Time to cheer up your local realtor
When even your friendly local real estate agent is down in the dumps, you know these really are tough times.
That’s my take on the results of an annual survey of real estate folks from across New England by Winchester-based Rexer Analytics.
Back in April, 31 percent of those surveyed – roughly 200 with at least two years of experience – reported being “completely satisfied.’’
Not bad for any business, especially one where sales are dropping. I mean I can’t imagine 31 percent of any newsroom ever being “completely satisfied.’’ Maybe try 3 percent.
But throw in a recession and a global financial crisis, and six months later the number of those reporting to be in the equivalent of real estate heaven had dwindled to 13 percent.
Meanwhile, the number of real estate agents who reported being “completely dissatisfied’’ more than tripled, from a mere 7 percent to 24 percent.
Roughly half of those surveyed made less than $40,000 in the previous year, while about a quarter made more than $80,000.
But true to form, most agents haven’t lost that indomitable optimism that seems to be a prerequisite for working in the field.
More than a quarter of agents surveyed said they felt the coming year would be better than average. And more than 90 percent said they planned to stay in the field over the next two years.
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Well, I guess I am in that 13 percent. I can imagine that it is tough, especially for suburban agents that rely on transaction price rather than volume to generate income. Here in the city we are seeing more business than usual at this time of year. This is a combination of interest rates being low still and a flood of investors that rather purchase an income property than invest in the stock market. Rentals are also busier than usual.
While it is self-serving, I find that report full of promise and hope. It means that the sub-par agents and part-time agents will be throwing in the towel. This means more business for us and we will have a better pool of agents to work with. I'm tired of working with inexperienced agents that don't care. Now if we can just get the bad agents handling foreclosures 50 miles away to get a clue we will be golden.
You're not asking us to be sympathetic are you? They knew, when they signed up for this job, that real estate is cyclic.
Julio.
It's probably not the right time to give up on being sympathetic towards other people.
Go read the Herald.
NF said: "I'm tired of working with inexperienced agents that don't care. "
I recently bought a condo in Boston. My experience was just the opposite. I found the Real Estate Agents who work in the city to be arrogant and apathetic. My agent from the suburb worked harder and had to do all the work the city agents were too lazy to do.
Yoo hoo! It's me again! I'm back!
And I'm here to report the good news about the city center Boston condo market is alive and well and we're doing just fine here! As my colleague NF reports above, things are going swimmingly in the highly desireable downtown Boston nabes where everyone with a brain prefers to live. Demand is infinite and unquencheable. Count me in with the 13%!
My only complaint? There aren't ENOUGH listings to satisfy the endless demand! While the stock markets plummet, investors in the know are eagerly seeking solid investments in tangible assets in blue chip neighborhoods like the Back Bay, South End and Beacon Hill. And who can blame them? While the real estate markets crumble in the undesireable suburbs, downtown we're seeing things holding steady or increasing. No end to the good news here.
Mark me down as 110% satisfied!
I guess we've come full circle. Realtors who sold overpriced properties to the public based upon the promise of never-ending appreciation and creation of wealth without work are now complaining that the financial crisis resulting from their previous conduct is making it too hard for them to do their jobs. Ironic, no?
I have no sympathy for "Used House Salespeople", most of them will say anything to close a sale.
Hey Sunshine,
Thanks for the comic relief. A few years ago your comments would've been taken seriously by all the speculators (gamblers). Keep those postings on file for the next bubble!
Sorry Guy you had a bad experience and you illustrate my point. I can't wait until those agents are shaken out of the industry. I'm glad to hear that you found an agent that knew the city well and fit your needs. City or suburban, there are some great agents out there, I hope they stay in the business and the rest go somewhere else.
Even with all the negativity on this blog, I am still optimistic. Why? I love what I do. Everything I do, I do with integrity. I go to sleep knowing I did a great job and my clients consistently give me good reviews. I hope everyone can find a career that gives them the same.
Although there are some sketchy realtors out there there are good ones too, and I think it's a little unfair to speak so negetively about them regarding the real estate bubble. You can't blame realtors for the fact that consumers overpaid (or paid market) for properties. Even when realtors begin bidding wars or say things to prospective buyers to bump up the offer price, they're doing the job they were hired to do (although of course there are exceptions - there always are). Ultimately it is the buyer/seller's decision to take it or leave it. I work in commercial real estate, which has also been affected by the upturn/downturn of the market, and we don't blame the brokers (who are even more involved in pricing the real estate). It's the buyers and slelers who determine the market.
From the consistent commentary here of over a year, Sunshine appears to be a real live city of Boston Realtor.
Though the thought that its comedy is understandable. I thought so a year ago.
Most realtors deserve a good kick in the giblets....
S&L keeps it amusing. I can't question what she says because I've never considered Back Bay, the South End, and Beacon Hill. All City of Boston schools, that's all I need to know.
Reading these posts, some from Realtors (I'm one) and some from the public firms up what I have thought all along, no one wants to take responsibilty for their actions. So you bought more home than you could afford, blame it on the Realtor. 5 yrs ago when everything WE BOTH touched turned to gold it wasn't the case.
Funny none of my clients in 11 yrs have been foreclosed on.
This blogger might want to review your comment before posting it.
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