"It’s a great time to buy Real Estate!" The consumer responds. Are you listening?

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Hi folks. I wrote a post last week titled “Now is a GREAT time to buy Real Estate! Or is it?” In that post I was pointing out how our local board(and now FAR) are asking us to advertise “Now is a great time to buy Real Estate.” My thoughts were and are that this is actually being less than honest and I do not agree with this type of advertising. Pop over and read the post if you haven’t already.

Anyway, I’ve had quite a few consumers who have read and left their opinions on that post. Here are their responses: (the comments have been edited for length only).
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FROM STAN:

Anything the NAR says now doesn’t make any difference in the consumer’s mind as they have looked like fools for the past couple of years. With an approval rating on par with Congress, there’s little room for any downside movement. Let’s see….they said the market was going to bottom out and begin another upward movement….when was that? LOL Then, it’s the end of ’08 and now it’s ’09 and in six months, it will be ’10.

You just keep telling the truth and you’ll continue to do just fine. For ANYONE to say it’s a great, or even good time to buy in FL is blowing smoke. Patient, careful buyers will know when it’s the right time to buy and not based on any slogan by some trade organization. The same people who said it was a great time to buy this time last year, overpaid by how much??…10%, 20%, or more in some markets?

The only thing more laughable than “Buy Now” is “It’s different here”. After reading the market numbers for some of the markets represented in the comments, who are they trying to convince…clients or themselves?

FROM WAR EAGLE:

Thanks for displaying a beacon of conscience in a turbulent market. Please know that your honesty is what people are paying you for. Buyers/Sellers user Realtors (R) because they need advice from someone they can trust. For most people, buying a home is the most significant expenditure that they will make in their lifetime. The idea that their Realtor(R) would have “money in their pocket” at that time, versus the well-being of their client is appalling. In all honesty, your profession is due a massive shake-up, and when it is all said and done, those that have had integrity will leave with their reputation intact and will not have to compete with all the greedy johnny-come-latelys for listings. Again, thanks for the honesty.

FROM DAVID:

As someone who is not part of the industry, I can tell you that I would NEVER use an agent who parroted that kind of garbage either in an ad or in person. Really, it would be equivalent to you saying “I am either an idiot or a con artist, and I’m hoping you are dumb enough to believe this transparent propaganda. Please hire me.”

If you have built your business on honesty and trust, now is not the time to abandon that policy. The era of the Huckster Realtor is coming to a crashing halt. In a few years, with any luck, the only real estate agents left will be those who have distanced themselves from the NAR and its self-serving hype, and who have earned the trust of their customers.

FROM WEARY CONSUMER:

Mr. Tutas – I applaud and appreciate your integrity. Stand by for something less pleasant for others: Regrettably, far too many agents are blind to the circumstances around them. A famous quote says “It’s hard to get a man to understand something when his job depends on him not understanding it”.

This is the current case with RE. QUIT CALLING BOTTOMS in the market. You are destroying your credibility as professionals. What if you are wrong? So you get the sale, you will be thought of as a swindler forever.

I am a high 700’s FICO no-debt, non-contingent buyer with cash in the bank. And every time at an open house when some agent tries to tell me it’s a great time to buy, I feel insulted. As if most agents would ever tell you that it is a bad time. I’ve met a few, but not many.

I DO PLAN TO BUY. I am not waiting for the bottom. But I am sick of these agents insulting my intelligence with their fast-talking sales hype. I know there are good realtors out there. I am working with one. But the rest of you better get straight with the facts and quit blaming the media. Most of the gullible buyers are locked into an underwater house.

Now, you have the people like me. We didn’t get in this position of power by believing sound-bite advice. I sincerely apologize to the conscientious and competent agents who truly have their client’s interests as a priority. But the rest? Your world is changing, and you need to realize it fast.

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What do think about that? I want to point out that I’m not disputing whether or not “It’s a GREAT time to buy Real Estate”. It may very well be in some areas. I just feel that advertising this way damages our credibility. The consumers above have expressed this very clearly. And I agree. Do you?

By the way, there are more consumer comments on my previous post. Go check them out……and listen!

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