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Let's face it,
things are not looking rosy in the real estate industry at the
moment. If you're selling I'm not telling you anything you didn't
already know! The August numbers showing another jump in inventory
only reinforce the story.
There is no one
place to point the finger of blame on how we got here. And, in the
end, does it matter right now? It's time to figure out how to fix
this mess!
While there have
been lots of ideas floating around in the political realm and in
the economic world of the Fed, I'd like to talk a little about what
real estate agents can do to help.
I see plenty of
seminars for first time home buyers, working on educating them and
helping them buy their first house. There's nothing wrong with
that, but I think a bigger area of need right now is education for
the homeowner in trouble.
I'd like to see us
offering classes, in partnership with mortgage companies and
settlement companies, walking homeowners who have already missed
payments or those with mortgages about to adjust, through their
options. The vast majority of homeowners don't understand all the
options available to them and the pluses and minuses associated
with each one. We need to talk about short sales, deed in lieu of
foreclosure and foreclosure. People need to know what to
expect with each step of the process.
We are in a unique
position to help here. I realize that this is a for profit
business. And I know this sounds like a seminar that's unlikely to
produce much in the way of income. But I think we'd do our
profession a service. I also think you'd build long-term income
potential by helping people in a tight spot. Most of those people
will eventually buy another house. If you're there when they need
you, many of them will remember that.
When times are tough
we can show our character and step up and do the right thing. It's
good for everyone! And it can't hurt the reputation of real estate
agents either!
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