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BrokerIPTV: We are talking with Larry Simpson today,
former owner of Fuller Towne and Country Properties and real estate
broker. Larry, welcome to the show.
Larry Simpson: Oh, thank you for inviting me.
BrokerIPTV: All right.
This is not an easy economy for anybody.
It doesn't matter if you are a real estate broker.
Larry Simpson: Yeah.
BrokerIPTV: But are you worried about the market and are
you worried about being a real estate broker in this economy?
Larry Simpson: I am and I am actually primarily worried
about all those folks that I sold homes to over the past couple of years that
are having a very, very difficult time making it in today's economy. They are struggling to sell their... to resell
their homes, that they are having job problems or it is just that it is a very
tough situation and the sooner that we can put together something in Washington
and Wall Street the better. I am very
concerned about this.
BrokerIPTV: Obviously we all had limited knowledge on the
outside looking in and what was being negotiated in Washington, but were you in favor of the
bail out plan?
Larry Simpson: Well, you know, I am like most people. You know, you only know that what you can see
on the news or read in the Wall Street Journal, but it appears that there was
no other option. I am not in favor of
that kind of a policy, but by the same token it looked like this was a once in
a lifetime catastrophic situation that had to be dealt with.
BrokerIPTV: How does the economy recover in the real
estate market from here? I mean what's
the recipe you think? I mean you are not
an economist, but you have an opinion.
Larry Simpson: Right.
Right. Well, my opinion is that
our numbers in Denver are far better than the
majority of the United
States.
Denver
is a great place to live. We are still
having people relocate to Denver
even in this market. I would say that Denver is going to fair
better than the majority of the country and the key to it is lower levels of
inventory. It is the age old issue of
supply and demand. We don't need to
build anymore for a while and we certainly don't need to be putting your house
on the market if there is any way to avoid it at this time. It's a supply and demand issue and when that
gets more in balance, I think we will be on the road to recovery.
BrokerIPTV: And if you are a realtor in this market, if
you were still employing all those 150, what do you tell a broker to survive?
Larry Simpson: Well, I am currently still responsible for
helping out with the sales meetings and I meet with brokers on a daily
basis. Right now it is basically you
know pull back on your expenses, don't be you know spending any money
unnecessarily, sharpen up your marketing campaign and make sure that you are
well diversified. This is... we are a
small, niche player in the high end for the most part and that part of the
market is really just in the past few months has really slowed down. I have encouraged everyone to actively pursue
other price ranges and other areas that they may not normally see themselves
working in, but diversity is the key in this market.
BrokerIPTV: How about a forecast for '09?
Larry Simpson: Flat.
I am forecasting flat. All our
numbers that we are putting together is going to be relatively flat. We are going to see some surge. I don't think the election is going to have
as much to do with it as I think the lawmakers getting back to work and putting
the next, whether they call it a stimulus package or a bail out or whatever it
is, when they get that put together, when they get this housing bill resolved,
there is... when that all comes together, I think you are going to see some
relaxed interest rates, lower interest rates and relaxed lending standards
again, not to the way they were, reckless, but at least relaxed from where they
are today and we will see I think an uptake in sales.
BrokerIPTV: Great information.
Larry Simpson: Well, thank you for having me.
BrokerIPTV: Thanks so much. Appreciate it.
Larry Simpson: All right.
Posted on October 31, 2008 12:05:29 by  Mark.Eibner
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