August 04, 2008

HousingPANIC Quote of the Day

"As blogs became more popular, it was troubling that many of the major real estate writers and bloggers weren't actively employed in the business. Some of them didn't even own any real estate, but seemed to have plenty of opinions on whether or not others should own it."

- Marlow Harris, Coldwell Banker Bain & Associates six-percenter and moderator of the Seattle PI's "Seattle Real Estate Professionals" blog, August 2008 - giving us a gem of unbiased wisdom that only someone who went through the years and years of realtor school could give. Oh, wait, there's no school? You mean anyone can be a realtor?

46 comments:

Frank@Scottsdale-Sucks.com said...

He'll also probably tell you you're a "loser" for renting when he probably can't even get credit-approved for a lease.

Anonymous said...

The zeal of the outsider bloggers also puzzles many professionals.

"I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

"I never thought that anyone would waste a second of their day to champion falling house values, and celebrate when new and converted condos go unsold."

Anonymous said...

As blogs became more popular, it was troubling that many of the major real estate writers and bloggers weren't actively employed in the business.

those employed in the business were too busy doping suckers into toxic loans to worry about blogging. blogging by those in real estate didn't begin until business slowed considerably. blogging then became a way to seemingly attract more business or differentiate oneself from the others as business dried up.

Some of them didn't even own any real estate

those with any finacial sense at all sold their real estate holdings between late 05 and early 07. exception are those whose real estate holdings were an insignificant portion of their net worth.

but seemed to have plenty of opinions on whether or not others should own it

not really an opinion, just presenting obvious facts that those in the business were blind to see or would not admit to for fear of losing business.

Anonymous said...

Soooo.....

If a doctor does not have heart disease, he is not qualified to do a bypass operation?

Anonymous said...

She needs to look up "conflict of interest" in the dictionary

Anonymous said...

ITs troubling that there are still a million REALTORS!

Anonymous said...

Here's the true issue.....

As the housing bubble became more likely, it was troubling that many of the major real estate insiders weren't accurately reporting the truth.

tangelo mozilo said...

"Some of them didn't even own any real estate."

Well, that's kind of the point, now, isn't it?

Was Bruce Cutler unqualified to be a mob lawyer because he never killed anyone?

Peahippo said...

"I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

That's what makes this person the greatest of our enemies. They have no moral dimension. They truly can't think of a reason to speak out on any topic unless that topic is directly associated with your employment.

True, since all housing bubbles drive up prices and rents (and associated costs like construction labor and materials), there is an economic interest. But that interest is nowhere near what McCoy is involved in.

I'm really looking forward to the day when people say something like:

"So you had to somebody called a reel-tor to sell a property? That's WEIRD!"

christiangustafson said...

Is there an address where I can mail a few tabs of ramen?

The insane smugness on RE here in Seattle makes the RE crash so sweet in the end.

Anonymous said...

That article falls short of actually BLAMING bloggers for the bubble burst, but the implication is still there.

Mark in Philly said...

Soon these blogs will be reigned in under the "Fairness Doctrine" when the democrats gain total power

WHAT? You just think government will use that to only destroy conservative talk radio...?

eternitus said...

Some of them didn't even own any real estate...

That makes no sense... If I think something is a bad investment, I have to contradict myself and buy that investment in order to have an opinion about it?

Did this person even graduate High School?

On another point... It's clear that this person hasn't heard of conflicts of interest. The Realtor thinks you are better off listening to someone who is better off the more you overpay for something.

Anonymous said...

We realtors are very protective of our pseudo-profession, and we really just want to sell houses and not be harrassed. If we can get you "clients" to pay us 6 or 7% for our work, then we have certainly earned it.

Miss Goldbug said...

No one needs a license to talk about the real estate bubble. All it takes is common sense to know what when wrong. Thats much more valuable than "an opinion".

Greenspan, wall street, bankers and the majority of US citizens all lost theirs.

Blindfold? said...

""I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

PERFECT REIC attitude. They will go far...

Take it out to the courtyard, give a blindfold and cigarette and execute.

Period.

Anonymous said...

Marlow is a lap dog, now Susan Ryan (from the SI) that's the mouthpiece. She wrote a collum that 10% gain is a sure thing, slam dunk, in the bag, can't miss and some people from this blog just attacked her on her pipe dream and showed her how stupid her 10% gain was a joke. You know what her comeback was ? she shut off the comments section. You guys cut her to pieces it was so cool.

