Are we there yet?

Real Estate Education Training

Has the Housing Industry recovered?

Most parents are very familiar with this question which is often asked while driving long distance with their kids.  We try to sound encouraging with comments like "it's just a little bit further, it's only a few more miles or we will stop for food or drinks real soon".   We know that everyone is ready to get the trip done and get on with the fun at the end of the travel.  It is also a very draining drive for the one behind the wheel with the very important task of watching traffic, attempting to sit in one spot for hours and keeping every one's spirits up while contemplating the estimated time left on the journey.  Anxiety does not reduce the miles or shorten the journey.

Our housing industry has been the topic of discussion during many visits with family and friends.  Their "are we there yet" questions are filled with anxiety about being underwater on their mortgages.  They are also getting conflicting reports of doom, gloom and encouragement from multiple sources with intentions that may not be in the consumers best interest.  Lenders looking to  refinance and/or do reverse mortgages, agents seeking listings and third party aggregators working to corner the various markets to increase revenue from advertisers, etc. 

Most of us in the industry have access to the better and more accurate indicators (Active Listings, Pending/Closed Sales, Expired Listings and more).  I am always a bit irritated when I notice that my Listings which have been Sold and Closed for months are still showing as Active by these groups on their web sites.  It is also a challenge when I receive a call from a serious buyer asking to see the "Active Listing" several weeks or months after closing.  Some will argue that it must be available because they just saw it on this or that web site.  I first have to reassure the buyer that I am not trying to keep them from seeing and making an offer. I then attempt to educate them on the California Regional Multiple Listing Service (CRMLS) systems multiple daily updates as opposed to the web site that they saw the "Active or Available" post.  Some are battle weary from being in the trenches for months attempting to buy a home where the "low inventory" has forced them to tour scores of homes and make multiple offers without success.  These folks are ready for hand to hand combat and some are moving towards depression when their "got to move soon" clock is ticking louder by the week. 

I very carefully ask if they are working with a Realtor.  Most are.  The ones that are not working with a Realtor with CRMLS access are the ones that require the most patience.  They have many reasons but a resounding one is that they "do not want to be locked down and called by an agent all the time"  They would rather just check online with a web site of their choice and just call when they see something they like.  I just love that one!  I then will slowly build my understanding of their position and might even share a personal experience with calls from professionals in other industries where I thought it a bit over the top.  I then share with them the benefits of working with a Realtor with access to CRMLS.  I often recommend me.   I tell the buyer how I am willing to work with their expressed housing requirements. I also tell them about the tools offered by a Realtor with CRMLS assess that allow the buyer to control the process.  They love it!  Telling them what a Realtor can accomplish with CRMLS sells itself. 

What I believe is the most beneficial answer to the "are we there yet" and other industry questions is affording the consumer access to "timely and accurate information"    Most are hearing or reading housing reports that are being regurgitated from folks outside the Realtor and/or CRMLS ranks.  This data is seldom recent and could be inaccurate on close review.  I also take the opportunity to use an old hunting comment of "you eat what you kill"   I emphasize that I am a full time Realtor and only get paid at close of escrow.  I do not receive referrals or a good reputation for service by providing inaccurate or misleading information to clients.  I do not get paid by advertisers paying for access to my web site to increase their exposure to my client base. 

Like my fellow Realtors, I will provide my clients with access to the timely and accurate information and allow them to determine if we are there yet.

Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 (Cell)
www.miketeer.com
ProbateSoCal@gmail.com

CalBRE#: 01523582/00843708