Hard Times in Real Estate Shows True Colors in Character...

By
Services for Real Estate Pros with Property Services & Short Sale TC

     It seems in the Southern California area such as Los Angeles County, Orange County, San Bernardino, and Riverside County some hard times have it the Real Estate industry again.  As some laws commenced at the start of 2013 it has turned our inventory to an all time low.  Most noticeable within the price range below the $700k mark.  Not only are the homeowners trying to find a home but they have to compete with the head of the line "all cash" buying investors.  Even though business is business I would like to believe that the average person/family that wants to purchase a home should be able to get one.  But in this current market that seems to be an up hill battle, which saddens me to tell some buyers and friends.  I tell them here are some of the things I've been running into from the listing agents I've had to contact.

- Listing agents are new and are not informed of the proper documents and procedures in a standard sale & unessary aid is needed to help inputing their listing into the MLS

- Listing agents are not putting the home on the MLS even though they are contracted too.  (and most sellers would want that extra marketing on the MLS)

- Listing agents are not showing all of the offers to the seller

- Buyers agents are getting frustrated and not explaining that the overbids most likely will cause the buyer to come up with more at the table

- Brokers are looking the other way so they can make the sale

 

     Well, at least the Real Estate industry goes up and down so sooner or later the tables will turn for the better...hopefully sooner.

Comments (2)

Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Things changed so fast. We have  lack of inventory here in Chicago Land. I have had some people think I am lying when they want to write low ball offers and I tell them they won't get it because lots of people are also interested and there are multiple offers. Even more frustrating is when I get folks who ask for a house that has this many BRs and costs this much and it cant be had. A year ago there were tons of choices.

 

I still love my job and I ain't giving up.

Apr 13, 2013 02:23 PM
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

John ... Listings agents are required to put the home and property on the MLS in Califonia.  If you see such a violation in Illinois, you should probably contact your local MLS or board of Realtors.

May 20, 2013 06:51 AM