Originally Posted by hampstead38
Easy, gents. There are about a zillion realtors out there. I'm sure some are great and some are not-so-great. And maybe I'm not a careful reader, but I didn't see where anyone on this thread is in foreclosure or taking routine trips to Vegas. The mortgage meltdown involved a wide range of factors... including gov't intervention into the marketplace. It wasn't just a case of realtors selling people houses they didn't need, or mortgage mills falsifying financial data, or the monetization of sub prime mortgages. It was a systemic failure... and individual homebuyers deserve some of the blame for making old-fashioned poor decisions.
My point is that I'm trying to sell my house without carving out a check for $20k... and I just wanted to know who had been successsful with what FSBO web sites.
If by systemic failure you mean a racket that eventually blew up while a handful of crooks walked away with loaded pockets I'm with you. The real estate agents were only a small part of the racket and they were not the ring leaders. But anybody who knew anything about real estate could see a crash coming. I saw it coming from clear outside the country, 3 years before it happened.
Home buyers deserve a small part of the blame but let's face it, they were sucked in by a well organized racket with all the persuasion of modern advertising behind it, endorsed by top government officials, banks, and the whole financial and real estate industry. When someone gets swindled by a professional con man I put most of the blame on the con man and only a small part on the victim. Some very smart people got conned and some of them still haven't gotten wise.