Sunday, March 18, 2007

Rewind to 2002 Fireside Chat: Why Do Homebuyers Distrust Realtors?

I found the following interesting article published October 30, 2002 in the Realty Times, written by Blanche Evans. It provides a series of reasons why 5 years ago, in 2002, homebuyers might have held a certain level of distrust for realtors.

Here are some of the key reasons identified by Ms. Evans:

  1. Generation Gap - That GenX and GenY prejudices pose a serious challenge to realtors hoping to make that sales connection.
  2. Service Gap - That it's important to first time homebuyers to know and understand how much home they can really afford, and that other home buyers just want the realtor to find them the house they want and provide strong, favorable price negotiation expertise.
  3. Cultral Gap - Too many white agents. Not enough ethnic diversity in realtor ranks.
  4. Electronic Gap - That realtors in 2002 don't yet fully understand the significance of the internet and of e-mail communication as powerful tools to tranform their sales activities and success.

All good points brought forward by Ms. Evans.

But I am one who values self-inspection, perhaps some self-criticism. You know, taking a real inventory of one's strengths, weaknesses and character flaws.

It's now 2007. We are in the midst of a national housing downturn. Many who bought homes in 2002 and after may be in serious jeopardy of losing their homes due to reason 2.

So how would we today answer the same question?

Do homebuyers trust realtors more than they did 5 years ago?


IrvineRenter said...

My wife asked me a few days ago why I am so annoyed with realtors? The only answer I came up with is that they are manipulative liars. Is that really all there is to it, or is there another reason to be pissed at them?

HB Bear said...

According to a poll in the UK, real estate agents and politicians are the least-trusted of the professions.

I can imagine that real estate agents are trusted any more here.

Anonymous said...

The lack of ethics is astounding. They are dimestore con artists who flaunt all laws and rules of conventional business conduct to provide a negative value added service.

Imagine if day laborers were paid $1000.00 per hour, then add the criminal element and you have a realtor.