Honest Realtor Shocks Local Couple – “Don’t even think about buying now, it’s the worst time ever.”’

This tale from Fool me once… at greaterfool.ca 27 Feb 2010 11:49 am -

“A local realtor shocked my wife and I. We are renting in a very nice Burnaby neighbourhood and went to look at an open house close by. The realtor looked us straight in the eye and said to us on the way out “Don’t even think about buying now, its the worst time ever.” I must have looked confused because he said “Don’t worry, I’ll have multiple offers by tonight.” This veteran realtor earned my respect.”

2 responses to “Honest Realtor Shocks Local Couple – “Don’t even think about buying now, it’s the worst time ever.”’

  1. I dont buy these ones. What realtor would tell people not to buy? That would be like a car salesman telling people that “this car is the worst car ever made”. Even if it is the truth, you still dont tell people that.

    There is still a chance he is wrong and we could see rising prices for the next 5 years.

    If he believes that strongly in this being a bad time to buy then he should just represent sellers and keep his opinions to himself. It would be a bit of a moral hazard if he was telling people now is a good time to buy when he believes the opposite, but I see nothing wrong with keeping his mouth shut and letting people decide for themselves.

  2. It seems that the realtor was able to accurately assess that this couple were unlikely current buyers. His comments at that point were likely his genuine assessment of market conditions, and they had the effect of gaining him the respect of potential future clients.

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