2010—The Year of the Realtor!

I can see more clearly now than ever, that next year will be the year of the Realtor in Real Estate here in Arizona. I have had the unique opportunity to speak to a number of the Stakeholders in our real estate transactions and in each case it was made clear that, more than ever, the Realtor is a central focus for everyone’s plans going forward.

The Asset Manager’s I have spoken with have said that during this moratorium, they had the chance to go through in detail their Realtor network, and what they found was that a number of the early Realtors that got into their REO group, were not the right ones and they were not only re-evaluating but literally getting new Realtors who have the ability to best service their housing portfolio’s.

7 of the 10 Banks we met with were initiating short sale programs, with the emphasis being on communication and quicker turn times on answers for Realtors when making offers on their properties.

The banks we have spoken with have clearly learned that this housing challenge CANNOT be solved through just an REO outlet, we need a strong short sale program, with quality realtors involved and engaged in the program, with communication being the focal point. The Banks that don’t make this a priority will see many of their listings, NOT EVEN SHOWN, by top Realtors in the market as they can’t get answers for their buyers, and wait weeks to even hear a “NO” from a Bank.

Lastly, the Government programs, which offer assistance to consumers for purchasing or fixing up homes, need the Realtors to educate their clients on the programs, in order for the 30 plus million dollars, allocated throughout Maricopa County to be spent, the Realtor will need to be an educator and a promoter of the government programs, or else our State will not have the funding dollars renewed.

No matter which way you look at it, the Realtor is getting back to the front of the Transaction and will be critical to the success of this housing market and for markets across the US.

Steve de Laveaga
SVP Sales and Marketing
Fidelity National Title
steve.delaveaga@fnf.com