BrokerageIndustry News

Realtors become own media to sustain market optimism

Part 2 of 2: Negative news scares off clients

(This is Part 2 of a two-part series. See Part 1.) Are we going to let the negativity in the media continue to create irrational fears in our clients? Or are we going to fight back and tell the truth about all the good things that are happening in today's real estate market? There are more than 1 million Realtors in the United States and approximately 2 million people who hold real estate licenses. What can we do to counteract the flood of negative press? 1. Stage a frontal attack Whenever you read or hear a piece of news that uses a percentage, remember there are two ways to view that percentage. Take these two examples: Negative Media: Twenty-five percent of the subprime mortgages in the U.S. are not performing.Positive Realtor Response: Subprime mortgages represent 25 percent of all mortgages in the U.S. Of these, 75 percent are performing. This means that only 6.25 percent of the total loans are NOT performing (25 percent of total loans that are subprime) X (25 percent not perform...