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You are playing word games to make you look like a better choice than all other agents.
I think everyone is WELL AWARE of the harm caused by pushing buyers into homes they cannot afford.
Saying, "What training do you have in creating buyer urgency?" is the most ridiculous thing I can imagine a potential buyer asking an agent. Get real.
Word games.
Quote:
Read the post again.
It says, "...'It's a great time to buy a home!' before they know anything about you..."
You disagree with THAT?
It was written in sincerity by a successful agent, yet you state any agent will say, "It's a great time to buy a home!"
Astounding!
And, I think I am not alone in my distaste for carnival antics to prod buyers' emotions to create buyer urgency. So I think buyers do have other choices.
If they choose me? Fine.
If they choose someone else? Fine.
Either way, I just hope they get good representation and are well guided.
It may be a great time to buy. Or not. That is a very personal determination. To vehemently spiel off "It's a great time to buy a home!" without knowing your intended "victim's" situation at all, just to pump up buyer urgency is a great disservice to many potential buyers.
You disagree with THAT?
Amazing.
National Association of Realtors will just love you to pieces.
"It's a great time to Buy!" End of story. No thought or consideration. Just push through to close.
Ouch.
Yep. NAR loves you.
Creating urgency to buy, where there is little or none, is a current trend in creating sales in a slower market, pushing folks into buying, without regard to buyer qualification.
The question is exceedingly relevant, because the classes are taught regularly and seminars are held, and webinars are promoted in creating buyer urgency.
Buyers should make their own decisions without undue duress from an agent, I think.
The response to that odd question may be very interesting, and may tell the prospective client a great deal about the agent.
No game.
I'm not saying everyone has to agree that it's a great time to buy.
But to somehow mark an agent as being BAD or unethical or unworthy because he or she offhandedly utters the phrase, "Now is a great time to buy" is totally, unequivocally ridiculous.
Lilworld wrote:
Quote:
I want a house, have the required down payment and more (30%+), have excellent credit and still do not think now is a great time to buy. It is slightly better than the 2004-2007 era when sellers had a great time, but that still doesn't make it a great time to buy. Sure, interest rates are low, but I don't see them going up anytime soon - if it did I'd be happy, some of my money in the bank which is doing nothing will start earning something.
Personally I believe, the triangle is not immune to the downturn (as so many on this forum claim). We also definitely had a bubble, a smaller one than CA maybe, but still definitely a bubble. I also see houses being listed for ridiculous prices - people seem to want a 5-20% appreciation post 2006 on home prices. Those prices will have to come down. We also see that unemployment in the triangle is increasing - how then can housing here sustain its prices?
Prices will have to go lower, interest rates will stay either were they are, or increase moderately (6 to 7%).
What the heck is going on with this thread. The OP asked an honest question and got some good feedback. Now we are headed down some silly rabbit hole.
To the OP, go with your plan of interviewing a few agents to see who you feel comfortable with. A good Agent will sit down with you and explain what representation means, what their duty is to you, and what your responsibilities are as well. I would strongly encourage you to consider adding the two RE agents who responded on the first page of this thread to your list of agents to interview. Skip the seminar, find a good agent who can teach you the ropes and you enjoy working with. Good luck!
You are playing word games to make you look like a better choice than all other agents.
I think everyone is WELL AWARE of the harm caused by pushing buyers into homes they cannot afford.
Saying, "What training do you have in creating buyer urgency?" is the most ridiculous thing I can imagine a potential buyer asking an agent. Get real.
Word games.
With your penchant for pushing for the sale, I would easily agree with you that I would be a better choice than you to counsel the OP regarding a real estate purchase.
No word games. "Games" connotes insincerity.
I believe what I have posted.
"It's a great time to buy!" is hackneyed and overworked.
No game.
I believe that statement.
Agents who spout off "It's a great time to buy!" to prospective buyers without learning any information or giving consideration regarding the Buyer's capability are possibly inept, or possibly unethical.
No game.
I believe it.
I hope the OP's choices are good and rewarding, and certainly wish the OP well.
And I hope she escapes the duress of outside pressure for urgency from people who need a pay day.
