I've recently had this conversation with a number of people in our industry. We all know that the market is suffering right now. Some areas much more than others. I just wonder how much of it is "real" and how much is being driven by public perception thanks to the media. Granted, the subprime market is what it is, but what about all of the folks out there who don't need the subprime market? How many people are afraid to buy because they don't THINK they can get a loan, or because they have HEARD so much about how bad the market is, they are terrified to try and sell?
I believe that we should be countering this in mass by educating the consumer/our clients and potential customers that there are lenders lending, and buyers buying, and sellers selling! Do you think that if we all as a huge group, saturated the market with more positive information, we have the power to turn it around? I'm not suggesting that we lie! Don't get me wrong. I do believe that there are a lot of advantages out there for the consumer in this market. Look at how many are in higher rate loans. Look at the recent spike in the refi market.
I am suggesting that instead of sending "just listed" postcards, we should be sending "just sold" or "just closed" postcards. Pointing out that if you sell your lower priced home at a 5% discount for example and buy up at that same discount, you are "making" not "losing" money. Even more so if you are getting that new loan at a better rate.
If we "advertise" the activity that IS going on (ie. loans approved, sales written, closings,etc) that could wechange public perception at the local level??
I believe that by doing that on an individual level as a group, then on a national level, we could have a very powerful effect. Can't hurt! The alternative would be to just sit around and watch!