Pigs at the tough
Credit crisis, sub prime mess, real estate bubble – whatever name you want to call it – what role did real estate agents as a group play in all of this? It seems as if they are getting a pass. Get the largest commission possible – sell a home at the highest price you can…
Credit crisis, sub prime mess, real estate bubble – whatever name you want to call it – what role did real estate agents as a group play in all of this?
It seems as if they are getting a pass. Get the largest commission possible – sell a home at the highest price you can get. Buyers can’t really afford it? Not to worry – I have a mortgage broker here who can help you (the kickback commission doesn’t hurt either). Don’t worry about anything – we have appraisers who can set any number necessary. You’ll have granite counter tops, Sub Zero appliances, and a 0% down, interest only mortgage. Most importantly, I get my place at the trough.
sitmd, I think realtors’ role was more opportunistic, in a superheated market they were able to position themselves better. In fact, I don’t think housing “caused” the current meltdown at all. In short, an unprecedented amount credit was pumped into the system, which is now getting wrung out. (Picture the world economy gorging on credit, which worked its way through the economic digestive tract as bizarre derivatives, subprime and bubbles of which the MAB was but one. Yep, the current various disasters are our cow paddies). At least, that’s how I see it
From “About” Brownstoner:
“Brownstoner.com is a site about Brooklyn real estate and renovation, and all the tangential topics that impact life inside and outside the home in Brooklyn.”
Seems like the role of the real estate agent profession in the current meltdown is more than a “tangential topic”. Perhaps, it may be to closer to home than you are willing to accept.
Agreed as well. The Paulson thread above is especially annoying, with this a close second. There are so many other places to talk about these issues would be nice to get back to our littler mission here.
I have to agree. Less editorializing, more advising.
Ditto on Dave’s post!
The way my broker has always put it to me (whenever we asked for his opinion on a price) is that the buyers dictate the market and in his words, there is always someone with deeper pockets… so, yes, he is free and clear because he has never ever offered an comments on something being overpriced or underpriced…
Boy…glad to see the focus is on real estate agents now instead of hedge funds.
That said, I’m not really for all this commandeering of the Forum posts for editorial content. I’d rather be here just commenting on summer covers, faulty plumbing and insulation.
Mr. Brownstoner: CLEAN UP THIS FORUM.