Saturday, October 20, 2007

"I'm buying real estate...why aren't you?

Don’t just sit there and complain about the market and the over abundance of inventory…buy something!

Yes…that’s right I’m talking to you the real estate professional. Maybe today’s mantra for everyone in the real estate business should be “I’m buying real estate…why aren’t you?” Maybe we ought to lead by example. Maybe we should be buying up the inventory at today’s incredible prices and then be calling on our sphere of influence (SOI). Maybe we should stop asking the tired old question, “do you know of anyone that wants to buy or sell?” and start asking “Guess what I just did?” And tell them that you just closed on a great deal and they can too.

Just imagine for a moment if everyone with a real estate license did this. There are over 95,000 licensees in the state of Arizona right now. OK that’s unrealistic I know but what if one out of ten of us did buy something and through our efforts we made an additional sale or two. Wouldn’t that get things moving again? You do the math. It would be fantastic. What a dramatic impact it would have on the marketplace, inventory and our attitudes.

As long as I’ve been in the business everybody wants a “deal.” Well let me tell you folks there’s nothing but deals out there. The marketplace is full of deals.

Look at agent headlines not newspaper headlines. Internet and print ads written by agents are screaming with opportunity. You know what I'm talking about. You’ve seen the ads. You’ve probably written quite a few… Drastic Reduction! $10,000 below Appraisal! Bonus to Buyer’s Agent! Prices reduced $50,000, $60,000 and &$70,000, Co-op Fees at 5, 6 and even7 percent? Are we staring at these ads, shrugging our shoulders and reinforcing “doom and gloom” or are we staring at one of the best long term investments anyone can make?

The past few years have exposed us to some incredible, profitable, money-making times. What did we do with all the money we made? Why aren’t more of us investing in the very product we tell others to believe in? Why aren’t we telling everyone “I’m buying real estate…why aren’t you?

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