January 13, 2008

REALTORS going away in droves. Thank god. Good riddance.


The NAR reports there's still 1.3 million used home salesmen out there.

Yes, that's 1.3 million too many.

I fully expect to see in the next ten years the death of the REALTOR profession and the NAR.

Yes, there will still be people paid to help clueless homedebtors out with housing transactions, but they will be paid an hourly or fixed amount fee. There will be no such thing as the NAR's MLS. Google will likely be the leading freely accessible online database of homes for sale.

And future generations will be amazed that an illegal uneducated immoral monopolistic cartel was able to steal 6% of the price of a home for doing jack sh*t.

Want a glimpse of what's to come? Think about the last trip you took, and how you did your air and hotel reservations. Then think back 10 or 20 years when you used to use a travel agent to do the same thing.

As housing slumps, realtors quit

"They've tasted success and big money, and now their standard of living has been rocked and reality has set in," says John Baen, a real estate professor at the University of North Texas in Denton. "The whole [economy] has been built on real estate. When the music stops, what is left?"

Evidence is growing that agents, especially in hard-hit markets like Florida, California, and Georgia, are closing up shop in large numbers, experts say.

In Cape Coral, Fla., where only 30 percent of agents sold even a single home last year, real estate agents are "dropping out" daily, says local realtor Ginette Young. The Oregon Association of Realtors reports an 11.5 percent decline statewide of licensed agents in the past year.

"It's a gold-rush mentality," says Michael Davis, an economist at Southern Methodist University's Cox School of Business in Dallas. He has been struck by how many agents, brokers, and investors, acting against conventional wisdom of portfolio management, converted large percentages of cash holdings into only a single and somewhat risky investment: property. "I don't know whether they're ignorant or optimistic, perhaps a little of both," says Dr. Davis.

37 comments:

Anonymous said...

I love the sex tease realtor; we have lots of them here in Los Angeles. They are convinced that their sex appeal is what is closing the deal and not the market. When I talk to these people I am shocked to see where they are coming from. They are convinced that every man wants them. Wake up baby, you’re yesterday’s news.

Anonymous said...

Why do all realtors use pictures of themselves even the ugly ones?

Leon Poggioli said...

I am so sick and tired of these parasites. I live in a trendy apartment complex and get at least 3 letters a week from uneducated teenagers who claim to be "your local real estate expert". No you aren't. You perform no function which contributes in a meaningful way to society, and thanks to the internet your days are numbered.

Shakster said...

No No No NO PLease don't GO!
Kieth,some Realtors are good,especially that one.

Illegals Everywhere said...

Nightline had the story about 10 Thousand people showing up for 350 jobs at a new wally world in GA. The report said that real estate agents were among the applicants.

Roccman said...

The die off should begin with realtors...then move to politicians...then those who believe in a god...

Farmers should be spared the die off.

Ed said...

Rubbish. Atlanta is booming don't you know. The air is different here. Our shit smells sweet and our condos are never going fall in value. Everyone in the world wants to move here and as soon as they do the value of our real estate will skyrocket.

Stop the spreading of false rumors sir.

Or so I would be writing if I were a Realtor here. That is still by far the overwhelming attitude. Sure some of them are giving up, but not most. Talk to your average person around these parts and they truly believe Atlanta is special.

debtisslavery.blogspot.com

Anonymous said...

I'd buy anything from her, where do I sign?

eww! said...

I wouldn't touch that skank with a ten foot pole. Any man who does that can expect his wanker to rot off.

Veronica Lodge said...

<RE: REALTORS going away in droves. Thank god. Good riddance.

Where does an overpriced paper shuffler fit into the scheme of things, now that the real estate market is crashing? Home prices will eventually bottom out at prices from the year 2000.

In the very near future, the following rules will apply to home loans:

1. You will not be able to finance an amount that exceeds 3 times your annual household income.

2. Your entire housing debt (mortgage payment, insurance, taxes etc.) will not exceed 40% of your household income.

3. You will need to provide proof of income.

4. You will need to have good credit.

5. You will need to come up with a substantial down payment -- no more 100% financing.

6. Your financed home will be subject to an honest appraisal.

7. All home loans will be fully amortized -- no more negative amortization, no more interest only.

8. Annual home appreciation will eventually return to the amount of inflation plus 1%.

How will Realtwhore parasites exist in this new market where their 6% extortion fee (combined with additional junk fees)consumes around one year's average home appreciation?

The Realtwhore will essentially be stealing most of your down payment.

V.L.

Anonymous said...

6% for what. Driving you around for an afternoon, filling out a few blank lines on a standard contract followed by a 2 minute phone call to the selling agent to see if their offer is accepted. Once the contract is signed by both parties they are out of the picture while the lender, appraiser, and title company do the rest of the work. Yea, they are doomed to go the route of the "full service" travel agent.

wc said...

They put their pictures on their cards because it helps people to remember them. I'm not sure why someone ugly would do it unless they don't realize they're ugly.

As with travel agents - they do still exist on a smaller scale in the corporate world. There will be a place for realtors as property managers, rental agents and probably in commercial real estate as well. I would like to see a world where you only pay for the services you want from a residential realtor for a flat fee or a set fee for each service (i.e., listing on a website, running an open house, signing a binder that turns into a contract, etc...)

Anonymous said...

Damn, that chick in the picture is hot.

Alex3191 said...

You have her phone number ? she would be a nice escort to hook up with ...

Anonymous said...

PEOPLE!!

Anyone still paying a REALTWHORE full commission in this day and age is a MORON!
There are plenty of cash back realtors who will give the buyer 2% back at closing upon a purchase. NO NEED to leave money on the table to those commission HOs ANYMORE!!

If they want money from me, they will have to earn it the old fashioned way--it's called a LAPDANCE.

