Listen but don't panic
The National Association of Realtors has lost a great deal of credibility when it comes to making forecasts and maybe the beginning of this disturbing trend started back at the beginning of this downturn (August 2005) when their chief economist at the time, David Lereah said, “All of the doom and gloom forecasts of a housing debacle are not only irresponsible, but also downright wrong.” There is a great deal of good work being done by the NAR but, in my opinion they should exit the forecast and “spin” business and concentrate on helping to improve the image of Realtors.
On the other hand, after two plus years of downward real estate trends, there are now industry professionals who have gone in the other direction and seem to pride themselves on how “gloomy” they can make the market appear. I didn’t attend but got a report from a title company sales officer that Mike Lyon of Lyon Real Estate made such a “gloom and doom” forecast yesterday in Roseville. My contact is a sale person; he makes his living selling his company’s service to real estate agents. He told me the Lyon talk was so depressing he had to leave.
I know there are agents out there who are struggling with this slower market and new agents who are just starting to build their business. I encourage you to listen and pay attention to what is happening in the market, you will need this information to best serve your clients but do NOT let it chase you away. It is only one of many variables that will determine your success or failure in this industry. I encourage you to listen and pay attention to what is happening in the market, you will need this information to best serve your clients but do NOT let it chase you away.
The real estate market is the real estate market. It can be like it was in the early 2000’s or like it is now. Regardless there will always be buyers and sellers who need your experience and expertise. Today there are fewer sales which only mean the competition for those transactions is higher. Good Realtors who manage their business by placing their clients’ needs ahead of their commissions and build long term relationships will always be successful.
posted by Julie Jalone @ 9:23 AM
4 comments
4 Comments:
Mike Lyon is one of the most experienced people around. Avoid his advice at your peril.
Julie, are you telling us that NAR, in your opinion, has *some* credibility left? On what points does NAR retain credibility?
Hello seneca21....I appreciate your comment and had debated using Mike Lyon's name in the post becasue, like you, I have a good deal of respect for Mike and Lyon Real Estate. My time with his company was very beneficial for me. In the end I thought since my source for the story mentioned Mike by name that it added some truth to the point I was trying to make.
I just think you have to understand your audience when you are delivering such a negative message. I wasn't there and my source left before his comments were complete so he may have added that Realtors and other professionals can make it through these difficult times....
Jeremiah - LOL, I can see your point!
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