When Is The Best Time To Be Honest?

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Sometimes reading real estate agents' blog posts, I just can’t help but remember this street scene on Brighton Beach in Brooklyn, where to hear Russian is more common than to hear English. An older lady was carefully checking tomatoes on the grocery stand, when an employee, a young Mexican guy, approached her and smiling ear to ear said in perfectly sounding Russian "Buy now, stupid, it will be expensive tomorrow".

Some moron taught the unsuspecting Mexican, that it was a nice thing to say.

I keep running into blogs, where agents insist that the time to buy, or the time to sell is now. Of course, if you are not new to reading agents' blogs, you would notice that the time is always now.

And if the market is sort of indicative of being close to the lowest in years, I can understand the idea of buying now, but I do not see how it can work both ways, meaning both for Buyers and Sellers at the same time.

Just today I read a blog on Active Rain suggesting that the time to sell is now.

What is the logic behind the statement? Well, it is based on low interest rates, stronger local job market, more active real estate market, etc.

Ah-ha, it means the market is getting better for the Sellers. “The Sellers are able to demand higher prices than in the recent past”.

“There’s never been a better time to sell your home in…” Really? And what about 2005 or 2006? Were the prices higher then, as is the case in our area? And if yes, then how about “never”? In other words, is it true? Or is this the case of Realtor cheer-leading, and all it means is “Buy now stupid, it will cost more tomorrow”?

Can the Seller benefit from waiting?

When we see the shift in this Buyers’ Market/Sellers’ Market cycle, and the prices start going up, it takes a few years to reach the peak, so it is common to get less money when you sell in the early days after the shift happens. If the market is getting better now, can you, in all honesty, say that the Seller will make more money today than in 2-3 years?

People still sell and buy in any market, and there are plenty of other reasons why they would sell at a specific time, but from the purely market standpoint it seems that waiting could be a wise strategy.

Would you tell it to the Seller? Would you tell them what you really think? Would you advise the Seller to wait if they do not have to sell now?

Often times they need to sell now, but at least I tell them what I think will be happening with the market. I think agents telling people that the best time to sell is now is a lie. How can they know?

I can only guess when it is a good time to buy or a good time to sell, but I will know when it was the best time to buy or sell only after this time is over.

Yes, real estate is local. And the best time to sell is when it is the right time for the Seller. This time may be different for different sellers. Price is not the only factor here. Life with all its manifestations is. Some can wait for better prices, others can’t.

We somehow forget why people are buying and selling. They buy when they need a property and can afford it. They sell when they need to dispose. And as long as you can afford buying, when you need the property, and sell and not lose money, you are in great shape.

And for us, agents, the best thing is to be honest. «REALTORS® shall avoid exaggeration». It is not me, folks, it is Article 2 of Code of Ethics.

Don’t you think that general public does not really trust us for this simple reason that as an industry, we always tell them “Buy now, stupid. It would cost more tomorrow”?

Which moron taught us that?

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  1. Jon Kolsky 02/16/2013 03:01 AM
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Michelle - very few people buying real estate are really investors, and if they are, they do not need a push, They know the numbers better than any agent.

However, those who buy for their own use, are simply trying to buy it at thelowest price they can. Or sell at the best price at this moment.

 

Feb 16, 2013 07:40 AM #13
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Jon Zolsky, Daytona Beach, FL
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Inna - I am not sure Russians are any more honest than others, Some are, some aren't, like with everything else. I simply think that it shouldn't be so self serving

Feb 16, 2013 07:42 AM #14
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Jon Zolsky, Daytona Beach, FL
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Dan - so true. But this is when you are about clients and their interests. Best time to buy is now is most probably very self-serving

Feb 16, 2013 07:43 AM #15
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Jon Zolsky, Daytona Beach, FL
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Bill - me too. I am watching our market and i would give my opinion that the time to buy may be now. I already know that they will pay today more than they would have to pay yesterday, so I see the trend. but the blog was about the best time to sell, while all the characteristics were about the market shifting from the Buyer's market to the Seller's market.

