she sold her house without any problem and "if (she) could do it, anyone can!"  In fact, she ended up selling the house for much more than the realtor had told her she could.  It would have been nice for them to also show someone who tried selling their home themselves, but found it to be a daunting process, which it certainly can be for many.  They did show a couple who had used a realtor and were pleased with her services, however.

 

Jun 23, 2007 02:15 AM #6
Rainmaker
206,264
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate
I wouldn't say that we are big business.  I think people love to have the fantasy that they are going to save money by eliminating the "middle man".  Witness the proliferation of shopping clubs and other businesses designed to get you "factory direct" pricing.  What they don't understand is that selling your home isn't like buying a peice of furniture.
Jun 23, 2007 02:16 AM #7
Rainer
59,999
Ken Nimmo
National Real Estate of Prescott - Prescott, AZ

Well Kat I take it you didn't win the $50K.

 I am surprised that 20/20 doesn't preach that people should represent themselves in court. Really who needs expensive lawyers when you can do it yourself.

Hey I can dig a hole in the ground and put in a pool too.

 You have to know what is going to happen. Some FSBO is going to sell their home and really mess it up because they didn't know they were suppose to disclose or mis-represented something because of ignorance. Maybe they split there land up and sold a piece of it not knowing the laws or paperwork that needs to be done.

A FSBO might just sell their home without an escrow to only find out later there were problems. Yep 20/20 is right who needs Realtors.

Jun 23, 2007 02:21 AM #8
Ambassador
761,672
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (

JAMES: Agreed, Realtor bashing is a given lately.

LOUIS: Worth checking out, if for no other reason but to be ready for your sellers questions as to why they can do a better job than you when selling their home.

DAN: DITTO

JEFF: Exactly!

FRANCES: It was an older piece, true, but worth listening too, again. Maybe these peices keep us on our toes, I don't know. Seems we have to be ready for SELLERS questions and challenging remarks constantly, after they've watched these shows and THINK they can do-it-themselves. 

Thanks, all, for replying.

Jun 23, 2007 02:22 AM #9
Rainmaker
508,620
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

There was another post making reference that this was filmed in 2005 and a rerun !!!

How does the NAR not participate in trying to update or comment when something like this is aired ????

 I am happy to see our forum  paying attention to what is happening to our profession-and talking about it..Now is the  time to take a stance and make some noise!

Here are the other posts- Kat, I hope it is ok to bring these in on your post if not-simply delete me and I apologize...

Tonight's 20/20 Was Nearly 2 Year Old Re-Run - 06/23/2007 01:38 AM
Tonight's 20/20 Was Nearly 2 Year Old Re-Run; Stossel. The high point is an interview with former NAR Chief Economist David Lereah. What
There were a couple of blogs 6/22 Ana Connell's 20/20Tonight!  and Maurice McLaughlin's 20/20 REAL ESTATE SEGMENT TONIGHT-CLEAR VISION? giving us a head's up that 20/20 would be airing a show on whether it was necessary to use a  REALTOR® when selling a home.  Sadly, it sounds like ABC's 20/20 is stooping to ...

20/20 piece on TO USE OR NOT USE A REALTOR - 06/23/2007 08:53 AM
20/20 piece on TO USE OR NOT USE A REALTOR; Stossel did point out the other  side of the coin as well. It was, however
Okay, so who watched 20/20 last night? 20/20 June 22 2007    I did, only because I was playing ABC's new National Bingo Game--trying to win $50,000. During a commercial they alerted ME that 20/20 was next...and it was about how sellers could SALE without a REALTOR.  Great, was my first thought!  Another 60 Minutes type ...

20/20 Airing FSBO Story Tonight June 22,2007 - 06/22/2007 08:18 PM
20/20 Airing FSBO Story Tonight June 22,2007; Stossel. The high point is an interview with former NAR Chief Economist David Lereah. What
 20/20 Airing FSBO Story TonightJune 22, 2007 - ABC?s 20/20 will air a "for-sale-by-owner" story tonight that's almost two-years old. Well, the story was wrong back then and is wrong again, and N.A.R. told them so twice.The 20/20 segment is called "Getting Real About Real Estate." It features a young woman ...

