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Sorry, you can't make me buy !!!

By Bill Gillhespy

Real Estate Agent with 16 Sunview Blvd

September 10, 2007 06:26 AM

I read posts about several basic issues confronting us all:

* Are " Open Houses " worth it ?

* How should we be advertising ?

* What is the most effective form of marketing ?

* When will the market rebound ?

I suggest there is a more basic underlying question. That is: Is there anything we can do to " creat " a buyer? Is there an ad campaign, newsletter, open house gimmick, print ad, web site or well, you see where I am going with this.

My thought is simple: None of the above will make an unwilling consumer suddenly decide that now is the time to make this very important decision. Sure, it may help tip a serious "looker" into writing an offer but the large number of buyers needed to support a more normal market simply arn't there. The buyer chooses when to enter the market and under what terms. Period.

For this market recovery to begin in earnest we need to see a consistent national belief that the market has made its corrections and is now bumping along the bottom. We need buyers to believe that real estate is at least committed to long term price support. Savvy investors and informed buyers will lead the way back to a normalized and orderly market. Months after that the media will report this exciting new trend and then the average buyers ( whatever that is ) will complete the cycle.

Lowering prices, auctions, discounts, short sales, freebies, etc will only prolong the current phase of the market.

We cannot " create" buyers. We will see buyers return to our lisitngs when the evening news no longer includes our industry as newsworthy.

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Karen Monsour

Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL

REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Bill,

Postive attitudes breed positive results. I tell all my interested customers to ignore the media. If we all started to think and talk positively about the market, slowly but surely the general public will start to believe us and perhaps the media will too.

Karen Monsour, Fort Lauderdale

Sep 10, 2007 06:35 AM

Ellie McIntire

Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD

Luxury service in Central Maryland

I grade the level of interest of my buyers- Some may take 6 months to buy a home. I don't "create" a buyer, I just diligently work my SOI.

Sep 10, 2007 06:38 AM

John Klassen

M & T Bank - Kingston, NY

We are not in a liquidity crisis. BAnks have the cash to lend. We are in a confidence crisis. Once there is conidence back in the market we will be able to move forward. Until then it will be an iffy ride.

Sep 10, 2007 06:53 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

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

Karen, Thanks for commenting. Perhaps our positive voice will help on the national level.

Ellie, Not the point of this post but I appreciate your reading and commenting.

John, Excellent choice of words. Thanks for commenting.

Sep 10, 2007 07:00 AM

Mark Pilatowski

myClosingSPACE - Manhattan, NY

I understand the desire to believe the media is driving the market and I tend to agree that constant negative news does not help. The fact of the matter is that in many many areas housing prices skyrocketed well beyond what they should have. It is a natural cycle but it has been exacerbated by the fact that prices went so high so fast. I wonder how many RE professionals were complaining when the news was all good? My guess is not too many although I am sure there were a few with enough foresight to see where the market was heading. I am a potential buyer and even though I make well well above the median income in New Jersey I can't afford a home at the current prices, which are falling. Until they get down to a range that we non-millionaires can afford while still being able to feed and clothe ourselves I will continue to rent. I see the market correcting for another 12-24 months before reaching the bottom and maybe then I can buy. I understand the power the media wields but they are not what is driving this downturn just like the did not drive the inflated bubble when it was at its peak.

Sep 10, 2007 07:12 AM

Mario Villagran

U.S. Spaces - Burbank, CA

MBA, Realtor

Bill, As we all know buying a home is an emotional time and sometimes an emotional decision. Our buyers are on the fence waiting for a bottom. What I'm trying to do is to convince them to continue to look because they might pass up the chance of making an offer on the house that they feel is perfect for them.

Sep 10, 2007 08:27 AM

Mark, When examining the reasons behind the high prices I suspect there is plenty of blame to go around. I do remember going head to head with sellers because they could ask well over market value and get most of it. Notice how the buyers are just as ruthless toward sellers as the sellers were 2 years ago ? Goes around...

Mario, Thanks for stopping by and commenting.

Sep 10, 2007 09:04 AM

Christopher Onwuasoanya

Atlantic Waste & Power System - Sparta, NJ

I am glad that sanity is returning to the market. Now we are really working to earn our commissions. In good and in slow markets the professional prevails.

Sep 14, 2007 03:10 PM

Nancy Siau

The Lachicotte Company An Exclusive Affiliate of Christie's - Pawleys Island, SC

Selling Coastal SC

I so agree with your comment, "We will see buyers return to our lisitngs when the evening news no longer includes our industry as newsworthy". If the media would stop creating the "doom and gloom" buyers would surely be ready to buy. Now they are in fear they will buy to soon and are holding out for the "bottom dollar". Great points.

Sep 16, 2007 09:09 AM

Gary Bolen

McCall Realty - South Lake Tahoe, CA

CRS - Lake Tahoe Real Estate Information

Bill, you're right, we can't create them, but we can teach 'em a thing or two... if they will listen. Thanks for pointing this out, and for commenting again with us.

Best

Sep 16, 2007 02:17 PM

Nancy,

You are absolutely correct, which I post as "the positive agent" I want the rest of the members to support me! This is the only way for us to change the attitudes in the current market!

Karen

Sep 16, 2007 02:27 PM

Chris, Nancy, Gary & karen: Very much appreciaye your stopping by and supporting my post. Reinforces my belief that there are many, many good agents out there.

Sep 17, 2007 01:32 AM

Sorry, you can't make me buy !!!

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