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Hoang,I think I agree with you. Tell me if I understand you wrong. You are saying that an Agent's job is to assist in the buying and selling process. That is the minimum job requirement.
I sort of agree with you. Although in a market right now, I do not know if it is fair to say that it is ok for Agent to push Buyer's to Buy and to give possibly misleading information, just because they "do not know any better".
Now that being said, I am not the be all end all of knowledge, but I do believe that we should all look out for the best interest of our clients.
I am sure many will disagree with me. It is not about predicting market swings. It is about making an educated decision based upon market factors.The thing that bothers me about agents is that they come in with these great one liners "prices are down and rates are great" as if that is the end all be all to making a decision on purchasing a home.
At a point in time like this your clients are looking to their REA's for a professional assessment of the situation and if your criteria is that prices are lower then a couple years ago and rates are low... What about the possibility that prices could drop further? I'm not asking you to call a bottom, but at least be cogniscent of certain market factors. Is your clients current job secure? Does your client have a significant amount of savings? Why does your client want to buy?
I've lost clients because I told them they should not buy, but in the long run if you ask the right questions and know more about market factors rather then "just because" you will be doing your clients a greater service.
My preference. High rates with prices shooting through the floor. But that is just me.
I think Silent is right. There are factors that are moving towards an equilbirium. Are we there or even close? Maybe in some areas, but not even close in many.What makes it still a big ?? in most markets are the continuing loss of jobs, high inventory and overall economy.So even if you are buy is less then rent, if your area is losing jobs, or has high inventory there are still question marks.I think on an invidual basis you will have to break down specific neighborhoods and probably one of the few justifications for buying would be the scarcity of the product available (i.e. oceanfront in Hilo, HI has moved from high inventory to low inventory over the past 3 months 2 homes closed and 1 in escrow (out of total 7 homes), now if you were on the fence for that product and you "have to have this house" its probably a time to be looking).
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