20/20 Special - 06/21/2007 06:55 PM
20/20 Special ; Stossel is doing a report on if your realtor is ripping you off!  Here
Here we go again.
Looks like we should be watch 20/20 this Friday at 10 P.M. EDT.  John Stossel is doing a report on if your realtor is ripping you off!  Here is a snippet from an e-mail I get from ABC News...
"Is your Realtor agent ripping you off? I interview economist ...

Jun 23, 2007 02:36 AM #10
Ambassador
761,672
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (
Michele: ABSOLUTELY OKAY! In fact, THANKS.  
Jun 23, 2007 02:50 AM #11
Ambassador
761,672
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (

KEN:  Nope... darn it! And I was soooooooo counting on it.  LOL

Jun 23, 2007 02:51 AM #12
Rainer
43,252
Christina Lackey
Coldwell Banker Prime Properties - North Syracuse, NY
Syracuse Central New York Real Estate
I agree with you.  This one was little better than 60 minutes, but still pretty negative.  I wonder if there has been any thought to what would happen if being a realtor became something that people were no longer willing to do... what would the economic implications be?  Market changes?  Price stability? 
Jun 23, 2007 03:05 AM #13
Rainmaker
671,582
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate

We were watching ABC for the NBN as well, and no, another Friday night spent playing bingo without winning.

We had the tv on when the show started, but decided that we didn't want to waste our time with it.  Everything seems to bash us anymore.  I didn't realize that it was 2 years old.  I wonder how many non real estate people picked up on that?

Jun 23, 2007 03:17 AM #14
Rainmaker
176,631
Lori Lincoln Team
Top Agent Serving Dighton Taunton, Rehoboth and more! - Taunton, MA
Top Agent Taunton,Dighton Rehoboth &more

Realtor board should do a commercial of a FSBO who tried and didn't succeed or a FSBO who got themselves in hot water and regret not hiring a realtor.

Jun 23, 2007 03:34 AM #15
Rainmaker
508,620
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor
Lori I agree- we need to take the bull by the horns and yes- local and state levels need to do more. Isnt that what we pay for ?
Jun 23, 2007 03:57 AM #16
Rainer
21,094
Patricia VanWert
Weichert, Realtors Southern Coast - Sunset Beach, NC
Did not watch it. With the market being down in most places, this is the time for Realtor bashing. When it's up they'll be praising us.
Jun 23, 2007 04:04 AM #17
Ambassador
761,672
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (

RUTH:  Good point about the $500.   In my opinion, you get what you pay for--usually. OR, don't pay for.

CHRISTINA: Exactly!

JIM and Maria: Thanks for commenting.  Sorry about your Bingo loss. 

LORI: YES they should! With all the negative reports out on TV lately, we need the board's support!

MICHELE: And we pay BIG !

PATRICIA: I'm not sure they'll ever give us any praise, but I would sure like to see it IF they do.

Jun 23, 2007 08:09 AM #18
Rainer
28,883
Dawn Coulter
Key Partners Realty, LLC - Bloomsburg, PA
Helping clients say "Hello" to a "Good-Buy"....

Why can't our local boards, the NAR, etc. stand up & fight back?  I know this "junk" is typical of the biz, but every time I turn around, there's something busting our butts for what we aren't worth.  I find in my own area with FSBO's that they are getting harder & harder to sell to.  They do end up using some of these agencies who ONLY list their house in our MLS for $500 & then the seller must pay the selling agent's commission.  The SELLER arranges the showings, the SELLER posts that pics, etc...They're still a darn FSBO!!!!!

OR

a FSBO will post a sign, & an agent in the area will bring the buyer.  Gee!  NO need for a REALTOR there, right?  It's getting to be that sellers need us (in some cases) less & less.

Dawn

Jun 23, 2007 01:29 PM #19
Ambassador
761,672
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (
DAWN: amen!   
Jun 23, 2007 01:32 PM #20
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