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April 10, 2007
I have dozens of classes to complete as well as some pretty fun stories, so stay tuned. I’ll do my best to keep things updated daily, and get a few more posts up to make up for the vacation in California.
Speaking of which, the market is still very pricey in SoCal. I was visiting a friend in a neighbourhood I remembered as being particularly bad, and stopped to grab a for sale flier in front of a small condominium.
It stated that they would accept and consider all offers from $520,000-$559,000. I had to laugh. This was 3-4 times more expensive than a very nice condo in the best neighbourhood here.
And WHY would anyone submit an offer following the suggested offer range? It seems ridiculous to put a $40,000 price range on a flier.
I also spent some time in Vegas on my way back. The market seems to have slowed there as well, perhaps even worse than in California. All along the highway we saw billboards offering amazing promotions and builder incentives on new homes. Offers such as $40 closing costs, with 40% of the first year’s mortgage covered by the builder were being tossed out like pancakes…cheap pancakes at that.
So they overbuilt Vegas, there might be an opportunity there. Me, I think I’ll sit back and watch before shopping.
I’ve changed the title on the Blog to hopefully reflect the direction I want to take this. I don’t hate real estate. I find it fascinating. I do think the industry needs reform, but as has been commented, there are bad agents and good ones out there. I appreciate the existence of good agents. I hope they’re making the money they’re worth. I just fear that the industry has devolved into facing a ‘bad waiter’ crisis.
The ‘bad waiter’ comes to exist when a waiter or waitress realizes that they can work their rears off to net a modest tip income, or do as little work as possible and STILL GET TIPPED by people who are too embarrassed to tip poorly.
Good waiters continue to exist, but the bad waiters are still getting paid, and often have little to no incentive to work harder. It seems to be the same with Real Estate agents. Why work harder than is necessary if you get the commission either way? And lets be honest here, which is more important, the client or the commission?
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