So, while I would agree with her saying that today is a better time to sell than yesterday, saying that time to sell is now is not really honest answer, or she simply does not understand that the trends in real estate are taking longer than a week or a month

Feb 16, 2013 07:47 AM #16
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Jon Zolsky, Daytona Beach, FL
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Miriam - of course. It is not as simple, or we wold have only selling spree at one time and buying spree at another time, but not both at the same time, which we usually have, and they somehow balance each other.

Feb 16, 2013 07:48 AM #17
Rainmaker
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Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

When you need to sell is the time to sell and when you need to buy is the time to buy!

Feb 16, 2013 08:52 AM #18
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Jon Zolsky, Daytona Beach, FL
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Ощрт  - "Stay true to yourself" - amen

Feb 16, 2013 02:43 PM #19
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Jon Zolsky, Daytona Beach, FL
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Giny - gotta be easy, but it isn't :)

Feb 16, 2013 02:44 PM #20
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Jon Zolsky, Daytona Beach, FL
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JON - Is there difference between an opinion and a statement? I think there is, and it is all a matter of whose interests are in mind. And this is an opinion :)

Best Time to sell is now is a statement, and could easily be a lie. Atleast it is easily be an exaggeration

Feb 16, 2013 02:47 PM #21
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William - it simply might not be true.

Feb 16, 2013 02:48 PM #22
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Jon Zolsky, Daytona Beach, FL
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Jon - I would not necessarily agree. Now we have all those short sales, and the justification is that Buyers were fooled, the values were greatly exaggerated (interesting, who did it?) so now they are allowed to short sell or modify the loan. Were they adults?

When we make statements knowing that they are not not true, this is inducement. It is for the sake of our financial gain, but this opinion can affect people.

Feb 16, 2013 02:51 PM #23
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Jon Zolsky, Daytona Beach, FL
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Sharon - absolutely.

Feb 16, 2013 02:52 PM #24
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Jon Zolsky, Daytona Beach, FL
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Bill - ou know the answer. You may lose a sale, but not the sleep. i sleep with unlocked door for over 10 years, and I would love to keep doing it this way

Feb 16, 2013 02:54 PM #25
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Than - and it is an honest statement, and not an atempt to get into someone's wallet

Feb 16, 2013 02:54 PM #26
Rainmaker
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Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

The best time to sell is just before a market crash.  The best time to buy is just before a market rebound.

The best time to tell when for either of those is, um, wait, let me think.

I'll get back to you.

But now is surely the best time to be honest.

Feb 16, 2013 07:09 PM #27
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Jon Zolsky, Daytona Beach, FL
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Jay - that's correct. All I am missing are the dates. So, please, get back to me :)

Feb 16, 2013 09:29 PM #28
Rainmaker
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Mark Horan
Resident Team Realty, LLC & Toni's Property Management LLC - Saint Cloud, FL
"The Resident Chef" - Resident Team Realty LLC &

Jon, Let's look at the idea of selling now, if so what you lose you make up when you buy as the market dictates. Then while the market is rising you are in your new home. Transversely if you wait, and as most buyers do, they move up. They will also be paying a premium to the home they are relocating to. So, if they are moving down, or downsizing, they should wait. This is a sellers market in Florida. Sell Now.

Feb 18, 2013 07:18 AM #29
Rainmaker
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Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Real Estate is alway good to sell and buy as far as I am concerned I am a Realtor

Feb 20, 2013 08:54 AM #30
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Mark - but it is a different story. It can make a lot of sense in many situations, but what was given was simply that it is the best time to sell, period. Not because it was probably a good chance to buy at great discount, so the loss could turn out to be the win...

Feb 20, 2013 09:17 AM #31
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Yolanda Hoversten
Berkshire Hathaway HomeServices Elite Properties - O'Fallon, IL
Broker - O Fallon, IL Real Estate
When I ask how can the market be so great when people are out of work? I've beem getting a lot of eye rolling. LOL
Feb 21, 2013 07:43 AM #32
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