Thursday, October 15, 2009

Past president of Wisconsin Realtors Assn. files for bankruptcy

I made sure that many of my clients were made aware of this story - about how a former president of the Wisconsin Assn. of Realtors just filed for bankruptcy.

Yet, I don't have a client base in Wisconsin (as of now).

Since this is still more negative publicity coming from the real estate industry, I'm betting that this story will get some national media play. And more consumers will see this and become more hesitant and/or skeptical about doing anything in the real estate market.

I'll pass along the same advice here as I am to my clients. This is a good time to softly let it be known that your company is on solid financial ground (provided it truly is) right now. Make a current and even potential client feel safe about contacting your office. Let consumers feel like this story is isolated and not a reflection of the marketplace.

There are still plenty of investors out there looking to make decisions by the end of the year. Those same investors saw the "sudden" rise in the stock market on the same day this real estate story broke.

More negative publicity for realty agents and home sellers to deal with. But it should be dealt with and not left out there to do any more P R damage. Right?

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