{"id":1656,"date":"2007-07-14T08:56:17","date_gmt":"2007-07-14T15:56:17","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1656"},"modified":"2007-07-14T08:56:17","modified_gmt":"2007-07-14T15:56:17","slug":"fear-factor-who-makes-a-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1656\/fear-factor-who-makes-a-real-estate-market\/","title":{"rendered":"Fear Factor – Who Makes a Real Estate Market?"},"content":{"rendered":"

What factors contribute to price declines in a downward trending market? Interest rates, affordability, demand, and consumer confidence to name a few. Today, I have a new one: Crappy agents.<\/p>\n

My beef of the week is the confidence crisis I see among agents, at least in my local market, and there are two camps cast in our realty reality version of Fear Factor.<\/p>\n

“We fear things in proportion to our ignorance of them”. Titus Livius<\/em><\/strong><\/p>\n

First, there are the newer agents who haven’t experienced anything but a flying-off-the-shelf listing environment. Their training and mentoring has been focused entirely on getting the listing, the listing being the Holy Grail of real estate. Listings are King, they are told, and once that listing is secured, the check is in the bank. And the future checks are just around the corner. Use the listing to populate your marketing copy, snag those sign calls, and spawn new listings. Keep the car warmed up, because off to the bank you will again be – very, very soon.<\/p>\n

“The greatest mistake you can make in life is to be continually fearing that you will make one”. Elbert Hubbard<\/em><\/strong><\/p>\n

Even veteran agents have seemingly forgotten that markets change, and with that, our approaches to the business need to adapt. Speedy-quick contracts, contracts proferred and negotiated without breaking a sweat, contracts which are all but guaranteed to make their way to the County Recorder’s office in 30 days with narry a hiccup, are a thing of the past. Unlike the new agent, they once lived a time when the hard part wasn’t “winning the listing”, but when the real work ensued once the contract was inked. Many seem to have forgotten.<\/p>\n

Listings are becoming a dime a dozen, and it’s what you do with the listing and the trust the client has placed in you that now separates the men from the boys, the “salesmen” from the “professionals”. What does it take for an agent to successfully represent a seller today? Hard work, time (a lot), money (a boatload), and patience. <\/p>\n

“Time is money”. Benjamin Franklin<\/em><\/strong><\/p>\n

I often tell sellers that I don’t make the market; Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What factors contribute to price declines in a downward trending market? Interest rates, affordability, demand, and consumer confidence to name a few. Today, I have a new one: Crappy agents. My beef of the week is the confidence crisis I see among agents, at least in my local market, and there are two camps cast […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1656","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":236,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/236\/how-to-exterminate-a-cowbird-a-comedy-in-three-acts\/","url_meta":{"origin":1656,"position":0},"title":"How to exterminate a cowbird — a comedy in three acts . . .","author":"Greg Swann","date":"August 23, 2006","format":false,"excerpt":"Act I -- Why Realtors hate discount listings... People think ordinary on-the-ground Realtors hate discount listings because of the discount. That's may be true of many real estate brokers, but real-life Realtors have two much better reasons to hate discount listings. First, the Buyer's Agent will have to do all\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2202,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2202\/a-consumers-guide-to-the-divorced-real-estate-commission-cataloging-benefits-starting-with-a-complete-catalog-of-available-homes\/","url_meta":{"origin":1656,"position":1},"title":"A consumer’s guide to the divorced real estate commission: Cataloging benefits — starting with a complete catalog of available homes","author":"Greg Swann","date":"November 10, 2007","format":false,"excerpt":"Part IV: Divorcing the real estate commissions will result in benefits not just for buyers but also for their agents and for the real estate market as a whole The National Association of Realtors is embroiled right now in a protracted anti-trust suit brought by the United States Department of\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2518,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2518\/net-borne-buyers-create-new-burdens-for-listing-agents\/","url_meta":{"origin":1656,"position":2},"title":"Net-borne buyers create new burdens for listing agents","author":"Greg Swann","date":"January 19, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Net-borne buyers create new burdens for listing agents \"Eighty percent of buyers start their home search on the internet.\" You don't have to dig too deeply in the real estate world to unearth that statistic. There are\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1706,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1706\/by-owner-home-seller-is-no-match-for-a-skilled-listing-agent\/","url_meta":{"origin":1656,"position":3},"title":"By-owner home seller is no match for a skilled listing agent","author":"Greg Swann","date":"July 29, 2007","format":false,"excerpt":"This is me in Friday's Arizona Republic (permanent link): \u00a0By-owner home seller is no match for a skilled listing agent We're about to list a home for sale in a fairly pricey neighborhood, so we are very aware of our competition. We knew a similar home was ready to go\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2179,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2179\/a-consumers-guide-to-the-divorced-real-estate-commission-why-buyers-and-sellers-each-paying-for-their-own-representation-is-the-most-significant-reform-that-can-be-made-today-in-residential-real-estat\/","url_meta":{"origin":1656,"position":4},"title":"A consumer’s guide to the divorced real estate commission: Why buyers and sellers each paying for their own representation is the most significant reform that can be made today in residential real estate","author":"Greg Swann","date":"November 7, 2007","format":false,"excerpt":"Part I: How we got into this mess in the first place Can we be straight with each other? I'm not a soft and subtle kind of guy, and my working assumption is that you are sick to death of being hustled -- handled -- lied to. We yammer all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":613,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/613\/a-horrifying-thought-experiment-elaborating-on-a-brokerage-business-model-that-could-completely-disintermediate-buyers-agents\/","url_meta":{"origin":1656,"position":5},"title":"A horrifying thought experiment: Elaborating on a brokerage business model that could completely disintermediate buyer’s agents . . .","author":"Greg Swann","date":"November 7, 2006","format":false,"excerpt":"I wrote this this morning, and it's been bugging me all day:Here's a thought: The $99 divorce. It only works where the split is unclouded by children or property. But imagine a $999 FSBO package: The usual MLS-only marketing package with a buy-back guarantee for the buyer. Quoting me: \"From\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1656"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1656\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}