For the are-you-fucking-kidding-me files, we have an article from this month’s issue of Realtor – the official magazine of the National Association of Realtors. In the article “Overcoming Buyer Reluctance“, various ways to trick people into trying to catch a falling knife are discussed. While the piece is primarily excerpted from Gary Keller’s new book, “Shift”, it’s presented as a how-to for realtors who are struggling to find buyers in this market. (They find it odd that people finally seemed to have smartened up, I guess.)
Here is the first tip they offer:
“A simple technique to prove to potential buyers, or even sellers, that they can’t perfectly time the market is to do this easy demonstration: Take out a blank sheet of paper and pen. Now, starting at the top of the paper, draw a line going down and at the same time ask the buyers to stop you when the market has bottomed out. As long as your line keeps going straight down they won’t be able to. The moment you start back up, they’ll say ‘there!’ but of course they missed the bottom. Now, keep drawing your line up while asking them to tell you when the market has peaked. Again, they won’t be able to tell you until you’ve rounded the top and started back down. Then they’ll say ‘there!’ and once again they’ll be behind the peak. This should be a moment of truth for them.”
Yeah, it should.