The Very Different World of Real Estate in the 1970s

By
Real Estate Agent with RE/MAX Gold DRE #00697006

There are very few agents who have worked in real estate, much less in Sacramento, for as long as Elizabeth Weintraub. I don't know of any. The reason is most people start out in some other career. They don't go into real estate as a child bride, illegally traded in the sex slave industry.  Or they are dead by now. Cheery thoughts for a Tuesday morning.

I got my real estate license in the 1970s. I started out working at First American Title Company in Colorado, initially as a policy typist and when that drove me stark raving mad, then as a title searcher who went to the courthouse to search grantor and grantee books. Along the way I left Nederland and moved to California to become an escrow officer, then a Certified escrow officer, and finally made the transition into selling real estate full-time. Bought my own real estate brokerage at age 26.

But enough about me. Let's talk about what the industry was like back in the early days, during times of 18%+ interest rates, tough loan qualifications and when an agent could do just about anything she wanted without getting into trouble. You can read more in my personal blog today at this link: What Selling Real Estate in the 1970s Was Like.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Rainmaker
3,363,671
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Elizabeth -- what an exciting journey!  Baby, you've come a long way and so has the world of real estate.   

Jan 24, 2017 10:11 AM #1
Rainer
134,083
Shahar Hillel
Augusta Financial Inc. - Stevenson Ranch, CA
Mortgage Consultant, Loan Officer.

Elizabeth Weintraub, seems like things were different in the 70's. Congratulations on a long career.
All the best.

Jan 24, 2017 10:51 AM #2
Rainmaker
3,135,685
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Elizabeth... well, I was in the corporate world in the 1970's and 1980's but I could relate to any number of things you discussed pertaining to the real estate world back then. Especially those high interest rates... I remember negotiation corporate lines of credit in the hundreds of millions when prime rate was 19% and most companies didn't even qualify for prime rate. (And now people belly ache when rates hit 4.5%!)

Jan 24, 2017 11:38 AM #3
Rainmaker
773,982
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Such a different landscape for Realtors as well as buyers and sellers in 1970. Heck, it was a whole different way of doing business just 15 years ago with the rapid change in technology, low interest rates, etc.  It would be really interesting to have weathered 40+ years of changes in the industry.  Crazy! -Kasey

Jan 24, 2017 02:40 PM #4
Rainmaker
686,759
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Values went up so fast back then, and interest kept rising. You would think that the high interest rates would slow people down but it didn't. The higher it went, the more frantic the buying. And selling. Anyone with the stomach for it, made a pile of money.

Jan 26, 2017 06:09 PM #5
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Makes you wonder how things will change 40 years from now to make what we are doing outdated and out of the question.

Jan 28, 2017 10:17 AM #6
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