June 12, 2006

If realtors ain't gettin' paid...

If houses are piling up and nothin' is selling, realtors ain't gettin' paid...

If realtors ain't gettin' paid, then they can't pay off their corrupt mortgage bankers and appraisers

If realtors ain't gettin' paid, then they can't make the payments on that leased Lexus or their Mary Kay Cosmetics shipment

From Naples, Florida (bubble ground zero):

Real estate personnel get back to basics in new market
Although some Southwest Florida homeowners are discouraged because the housing activity is at a crawl compared to the market in recent years, real estate agents are operating at anything but that pace.

Seasoned and unseasoned agents are working steadily to sell their part of the high inventory, knowing that the market is correcting itself after the spree of buying and selling during previous years.

Properties were staying on the market at least 90 days as of May 18, said Judy Ramage, broker associate for RE/MAX Realty Team."We have to adjust and adapt," said John McWilliams, a Coldwell Banker Preferred Properties broker. "We have to share with the selling public what the inventory overload is."

Yet initiative is not enough to sustain new agents, especially those who enter the field without financial security. Newcomers who indulged in luxuries, such as cars and jewelry, during the peak of market activity also are scuffling because the lower commission cannot support the lavish lifestyle. Those who become real estate agents initially should have enough money to live for about six months, according to the U.S. Bureau of Labor Statistics in its 2006-07 "Occupational Outlook Handbook."

"The dropout rate with real estate agents is very high," Ramage said. "It's a very tough business."

14 comments:

Anonymous said...

Is she supposed to be a low-end hooker? Even if I were a breeder, I wouldn't want it.

How about $5? (paid to me!)

Anonymous said...

So many of these hammerheads quit their real job and jumped into being a realtor. Now they are looking like jackasses with no income and no prospects as we march towards the Q4 recession.

Typical tard mentality of the average humanoid, go for the quick buck and get bit in the ass.

The Thinker said...

Nobody's ever got rich following the herd.

Anonymous said...

Everyone thinks the economy in Florida is so great because there are so many jobs being created, true, at $19,000 a year.

Not only will thousands of these idiots be leaving the real estate racket but they will be leaving Florida too. Same for all the contractors, mortgage brokers etc. Too bad we got rid of all those factory jobs.

Anonymous said...

Keith, here's a new article on mortage scammers, with emphasis on desperate buyers trying to hold on.

http://tinyurl.com/ohuad

Anonymous said...

Anonymous said...

"Keith, here's a new article on mortage scammers, with emphasis on desperate buyers trying to hold on."

http://tinyurl.com/ohuad

I meant to say "Ben." I sent the same link to HB2.

Anonymous said...

No, I meant to say "Keith." Where's my coffee?

Anonymous said...

Holy Crap. Open house signs on every corner this weekend here in Pasadena! It's time for the inexperienced agent to get a fat slice of humble pie as the buyers waste her time and drop out after tying up her overpriced POS for a month with a low ball contingent.

I asked a realtor how to do a short sale this weekend, she didnt know how, I suggested she learn. She did know however that I could live in my forclosure house for 3 to 6 months.

She thought I would go to jail for selling my appliances before florclosure, I disagree because I didnt go to jail in the last bubble for doing it.

She said I should hold on because things will get better and RE only goes up.

Anonymous said...

Yea, straight up her pooter.

Anonymous said...

I never got why there is a bigger picture of the realtor than the house the are selling. I don't care how much make up they put on - they are still hard to look at..eeew.

Anonymous said...

Morning ramblings...

- I have a good friend who quit his high tech job to become a full time property fixer/flipper/renter/investor. He usually has good timing (did it in 2002 in Florida) and caught the rise. I have not talked to him recently to see if he got out. I expect he has since he has good timing... (Also I believe he stayed away from toxic financing since he had enough for down payments on real mtg's). Oh, yes, he got his RE license too. But usually for the information flow.

- I imagine the RE agents will be the first ones now to convince sellers that the bubble has burst to get them to lower their prices for a quick sale. That is because they don't get paid until it sells, and they don't want to have to work a listing for 3 months and have nothing happen. So they do not work in your best interests here either, and with many new properties to list they will be pushing sellers to lower their initial listing prices. Watch, RE agents will be the biggest ones talking prices down privately to sellers...

- Believe it or not, a down market is when a realtor who is good can actually earn what they are paid...
In a rising market, its almost like stealing, but in a down market, they have to work hard for the money...

Anonymous said...

went to an open house in st augustine fla last weekend. 6 homes for sale next to each other. I commented to the agent about all the homes for sale.
she said her client would take what he paid, then asked me if i wanted to buy to flip!!

clueless!!!!!

Anonymous said...

clueless!!!!!

clueless, or smart like a fox, looking for the next bigger fool, er, I mean flipper. She may have know just what she was doing. Did you ask her if she was the realtor/owner?

She needs a buyer that does not read HP>>>>.

Anonymous said...

Please tell me this isn't an actual photo of a realtor. Where are her whips, chains and handcuffs to go along with that pleather and boa. That is just awful.