Why Do Realtors Always Say "It's a Great Time to Buy"?
From time to time, I open the floor to my friends on Facebook to answer their questions regarding real estate. I enjoy the real-time banter and often get direct responses and PMs asking me typical questions such as whether we are in “a bubble” or where do I see interest rates heading. (“What’s Going on With Interest Rates?”)
However this question from Conshohocken restaurateur, Brian Pieri, really stood out tome and it’s a good one. Why do a lot of real estate agents reflexively tell you it’s a good time to buy?
My answer: You might be talking to the wrong real estate agents. As in any profession, there are good people and bad people. To be fair, most real estate agents I associate with have their client’s best interests at heart, but there are those who are focused on themselves and will try to get any business that comes their way regardless of whether it’s right for their client.
Personally, I didn’t get into this business for awards and sales volume recognition. I got into it to help people. That’s not just a sappy line, it’s the truth. So many buyers (especially my age & younger) really need the help of a licensed real estate agent to get themselves into the right situation or out of a terrible one. Perhaps they’ve made a bad investment in the past and need to get out from underneath a terrible mortgage. Perhaps a couple is going through a divorce and one of them needs to find a new home 3 towns over. Perhaps a young couple is expecting a new baby and needs more room. Sometimes, a buyer’s circumstances are independent of interest rates, housing inventory and other market conditions…. sometimes you just gotta move, much like you need a new car or a new job.
And sometimes, the best course of action is to stay put!
For example, I had a client that I had been showing homes for almost a year and we finally decided that now wasn’t the best time. They simply had too much student loan debt and they were running the risk of being “house poor”. (I’ve been there…it sucks) Of course, any job has a profit motive attached, but I do need to look myself in the mirror too. I need to look my kids in the eye and know that what I do is making people’s lives better…not simply herding buyers & sellers to a settlement table.
It boils down to this: If a realtor out of hand says it’s a great time to buy and you feel like you’re being sold, you probably are. At that point, it’s time to walk away and find someone you can trust will give it to you straight. Fortunately, for you, I know just the guy! 😉
Have questions? Go ahead…ASK ME ANYTHING! Maybe I’ll use your question in my next installment.
Seth A. Lejeune, REALTOR – Berkshire Hathaway – Collegeville #RS331494