Comments on: An Air of Desperation in This Realtor Ad

By: DansDeepCreekBlog

DansDeepCreekBlog — Wed, 03 Dec 2008 14:29:42 +0000

I noticed this slight of hand as well (though I obviously have not been watching much TV so I’m a little behind) and was going to blog about it, but in searching for a link to the ad I found your posting. Great work.

By: Matt

Matt — Thu, 08 May 2008 17:35:19 +0000

“60% of the average homeowner’s wealth is from their home’s equity”

That’s precisely the problem. You wouldn’t want 60% of your wealth in a stock. Why would you want 60% of your wealth in a house?! Diversify.

By: A Realtor We Can Trust | Redfin Los Angeles Sweet Digs

A Realtor We Can Trust | Redfin Los Angeles Sweet Digs — Tue, 01 Apr 2008 15:21:33 +0000

[...] been pretty hard on the National Association of Realtors in this blog, mainly because of its relentlessly upbeat messages about home-buying that can mislead [...]

By: Cindy Allen

Cindy Allen — Wed, 26 Mar 2008 21:15:36 +0000

Hi, Rabbit:

You know, some people who don’t like Realtors compare them to car salespeople. But one good thing about car salespeople is, they don’t let you buy the car unless you can pay for it. Imagine what a different world it would be if agents suffered consequences if their clients failed to pay.

By: Cindy Allen

Cindy Allen — Wed, 26 Mar 2008 21:11:03 +0000

Hi, Summer: Nah, he likes talking about real estate. We’ve both through several homes together ( and just about lost our A** on the last one), and we are united in our desire not to own until we can get a place we can afford, which looks like that’ll be…never.

And thanks very much for the kind words. It’s nice to know folks are reading.

By: silly rabbit

silly rabbit — Wed, 26 Mar 2008 17:45:38 +0000

I agree with you Cindy, I saw NAR’s advertisement myself a few weeks ago and was similarly surprised by the bold language intimating that it is always a good time to buy a house.

But, at the same time, brokers are salespeople, as you point out. Their job is not to make their clients rich, but rather to sell homes. So, they are always interested in selling homes. Some are totally unscrupulous and unhelpful, others are knowledgeable and helpful, but it is the rare (and arguably foolish) broker who would actually argue against any home purchase (and commission).

Everyone should know that a broker’s interest is not in line with his/her client, so buyer beware!

By: eternal summer

eternal summer — Tue, 25 Mar 2008 19:16:08 +0000

you go cindy!
is your husband tired of talking about real estate? my husband is! he just tunes me out now, but i find this whole spectacle fascinating & am really enjoying your posts. keep it coming!

By: Cindy Allen

Cindy Allen — Tue, 25 Mar 2008 16:35:46 +0000

Grayxray, I have worked with some excellent agents myself. Every agent should be judged on his/her own merits. I agree that a good agent can provide a valuable service.

I am taking issue with the relentless “it’s never a bad time to buy” message the NAR puts out there. I fear that that message has been pounded into people for so long that lots of (mostly younger) people feel like losers if they don’t own a home. Renting vs. buying is not one-size-fits-all. That decision depends on market conditions, individual circumstances, and so forth.

If people buy a home they can afford and live in it for 10 or more years and don’t pull home equity out of it, they can build wealth with their homes. But today’s buyers haven’t been doing any of the above.

By: grayxray

grayxray — Tue, 25 Mar 2008 16:26:12 +0000

All I know is that I have made more money from the homes I have bought and sold that I have ever made in the stock market or other investments.

If you are counting living for the next 10 years or so then I believe real estate is the best investment, but I am not a professional so what do I know? Also, renting vs buying; I have always perferred to buy a home. There is just something about owning your own home and as near as I can tell rents are going up in the OC — anyway NAR has their interests, just like any organization — the real question is if their interests, creating value in home ownership overlaps with your interests in home ownership or real estate investment. I know Redfin bad mouths the NAR, at least they did on 60 minutes, but the RE agents I have used in the past have been very helpful, knowledgeable, etc.

I truly believe that if you are buying a home you need a knowledgable person to help you through the process.

Just my opinion.