The Real Estate Broker's Corner

Some bad habits die hard. I am talking about setting appointments with other real estate sales people.

In the good old days, when things were selling for 105% of asking in two weeks,  you could call for a showing appointment as a cobroker, and expect some resistance. The listing agents didn't need cobrokers, they knew that the listing would sell, and why share commissions? People get fed up with waiting, and eventually will call the name on the sign. Very unprofessional, in my opinion, because the listing agent was holding up a showing for nobody's interest except their own. Also a direct violation of REALTOR code of ethics, but not every real estate person is a REALTOR.

I never agreed with it, I never did it, but I understood it.

A few weeks ago, I called an agent from a big franchise to arrange a showing of one of her listings, a foreclosed property held by a bank. She told me I could piggy back with another showing in the following week.

I was speechless. I had a qualified buyer interested in the property, but she had no time to show it? And would not show it exclusively? Did she feel that because it was foreclosed, her services should be diminished?

I don't get it. It is stuff like that which makes people say " why pay a realtor, sell it yourself", and with that agent. they would be right.

Little plug: We show everything as soon as possible. I have shown some houses on 30 minutes notice. Buyers are interested in seeing things NOW, and if you wait, the interest can disappear.

Before you list a house with anyone, find out what they are going to do to show your home. Your going to pay a lot of money for a commission, you should get a lot of service as well. 

One of my customers came into the office, and said I was watching too much TV. He said the negativity from the news, (CNN & CNBC) was going to impair my ability to "be positive", and sell his home. After lecturing me for a bit, he told me he was going to get a St. Joseph statue, and bury it in the front yard. I suddenly felt a strange kinship to Galileo, having seen the negative reality confronted with comforting fantasy.

Admittedly, I have commented here and to others that the market is difficult, that the state of real estate financing is difficult, and that the outlook is for more of the same over the next year. Also, I have never been a cheerleader. Not in my job description. I am here to help people sell property, not to be the blow smoke at my customers.

I don't think I am being negative, I am just telling the truth. The market is difficult for sellers, and will probably continue that way for the next twelve months. Foreclosures will continue to feed supply, and tighter lending will pinch demand. Washington Mutual's CEO calls it a "perfect storm in housing" today. His words, not mine (I'm being positive here).

To prove that I am not seeing only the negative, let me say that I am absolutely ecstatic for buyers. This is possibly the best time to buy a home since 1990! The rates and prices that are making a perfect storm for sellers are creating great opportunities for buyers. I am so excited for buyers that we are going to begin running buyer seminars in October, to better help them realize their housing goals. I wish I was a buyer today (more positive commentary, see!).