negativity in the media

By
Real Estate Agent with Kilauea Real Estate Company

Are we going to let the negativity in the media continue to create irrational fears in our clients? Or are we going to fight back and tell the truth about all the good things that are happening in today's real estate market?

There are more than 1 million Realtors in the United States and approximately 2 million people who hold real estate licenses. What can we do to counteract the flood of negative press? Some things too remember are;

Whenever you read or hear a piece of news that uses a percentage, remember there are two ways to view that percentage. Take these two examples:

Negative Media: Twenty-five percent of the subprime mortgages in the U.S. are not performing.
Positive Realtor Response: Subprime mortgages represent 25 percent of all mortgages in the U.S. Of these, 75 percent are performing.

Negative Media: "Owners Face Massive Losses As Values Plunge By Over 4 Percent In Just 10 Months."
Positive Realtor Response: "Property Values Soar 300 Percent Over The Last Nine Years."

With the exception of a few states that have experienced massive job losses in the manufacturing sector, most areas have seen a substantial increase in property values. 

Record years are always followed by declines

One of the negative media's favorite ways to tell us negative things about the real estate market is to quote how much sales are down from 2004, 2005 and 2006. We had the lowest interest rates in more than 30 years, which in turn, triggered massive numbers of sales and price appreciation.

We need to ban together to get the positive news out there. Write letters to the editor, post the news on your blog, use it in your marketing materials, and talk about the good news to everyone you know. Realtors are a positive force for good in this country -- let's harness our energies to jointly respond to the attacks on our industry and to renew the hope and optimism of the homeowners in this country. 

www.whybuyhawaii.com

www.lighthousebistro.com

Comments (1)

Esko Kiuru
Bethesda, MD

Matthew,

It's unfortunate that the media likes to dramatize everything to increase sales. The home values went up nicely in the early years of this decade and even if they are giving back some of those gains now, they still show on average good advances. Good points.

Nov 23, 2007 03:51 AM