Buying and Selling Real Estate in 2008

By
Real Estate Agent with Better Properties Seattle

Generally speaking, I have been a strong proponent for Do It Yourself Real Estate at times, more times than most agents.  But I have to say I'm doing a complete about face in 2008.  It's a really bad time to not have someone assist you in navigating through the process of buying or selling real estate, and having an agent vs. not having an agent can clearly make the difference between a soft and hard landing.

I love the visual of the guy in front being the person looking at property to buy, or a seller trying to figure out how to sell their home in this market.

NO MATTER HOW MUCH YOU KNOW, and you clearly may know a whole lot, you can't possibly have enough volume of info in your everyday experience to match the knowledge of a professional in this market.  Honestly, even the best of us are having trouble trying to stay on top of everything that is happening out there. 

For buyers, choosing "the wrong" property or overpaying for a property is clearly more dangerous now than it was in 2003 or 2004.  For sellers, being on market 60 days longer than you could have been, can clearly cost you money when the market is trending down on a weekly basis.

I have no idea why many agents want to pretend the market is better than it is.  When the market is going up, people need an agent less.  The market is NOT going up.  We are NOT at bottom.  And having someone to guide you through is more imporant now than ever. 

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Rainmaker
121,400
Vickie Arcuri
ONE Sotheby's International Realty - Fort Lauderdale, FL
South Florida Luxury Real Estate

Hello Ardell, I love the pic you used for this post!  :o)  It's definitely important for Buyers and Sellers to have guidance--particularly in this market.

Jul 13, 2008 04:47 AM #1
Rainmaker
1,244,530
Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

Good material Ardell. Keep on a posting.

Jul 13, 2008 04:49 AM #2
Rainmaker
215,151
The Brewer Team - Benchmark Realty
Benchmark Realty - Franklin, TN

Ardell - Great picture, the guy in front looks like he's going to have a rough landing.

Jul 13, 2008 04:52 AM #3
Rainmaker
276,549
Eric Egeland
RE/MAX SUBURBAN - Libertyville, IL
SFR, e-PRO, CDPE

Thanks for the post Ardell.

Great picture by the way.

I agree with you....in this market, people need a good agent to get through buying or selling

Jul 13, 2008 04:56 AM #4
Ambassador
730,876
Courtney Cooper
Ben Kinney Brokerages Leadership at our Keller Williams North Seattle Office - Seattle, WA
206-850-8841

Do it your selfers definitely need a parachute, although some can still get away with it in hotter neighborhoods. Great picture:)

Jul 13, 2008 04:59 AM #5
Rainmaker
713,133
Cheryl Johnson
Highland Park, CA

God Bless You ARDELL for having the guts to tell it like it is.

Jul 13, 2008 05:01 AM #6
Rainer
56,978
Peter Nikic
Broad & Bailey Realty LLC - Valhalla, NY

Ardell, in other words, depending on the jumping conditions and experience (from photo above), you're saying that the jumper may need more or less guidance. It is possible for a 1st time jumper under whatever conditions to jump and have a good successful landing. I even heard of a woman who had fallen out of an airplane (20,00 feet) and survived.

I agree that the best and most guaranteed results will come with proper guidance and yes the conditions are a little rough right now. great analogy. 

Jul 13, 2008 05:21 AM #7
Rainer
68,685
Alan 'AJ' Nisen California Contra Costa Mortgage Officer
A Large Bank in America - Lafayette, CA

Ardell, That is not just condition for Realtors in this market but also for Mortgage Loan Officers.  Working with Underwrites and clients often is like an intricate puzzle and another set of eyes (knowledge and experience) can often be the difference between an approval and a decline. AJ

Jul 13, 2008 05:57 AM #8
Rainmaker
44,255
Rob Graham
Windermere Real Estate - Seattle, WA
Rob Graham

Good post Ardell.  It is hard to believe how much misperception there is out there at the moment about the market. 

Jul 13, 2008 07:32 AM #9
Rainmaker
304,760
ARDELL DellaLoggia
Better Properties Seattle - Kirkland, WA

Rob,

...and what is your perception about the market?  What do you see as "misperception"?

Jul 13, 2008 12:33 PM #10
Ambassador
557,018
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Ardell...

I am of the not so humble opinion that salespeople having been reading waaaaaaaaaay too many motivational books :)

There are all kinds of ways to keep yourself motivated. Lying to yourself and others just doesn't happen to one of them.

Oh...And I can't resist this one. Never underestimate the power of denial :)

P.S. I think I'll turn that last remark into a post :)

TLW...ROAR!

Jul 13, 2008 12:52 PM #11
Ambassador
524,084
Cindy Marchant
Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN
"Cindy in Indy" , Realtor, Fishers Real Estate

Hi Ardell, I wish we could convice those FSBO's and the ones that buy without an agent of what you say.  I have held FREE First Time Home Buyers classes for weeks, no one comes.  I could explain all the ways I advertise this, but let's just assume I do a decent job at this.  When I'm with buyers, I explain in the first meeting that opening the doors or finding properties to look at is the EASIEST part of my job; the value I bring to them is really in determining whether the property is priced right and what resale of that particular neighborhood is.  I also think I bring value in connecting them with great lenders, inspectors and various other professionals that they may need.

 

Jul 14, 2008 07:31 AM #12
Rainer
73,636
Pam Pugmire
Silvercreek Realty Group - Meridian, ID
Meridian Idaho Real Estate

I agree Ardell!  I also am an agent that has been in favor of FSBO's too.  However, the tougher the market, the more info you need as a buyer or seller to get the job done, and get it done well. 

Jul 14, 2008 04:41 PM #13
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Rainmaker
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ARDELL DellaLoggia

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