No game.
I mean it.
She indicated a desire to avoid high pressure. She got honest and sincere advice on how to help her avoid high pressure.
No game.
It is that simple.
I want a house, have the required down payment and more (30%+), have excellent credit and still do not think now is a great time to buy. It is slightly better than the 2004-2007 era when sellers had a great time, but that still doesn't make it a great time to buy. Sure, interest rates are low, but I don't see them going up anytime soon - if it did I'd be happy, some of my money in the bank which is doing nothing will start earning something.
Personally I believe, the triangle is not immune to the downturn (as so many on this forum claim). We also definitely had a bubble, a smaller one than CA maybe, but still definitely a bubble. I also see houses being listed for ridiculous prices - people seem to want a 5-20% appreciation post 2006 on home prices. Those prices will have to come down. We also see that unemployment in the triangle is increasing - how then can housing here sustain its prices?
Prices will have to go lower, interest rates will stay either were they are, or increase moderately (6 to 7%).
You speak too many absolutes. You may think some of that, but you don't know. It is a great time to buy for some but not for all. If you're looking long term it probably is a great time to buy. If you're looking for a 3-5 year home, not a first time buyer, and are in temporary location it probably isn't the time to buy.
Also, why do you think you'll make more money if interest rates go up as opposed to buying.
You speak too many absolutes. You may think some of that, but you don't know. It is a great time to buy for some but not for all. If you're looking long term it probably is a great time to buy. If you're looking for a 3-5 year home, not a first time buyer, and are in temporary location it probably isn't the time to buy.
Also, why do you think you'll make more money if interest rates go up as opposed to buying.
Brandon, with prices falling everywhere, it's a horrible time to buy. The only thing you need to know is that you won't get the unvarnished truth from agents.
A few hints. When the median home (price per square foot I guess) for sale is 3 times the median household income, that makes a bit more sense.
You are talking about when it's a good time to buy based on median price but you're not even sure what median price is.
Quote:
Originally Posted by telemonster
When people think it's a bad idea to buy a house, that's a good time.
So you've said it's not a good time to buy, so does that mean it is actually a good time to buy?
Quote:
Originally Posted by telemonster
The idea of low interest rates making it a good time to buy is a total fallacy. Real Estate agents and brokers say this stuff, and it's absolutely dumb. If the interest rates are high, then to sell a house the principal amount will have to come down. So if you have a 2% interest rate and can buy a house for $350,000, or a 10% interest rate and the same house is on the market for $190,000... then B is better. You get to write off more interest payments on your taxes. You get to pay off the house early if you wish (pay a little extra, and really own it sooner!). And there is hope that interest rates will go down. On top of this, for those that have savings, they actually earn a return on their money.
You are making the assumption and price and interest rates are dependant on each other, but this is incorrect. If home prices remain stable and rates go down, it is a good time to buy because you will have lower payments and less interest to pay. The buyer could just as easily use the extra money to pay the principal balance down.
Quote:
Originally Posted by telemonster
There is NO REASON that low interest rates and record high prices are good for buyers. It's only good for Real Estate agents (new and used home salespeople) in terms of their commissions. Realtors have a low barrier of entry. They are NOT financial advisers. They are sales people. DO NOT TRUST THEM! I'm sorry, but the marketing from the NAR And other trade associations has painted a picture like your realtor is some sort of financial adviser. If real financial advisers gave the advice that Realtors give, they'd loose their license, be banned from the industry, and perhaps in jail.
So you think low rates and prices that have adjusted downward are bad for buyers? Uhh, the financial advisors that told people to invest in RE or the stock market...are you saying they don't exist? Or if they did they have lost licenses and been put in jail? Do you even know what a Realtors job is? Because last time I checked nobody ever bought a house they didn't want because of the Realtor. I wish I had some Realtor Mind Tricks like that. "Buyer, this is the house you're looking for!" (while waving my hand in front of their face)
Give me a break. I singled out your post because it is rife with misinformation. It may or may not be the right time to buy a home but if you're going to give advice you'd better at least have a clue what you're talking about.
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