Anonymous said...

linkedin all of a sudden has the option to add a photo and people are doing it

guess everyone likes their ugly mug out there for everyone to see

Anonymous said...

I dont think that hotie is a skank unlike what some people think. You know why, because she is a model, not a realtwhore.

Frank@Scottsdale-Sucks.com said...

I was chatting with the store manager at the new Bloomingdale's at South Coast Plaza in OC and she said nearly every new job applicant is a done-for realtor.

When my girlfriend worked as admin at a "high end" r.e. firm in Scottsdale and we got to know the realtors I was shocked at how little work they do. Even the top performers who were making six figures went out and drank every night, smoked pot, cheated on their spouses, slept late every morning, came into the office around 10-11 am, sat around and watched "The Secret," showed a few houses then went out at night and did it all over again.

(Mostly it was 40-something married "cougar" women going out to f*ck college boys but almost all of them, men & women alike, cheated on their spouses.)

The firm did most of the paperwork for them and they couldn't even get that straight - the little bit of paperwork the agents had to do was always incomplete and half-assed.

Of course now they're all screwed and several already have their homes in foreclosure.

I'd feel bad for realtors if it wasn't for the fact that none of them earned one dollar through an honest day's work, and that they all had such a rude, mean, snotty attitude problem during the boom and thought they were so superior to everyone else.

Now that they have to work a real job and live in a sh*tty apartment now that the bank has repossessed their houses, I don't think we'll be seeing any more attitude.

Anonymous said...

she looks like she just got off the stage at ricks....

Anonymous said...

being a realtor is hard work. they fill out the paperwork for you, (that you can do yourself) and do not ever go by and check the house you are trying to sell, so you have to tell them to resupply the circulars they have in the tubular holder on the re signs...and they wait for the customer to come to them and they have to be reminded to be sure and put the house for sale in the local paper for the weekend, etc, etc.......

and if there is a lawsuit, you are on your own....


and for all of this 'service', you get hosed for 6 percent of the sales price....



yeh, we really need these pricks......

Anonymous said...

I was chatting with the store manager at the new Bloomingdale's at South Coast Plaza in OC and she said nearly every new job applicant is a done-for realtor.<<<<

going from selling houses to selling clothes.......hmmm, not sure if this is prudent at this time....

amerika is changing and changing fast.

soon it will be like old al gorelioni said.

what is up is down and what is down is up....

Anonymous said...

some women dress like this all the time, yet they don't want to be considered sex objects....well darn...you look like a ho, ....i mean who figured....you have a brain.....no shit???

Anonymous said...

Who is she and what movie, i.e., porn, is she in?

Anonymous said...

"I wouldn't touch that skank with a ten foot pole."

You know that you are gay, right?

happy homeowner in the stix said...

I don't think she's a typical realtor, unless she's a 50 year old with an EXCELLENT plastic surgeon.

If she is.....who did her work? ;)

Anonymous said...

http://www.liliaashley.com/

Anonymous said...

Frank you lie. No woman would subject herself to be your g-friend.

Anonymous said...

They put their pictures on their cards because it helps people to remember them. I'm not sure why someone ugly would do it unless they don't realize they're ugly.

Have a relative who's a Realtwhore - OK, shut up, it's only by marriage, thank God. She's the definition of BUTT UGLY. Smeared her face all over her b-cards... never understood why she would choose to do so. Then recently got a new card from her, the picture was so touched up that- I swear to God - I didn't recognize her. When it sunk in I started screaming "holy sh*t!!!" and had to call my bro to make sure I wasn't hallucinating. Wonder if her clients drop her when they ask themselves if she lies as much as her picture does (and by the way, the answer is an astounding YES)

Anonymous said...

I'll buy anything.

anything
from her

Anonymous said...

Keith,

I think you are quite wrong here.

Yes we will have "real estate agents" in the future. Just their title will change to something like "real estate customer service reps".

They'll get paid $15/hour as staffers for house openings. Maybe $20/hr if they are really hot.

bob said...

Tanta posted this one over at Calculated Risk, quoting from the article:

But Dr. Baen of the University of North Texas is optimistic about their futures. "These people are hustlers, hard workers. They're used to getting on the phone," he says. "They'll end up in insurance, in mutual funds, in retirement planning, and commodities."

and commenting that she was busy disconnecting her phone and hiding her retirement accounts. It was hilarious.

Anonymous said...

I would buy swampland in Florida from that hottie.

Anonymous said...

Illegals Everywhere said...
Nightline had the story about 10 Thousand people showing up for 350 jobs at a new wally world in GA. The report said that real estate agents were among the applicants.


---

If you're gonna exagerate make it at least somewhat plausible. 10K people showed up for a new WM? Bullshit.

Give a link.

Anonymous said...

>> I wouldn't touch that skank with a ten foot pole. Any man who does that can expect his wanker to rot off.

You sir, are either a flaming homo, or a jealous pig of a wife.

Merciless Ming said...

Yea, if they're good looking females they can at least go back to shaking their tits and doing lap dances at their local topless bar. So look on the bright side... they won't starve.

6% is for Suckers said...

Keith...I know its late on this blog but I got to add this tidbit and tell of the smile I got this afternoon while pulling out of the pizza hut parking lot. Looked up at the stop-light and noticed the vehicle in front of me (2005 Dodge Caravan)had a "Pizza Hut Delivery" neon sign on the roof and a (you guessed it) "Ask a REALTOR" tag on the back. Its actually happening...Realtor's are getting their hands greasy. Just Priceless

20 a table dance, 100 for VIP room said...

The younger ones can go work the strip bars or escort services where they belong.
The cougar realtors are the ones that are in big financial trouble unless they found some rich mid-life crisis viagra addict to support them.