Sometimes I feel as if my buyers and/or sellers do not “hear” me. Okay, most of the 
time I feel that way! They hire me to do a job, but - after speaking with their friends, with neighbors, with, who knows? they suddenly are experts at “my” job.
In today’s Phoenix, Arizona market – now, especially – sellers and buyers MUST pay 
attention to the advice and counsel offered by their Realtors. The Realtor, after all, is the one that has the education, the knowledge of the market, and the wherewith all to give that counsel and advice. “They” are the expert – generally not the home buyer nor the home seller.
I know that all of us encounter this type of issue, and these days, it is especially important for buyers and sellers to counsel with their Realtor. Realtors don’t typically have a crystal ball, and cannot tell you if the market has topped out or bottomed out, but we can see what the market in your area is doing, and we know that short sales and bank owned pretty much rule the MLS in most parts of our country.
One suggestion to sellers: if your agent suggests a listing price, staging 
strategies – and you really want to sell your home – then seriously consider his/her suggestion. He or she is looking out for you!!!! Otherwise, as the market goes down, your value goes down, and you’ll have a hard time catching up. The appraisals of your home are based on the sales of the REO’s and the short sales - AND you will have missed those potential buyers.
A suggestion to buyers: if you want to purchase a bank owned (REO) or a short-sale – BE PREPARED!!! You will more than likely be waiting for weeks, even months, for the close of escrow. There are myriad things that hang up these types of purchases. Gone, at least for the moment, are the days of: I make an offer, it gets accepted or rejected in four hours, and within a day or two, we now have opened escrow. Then, we actually close escrow and move into our new home within 30 days of the offer.
That said, from what I’m seeing, and remember “I” am the Realtor, our inventory is dropping at a rapid pace. That could be because lenders have been holding back from foreclosures, but ask yourself: when will you find a better interest rate? When will you be able to purchase homes for 70, 80, 100, thousand dollars again? Homes ARE selling, and people ARE buying.
AND investors and cash buyers have jumped into the frey….that should definitely be an indication, perhaps, that now is a good time to be considering a purchase of real estate!
Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, ServingMesaArizona, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: MesaAzRealEstateVoice; or Phoenix Valley Real Estate Blog
Mesa, Arizona Real Estate. Call me at: 480.382-8711 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit my website: HomesAzRE.com, or stop by my blogs at: MesaAzRealEstateVoice and AzLadyInRed!
Teri, you hit this one right on the mark!
Teri - This is a perfectly timed post with all that we are facing in today's market with both buyers and sellers.
They hire me to do a job, but - after speaking with their friends, with neighbors, with, who knows? they suddenly are experts at “my” job.
This was my favorite part of your post! :)
Teri - oh, yes, suddenly everybody becomes the expert. Just recently we were asked about by our buyers if they could get in a great deal on a bank owned homes - meaning a huge price reduction. They were pretty suprised to find out that most of the houses sell for close to asking price and not 50% off (as their expert friends had told them). ~Rita
Teri
Sometimes I have to bite my tongue when I talk with clients. I think it is going to take off , and when it does i think we will all be really busy again.
Sincerely
Tom Braatz
David, thanks...;-)
Donna, yep, that was my main point. ;-)
Rita, well, those "experts" will learn how it really is, won't they? ;-)
Tom, meeeeeeeeee toooooooooo....so, instead, I just write a blog post. I agree - we're starting to see quite a lot of action now. ;-)
The media makes it seem easy to purchase a REO property and the self proclaimed "expert" just makes it harder.
Right you are, Teri! One of my clients emailed me tonight and said, "We had no idea this market was so volatile! When can we get together so you can advise us on the best strategy?" We're here to advise and consult, but if our clients won't listen, then they really do stand to lose a LOT. Keep on preaching, Teri! ;-)
Well written Teri. You have no idea of how many times I have said this lately.
Hi Teri,
Yelp! That's how we feel at times.
Well, I totally agree with what you have said. Some would rather have their ears tickled to hear what they want to hear rather than the truth. Oh my...those that listen sell. Those that don't I see their homes sit, sit, sit.
Leolinda, you are right....it makes it much more difficult these days. ;-)
Randy, amazing they didn't realize that the market is so crazy....guess we'll have to educate them better.
Zikia, I'm sure it's happening everywhere!
Cynthia, much of the time...for me.
Missy, right one....when they finally DO listen, then that window has passed them by. ;-)
Hi Teri,
I have this problem with some of my sellers, they like to be "stroked" as I say. They want to be comforted and I have no problem doing it, but I will not lie about the market. If there house isn't the very best house in there price range, it's our job to make suggestions to be that best house. Your post is right on, and I enjoyed reading it. Let's just hope those consumers reading your post take it to heart.
-Lisa
Some how they think a fast sale is a sale price that is too low. Then after a few months they want it sold now and it is a low price.
Teri - This is a timely post not just for your area. We all seem to encounter this issue daily, I just worked with someone who did not listen to one thing I said, of course the deal fell apart.
Well Said Teri, the myth is that most buyers think REOs are like 75% off when reality its almost the same as regular price, leave the real estate advice to the experts I say :-)
2 of my other Realtor friends and I were talking the other day and we feel like some of the sellers in our market are just now beginning to realize it's a buyer's market. I have been preaching the same thing over and over again with little effect about the market, but now that someone says it on facebook, then they realize it!
Lisa, you're right about that, and that's okay - but listen to what I tell you....;-)
Terry, exactly my point. ;-)
Jennifer, isn't that frustrating? I suppose purchasing a home is such a huge deal, or selling one, that they think they know best. In this market - especially -BAD idea. ;-)
Justin, that's true....sellers ARE starting to be more realistic....why purchase a REO or short sale when you can purchase from a REAL seller..negotiate with THEM!! ;-)
Sandy, wherever they hear it...glad they're finally getting it. ;-)
This is a great post and so true! I tell people if I were to come in to your work with suggestions from a friend and told you how to do your job, what would you think?
Todd, thanks...and yes, it is true. Today I worked with an out of state buyer, but his friend did most of the speaking. I like your idea....;-)