Are Realtors Making The Real Estate Crisis Worse?

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Real Estate Broker/Owner with Sweet Digs Real Estate

  
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By Renee Porsia, Real Estate Girl

Realtors® aren’t helping the current real estate market crisis any.  We already have home owners losing their homes, doing short sales, walking away from their homes and turning their homes back over to the bank. We certainly don’t need Realtors® making an already horrible situation worse. But yet, here they are with all of their awards and designations mind you, (that nobody cares about but themselves) still patting themselves on the back and adding more fuel to proverbial fire by purposely taking over priced listings.

The market is saturated with over priced homes that are just sitting there, why do we need more?  Why is it that Realtors® just can’t say “NO?” If a home owner is being unrealistic, walk away from the listing instead of raising their expectations by listing the home at whatever price the home owner wants when you very well know the home will never sell at their asking price. Have some respect for yourself. Be the expert that you are supposed to be.

I just had a listing that I put on the market and priced it exactly where it should be priced and I had Realtors® calling me screaming at me saying that I priced it too low and that it was going to bring down the prices in the development.  They were telling me that aproperty like my listing in the condition that it is in, a year ago would have sold for much more.  Wake up!  Are you living under a rock? Why do you think we are in current real estate crisis that we are in now?  Just because homes that weren’t worth what they were listed for, sold, doesn’t make it right. And they call themselves professionals?

If we ever expect to recover from what is being called the worst economic crisis since the Great Depression, somebody needs to be part of the solution and not part of the problem and Realtors who are looked upon as supposed experts, should not be more afraid of not getting the business than doing the right thing.  How do you expect to ever be taken seriously in a profession that most people consider a joke if you can’t even do the single most important thing a Realtor® does which is price a home correctly?

I’m not saying that every single Realtor® is out there purpously over pricing homes but in the real estate industry, even one bad apple does spoil the whole bunch and as professional Realtors® we should be better than this. We are expected to put the client’sinterests ahead of our own and by knowing that a home is not worth what they are listing it for in order just to get more business is definitely putting their interests over that of their clients. This needs to stop.

It is of my professional opinion that Realtors® are making the real estate crisis worse and if they aren’t making it worse, they certainly aren’t helping.

What do you think? I welcome your comments.

Renee Porsia is an Associate real estate broker with RE/MAX Action Realty and published author.  Read more articles by Renee Porsia at www.reneeporsia.wordpress.com

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Ambassador
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Bryan Robertson
Los Altos, CA

Some agents go out of their way to make things look worse than they are because they work with a lot of buyers.  Talking about falling prices is exactly what buyers want to hear.  However, I feel it in everyone's best interest to provide a balanced view of the market.

Oct 01, 2010 07:46 AM #1
Rainer
264,127
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

Another person who has no advanced real estate education classes (that provide a designation) made a recent post feeling the need to blast those of us who have paid a lot of money and spent a lot of time in classes to obtain advanced real estate education so we can better understand the laws, the contracts, the practices, procedures, etc., in order to better help our clients.

If over priced listings is a problem, and you state that it's caused by agents who have the advanced education, then please cite the source of your statistics.

It is not about the designations: Agents without the advanced education are the ones who make it "about the designations"

It is about the EDUCATION. As I told the other agent: You don't know what you don't know

In my GRI classes there were 15 year veterans who said more that once: "I've been in real estate for xx years and never knew that."

Bill Travis, Associate Broker, GRI, BBS, CDPE, ePRO; and proud to have gained the education that came with those designations, and the Brokers license.

Oct 01, 2010 08:03 AM #2
Rainer
32,431
Renee Porsia
Sweet Digs Real Estate - Newtown, PA
Agent Genius

Bill, did you actually read the article?  It's funny that all you got out of the article was that I think that Realtors with a lot of designations are guilty of overpricing homes. Then I looked at your profile and saw all of your designations. My article was not about Realtors who have a lot of designations overprice homes. I made a quick comment about designations in my article. 

I wrote a blog about Realtors with a lot of designations.  You should read it.  

This blog is about how Realtors are so desperate for business that they purposely overprice homes in order to get business putting their own interest above the client's interest. I don't need designations to prove what a great Realtor I am or to have an opinion. 

Thanks for reading my article though.     

Renee Porsia, Associate Broker, RE/MAX Action Realty

ABC, OMG, LOL, ICANWORKWITHBUYERS, ICANWORKWITHSELLERS, iCANUSEACOMPUTER and proud to have gained the education that came with those designations and my Broker's license.

Have a great weekend Bill and thanks for the laugh.

www.reneeporsia.wordpress.com

 

 

 

 

Oct 01, 2010 01:52 PM #3
Rainer
264,127
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

Renee, I read your post completely, and I also read your comment, and you're still being insulting.

Your article clearly blamed Realtors with designations for making an already horrible situation worse.

These are your words:

"We certainly don’t need Realtors® making an already horrible situation worse. But yet, here they are with all of their awards and designations mind you, (that nobody cares about but themselves) still patting themselves on the back and adding more fuel to proverbial fire by purposely taking over priced listings."

So insult away, I won't read or make any more comments on your posts. And I'm sure that will give you an even greater laugh.

 

Oct 01, 2010 02:40 PM #4
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The Somers Team
The Somers Team at RE/MAX Access - Philadelphia, PA
Real People. Real Dreams. Real Estate.

Renee - It is tough out there.  Basically all of the listings are overpriced.  It is a rarity to find a seller that is motivated and has substantial equity that is willing to price right and is priced to sell.  Obviously they are a dream to a Realtor as the property can sell quickly and often times with multiple offers.  Sometimes they can draw anger like you say to other Realtors... Im curious, were they also living in that neighborhood, for a lower sales price would affect their value too ?  So maybe that is why they were upset  ?  Who knows ? Or maybe envy ?  Sometimes people are just petty... 

Oct 03, 2010 01:49 PM #5
Rainer
14,249
Bob Brock
Knoxville Fine Homes Realty - Knoxville, TN
Bob Brock

Great remarks and comments and yes Renee, I agree with you. It does not matter, whether the pictures are great , when it comes to adding value to the house.  Lots of agents, including myself, are guilty of overpricing homes and that is a real problem we all face. When it comes to dealing with an overpriced home, the good agents will simply explain the current market and hopefully get the pricing in line and when the clients are pleased, its all about the personality of the relationship, and that what makes the good ones verses the not so good. Keep on blogging, and you will make the front page also!!

Oct 12, 2010 07:24 AM #6
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