The High Road Papers - Latest Comments in You Can’t Handle the Truth!

Re: You Can’t Handle the Truth!

Amy Jones — Sun, 31 Aug 2008 02:39:06 -0000

Kudos, Jay, you hit it on the head. Over the past year, I've talked more potential sellers into "staying put". They're always flabbergasted when one of my first questions is "Do you HAVE to sell now?" Honesty breeds a loyal client base which "A Agent" apparently hasn't figured out.

Re: You Can’t Handle the Truth!

Louis Cammarosano — Sat, 30 Aug 2008 19:50:58 -0000

Jay
Statements by realtors exhorting their brethern do opposite what the market and your professional opinion might dictate smacks of a cartel type mentality.
I would think THAT is the impression that realtors would like to avoid!

Re: You Can’t Handle the Truth!

Joseph Bridges — Thu, 28 Aug 2008 20:13:50 -0000

It is funny how many can't understand that we must do our best to deliver the truth to our clients. This year my brother and I have told many different sellers it isn't the best time to sell because that was and is the truth right now. If a seller wants to sell then we are happy to help them but if they have options, such as Steve mentions about renting homes, then we let them know that. Sellers always appreciate the honesty and refer their friends and family who do have to sell or buy. Funny how the truth has great rewards.

Re: You Can’t Handle the Truth!

SteveBelt — Thu, 28 Aug 2008 20:09:53 -0000

I'm renting and renting and renting home after home after home, because my clients are consistently making the decision, now is not the time for them to sell. A few of them decide to sell, but most decide to stay or rent. Sellers rank in the minority, for sure, and successful sellers are yet again a minority of the sellers.

Re: You Can’t Handle the Truth!

Jim Gatos — Thu, 28 Aug 2008 06:51:33 -0000

Actually Jay, I have to disagree with you somewhat, and if you knew me personally, generally I'm pretty much somewhat "cynical" and tend to form my own opinions no matter what.

I think the question of whether it's a good time to sell or not is all a question of relativity. The last time I saw something like this was in the early 90's . All of the sudden, "FOOM"! A 15% - 30% drop (or so). Not as many short sales and foreclosures then. Prices stabilized and in the mid 90's everything was pretty much stable. Then slowly around 2001 prices went up and then "BOOM"! Really up! Then in late 2004, "FOOM"! down again.

I personally think it's an individual matter. If someones NEEDS to sell, they should. If they want to pay the "PITI" until the market goes "BOOM"! again,they can, but I personally think that won't happen for about 7 to 10 years. I don't see values much now; I think prices pretty much stabilized in Mass; however, if someone where I am wants to sell, they'd better hurry up and call me. Yeah, they say in Mass prices have come down, somewhere around 5%=7% in a year, but I think the best thing to do when giving out advice is to study the absorption rates for the specific property in question and look at ALL options. Ask some of my clients; if a property is well priced, it will sell in any market. You see, RIGHT NOW may be the BEST TIME to sell, depending on the situation.

Re: You Can’t Handle the Truth!

West Hampstead London — Thu, 28 Aug 2008 06:44:06 -0000

Its like any other business, and we are all linked in some way; plumbers, carpenters, carpets, cutlery,etc. Enjoy the good times and prepare for the bad at the same time. But be good to your clients and you can rely on return business and recommendation in the future.

AND can I just add that it is obvious that "One Flew Over the Cuckoos Nest" is the all time best Jack Nicholson film.

Re: You Can’t Handle the Truth!

Jamey Bridges — Thu, 28 Aug 2008 01:07:50 -0000

Jay, great post. I have to say that "A few Good Men" is one of my favorites as well :). Reactions such as "a agent" continue to surprise me, although I am not sure why at this point. For some people it will be the right time to sell (divorce, estate sale, etc) and for others it won't be. As true real estate professionals we have to provide advice to our clients with market conditions and allow them the opportunity to decide if they want to sell or not.
Just as an attorney can advise you NOT to go to court, but you decide you want to anyway, we must take the role of advice seriously for our clients. Even, if at the end of the day that means we don't get a commission, we have to put the client first.

