Real Estate Media

“Real estate is a year-round opportunity to help countless people realize the American dream” (“Why Real Estate”, 2012). Eighty-five percent of buyers believe that home purchases are good financial investments, and a majority of homebuyers and sellers rely on the services and expertise of real estate professionals to assist them with their transactions (Profile of Home Buyers and Sellers, 2010). “The primary job description for an agent is communicating with potential clients to determine what kind of property they are looking for” (Richard, 2012). This means, setting up interviews with clients to see if the agents firm possesses property that meets the client’s specific needs. Once it is apparent exactly what the client is looking for, the agent sets appointments to show houses to clients and many times the agent physically accompanies couples while showing off properties.

When the real estate market hit rock bottom, trust was broken between the lenders and

     The real estate industry is thriving with approximately sixty-eight percent of all Americans being homeowners. With low interest rates, 1st time home buyer down payment assistance programs, and government funded educational opportunities (i.e. the Home Ownership Center of Greater Cincinnati), the real estate and mortgage lending industries will continue to flourish. However, there are some unethical lending practices that are threatening the housing industry as a whole.

The real estate industry is thriving with approximately sixty-eight percent of all Americans being homeowners. With low interest rates, 1st time home buyer down payment assistance programs, and government funded educational opportunities (i.e. the Home Ownership Center of Greater Cincinnati), the real estate and mortgage lending industries will continue to flourish. However, there are some unethical lending practices that are threatening the housing industry as a whole.

According to Levitt & Dubner “A phrase like “well maintained,” for instance, is as full of meaning to an agent as the code phrase “Mr. Ayak” was to a member of the Ku Klux Klan; it means that a house is old but not quite falling down. A savvy buyer will know this (or find out for himself once he sees the house), but to the sixty-five-year-old retiree who is selling his house, “well maintained” might sound like a compliment, which is just what the agent intends.”(70). So why would real-estate agents do this well theres a simple explanation the house is on the market for 400k and they make a 18k commission and make $4500 cash in hand or wait 3 more weeks do a lot more work sell the house for $410,000 and make $4650 cash. All this can be avoided, internet enables information transfer so that people can know more stuff that was once held by “experts”. Such “exposure” of information reduces the information imbalance, and causes the prices of experts’ service to collapse.

In his essay “The Mansion: A Subprime Parable,” Michael Lewis uncovers the reality about the American real estate issue. A great number of Americans have obtained homes that they cannot afford. Banks have loaned out home loans that individuals cannot pay back. Some days it seems as if half of the nation is financially submerged. It is no doubt that certain home loan specialists, and numerous huge firms can be blamed for this crisis, yet they cannot be blamed for everything. Most of the blame, Lewis argues, has to be given to us, the citizens. The fact of the matter is that Americans are greedy, we desire luxurious things that we can show off to everyone around us to prove how well we are doing. This is true especially when it comes to housing. Numerous have been brainwashed into accepting that if a major house implies achievement, then the

People in California, as well as the rest of the nation for the most part, are in a state of panic and are waving the flag for a state of emergency reprieve. The real estate market has been blown to smithereens in a post-bubble economy. Buyers are straining to find a home they can afford, bidding against multiple other buyers for the same houses and wondering how they are going to make the mortgage payment. Affordable housing is becoming a thing of the past in a market where sellers are giving away incentives but aren 't willing to slash their prices. Homes are sitting empty and dark as their lawns grow high and turn into eyesores that embarrass the neighbors because their out of town owners can 't find a buyer. In some markets, houses are taking a lot longer to sell than they did a year ago. It is said that in California houses are selling in 54 days instead of the 30 day it took last year but as a resident of the golden state I would say that 's a nice rumor. There are four out of eleven houses in my cul-de-sac up for sale and have been on the market for over a year. One of them has been on the market three times in the last 3 years by different owners. ...Nothing is selling! There are stories of sellers throwing in a vacation packages; cash back offers, free decorating and cars as a way of luring prospective buyers to attend open houses and make their bids quickly. Contractors have advertised upgrades on fancy counter tops, rounded corners, landscaping and roofing

