Rich’s media appearances

[LA_Renter]

Alright here is my take from a body language perspective. Number 1, I did not see any steamroller, Rich held up well. Number 2, Lee Sterling is a professional realtor (sales guy), this guy is doing what he gets paid to do – Sell. Professional sales is my chosen profession so I guess I can say, it takes one to know one. Rich is coming from a fiancial/economist background that deals with actual numbers and analysis that translates well on a forum such as this blog. I guess I would say that Lee had a better command of his presentation but come on the guy is a professional realtor. There was nothing that Lee said that remotely changed my view on the current state of California RE but I have also done my due diligence. My suggestion to Rich is to keep in mind that you are persuading viewers to look at the current RE differently than what is being touted by the RE industry and much of the media. All Rich needs to do is raise reasonable doubt which I think he did a reasonable job on this show.

[SD Realtor]

I didn’t get to see it as well. I am still wondering if the guy that Rich was debating against was the same Lee Sterling who owns the Carlsbad HUS Franchise.

Here is a link to Lee’s picture.

http://www3.helpusell.com/RealtyWest/listings/ListingAgents.aspx

If it is that Lee Sterling then he is a formidable opponent who is armed with a career of legal experience (and he is tough to debate agains) and who is quite savy (and he is a very nice guy) so Rich had his hands full.

I think perhaps what would help Rich next time, if there is a next time would be for him to come armed with some stats that are straight from the MLS. It is one thing to say buyer psychology is different but it is another to say here Lee, tell me why only 1 out of 18 condos in 92130 is pending. Again, I didn’t watch it but it is ALL TO EASY to pull up MLS stats right now that indicate a much harsher reality then is currently being portratyed by pundits.

[rankandfile]

I think Rich did well. I think he would have done even better if he spoke more. My impression was that his counterpart came across as himself – a salesman-like, former attorney. Mr. Sterling effectively filibustered Rich, particularly in the beginning of Part 2, where it seemed like he took 3-4 minutes to make a single point.

Rich came across as professional, courteous, and knowledgeable of the subject matter. One suggestion I have would be for Rich to be a bit more confrontational, although I sense this is not in his nature. You might think that you are fighting the former attorney's fight by doing this, but I think you will do quite well. Nobody knows the subject matter better than you and I can see that when you get "fired up" a bit, you actually stop thinking about every word you are going to say and you just talk…which is a good thing. The "to a man" comment you made about those you have spoken to about ARMs is an example.

Another suggestion would be to read up more on Mr. Sterling to see some of his (and his agencies) past work, and point out irregularities in it. I think he may have a bit of an advantage in that he can read your blog and get an idea of your tactics and arguments. Why not do the same against him, if you haven't done so already? Rich has the advantage of the host, who is also a renter, being on his side. I might also point out the fact that Mr. Sterling was in Colorado, not California during the last housing bubble. Were you, Rich?

[lamoneyguy]

PerryChase is right on the money. A trend that drives me crazy in politician speak is the “let me introduce you to the Smith family” or “let me tell you about the Rodriguez family…”

Everything is reduced to anecdotes. But there’s a reason they all do it. It works.

Stories sell. People can relate to a family losing their home and $50k in the process because some realtor convinced them they could always take out a HELOC when prices go up. They don’t relate to DOM and price/income ratios.

~lamoneyguy

[salo_t]

I think Rich kicked a little ass. Like another poster pointed out – he was up against a professional sales guy who is used to putting a rosy spin on things. Hell, Lee is there defending his career and his way of life so I would imagine he would put up quite a fight. But still the way I saw it Rich’s argument held up much better than Lee’s old tired lines about how SD is running out of housing etc etc.

[rseiser]

I just watched both shows that my friend recorded for me. Rich is excellent. Jolly is a loser.
We were cracking up on his last comment: “Buy a house in San Diego, and your children and grand children will thank you.”
My response: “Yes, I also think the drop will be so severe that it will take 1-2 generations to break even again!”, haha.

[Anonymous]

Another suggestion would be to read up more on Mr. Sterling to see some of his (and his agencies) past work, and point out irregularities in it. I think he may have a bit of an advantage in that he can read your blog and get an idea of your tactics and arguments.

Yes he can!  It's like having the other teams playbook.  All the advice that Rich is given on this blog is also given to Mr. Sterling.  Food for thought

[sdrebear]

SD Realtor…

 

Yes, this is the same Lee Sterling from Carlsbad Help-U-Sell.

[SD Realtor]

rankandfile funny you mentioned reading up more on Mr. Sterlings work… I didn’t want to post it but I looked up Mr Sterlings sales, expireds, cancelled for 2005 verses 2006. I wish I could have given Rich that information prior to the show. They perfectly illustrate the slowdown.

[powayseller]

Rich’s reports would be so much better if he would get MLS access. I’ve suggested several times that he team up with a realtor. Can you imagine SD Realtor and Rich teaming up to make some graphs, or prep for an interview? It’s amazing how much data he’s come up with, not having MLS access. But imagine the power of his data if he utilized it.

[rankandfile]

SD Realtor, I am sure that Rich would be much obliged if you provided that data for him before they have them both on again. Information like that would be very valuable in a setting like that. Of course, we have to assume that Mr. Sterling is reading this forum and knows that Rich will have this information in hand…and will prepare a counter to it. I love a good chess match.

[brooke]

Rich’s new business partner has MLS access and has been using this data for in his monthly charts for several months now.

As far as some of the suggestions, if Rich believed that stories and anecdotes were valid arguments, he would have believed the “everyone wants to live here” and other myths that have been circulating for years. But Rich deals in evidence, not stories. Sure, many people do think stories are convincing, but those are not the people Rich is talking to.

Also, the topic is not the current slowdown, which is still relatively mild. The topic is that we have experienced a huge bubble, and we are at the very beginning of what could be an equally huge correction.

If they want someone to tell stories they’ve got the wrong guy.

…just my extremely biased two cents. :0)

brooke

[SD Realtor]

brooke that is a good point. I do not quite agree with your characterization that the recent slowdown is relatively mild. I can point to a few zip codes that have already depreciated to 2004 pricing levels if you like. These are not stories they are facts.

At any rate all one with access to the MLS needs to do is simply pull up Lee Sterlings listings and compare his sales to expireds/cancelleds/withdrawns for 2005 verses 2006. In fact if this is done for ANY Realtor it will be evident that most all of us have many more expireds, cancelled, and withdrawns this year then in the past 10 years.

[justme]

First of all: Rich, you are them MAN! And a very handsome
one, at that :). I think you did a splendid job, you were cool as a cucumber and you kicked major ass with FACTS!

Your counterpart Lee was a windbag of the first degree.
The only thing he had going for him was that he hogged the
airwaves at a rate of 2:1. His techniques were pretty
transparent in retrospect. His strategy was to speak slowly
and at length, trying to sound “resonable and thoughtful”.
Plus he was not shy about interrupting. Luckily the moderator did not allow too much of that.

If I was going to attempt some advice for the next show, I’d
say: Get more long winded, cite some more facts and stats (whether relevant to the specific question or not!), slow
it down a little bit and do your own “reasonable and thoughtful” bit. And interrupt the clown if he says something lame and disingineous. Call him on it!

Thanks again for the effort, you did great.
I can’t wait for the next one. Go get ’em, tiger!

[powayseller]

Great interview, Rich. The moderator was very good at controlling the interview. She never did get to the exotic loan comments, so I hope there will be another interview coming up? Lee Sterling interrupted too much, and that made him appear worried; it’s as if he couldn’t bear to let any of Rich’s comments go on the record. Thanks to Brooke for providing the links.

[Author]

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