Matthew Ferrara, Philosopher

Archive for September, 2008

Here’s an idea that should appeal to all REALTOR entrepreneurs: Rather than waiting for a pile of money to fall from the sky, why not grow your way out of these tough times? It’s decision time now – and I don’t mean the election: Are you going to just sit there and let your company go bust? You probably don’t have enough cash to keep waiting it out – so pull your head out of the sand, shake off the panic and go do what you do best: Sell homes. Help buyers. Grow your sales. If you don’t know where  Read more

Only in the United States Congress can a plan to destroy the housing industry and credit markets be called a “rescue” plan. It’s almost as farcical as callingĀ  “card check” bill that effectively kills secret voting for unions a “secret ballot bill.” Far more troubling, however, is the fact that the elements of the plan are laid out – in plain sight – for everyone to see and think about. Why, then, does the real estate industry and average homeowner, not see the danger?

If you think it’s hard to sell real estate in America today, take a lesson from the Continent. After spending four days with the Leading Real Estate Companies of the World in Rome, it’s become pretty clear that most American real estate agents have it “too easy.” Just try running your business when selling homes with “verbal commitments that are binding but broken without cause or recourse” and “you have six months to close” is the norm. It’s about time American REALTORS figured out just how good they really have it.

For some months, REALTORS have been fretting that buyers are “sitting on the sidelines” waiting for the market to “hit the bottom.” We constantly hear news reports with interviews of “savvy” sellers who are trying to “time the market just right” to get the most for their home’s sale while getting a “bargain” for their next home. Timing the market – to sell high, and buy cheap – is a strategy for buying and selling stocks or bonds. But when it comes to housing, it’s the entirely wrong market model. It’s time REALTORS started saying so.