In this crazy world, it is important to find those who you can depend on- in life, in love, and especially in real estate. Finding the right group of people to network with and collaborate with is key to finding success in this field. In analyst Jonathan Littman’s article, “Real Estate Reinvented,” Littman documents information that he researched on Northern California’s Alain Pinel Realtors. An Alain Pinel Partner and the company’s President, Helen Pastorino, states that “ [she] believe[s] that the ‘every agent for himself’ hurts sales and [she has] quickly turned to using computers and networking to [her] advantage” (Littman). A successful real estate agent will not be afraid to collaborate and work with others, because he/she knows that

Two fears are associated with selling a house: that you will sell your house for less than its worth and that you will not be able to sell your house at all. The real estate agent has the responsibility of setting the price for the house because they know what sells and how the market is. Agents can see you as an ally, and sell your house for a deserving price, or they can see you as a mark and sell your house quickly for a cheaper price that does not affect their profit. They can convert information, say the market is not good for sellers at the moment, into fear, your agent might convince you to sell your house for less than you wanted just because you got an offer. The internet has made real estate agents have less of an advantage. Now, anyone can see how much houses in their area are selling

First, real estate agents had unrealistic expectations from the market. Because banks were giving out low interest rates for a certain amount of time, people didn`t foresee the consequences of taking out loans which are not affordable at first. Since people were not knowledgeable about the financial market, they bluntly believed in the real estate agents and such.

Big banks in the middle 2000s were flourishing of the money made from selling the mortgages to big investors. While this was great when the banks were giving money to people who were reliable and were going to pay their mortgages every month. And when the investors were making such a hefty profit they wanted more. This is when Subprime mortgages were widely used, giving less reliable lower credit scores the opportunity to get homes. The banks knew that these people would not necessarily always be able to pay, which was the one of many mistakes (Crash Course.) The banks learned that while it did sometimes work out, the consequences of giving out too many unreliable mortgages can bring the whole nations economy down for the housing market has always been the pillar of the economy. The greed of the extremely wealthy continued to overpower the common sense of the

Buying or selling a house or an apartment is one of the biggest decisions of a person’s life. And when selling or establishing a price for real estate, people seek out real estate agents to do the dirty work. A real estate agent has to convince a prospective homeowner that he or she is trustworthy and knowledgeable. In many ways, the agent acts as a counselor to individuals and families about to embark on a huge commitment. Real estate agents have a thorough knowledge or real estate market in their community. They

This paper will seek to provide an overview of the real estate process and its affects on the real estate agent. An agent needs to be knowledgable about the steps required to make a sale, and the risks involved when the sale does not go as planned. Real estate sales require much of the agent, including sacrifices in their personal lives and in their financial stability. Agents must be teachable and willing to seek to see others succeed. A successful real estate sale consists of many steps, sacrifices to personal time, and an agent’s ability to work well with others while remaining incredibly flexible.

The authors used all constructs of the theory through pre- and post-survey questionnaires for subjects studied that went through the training course. Through the pre-survey they were able to determine what realtors prior perceptions on lead and whether or not they understood its implications and any of the background information relating to lead prior to taking the course. After completion of the course, in six months, they were followed up with surveys and phone calls to determine how effective the course was. The realtors enrolled in the study were volunteers and were provided with a $200 financial incentive. The behavior researchers sought was to see if the realtors put into action what they learned and whether or not they were able to inform potential clients about the homes they were selling. An increase in realtor awareness is seen through the feedback they provided therefore it reveals to have sustained a continuous behavioral change in the thought process of selling a home to potential buyers. The authors did not clearly define the theories they used. Instead they stated using quantitative and qualitative measures and also described their methodology in detail.

Establish Credibility: According to US News, the great American dream of owning a home appears poised for a comeback. Real estate company Trulia reports that in many parts of the country, rents are rising while housing prices are falling, making buying a home more affordable. Trulia found that in 98 out of 100 major metropolitan areas, including Detroit, Atlanta, and Cleveland, buying has become more affordable than renting.” I think the mortgage catastrophe of 2001 left prospective home buyers afraid of buying a house without being extremely certain that is the right decision.