"So How's The Real Estate Market?" What's your usual answer to this question these days?

By
Real Estate Agent with John Aaroe Group BRE #01708344

I get asked this question so much.

For varying reasons.

Sometimes it's because people are genuinely curious.

Other times it's a loaded question where the person asking me is a total "Debbie Downer" and needs affirmation of their negative outlook on the world.

For these kind of people when I state the market is pretty fair, they have a pre-loaded response like "well, that's not what I hear"  or "my brother-in-law says the market is in the dumpster".

There's always someone who needs to make themselves appear like the authority figure when in fact they wouldn't know the real state of the market from a hole in the ground.

What's your response to this classic question?

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Richard Ruggaber 04/09/2010 10:40 AM
  2. Rose Osman 07/22/2010 10:57 AM
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Rainer
147,546
Don Spera
CR Property Group, LLC - East York, PA
Serving York and Adams County, PA

A lot of your instructors and managers will tell you to say "Unbelievable".  They can interpret that any way that they wish.  Next subject please!

Apr 08, 2010 12:39 AM #1
Rainmaker
836,945
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I like to ask a question back and test what they are looking for.  Are they wanting to sell to buy looking for a deal.  Personally it doesn't matter which direction the market is going we sell it and get paid.

Apr 08, 2010 12:44 AM #2
Rainmaker
681,179
Elite Home Sales Team
Keller Williams Realty - San Clemente, CA
A Tenacious and Skilled Real Estate Team

I agree with Tim the best way to deal with the question is with a question.

Apr 08, 2010 12:59 AM #3
Rainer
108,064
Ron T. Weems Jr.
Weems Real Estate Group/N.W.R.E. LLC - Marysville, WA

Ralph,

My question them. Why do you ask? You need to investigate to find out if they are asking for themselves, friends or relatives. I feel that when people ask a question like that they asking for assistance.

Apr 08, 2010 01:27 AM #4
Rainmaker
1,052,634
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Someone asks me instead if BS -ng them I tell them how it really is in their neck of the woods. Real Estate is local and what I have noticed since November of 2009 my market has been smoking. My closings will confirm this. So I d not need to use the "..unbelievable..." answers.

Apr 08, 2010 01:34 AM #5
Rainmaker
1,511,917
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

I just took a class last month where the instructor gave us a great response ... "That depends. Why do you ask?"

Apr 08, 2010 01:55 AM #6
Ambassador
1,316,606
Robert (Vegas Bob) Swetz
REALTY ONE GROUP - LAS VEGAS, NEVADA 702.443.7156 - Las Vegas, NV
Commercial & Residential Real Estate Agent

Hello Ralph and the market is doing very well in Las Vegas and the Thai food is great in Thailand, commenting to you from Thailand this is Vegas Bob & Nu Nu!

VB ;-)

Apr 08, 2010 02:48 AM #7
Rainer
71,840
Connie Hall
All Brokers Real Estate - Portland, OR

I always say people are selling and people are buying, why are you thinking of buying or selling? Usually when people ask, they are either asking because they are worried about you or they are planning to buy or sell in the near future.

Apr 08, 2010 07:26 AM #8
Ambassador
627,883
Doug Rogers
Bayou Properties Realty - Pineville, LA
Your Pineville Louisiana Agent

I tell them the market is AWFUL, and quickly follow up with "may I borrow a few bucks"? This tends to cut back on future inquiries.

Apr 08, 2010 10:06 AM #9
Rainmaker
331,235
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Ralph, I say what it is, it is not bad.  I am doing well, still selling and buying.  Most of the time, their response is kind of shock to hear the market is not dead.  But some are glad to hear that, so it all depends who is asking, and I don't pay attention why they want to know.  I think most of the people like to hear depressing stories than happy stories.

Apr 08, 2010 10:51 AM #10
Rainmaker
281,929
Carra Riley
Author, Speaker, Consultant, Carra Riley Inc. - Williams, AZ
CRB, CRS, GRI

Ralph...I think being honest is the best policy.  If they want to sell, the answer is one thing, if they a wanting to buy it is another.  It is a buyers market in a large part of the country, so it may be easier to get a value purchasing than it is to get top dollar on a sale.

cosmic cow

Apr 08, 2010 11:21 AM #11
Rainmaker
951,589
Georgie Hunter
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

"it depends if you're a buyer or a seller... it's a great time to be buying!"

Apr 08, 2010 09:57 PM #12
Ambassador
748,467
Steve Shatsky
Prudential Texas Properties - Dallas, TX
Dallas Real Estate & Short Sale Specialist (214)213-0340

Hi Ralph... my standard opening line is "Like nothing you've ever experienced before!"  And then I go on from there.

Apr 08, 2010 11:43 PM #13
Rainmaker
1,365,265
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

People tend to avoid eye contact when this question comes up....we greet it with a smile and say....we are doing well...how can we help anyone you know to take advantage of the great selection and interest rates....

Apr 09, 2010 04:46 AM #14
Rainmaker
449,496
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
The Agent Who Uses "Watermelon Tough" Sign Posts

Ralph,  Funny you should ask.

I just received a marketing nugget from Joe Stumpf going over how to respond to this very question.  He has a video where he explains some specific language that is useful.

Apr 14, 2010 08:17 PM #15
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924,841

Ralph Gorgoglione

California Real Estate (800) 591-6121
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