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Every Man A King – Perception in the Real Estate Market

March 28, 2009

As a student of history, one of my favorite research topics was the legendary politician, Huey Long from the great State of Louisiana. He was basically not the most politically correct man on the planet and yet he accomplished great things for Louisiana. It’s a case of a leader who accomplished good deeds while remaining corrupt. Mr. Long is still remembered and revered in many parts of Louisiana – he’s a loveable train wreck. For added effect, Huey Long ran on the concept that “Every Man a King” and he had his loyal “subjects” believing this. Huey Long KNEW ABOUT THE VALUE OF PERCEPTION.

So it goes with our current economic and real estate markets where, like a textbook history lesson, PERCEPTION is King.  Everyone thinks THEY are special.

We can tell Sellers the truth about market conditions and we can also share with buyers that every home is NOT depressed or in foreclosure but they have a different perception based on news media and print publications.

Sadly, no matter how much you educate the listing client, they still cannot grasp the severity of our current real estate market and the concept of declining values. After all, their home is the ONE home that is different and worth more than all the others regardless of what statistics and facts we present.

The buyers on the other hand treat all homes the same – as a foreclosure or short sale. While sales executives know that every home is different and unique, many buyers have the misguided notion that every home is a “steal”.

To educate the sellers is an absolute necessity. The same can be said for buyers. Sadly, it does not always work. However, in the immortal words of Winston Churchill, “If you are going through hell, keep going.”

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One comment

  1. Long had a loyal ally and friend in North Louisiana. If we think things are bad now it is still nothing to compare to the 1920s and 30s. Things were bad, real bad, during the great depression. There was an individual that fought for the cause of the Laboring man in Louisiana and the country. His name was Harvey G. Fields and he fought the Bankhead act and called for the replacement of Hugh Johnson as the head of the NRA. Both of these actions happened. He also fought tirelessly for the individual in the courts while at the same time taking down the Governor Leche political system in Louisiana. He was a member of the Huey Long Law Firm, Chairman of the La Public Service Commission, Chairman of the Louisiana Democratic Central Committee and was the Federal Prosecutor of the Western Region of Louisiana. His floor fights at the Democratic National Conventions led to the seating of several controversial delegations. To read more about life during the great depression and several failed federal attempts go to Google Books and search for “I Called Him Grand Dad”. Eventually Fields was not reappointed as Federal Prosecutor following his work to dismember the totally Roosevelt dedicated Richard Leche organization in Louisiana. He was known best for his integrity, honesty and dedication to his causes. Fields was identified three times on Who’s Who in American Politics and his home town of Farmerville presented him with the award for 50 years of practicing law in Union Parish.



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