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> as a real estate agent > now would be a great time to buy > might as well buy now Don't you have to say that? For you it's always a perfect time to buy (o

• poulsbohemian 4y ago
  There are a lot of really bad real estate agents, so I understand why you would feel this way. The good ones will act as trusted fiduciaries. Much of 2021 I was telling my investor clients to walk away from some of these houses that didn't make financial sense and to look in other places within our market. At the same time, I was advising my first-time buyers to get off the fence before rates went up and they got priced out of the market. Real estate is no different than any other asset class - there are going to be some products that make sense for some category of buyers, regardless of the bigger market picture. And, there are always going to be people who need to buy / sell for reasons where they don't get to choose their market (IE: mom passes away we need to sell her house, job change, divorce, etc) and it's my job to help get them the best possible outcome.
  • wrp 4y ago
    I'm guessing you are in the USA. How does one find an agent capable of giving more sophisticated advice on finances and the local market?
    • poulsbohemian 4y ago
      None of this is exactly rocket surgery, but here’s the gist of what I try to do when I need to refer a client to someone in another market… Try to understand their business. Every agent should be able to explain their niche within a market and their unique value proposition. This is a straightforward way to separate the professional agent from the “accidental” agent. Speaking candidly, there are a lot of people who fall into the business chasing dollars who have a very limited range of skills. Unfortunately, you can make it in a lot of markets on personality, even if your clients are getting utterly screwed on all the things that actually count, IE: pricing, overall market analysis, negotiating, understanding local regulations (zoning, water, environmental, etc). Listen to how they describe their market. I was talking to a “top performer” in my market the other day who was still regurgitating the same story from a year ago about “low inventory” when in fact there’s more inventory at every price point than at any time in the past three years. I’m certainly if I had decided to challenge their statements that they would have had no idea how many properties are on the market and that have taken price cuts in the past 30 days. A lot of those top performers are really good at churning deals rather than actually serving their clients. And, they may do a lot of business because they are willing to work for a low commission: if they won’t even fight for their own commission, why should you believe they are going to work hard at the negotiating table for you? Finally, find someone who communicates with you in the way and at the pace you want. If you find it difficult to talk with them and to express what you need / get the info you need, it’s only going to get worse when you are in the middle of a transaction. Hope that’s useful!