Life after the Tax Credit - Damaging Realtor Predictions

While it's too early to know what the future holds, our prediction of a flat line market is shaping up to be a real possibility. Traffic at our Model Homes and other listings has dropped by over 70% since Saturday, May 1st. Did we pull all the 2nd & 3rd Quarter buyers forward? NO WAY. Did we pull quite a few forward? ABSOLUTELY. How many is unimportant, what matters most is what we do today, tomorrow and the next day. Roll up your sleeves, get back to basics and the rest will take care of itself.

Here's what won't get it done - telling buyers that Obama, Congress or whoever is going to renew the tax credit in a couple months. I've heard this from two buyers the past couple of days, one of them actually decided not to buy a home because a Realtor friend told them this very thing.

We all know a few agents that like to play "The Great Carnack" and show how smart they are at predicting the future but please folks think about what you say. None of us has any real reason to believe there will be another tax credit, quite the contrary. That kind of talk will seize the market up faster than telling people rates are going to be 4% in a few months.

If you still struggle with this concept and think it's your duty to advise people what the future may hold, consider the following. What if... You tell a potential client that you think (or heard) they are going to renew the Tax Credit in a few months. They trust you and decide to hold off on buying a home for now. September comes, there is no new tax credit and interest rates are now at 6.25%. Did you do them a service?

Safer to assume there will be no more bailouts, let people take advantage of low prices and great interest rates. Tax Credit or Not, this is a wonderful opportunity for home buyers to get a bargain.