Realtors: Which Is It? (venting, agent, mortgage, fees)

[Bill Keegan]

Originally Posted by rubber_factory

I think your careers are more dependent upon the barrier-to-entry that the NAR/MLS provides you.

What does that mean? What barrier to entry does either the MLS or the NAR provide?

[SVTLightning]

Even realtors cannot agree! lol So is Belinda right? That seasoned Realtors have a long term view and this is a good time to buy, or is M-A-M right by not advocating that now is a good time to buy???

Originally Posted by Belinda5

To be honest, many Realtors are struggling now, with the same question you posted here. However, the seasoned Realtors who survived previous recessions will have the 'long term' view that this market is a good time to buy.

Originally Posted by middle-aged mom

I do not advocate that now is a good time to buy, for everyone. I am far more inclined to recommend that those sellers who do not have to sell and are not willing to do so at what the m,market will bear, withdraw from the market.

[atlbravo]

I think the answer is obvious. We have to add "Depending on your individual circumstance" to blanket statements like "Now is a good time to buy/sell".

[rubber_factory]

Originally Posted by Bill Keegan

What does that mean? What barrier to entry does either the MLS or the NAR provide?

Well, I'd say that requiring a person to be a dues-paying NAR member in order to fully access information in the MLS database is one significant barrier to entry. In my mind, the primary purpose behind professional organizations like the AICPA, the NAR, or the ABA is to ensure the scarcity and information asymmetry of its members.

Of course, you also have lobbying, advertising, and marketing. I mean, hell, somebody had to come up with all these stock answers that below-average agents all seem to repeat. Surely they didn't all come to the same conclusions independently of one another.

[Silverfall]

Originally Posted by chesapeakesim

To all realtors,

I have seen your ads that state that now is the perfect time to buy a home and that people had better buy before prices go up.

Then at the same time I read articles saying that the NAR is pushing to extend the housing tax credit cause without it the market will tank and house prices will plummet.

So which is it? If the housing market is strong enough for you to recommend buying, it should not matter if the government provides a stimulus. But if the market is so down that without a government hand out prices will fall through the roof, then you should not be recommending anyone to buy at this point.

Can someone please explain how you can support both positions at once?

I'm not a REALTOR, just a real estate agent, but in defense of REALTORS...

First of all you need to not generalize that what NAR says and promotes is reflective of all REALTORS. Some agents love the "its a good time to buy" campaign and some cringe at it. So, your question really should be directed at the leadership of the NAR, rather than the members. The members have little control over what the NAR says and promotes. It's a powerful organization.

Second, if you can get an REO at a great price and get $8,000 back to replace the nasty carpet...then it is a good time to buy for you. That tax credit is icing on the cake for many home buyers.

Third, not everyone can be a homeowner, nor should they be. Whether or not home ownership is for someone is a matter of personal finances and preferences. Some people love renting and that is totally fine.

In some parts of the country it's a great time to buy, and in other parts maybe not. The NAR is not an objective, non-biased organization. I'm not sure why people think it is or should function that way. I think MAM's analogy of the NRA is a great one. I mean if I was looking for information about the dangers of gun ownership I certainly wouldn't be looking to the NRA for that information.

[Belinda5]

Originally Posted by SVTLightning

Even realtors cannot agree! lol So is Belinda right? That seasoned Realtors have a long term view and this is a good time to buy, or is M-A-M right by not advocating that now is a good time to buy???

Re-read both posts and you should find that there is no contradiction between M-A-M's and my view."

M-A-M is saying it is not a sellers market, so don't sell if you don't need to (I agree) and that it is not a "buyers" market for everyone (I agree). For that matter, it is never is a buyer's market for "everyone" at any time.

BUT, if you are able to buy and need a place to live, you will never win trying to "time the market". It's better to buy in a "buyer's market" than in a "peak" market.

My suggestion: Talk to three Realtors in your area and have them give you their opinion based on your personal goals, ability to buy and your particular market. (Good Realtors only "work" with pre-qualified buyers who are ready to buy. If you are not ready, or able to buy, a Realtor will honestly advise you and perhaps develop a long term relationship, guiding you until you are ready)

Like many have said here, one size does not fit all, and home ownership is not for everyone. If you must try to time the market to any degree, then the best time to buy is during a slow market, with low interest rates and an incentive to boot. No one can promise you anything more.

[stosh]

Originally Posted by chesapeakesim

To all realtors,

I have seen your ads that state that now is the perfect time to buy a home and that people had better buy before prices go up.

Then at the same time I read articles saying that the NAR is pushing to extend the housing tax credit cause without it the market will tank and house prices will plummet.

So which is it? If the housing market is strong enough for you to recommend buying, it should not matter if the government provides a stimulus. But if the market is so down that without a government hand out prices will fall through the roof, then you should not be recommending anyone to buy at this point.

Can someone please explain how you can support both positions at once?

This is a very difficult question to say the least.

So far there are 15 or so responses and no one yet has answered the OP's question.

I don't believe it is a rhetorical question.

[bowian]

It's a good time to buy if you have the means, the credit and no property to sell first (or a property that you can price to sell quickly). It's a good time to buy if you can keep your current house, rent it and buy the next house to live in. If you're willing to buy now even though your home's value may drop further, it's a good time to buy.

It's not a good time to buy if you need to sell first and you can't (or won't) be flexible with the asking price. It's not a good time to buy if you're buying into some large, new housing development where sales are crawling and build-out is nowhere in sight (and that's the only kind of neighborhood you want).

I guess it depends on your personal situation in addition to the market condition, no? I suppose that any market condition can work out well for someone.

It's a bad time right now for many if not most people, but you can't say that it's boring.

[Silverfall]

Originally Posted by stosh

This is a very difficult question to say the least.

So far there are 15 or so responses and no one yet has answered the OP's question.

I don't believe it is a rhetorical question.

The OP asks to ALL Realtors...

All Realtors don't say that. It is the leadership of the NAR that is promoting the contradicting information, not its individual members. It seems better posed to ask those folks why they think it's okay.

The OP is asking real estate agents that are REALTORS to defend a position they may not take. The REALTORS on this forum are a solid group of agents who think through each situation individually because that is in the best interest of consumers.

It's a great time to buy for some people and not for others. The real estate market will continue to tank in some areas and not others. Life doesn't exist in terms of black and white....lots of grays in the real estate world.

I mean seriously, should the NAR slogan be "It's a great time to buy in Keizer Oregon because it appears that the market is skidding on the bottom and we only have 5 months inventory, but in wherever California don't buy because we think it may still correct there more, unless you get a killer deal on an REO or short sale, then buy!"

[middle-aged mom]

Originally Posted by SVTLightning

Even realtors cannot agree! lol

So is Belinda right? That seasoned Realtors have a long term view and this is a good time to buy, or is M-A-M right by not advocating that now is a good time to buy???

Do more than 1 million X agree on anything?

I work with real people and each of them have different moivations, needs, wants and recources. Buying now makes sense for some and not for others. Same for selling now.