Are Realtors® Too Positive About The Market? Or Are They Not Doing Enough?
Thoughts on how we deal with the question, “Is now a good time to buy?”
In some ways, it might seem like career suicide to dare suggest that we as Realtors® might sometimes be too “sunshine and roses” when it comes to talking about the market, but the fact is, I often wonder how to present good news to consumers without coming off as just painting a rosy picture to suit my needs as an agent. I could go on and on how I’m not that guy, but in reality sometimes that just seems to make it seem worse.
In a recent email from the National Association of Realtors®, this exact topic was brought up and I wanted to see what the readers of my site thought of this. I’ve said it before and I’ll say it again, I think we need a balance…if we run around shouting “everything’s fine, it’s a great time to buy!,” eventually no one will believe us and think we’re just saying that to generate business. We all remember Chicken Little, don’t we? Well it works both ways. I think the key to the “balance” I seek, is honesty with a dose of sensitivity. Realtors® do need to get the word out that there are some great reasons to buy right now, but we also need to be sensitive to people’s reactions to the economy, the housing market’s problems, the job losses, and everything else that has been doom and gloom on the news lately. The media loves a sad story, no doubt, but there are reasons that not everything should be looked at with such a negative view.
Here’s the quote from the email that sparked my attention:
It is critical for NAR to be both realistic and optimistic concerning the current state of the real estate market. As you can imagine, that can be a difficult balance to strike, especially with market conditions changing on a day-to-day basis. Sometimes, NAR is viewed as a “cheerleader” for the real estate industry. That’s not inappropriate, considering we are “The Voice for Real Estate”. The vast majority of our membership feels strongly that we must do more to counter the overwhelming attention that the news media give to negative national housing market trends and help bring consumers back into the market. That is, in fact, what our ongoing messages and Public Awareness Campaign are designed to do.
So what do you think?
Do Realtors® and the National Association of Realtors® need to tone it down? Do we need to be less “cheerleader” and more support system? Or do we need to spread the message and shout it from the mountain tops in order to improve the housing market in the coming year? If you ran the National Association Of Realtors®, what would you be telling the public in order to show them that there is opportunity out there for buyers, but without making it sound like you’re just shouting “Real Estate, Real Estate, RAH-RAH-RAH!”
I’d appreciate your comments below or you can email them direct to me. I welcome both consumers and other agents thoughts.
photo courtesy of aznviolaguy
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Comments
I found this cool blog by… haha, because of the zemanta plugin.
Maybe I should drop a Pennywise comment
working around all the ‘old school’ agents is getting lame, I just here them complain all the time.
I wish that NAR commercial would just disappear about the ‘right time to buy’, it’s the same crap 6 months ago. When isn’t it a good time to buy in their eyes.
I think being somewhat optimistic is good but too much ruins the credibility. Sure some spots are improving, even in our market. But we still have all that ‘ghost inventory’ that is heading our way.
Jason, I’m sure you’ve heard me harp on this before somewhere we bump into each other constantly. It does ruin credibility if it runs too deep. There is good news, but much like statistics, I think you can always find the silver lining if you want to find it. There are currently a lot of great benefits to buying now, that’s not in question, but you can find a reason to buy in any. The best time to buy? When you need/want to. Sure there are advantages and disadvantages to different aspects of a real estate market, but when buying for the purpose of having a roof over your head and a home for your family – only you can really decide that it’s a great time to buy.
every situation with every single buyer is unique in it’s own separate way. only the buyer can make that decision.
the thing that irks me is when you have a shameless realtor running around saying that ‘it’s a great time to buy’ to everybody with no fundamental fact.
Jason – That’s exactly why I included Jay Thompson’s post in my related articles. If you look through those articles, there’s a mix of good, bad, and maybe answers.
Matt –
You know how I feel… The NAR (and agents in general) need to inform and educate consumers about the market, not sell consumers with a bunch of fluff.
The simple fact is that it is NEVER “a great time to buy” for everyone. There are just too many variables involved to make such sweeping claims.
Jay – This is why I love reading your stuff, sending people to your blog, and listening to what you have to say. You’ve never pulled a punch in your life I bet.
I like your description of it as “fluff.” Your article hit the nail on the head. I feel the same about pricing. I can show you all the comps in the world and tell you that it’s priced right, but unless it’s the right price for the right home for you…well, it’s not the right price is it?
Of course, with the above argument comes responsibility – it is still my job to inform and educate you as to pricing and why it is a justifiable price, but it still doesn’t change the facts. If a home isn’t priced right for you, you shouldn’t be buying it.
There are so many variables in real estate, I agree. Mathematical, statistical, logical, emotional, personal, and just plain old “gut feeling” too. Each one can push any decision one way or the other.
Thanks for stopping by Jay, I know you’ve got a lot on your plate at the moment. Can’t wait to hear how it goes.
Last year we had an economic summit meeting focusing on our local area. Ben Stein was a speaker (Bueller … Bueller … Yeah, that guy). He had the best quote of the night. “The best time to buy is when there is blood in the street.”
That has never been more true than now. If you are in the market to buy real estate, now is the time. Of course, as Jay says, it totally depends on your situation (doesn’t it always?) but I know I sure wish I had a few thou laying around right now.
I’d hate to have to sell today, but there are deals to be had if you’re a buyer.
Inform and educate is definitely our job. I’ve always felt like more of a consultant than a salesman.
I can’t sell a house for crap, but I can help you make the right decision for your situation. I have told people straight out that they shouldn’t buy something at the time … It’s better for business in the long run when you don’t BS people.
James – I like your way of putting it, “I can’t sell a house for crap, but I can help you make the right decision for your situation. I have told people straight out that they shouldn’t buy something at the time … It’s better for business in the long run when you don’t BS people.”
I think the world needs to know how we view ourselves, our association, our clients, and our profession. It helps to see that there are those out there (and I think we out number the “bad apples”) that want the industry to be a good experience for their clients.
I’m not sure about you, but I have to sell homes to earn any money.
Yes, it is an excellent time to buy in some parts of the country… if you have a five-year time horizon in mind. That is the point that I make sure all my clients understand before we head out to spend their money.
Prices are down, rates are below 5%, and they have always wanted a home. Bingo!
Doug – One of the best things my dad ever taught me was when I bought my first stocks. I watched them day to day and when they would go down, I was frustrated. When they would go up, I would celebrate…until they fell again. My dad realized how I was viewing them every day and taught me the idea of being in for the long haul. Stocks can be great, if you can hold on them.
When things started to look a little rough in the housing market, I thought about this advice. So many people had stopped looking at property as a home and were only looking at it as a bank account. Not everyone’s problems are a result of this, but there are plenty that got caught up in that game.
I always try to advise clients to buy a “home” first and deal with the investment potential of it second. Sure, we all want to make money when we sell our homes down the line, but overall, we need shelter.
I refer to Jay Thompson’s comment:
The simple fact is that it is NEVER “a great time to buy” for everyone.
and Jason Sandquist’s comment:
I think being somewhat optimistic is good but too much ruins the credibility.
Two solid quotes that I agree with completely.
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