Re: You Can’t Handle the Truth!

Lane Bailey — Wed, 27 Aug 2008 21:58:04 -0000

I get tired of that. It is a great time to sell... It is a lousy time to sell... It doesn't matter. Those are all true right now, and they are all false. It depends on the situation and the location and many other factors. There is no "perfect time to sell" or buy or anything else.

Too much NAR Kool-Aid kills more brain cells that booze.

Re: You Can’t Handle the Truth!

Tammy at Myrtle Beach Real Est — Wed, 27 Aug 2008 21:57:47 -0000

I hope your markets are picking up. Quite a few short sales and foreclosures. If you're not upfront and honest, eventually it will come back and bite you in the ass.

Re: You Can’t Handle the Truth!

Jay - The Phoenix Real Estate — Wed, 27 Aug 2008 19:35:14 -0000

Thanks for all the comments folks.

Sometimes it's difficult to imagine that there are folks out there that feel like "a agent". But they most certainly are. I've gotten comments, private emails and even a couple of phone calls for "being negative".

I've often thought about following up at a later point with those that make these comments to see just how well their real estate career is going.

Buyers and sellers are smarter than a lot of people give them credit for. I think they can see right through someone who "blows smoke". But it sure doesn't seem to stop it from happening...

@Greg - thanks for the YouTube link. That was a good one. It's difficult to have much sympathy for someone taking out a 3rd mortgage for a swimming pool. A *lot* of folks used their home as an ATM machine, which is crazy. You'd think an agent, who in theory is a little more connected to the real estate market, would know better.

Re: You Can’t Handle the Truth!

bad credit loans — Wed, 27 Aug 2008 17:07:14 -0000

Well, I am not here to judge or anything but looks like the agent who posted that comment is not happy... business-wise and that's probably because he is not being totally honest with his customers. You can't tell people "all is good", when it is not!

Re: You Can’t Handle the Truth!

TigerTom Loans — Wed, 27 Aug 2008 16:22:22 -0000

It's a recession. Sit it out, if you can.

Re: You Can’t Handle the Truth!

Susan — Wed, 27 Aug 2008 15:38:58 -0000

Jay, I have to agree with you on a few point...firstly, ...Jack Nicholson is the greatest!! ;)

To address the points here, I believe its important to be honest and upfront with clients and all people when discussing real estate or anything else for that matter. They have access to data and news media and are not stupid. Its obviously not the best time to sell right now and I think any agents that promote that it is make themselves look bad.

Re: You Can’t Handle the Truth!

Linsey — Wed, 27 Aug 2008 14:34:42 -0000

I'm a little astonished by the foolishness of the 'A agent' remark. Is this person assuming that if we (agents) deny the facts and the reality of the market conditions, consumers will just be begin to believe that this is a 'great time to sell'? This agents unwillingness to be frank and honest about the present market conditions may be the reason his remarks are filled with a sense of desparation.

I don't need to tell you Jay to continue to be frank and direct - your readership and warm consumer response already shows that it's exactly what people are looking for. I think 'A agent' is underestimating the intelligence of the consumer.

Re: You Can’t Handle the Truth!

Real Estate License — Wed, 27 Aug 2008 14:18:39 -0000

I would say that "A Agent" is trying to hard to hold on to a dream, but the bad news is that by closing your eyes and wishing the housing market better, won't make it any better.

At least maybe now "Agent" can start to accept the reality of the situation, good or bad, and find new ways to make real estate work for him/her. Time to get creative!

Re: You Can’t Handle the Truth!

