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Can the Media Help the Real Estate Market?

By Jan Simony

Real Estate Agent with Mountain Realty 291481

August 11, 2007 11:01 AM

I am just putting that question out there for all to ponder on a while. The media is constantly filling our senses with all of the negatives of what is going on in the market. Foreclosures, short sales, sub-prime loans have become familiar terms to most of us in the business. A year ago how many times did you talk about a short sale??? Anyway, what would happen if the media just started going the other way?

What if when we turned on the TV we heard " There has never been a better time to buy" or "If you can buy now do it". How many people would jump on the bandwagon and start shopping for Real Estate again if in every newspaper they picked up they found those headlines? Human nature is that we don't want to miss out on a good deal. What if everywhere the media started sending out headlines about all of the fantastic great deals that people were getting on property that were buying NOW??? I think basically we follow the leaders. Too much negative imput from the "experts". What if all of your friends were buying second homes and getting outrageous deals?? Nobody wants to miss an opportunity like that!

The media sends a powerful message, what would happen if it were possitive? Would people start buying now before they miss out? Sheep we are, follow the leader ?? It is the same reason that when the mega millions lotto reaches an amazing amount of money, people who never play the lottery run out and buy a ticket, they don't want to miss out, everyone else is buying one so why not? Has anyone else thought about this too?

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Rob Saxe

ReMax Gold - Roseville, CA

Realtor/Blog Sales Consultant, Specializing in Sacramento Real Estate

The media survives because they play into the minds of the people they are trying to attract. It's easier for most to think negatively than positively. Not to mention, the truth is, the market sucks right now. It isn't a bad time to buy, in our area it would be probably better to wait another year for resale, but prices are coming down dramatically.

The real estate market right now doesn't have the promise of the lottery! lol The odds are better in POWERBALL!

Aug 11, 2007 11:07 AM

Dan Forbes

Bradenton, FL

Our local paper tolled the "Bubble" stories until our market finally tanked beginning the fall of 2005. We are now down about 20+% in median sale price and sales numbers stink.

Now, that agents and real estate companies have cut back on newspaper advertising, the paper has decided to run with "Now, is the time to buy" campaigns. They are visiting our offices and calling us to accept discounts for advertising.

There is only one thing that counts for newspapers....what brings in revenue. Whether it is pitching bad news, which sells papers, or wooing agents with "buy now" campaigns, it's all about the dollar.

I understand that business is business, but will the media ever accept any responsibility for their part in the real estate slump. No, they will deny it to the grave.

Aug 11, 2007 11:09 AM

Dan Forbes

Bradenton, FL

Our local paper tolled the "Bubble" stories until our market finally tanked beginning the fall of 2005. We are now down about 20+% in median sale price and sales numbers stink.

I understand that business is business, but will the media ever accept any responsibility for their part in the real estate slump. No, they will deny it to the grave.

Aug 11, 2007 11:09 AM

Dan Forbes

Bradenton, FL

Our local paper tolled the "Bubble" stories until our market finally tanked beginning the fall of 2005. We are now down about 20+% in median sale price and sales numbers stink.

I understand that business is business, but will the media ever accept any responsibility for their part in the real estate slump. No, they will deny it to the grave.

Aug 11, 2007 11:09 AM

Eric Bouler

Gardner Realtors, Licensed in La. - New Orleans, LA

Listening to your Needs

Real Estate still tends to be local and the media does very shallow stories on a national level. maybe this will put newspaper ads in the grave as a bygone way of selling property. It surely does not work. The media has self interest at heat first and foremost. The housing market will take a while to wash out, the increase in all kinds of taxes will keep it from happening faster.

Aug 11, 2007 11:17 AM

Brad Snyder

Sierra Vista Realty - Sierra Vista, AZ

The media is definitely on the doom and gloom band wagon and I do believe people buy into it. Our market has slowed down a little, but it is nowhere near as bad as the media would have you believe. I think there are a few bad markets out there and the media is lumping us all together.

If they all of a sudden said things were better, I bet sales would pick up. The power of the media!!!

Aug 11, 2007 11:19 AM

Jan Simony

Mountain Realty - Hiawassee, GA

It would be interesting to see what would happen say in the next 60 days or so if they were to totally blitz us with the opposite of what we have been offered. I mean MSN and CNN and everywhere we tuned in we saw the headlines! I really feel their control over what we hear, see, read etc. makes a HUGE impact on how we think and therefore act. I think their part in the slump is major but could "they" turn it around?

Aug 11, 2007 11:25 AM

Diana Perez

Majestic Properties - Miami, FL

Jan, I am with you 110% on this. I am working to the bone with one seller and two buyers because of the media. They [byers, sellers] tell me that they are waiting for the value of the homes to drop even further. My seller tells me she wants to sell not lower than a certain price and the condos in her complex are going for $20K less than what she is asking and willing to settle for. Unless there is no urgency in her to sell I have no choice but to let her go, she is a good friend of mine, so I am giving her some space. Maybe we should all stick together and start writing articles in the newspaper and ease peoples minds a bit. As I always say, real estate is happening.

Aug 11, 2007 11:37 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Jan, Remember, the media reports which we see generally reflect the current state of the market. By the time the market changes and that chage gets covered by the media it is typically 90+ days behind times. You will see definite signs of a change in the market long before it gets reported on the major networks.

Aug 11, 2007 11:46 AM

New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor

RE/MAX Properties Unlimited, Real Estate - Morristown, NJ

It would be a great help. I wish they would do it, but the news media is a inherantly negative group, and as such they look for the storm clouds in every sky.

Aug 11, 2007 12:04 PM

Jan Simony

Mountain Realty - Hiawassee, GA

Yes, they are pretty much a doom and gloom bunch aren't they! And Bill I agree that they are hung up on the current state, I have just been wondering if they alone don't have the power just by telling us it is so, to create a shift , not because it is really happening, just because they are telling us all to buy now.

If all of our TV news anchors were telling us that the low prices on homes have created a buying frenzy I swear people would believe it. If this was the headline story for a few weeks instead of the sad mortgage and foreclosure news , some people that may have been waiting it out may think "well I better buy now before prices go back up". Maybe some web stories about the fantastic real estate deals that are out there right now instead of hearing about another long year of how slow real estate is etc. We all do tend to believe what we read in the papers, see on Tv or the web. Just something I have been thinking about.

Aug 11, 2007 02:48 PM