As a business, real estate and mortgage consultant, I'm always being asked for a prognostication of the market place. When asked this question (as with most other questions) my typical reply is, "Why do you ask? How does it matter?"

As is typical, those asking this question are looking for a more insightful and deliberate response. But seriously, if you keep that question in perspective, your answer really makes no difference.

When a real estate agent asks that question they're either trying to determine how much longer they should stay in the business, or a prospect has asked them and it would be helpful to hear from someone who consults throughout the country. That’s a dangerous approach. 

Regardless of the market, if you're buying property for a primary residence you never want to buy an overpriced property, but that being said, a primary residence should not be treated like an investment property so if a prospect is buying at fair market value usually appreciation will follow at some point. 

Yes, I'm more than casually acquainted with the 2008 (and on) market crash. For those of us who were astute to anticipate this debacle (I'm trying to be polite), few of us could have predicted the severity to follow. 

If you bought a residential property to flip, well, that's not a primary residence — it's an investment property. Good market or bad, a real estate agent earns a commission when a property is sold and closed. The commission is earned regardless of the property valuation in the future. Real estate agents are not soothsayers (but don't tell them).

Let's look at the financing aspect of a transaction. For those of you that have been in this business for more than an hour-and-a-half (or if you're one of those rare birds that actually reads) you will have experienced interest rate fluctuations, changes in qualifying rules and documentation requirements. 

Do they change much? You bet they do! These and other such changes are a given.

Loan originators should be able to function in any mortgage marketplace environment. And, like that real estate agent, the loan officer will usually earn their compensation (or be recognized in some fashion) when a loan closes and funds.

Rates moving up or down in the future will not affect any of that.

Getting back to the title of this article, "Who cares?" No matter if it is a good market or a bad market, there is still a handsome living to be earned by those that are able to adjust to changing landscapes.

In fact, I always prefer a challenging market (real estate and/or mortgage) because while others are bemoaning their plight in life, I'm advising and training real estate and mortgage salespeople how to earn money.

In an article I authored when we were in the middle of the housing crisis, I emphasized the title, which was, "Don't Survive. Succeed!"

My seminars with this theme are always well attended. It's important to consider market fluctuations in any business, but the key is to be able to function and perform for your client/prospect in any environment.

Don’t curse the darkness; simply, turn on the lights.

Stephen Greenberg is the CEO of Synergistic Associates Inc., a national sales training and coaching organization. Steve can be contacted by email at or by phone at 954-234-4320.