The real indication of a slumping RE market

[Alex_angel]

You just need to check Lexus or Mercedes sales to see if the RE market is booming. It seems that every RE agent I see is driving one.

[HLS]

Are you kidding ?? They are probably leased, and they could easily be behind in payments.

What people drive or wear or how nice their offices look do not impress me one bit.

People get fooled by slick. Give me someone who knows what they are talking about and does what they say.
I couldn’t care less how showy they are, and what they “appear” to be.

Many RE agents are nothing more than used house salespeople looking for a commission that they can get by misleading people with their tainted opinions.

[one_muggle]

Two long-time realtors I know both own their homes and their (very nice high-end) cars outright. The reason is simple. They know that SoCal RE is cyclical, and to keep their $1M+ clients for the future they need to drive a nice car.
Fair or not, an agent driving a 4-yr old camry isn’t as likely to land a million-plus client.

[HLS]

Your statement is true, but sad.

Some of my best friends are real estate agents.
There are some real professionals in the industry, but there are many that just aren’t.

[sdrealtor]

I drove a 5 year american made vehicle that I own free and clear. Heck sometimes I actually wash it. I have closed 3 transactions this year over $1.5M.

[HLS]

SD,
You are my kind of agent… Take 100 agents at random and try and have a conversation with them about the state of the market and the general economy, and I think that you separate the wheat from the chaff pretty quickly.

Over 20 years ago, I bought my first house from a guy that drove a dirty old Ford Torino. Had to move the trash off of the front seat so I could get in to his car. I didn’t mind at all, the house was a deal and he did what he said he would do for me.

I loved dealing with him. He knew what he was talking about.
I’m sure there were others who were better dressed, that drove me around in a fancier cleaner car, but they didn’t leave any lasting impressions.

Most people are impressed/influenced by the wrong things, a sad statement of society.

The book THE MILLIONAIRE NEXT DOOR relates that many average looking people are quite wealthy, and many that look wealthy have a negative net worth.

[JC]

I LOVE it! I am not in real estate, but I closed several 1M + deals last year (better than anyone in my group). I drive one of the oldest cars on the lot and don’t “dress for success”. My clients give me great reviews (i do what i say i am going to do and then some).

Sadly, that appearance crap counts with a lot of people, so I’ve been moved off sales in my regular job.

Fortunately, I have friends who care more about results, so I can now do sales as a side gig and earn more in commission on a single deal than I did for the all of the 1M + deals.

[one_muggle]

I drove a 5 year american made vehicle that I own free and clear. Heck sometimes I actually wash it. I have closed 3 transactions this year over $1.5M.

It’s great you can get away with it, but I still think you (or I should say one) is more likely to get estate contracts when one drives an impressive car–definitely in LA.
I’m not in an ‘impress-you’ business so I’ll drive my 8-yr old honda until the rubberband snaps. I have to say, I do find it funny when the maid or nanny come by and park their much nicer car next to my honda.

[bsrsharma]

THE MILLIONAIRE NEXT DOOR

Reminds me of our "plumber" for many years. We had a very old gentleman help us with plumbing repairs. He sounded very intellectual for a plumber. Later we found out he was actually a millionaire who did plumbing for hobby. He and his wife lived in a mobile home park since that was sufficient for them, though all their grown children were professionals. He never really cared for money. He wouldn't give us a bill unless we insisted!

[mixxalot]

My dad’s old boss was the mellow low key wealthy guy next door who was actually humble. He drove an old Cadillac and lived in a modest home. He used to have a Rolls Royce and did not like the attention so he sold it and kept the old Cadillac.

[citydweller]

I went to an open house at Escala about 6 months ago. The agents car parked out front was a Toyota Camry. I thought to myself “Now this is an agent I could trust”.

The new Beemer or Lexus out front is always a red flag for me.

[Critter]

I hired a Realtor in 2002 and when he showed up for the first appointment, not only did he have a Lexus, but he had a driver (he said the kid was his assistant and they went over business deals as he drove….).

He wasn’t familiar with my area, overpriced the house by 20%, was stunned not to get many walk-throughs in the first month but wouldn’t adjust the price, wouldn’t hold open houses, advertised it in the throwaways when others in the neighborhood were in better-readership publications (this was in Kensington), and when he put the listing on the MLS, he mis-listed the lot footage by 25% under.

It wasn’t difficult to fire him and hire an agent who was much more attuned to my needs – who didn’t have a Lexus or a driver. I’m not saying this is always the case, but sometimes people put so much energy maintaining appearances that they don’t want to get their hands dirty doing “real” work.

[ibjames]

the agent I was using to find a place drove an old acura integra, he was super cool and I trusted him

[mixxalot]

How to pick a realtor or agent

Look at the car they drive. If it is a brand new Lexus, Mercedes or BMW then I wont trust them automatically. If its an old beater and they are down to earth and have been in the real estate business for decades then I can at least have some confidence. I am sick and tired of all the stupid blonde bimbos driving Lexus, Mercedes and BMW cars and who are just scam artists eh real estate agents. This downturn will hopefully wash these people out of real estate and let them go back to stripping and modeling careers.

[NotCranky]

When I meet a single guy who is looking to do RE business I sometimes I ask him…are you going to go with the one with the biggest —- or shop around for other attributes. The responses are usually humorous and sometimes honest, if you get my drift. Why wouldn’t RE be a sometimes salacious business, ever see a beer commercial? Don’t think the women are never swayed by shopping with some interesting guy too.The frumpy and homely do mortgages!

[Author]

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