Tucson Michael — Wed, 27 Aug 2008 12:58:50 -0000

I thought about this past statement by "A Agent" all day and after thinking about it, that's a lot of agents opinion of how they should act. "Tell clients what they want to hear regardless." I think a lot of agents hurt themselves by thinking they are doing what they should be by "selling their services regardless" all they end up doing is getting a for lack of better words a "used car salesman reputation". Then they are quickly washed out of the real estate business and doing something else.

Re: You Can’t Handle the Truth!

Julia Bridge Phoenix Real Esta — Wed, 27 Aug 2008 12:06:25 -0000

Desperation causes people to react crazy!
After listening to the "You tube "that Greg Bain (above) gave us...Agent A was probably feeling "desperate" in this market. He/She probably doesn't have a good support system or informational pipeline to help He/She to see the "truth"....Thank God He/She has found this blog...maybe now He/She will LEARN THE TRUTH!
Great quotes by the way Jay

Re: You Can’t Handle the Truth!

Croatia real estate — Wed, 27 Aug 2008 12:01:12 -0000

Well, maybe is not right time for selling house in USA, but it's for sure right time for selling house in Croatia. Prices are waaaay too high ... But as you said: some guys can’t handle the Truth.

Re: You Can’t Handle the Truth!

West Hampstead London — Wed, 27 Aug 2008 10:57:12 -0000

Does 'agent' think that homeowners and potential clients are really stupid? I hate it that agents are viewed as liars and cheats because of this sort of attitude.

Re: You Can’t Handle the Truth!

Brisbane Real Estate — Wed, 27 Aug 2008 09:05:53 -0000

Right, your honesty with your clients , straight forwardness and understand their priorities and interest of your client are the way to operate the business

Re: You Can’t Handle the Truth!

Rick NHS — Wed, 27 Aug 2008 02:19:03 -0000

Someone's been listening to the NAR too much! While I don't mean to insult the NAR (or Mr. Yun for that matter)... they've been doing a little bit of smoke blowing of their own as of late. Maybe "Agent's" market is ideal for selling right now.. I don't know, but I doubt it...

By telling your readers the facts, you're simply being a trust-worthy agent. If you were to tell your readers (or potential clients) that "now is the time to sell", in an effort to gain business... we would see right through you!

It's no mistake that you are one of (if not thee) most well-respected real estate agents in cyber-world... you "keep it real". Thanks for that!

Re: You Can’t Handle the Truth!

Gregory Bain — Tue, 26 Aug 2008 22:09:35 -0000

Jay, I think this is "a agent" unveiled:
http://www.youtube.com/watc...

our man Vance turned me on to it. Suze is just to nice with her.

Greg

Re: You Can’t Handle the Truth!

Cal Carter — Tue, 26 Aug 2008 21:15:19 -0000

Nice work as usual Jay! Probably one of those guys that was saying "they aren't making any more of it". It's the difference between "selling" and "consulting". Jeffry Gitomer say's people want to buy (could be your services), but they don't want to be sold. I am sure that the person given the advice that the market may be overbought or oversold appreciates the honesty and not only will seek out advice when the time is right, but more importantly will become a customer or client for life. Too many times people let their short sighted immediate gratification get in the way of a sound reality check and lose an almost guaranteed long term future of prosperity by not having a long term outlook.

Re: You Can’t Handle the Truth!

Charleston Real Estate Blog — Tue, 26 Aug 2008 20:11:54 -0000

In today's market, if you have to sell, sell cheap, buy cheaper.

If you don't have to sell, don't bother to list your home for sale, wait.

If you want to buy, be able to negotiate from a position of strength.

Jay, I'm glad you did a follow up post on "a agent"; the grammatical errors and misspellings are a poor reflection on real estate professionals who have our clients interests in mind rather than our own.

Re: You Can’t Handle the Truth!

Mortgage Samson — Tue, 26 Aug 2008 19:56:30 -0000

Ignorance is preferable to error, and he is less remote from the truth who believes nothing than he who believes what is wrong.
--Thomas Jefferson