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An Email from Vegas

I received this email from a Vegas real estate agent in response to my piece Has the NAR No Shame.

Quote

Dear Lee,

As an NAR member for 26 years I could not agree with you more that they are out of touch in many areas of our business. I am not sure what happens when “:Mr Smith Goes to Washington”. If feels like…go to Washington and get disconnected. Needless to say I agree with your article. We don’t pay dues for them to be cheerleaders when the team is falling apart. We want the truth so we can put together the right game plan.

My reason to get in touch with you today ( I live in Las Vegas) is that we are suffering pretty badly here when it comes to real estate and jobs. I think we combine the problem and call it realjobsestate. They are connected.

I was listing and selling a lot of REO’s and now the banks want to hold back on the inventory ( they say that only 30% of foreclosed properties are on the market) because of fear of further declines in the market. Yes more inventory may cause lower prices, but we would certainly have a lot more sales. What does this really mean at the bottom of the food chain…More jobs…How? Every foreclosure that I have sold in the past 4 years needed lots of work just to be made barely livable. So what does a new owner of one of these homes do…spend lots of money on sinks, bathtubs, paint carpets, landscaping, roofing, appliances etc. Where do they go to get this stuff….Home Depot, Lowes and their local lumvber yards and applicance stores…Is this what they mean by simulating the market and creating jobs. It looks that way to me.

Tell these great brains to increase the inventory so we can get them sold and the new owner spend MONEY. Let’s not drag this out…take the hit and move on.

Name Withheld
Broker-salesperson Company Name

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