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In a recent article, the founder of a leading online real estate referral site, tried to make the case to beleaguered real estate agents that buying leads is good for their business and intimated that failure to buy these leads from third party companies (such as theirs) is to miss out on business.

First, let's start with the basic premise - I agree with them that there is a cost to agents of obtaining business. Whether they do old-fashioned farming, mailings, phone calls, or put your resources into your client base and get your business from referrals, business has to come from somewhere and it has a monetary cost.

The papers and newsmagazines have been filled of late with articles about the crisis in Sub-Prime loans issued over the last few years. Seems as though many buyers took out loans that they clearly should not have: loans that sucked them in with a great interest rate for the first year or so and then boom! A monthly payment that doubled or worse and sending many new homeowners into forclosure and financial ruin.