Malcolm said...

Maybe it's like the time that the White House decided to have an energy policy meeting, and only included Big Oil.

Tht worked out OK, right??

are 6% of them even honest? said...

Dear Marlow Harris,

Go FUCK yourself!

There's a simple explanation far beyond the scope of your tiny little Realtor brain. Many of these bloggers are or were in the tech industry, so they have the skills to easily expose the shameful and fraudulent practices that were and still are taking place within the lending and real estate sales industries. A lot of the fraud that's been paraded around in the press was actually dug up by these bloggers, and continues to be.

Why the bloggers did it, many of whom are anonymous, who knows, but I would venture to guess it's much like the same call of duty that the Minutemen feel to go protect the border against illegal immigration. They protect the border, we protect the heartland. The government has failed miserably doing both.

That said, even I will acknowledge that not all of you in the REIC are bad or dishonest people, but in the end, the few good folks stood by and did nothing to protect the public from the bad apples. The spineless lot of you always said, "oh, those people, they're dishonest, stay away from them" rather than actually doing something about "them." For that, you all deserve to be punished by the scorn and scrutiny the bloggers have bestowed on you.

Oh, and more bad news honey. We're not done with your sorry asses yet!

Dopes!!!

Tucson Collapse said...

I've been watching mls and Zillow in Tucson for over a year now, and can shred any realtor at an open house regarding comps(a silly concept in this market anyway)/solds/listings/the-market-in-general...I've ceased to be surprised by what they don't know. I'm not sure which of the realtors are just stupid and which are truly deceptive...so I just eat the freebies and split. The information needed is readily available...why trust a commission-based realtor? My impression: lazy, aging frat-boys and sorority bimbos whose jig is up.

Devestment said...

I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

Here is my explanation… You see by using my intellect to formulate ideas that I put into action I generate revenue. Sometimes I make money on deals, at other times I keep my money safe by staying out of the game. I identify problem areas, profit motivation, market perceptions, and puffed up egotistical self centered liars. Once my information is in place I can make MY best purchase.

I can explain this for you also…

"I never thought that anyone would waste a second of their day to champion falling house values, and celebrate when new and converted condos go unsold."

You see, as prices fall it becomes easier for people to own homes. In the public view converted condos are junk, they are just cheap apartments pretending to be something they are not. When they go unsold it is a win for humanity and a step in the right direction. Additionally, when they go unsold it is a testament to the fact that money exceeded demand and caused overdevelopment that has finally played out to real need. It’s cause for celebration.

And this…

"As blogs became more popular, it was troubling that many of the major real estate writers and bloggers weren't actively employed in the business. Some of them didn't even own any real estate, but seemed to have plenty of opinions on whether or not others should own it."

I wonder where you think these bloggers live. All civilized people have an interest in housing.

MONEY said...

yeah no conflict of interest.

Also we like having money in our pockets.

Anonymous said...

>> As blogs became more popular, it was troubling that many of the major real estate writers and bloggers weren't actively employed in the business.

The only thing troubling is that there's so many of you Realtor cockroaches, and not ENOUGH light to shine on you.

keith said...

Wouldn't 95% of realtors be surprised to find out that HP'ers know more than they do about the real estate market, and economics in general?

We're the experts. They're ignorant commission whores.

Oh, was that too harsh?

Whoopsie.

Cow_tipping said...

hey you moron realtor.
Not owning RE now does not mean we will never own it, and in a sense we are cheerleading the market heading our way, where we can buy it without paying you 6% and buy it for pennies on the $ that you conned your latest "customer" into doing. We are neutral bystanders, you are the shills that stand to gain from what you're writing about.
Cool.
Cow_tipping.

Anonymous said...

"I never thought that anyone would waste a second of their day to champion falling house values, and celebrate when new and converted condos go unsold."

Words spoken by a man that probably owns an overpriced Seattle condo.

Anonymous said...

"...Some of them didn't even own any real estate..."

They probably held one of those sleazy "no-doc leases" that Schiff mentioned.

{/snark}

Anonymous said...

You GOTTA see a picture of that "Mack" McCoy guy!

http://www.niceseattlehomes.com/

LOL!

