I stopped at tunnel vision. You don’t know anything about me.
Well, if you don’t have tunnel vision then you must see everything in the rental markets, everthing in terms of accurate statistics and time trends.
I mean you would know what percentage of homes are owner occupied, what percentage of homes are rented, what percentage of homes are divided on both sides of the 55-year old demographic, which homes are assessed low, ratios among the low and high assessed that are for sale, surveys of owners who decline to sell their properties and rent them instead, and why, and so on.
But if you know the market as deeply as described in the above paragraph and you’re just a broker, how could you possibly see the rental market statistics fully and still claim that CA’s property tax insanity and rent control won’t pressure rental property prices down? And if you’re just a sales broker, why would you spend time digging into the details of the rental market?
If you are what you claim to be, a broker, chances are you’re only expert in your area as to sales. If that’s your focus, then you likely have picked up by osmosis only a little of the rental side of the equation unless you’re a property manager and even then, your view is likely restricted to the areas around properties you manage.
If you’re a deep expert on all facets CA real estate, show it.
Having tunnel vision in real estate is 99% the norm for realtors as they have plenty to do just keeping up with new listings and managing current listings. Tunnel vision is not an insult, it’s a fact. If realtors can get better information that would help them, they will use it. Such outlets as Zillow are unreliable and not accurate. Hence, realtors are stuck with limited information and have to hustle to make a living. Tunnel vision is part of their world.
There are very few realtors that are both sales agents and property managers. Hence, a real estate sales agent may know a little from osmosis about rents but won’t know in general what homeowners or rental property owners are facing when it comes to decision time to rent or sell. Realtors can’t know that except on a very limited anecdotal basis.
In time realtors who specialize in the sale of rental properties like apartments will see that commercial buyers are balking because of tax reassessment and rent control, the two items that squish out profit. The only thing in general that can make it work is price reduction.