Only Realtors Have A Clue as to the Housing Crisis??

My preface to this post is a follow up on a Post by Mr Don Rodgers, an experienced veteran of many eras of Real Estate. He just put out a post against a certain reporter that claimed this is not a good time to be buying Real Estate, and that your home should not be considered an investment.

So I took the time to read the article, and while it was a bit slanted, the guy was doing what most reporters do, and that is to tell a story. Maybe not the whole story, but as written, I could not poke many holes in it.. Then a very well meaning person Named Melody replied to the post, stating that the reporter was not a Realtor or a Broker, and therefore could not have a clue to what he was talking about..

What did she say....Whom among us has not met a dumb ass Realtor, you know, the one who passed the test on thier 4th try and it was still close....Anyway..here is my opinion, I hope I don't get sued.

Dear Melody...Having a Realtor License is no guarantee of financial knowlege, just look around your own office, or any office. The vast majority of Realtors I have met, and I have met plenty, are strictly commision driven, with no real understanding beyond what they get if the house sells.'I do primarily commercial and investment properties, and I find Realtors in foreclosure at higher numbers than regular folks.

Brokers are known for listening to thier own sales talks and end up in the same boat. If we as Realtors practiced full disclosure, half our business would back up and wait for a better time to buy. The same Realtors who are out of business now are the same ones that were rushing thier customers to sign in the boom. Cash their commission check and then wait for the next fool to show up.

I personally have heard of agents changing thier phone numbers or moving as the homes they pushed their clients into at premium prices are dropping like a rock, and there is no one there to help them now. Most Realtors DID NOT educate the consumer as to what they were getting into, an as supposed proffessionals, bear a large part of the blame for allowing this mess to happen.

I am a Realtor, since 1992. I have bought and sold over a 100 of my OWN properties, not counting what I have done for clients. On the other hand, I regularly run into Realtors who cannot fill in basic paperwork, do math, or even do a HUD for their buyers to calculate the closing. I run into Supposed Commercial Realtors who cannot do any financial accounting, or pass off incorrect numbers as facts, when their sellers or buyers are supposed to be counting on thier abilities.

Lenn Harley and others here talk about the 80/20 rule in Real Estate. I think its much worse than that.