Life's Armchair Quarterbacks

Ever notice when you face a crisis or important decision you're suddenly surrounded by "experts"? I once heard a saying, I don't remember where I heard it, but it said, "armchair quarterbacks never throw interceptions" Of course they never throw touchdowns either. I've done a lot of teaching and training in my career and I always had one rule for what I taught. Either I've used what I said and it worked, or I learned it from someone else who used it, and it worked. The important thing is, somewhere it worked. I have never taught, nor will I ever, from the hip. So let's look at some scenarios where our friends the ACQ's come out.

If you're an agent, they're the coffee drinkers with all the designations and no sales. (In some cases they don't even have the designations) They would have sales but times are tough, the rates aren't the best, inventory is too high, consumer confidence is down, etc etc etc. Then there are the agents who are too dumb to listen to the experts. They're too busy listing and selling in spite of the conditions. (Whatever they are at the time)

AND...even though I got trashed the last time I said this, let's not forget the media. Daily there is misinformation given out about loan programs, credit availability, market conditions and more. Who is giving this sage advice? People who have never sold any homes, written any loans or inspected any houses. You know the drill. The sad thing is, many Americans believe them and, as a result, miss out on some great opportunities.

Not long ago, I heard some advice for those of you in the stock market. It went something like this. The market is down so get out while you can. Now let me think about that. Long term, the market historically recovers. So let's sell now while things are low and then get back in when things are better. That way you not only have the loss the market imposed. You also just bought stock for $100 that you sold for $25. No further comment necessary.

How about you buyers and sellers out there. Do you have family experts? First let me say that, if you do, they love you and mean well. Unfortunately all that emotion poured out to you doesn't mean they're right. I think every Realtor out there who has been in this business any length of time has stories about the caring parent, uncle, cousin etc. who inspired you to make that low offer that insulted the seller and now the seller wouldn't negotiate with you if you were the last person on earth. Or the caring soul who advised you to list your home with a little "wiggle room" Now it's been on the market for a year but you still have room to negotiate.

So what do you do? Back to my teaching philosophy. Find out what works. Agents, stay away from the coffee machine and get around good solid training. Hang around agents who are actually having settlements. Buyers, find a Realtor who will provide you with accurate market and loan information. It's a buyers market but be careful of agents making outrageous claims about how much they can save you. Whatever you do, don't listen to TV experts who have never sold a home! Sellers, find a Realtor who will show you accurate pricing strategies based on sold properties like yours. Don't price based on active properties. Active simply means, up to this point, the seller has been unsuccessful. In closing, find what works from someone who has made it work or is working with someone who has made it work. Remember, Ben Roethlisberger didn't ask any reporters what plays to run.