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It’s been fun guessing what real estate agents want for Christmas this year.
The gadgets and swag are endless, to be sure, but while that premium bottle of whiskey, coupon for a full body massage and cup proclaiming you the hottest thing since Vesuvius might scratch a surface itch, there are a few more gifts real estate agents will be clamoring for long after Christmas ends.
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Without further ado, here’s what Realtors really want this holiday season:
1. For 2024 to be over
Seriously. Let’s just end this and go on with hope in our hearts for a better year in 2025. In reality, I don’t think it could be any worse because everyone is already saying it’s been the worst year since 1995.
In the infamous words of Sergeant Bilko, “I have no feeling from the hair down. Make the bad man stop.” I concur.
2. The assurance that lumps of coal will be equitably distributed
Everyone knows that children who behave badly during the year purportedly get a lump of coal in their stockings at Christmas. Not to mention anyone in particular, but I can think of a few attorneys who might qualify this year. I’m also not thinking “single pieces” of coal — a few dump trucks might be more in order.
3. Lower interest rates
High interest rates are what started the mess we currently find ourselves in (ignoring things like the recession, foreclosure crisis and a pandemic), and most agents I know are hoping to see better rates sooner than later.
4. Brokerages that clearly put client fiduciary needs ahead of their CCP banishment aspirations
This comes under the category of “don’t get me started,” but since I already have, agents — particularly with smaller brokerages — would love to see an end to the “off-market listing grab” being attempted by some of the larger brokerages, which, in my opinion, are putting their Clear Cooperation Policy-ending aspirations of their agents ahead of their fiduciary responsibilities to their clients.
5. More sellers
We need more sellers, especially in high-priced regions such as the San Francisco Bay area.
Given the massive amounts of capital gains, the very realistic fear of not being able to find a replacement home due to the record low inventory numbers, and the massive jump in property taxes when buying a replacement home in California (even if the replacement home costs less), golden handcuffs for those with mortgages currently under 4 percent — sellers are being hit with a number of great reasons not to sell.
Factor in the high costs of getting homes ready for the market and the potential of not getting reasonably priced insurance policies on the replacement property — it’s a perfect storm, causing sellers to hunker down and stay put.
6. An increase in the capital gains tax exclusion
As mentioned above, the current $250,000 deduction per person may be fine in the parts of the country where you can buy a small estate for $250,000.
In the Bay Area, however, even when adding partner’s deductions together for an exemption total of $500,000, sellers who purchased their homes years ago for $200,000 or less but can now sell for upward of $1.5 million are looking at capital gains on over a million dollars. Where’s the incentive to sell?
7. Mainstream media that cares about the truth more than viewership
We’ve seen sensationalist mainstream news reports that are blatantly inaccurate, especially when it comes to news reports surrounding the lawsuits against NAR.
The amount of damage done by these muckrakers is impossible to calculate.
In lieu of mainstream media that understands the facts and reports them as such — how about fines for fake news? Oh, wait, then we might have to fine politicians as well, even those in high office.
8. No more lawsuits
Stop already. Seriously. The only individuals profiting from this are attorneys who are out there looking under every rock to score a windfall. There ought to be laws in the USA — like there are in many other countries in our world – that if someone files a lawsuit and loses — they are forced to pay the legal fees for the other side.
9. 12 days of 5-star reviews
Given how the song “The 12 Days of Christmas” works, that would mean one review on Day 1, two reviews on Day 2 and so on up to Day 12. That comes out to 78 5-star reviews — you can put this one on my list for sure!
The flip side of this would be reviews that actually stick on Yelp — which, in the case of teams like ours, would be far more than 78. For some reason, Yelp believes that close to 150 5-star reviews on our Yelp page should not be currently recommended, while the only two negative reviews (both frivolous) remain.
10. The ability to post reviews on our clients
Nice reviews would say, “The clients were a joy to work with — they responded quickly and were very grateful for our expertise, and we would happily recommend them to anyone!”
Reviews for other clients, however, would say, “Don’t. Even. Think. About. It.”
11. Insurance companies that are willing to move into states like California
Although I realize this would mean significant changes to laws governing insurance companies in states like California, it would be nice to have the ability to locate insurance on a new purchase easily instead of it now being added as a contingency on purchase agreements.
12. Agents who answer their phones
Come on, Santa — we’ve been asking for this one for years now. We need agents who actually pick up the phone. Maybe 2025 is our lucky year?
