Even Uncle Sam Sez So

The years go by, and some things never change. Public opinion polls seem to repeat the news: the general public thinks very poorly of real estate agents as a profession. And I mean VERY poorly. Most people hold real estate agents in low regard. The reasons vary, but the result is truly unfortunate. An unrepresented seller or buyer of real estate can perhaps muddle through a transaction, but at a very high cost (both financial and emotional).

But it's not just ME trying to educate people on the value of finding and using a trusted real estate agent; Uncle Sam also "gets it." In a recent FHA e-newsletter (February 15, 2010), the notion of hiring an agent is promoted as the wise thing to do. To quote: "Most of the fears that buyers have about realtors are just plan false." And then this quote: "...your real estate agent's job is to represent your interest only. They want to get the deal done for you! If you are a happy client, you are likely to refer business to them for doing a good job." Sounds reasonable, right?

The article continues on to suggest that most folks simply don't understand how an agent's role can benefit them. So it seems the FHA and I are promoting the use of a licensed, ethical, and trustworthy agent. Sure, there are some less-than-stellar agents in the ranks, just as there are in any profession. Ever meet a teacher you thought was sub-par, or a doctor? You see my point.

Subscribe to the FHA newsletter for free, read the weekly article, and learn. To find a terrific agent, start asking your friends and neighbors who they would recommend, based on personal experience. Just because a local agent has spent lots of dollars on marketing their brand does not translate into good service to you. It's the person who can serve your needs, not the face in a newspaper ad or on a grocery store cart.

The Death of Newspaper House Ads? You Betcha!

("Let's see, how many of these house ads match our price range, and bathroom requirements, and are in our kid's school district, have lots of inside pictures of the house, and can be ready without a magnifying glass?") ANSWER: NONE

A common point of discussion at my office sales meetings over the past couple years is the usefulness of local newspaper ads for our property listings and open house announcements.

The debate is this: some agents feel that the local newspaper ads are absolutely necessary to maintain a presence in the local real estate market and the consumers' minds. The managing broker (our boss) and the real estate company (Baird & Warner) are making decisions that are shifting our advertising resources AWAY from print newspapers and INTO the internet.

The reality is indisputable; most buyers start their home search on the internet. Most buyers have already done much research into a home search ONLINE before they set foot in an open house, let alone contact a real estate agent. And the demise of the traditional newspaper is either on the horizon for some papers, or already here for others. And for those that are still functioning, their size and volume of advertising is dramatically down. Our local weekly paper, published by the Pioneer Press, has shrunk to a mere shadow of its former self. Indeed, the Pioneer Press organization has recently SHUT DOWN several of its northwestern community editions! The Chicago Tribune, the historic daily paper, is also unrecognizable to me any more. The world has shifted to online news and advertising. Period.

So, why is this important in the grand scheme of things? Because most sellers of homes still want to see their property in a print ad in a newspaper; they think it makes a difference in finding a buyer. The print ads are very costly, and in fact provide very little results to the seller or his listing agent/broker. Put that same property into the MLS with a full service brokerage, and that property will find its way into dozens of websites that are searched daily by home seekers. If that home seeker sees an online ad for a home that provides the listing agent's contact information, the home seller has just had the best possible exposure - an interested buyer speaking directly with the listing agent.

It's time to let go of the notion that newspaper ads sell homes and tape-playing Walkman's are the best way to take your favorite music with you.