Frank@Scottsdale-Sucks.com said...

those employed in the business were too busy doping suckers into toxic loans to worry about blogging. blogging by those in real estate didn't begin until business slowed considerably. blogging then became a way to seemingly attract more business or differentiate oneself from the others as business dried up.

What I find amusing is no realtor ever did any learning or educating, but now all of a sudden I go to an open house and the realtor has my books or even recognizes me. Which means they made no effort to learn how to sell until now, when it's too late and nobody is going to buy anything.

Sounds like the same is true with blogging - they'll now all suddenly jump online as if it will help them at all.

Frank@Scottsdale-Sucks.com said...

"I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

REIC people can't understand why anyone would do anything when there isn't a quick buck in it for them.

No surprise there.

Anonymous said...

Blast from the (recent)Past!

http://tinyurl.com/6ow5ov

Lady Di said...

These people should be paid in Ramen.

Is there a more discredited "profession" out there?

Morons.

LibVet said...

"converted condos are junk, they are just cheap apartments pretending to be something they are not. When they go unsold it is a win for humanity"

A simple, true idea elegantly expressed.

Refuse to buy overpriced said...

And I would have gotten away with it too, if it weren't for those meddling bloggers!

kendra todd said...

Bubbles ar for bathtubs morons.You folks had better go back to high school and get a ged.What we have right now is a retacement.Smart money is buying real estate as you morons still live in the basement with your blow up doll.Get a life and save your folks some money.

By the way I do have a man in my life for all you losers still wanking yourselfs to my pictures.

Anonymous said...

RIGHT ON!!!!

Look at all the leadership expierence Bush has!

... never mind.

brokersleaveyoubroke said...

In New York you become a real estate salesperson by going to a class for one week and passing an easy test. To become a Realtor all you have to do is send a check to the NAR. Most realtors I know don't even want to join the NAR but they are forced to because the office they work for requires it. Why does the general public let them get away with calling themselvs "professionals"?

Anonymous said...

Watching the Realtors squeal about us in helpless fury gives me a warm feeling inside....

i've had it said...

Marlow,

if the world had listened to folks like Keith and other posters on HP back in 2005 and 2006, we wouldn't be in this catastrophic mess.

The entire bubble was built on cheap money (that wouldn't last) and fraud...fraud at all levels starting with real estate agents. It encompassed borrowers, lenders, banks, ratings agencies, investment banks, etc. It was a bubble built on fraud and interest rates set by an artificial mechanism: the FED...not the market, like they should be.

Government regulation in the form of an artificially low interest rate and rampant fraud throughout the entire mortgage financial chain is what the bloggers were blogging about. They knew what the truth was (and still is). You are the liar and the idiot..and a fraudster.

That you can even come up with a comment like you did just speaks volume to the evil nature of you and your profession.

You don't deserve 6% of diddly.

DOPES THE THIRD !!! said...

I SO LOOK FORWARD TO LIFE IN ANOTHER 10 YEARS OR SO...

I'M BETTING ONE MORNING I OPEN MY WEB BROWSER AND SEE A NEWS STORY ABOUT AN OLD AND DUMPY KENDRA TODD LIVING IN FLORIDA IN A OVERPRICED P.O.S. SHE'LL HAVE THREE KIDS, A HUSBAND THAT DUMPED HER MONTHS AGO, SHE'LL BE A FAILED REAL ESTATE AGENT, AND SHE'LL BE OFFERING HERSELF, HER KIDS, AND HER MORTGAGED TO THE HILT CRAP BOX HOUSE UP FOR SALE TO ANYONE THAT WILL BUY THEM ALL - JUST LIKE THAT OTHER DISGUSTING HO DID DOWN THERE RECENTLY...

IT HATH BEEN FORETOLD...

DOPES!!!

Anonymous said...

It's troubling to think that so many think no one has a heart.

ATE-UP said...

I'd lose that gut Kendra.

Peahippo said...

The blog in question:

http://blog.seattlepi.nwsource.com/realestate/

... doesn't seem to contain the statement in question. Keith? A little help here, please.

Anonymous said...

"I don't know what makes someone write about real estate when they're not getting paid for it," McCoy said.

Do you think he thinks the same thing about sex?

Anonymous said...

fu u bloodsucking leech.

Joe in Memphis said...

If you want to see how "bloggers" who really are in the business, do it, check out Active Rain. Content for points is a great motivator for realtors.