13. Clients who do not ask for a rebate
Realtors have become a commodity and are no longer viewed as professionals worthy of their fee, in general. This is in contrast to attorneys, accountants — even auto mechanics and plumbers.
Because potential clients believe we are all the same, they look for agents who will “do the deal” for the lowest price possible and ask for a rebate in the process. We want clients who understand our value and are willing to provide compensation without argument.
And I guess we’d have to add that we want to work with Realtors who are actually competent and deserve their compensation.
14. A truth serum for buyers
This is a holdover from last year — Santa has not delivered on this one yet, so we are asking again. Either a serum that would rub off from the documents we hand them or a “detector” like the heat guns that measured temperatures from afar during COVID — whatever works. We just want it. Now.
15. Buyers who understand the new commission rules
We are now required to fill out a buyer-broker agreement before showing any homes, and it would be nice to have buyers who understand the new rules and willingly sign the new forms.
16. Buyer agents who understand the new commission rules
Because we are now required to fill out a buyer-broker agreement before showing any homes, it would be nice to have buyer agents who understand the new rules, know how to fill out the correct forms and can effectively educate their buyers in the new realities.
17. Buyer agents who read
I posted this in 2021: “Listing agents go to great lengths to post critical information for buyer’s agents, including showing directions, instructions for writing offers and so on. Most MLSs provide a confidential comments section that gives listing agents the opportunity to provide critical information to prospective buyer’s agents. All a buyer’s agent needs to do is actually read the instructions. If only.”
I’m still waiting.
18. Professional agents
Many of us were shocked earlier this year when numbers were released by the Consumer Federation of America showing that almost half of all Realtors across the country sold one or fewer homes in the past year.
Agents who have been in the business a while or who can be categorized as “proficient” would love to see the bar raised in 2025 and professional standards dramatically increased. This sentiment was also echoed in the Opportunity Report.
19. Clients who understand that we actually know more than they do
One of my kids has a mug that says, “Do not confuse your Google Search with my Medical Degree.” One of her frustrations is the many patients who actually think that they know more than she does and who will post a negative review if she does not agree with them – even though she has knowledge gained from years of experience in actual practice, a three-year fellowship in her specialty, four years as in intern and all of the years of education required to get her degree in the first place.
Yet a 30-minute dive on Google trumps all that.
It’s the same in the real estate industry, with clients more willing to believe their uncle who sold a house 30 years ago or a coworker who bought a home during the foreclosure crisis.
20. Contractors who show up
We will keep them busy if they just show up on time on the day they promised and stay there until they are done. It would also be nice if they were nice to our clients and cleaned up after themselves. It’s really that easy.
Please, Santa — give us a “Nice List” full of competent contractors — not the “Naughty List” many of us seem to have currently.
21. A mandatory AVM educational class for all clients
We are all tired of hearing what any given client thinks a property is worth based on an AVM (think Zestimate) from some website. We now show up at listing appointments with a document that shows AVMs from four major websites to preempt opinions about value. The prices, in most cases, are wildly divergent. A class for all potential clients would hopefully head this off at the pass.
22. Mandatory truth in advertising training for listing agents who list at ridiculously low prices
We have a number of agents in our market who believe it’s OK to list a home hundreds of thousands under market value to get the highest number of eyeballs possible. One agent in California was fined last year for abuse of this practice, which — at a minimum — constitutes false advertising. We even had one listing hit the market for $1. In my opinion, a property should only be listed at a price the seller is willing to accept. Just a thought.
23. Children who behave at open houses
Call me old fashioned, but I believe that parents should teach their children to behave — especially when in someone else’s home. I know, silly me. Some agents in our area have very specific instructions posted in the front hall of their open homes explaining that those who let kids randomly run throughout the property will be asked to leave.
Rather than a Realtor having to behave like a Grinch and expel potential clients, we want Santa to fix this for us somehow. Maybe pixie dust we can spray at open houses before clients arrive? I know that cat owners can buy auto-dispensing cat pheromone sprayers to keep kitty under control. Do they have such a thing for children?
24. A market rebound in 2025
Also on our list last year was a request for better prospects in 2024. In the words of Agent Maxwell Smart, “Missed it by that much.” Santa, let’s try again, please. Hopefully with better results this time.
Wishing you all a wonderful holiday season, a merry Christmas and a profitable 2025!
Carl Medford is the CEO of The Medford Team.
