REPOSTED DIRECTLY FROM INMAN NEWS. THIS CONTENT HAS NOT BEEN MODERATED BY WFG NATIONAL TITLE.
The value of the Realtor brand
The value of the Realtor brand is substantial. Those that question the brand do not understand the value and do not use it properly in their business. They do not take advantage of services provided. That is unfortunate for the industry. NAR the average member does not use or understand the value and has been working to correct this issue. When 20,000 of 1M+ show up for a national convention and 5000 show up for a free annual Legislative convention in DC, is more a reflection of 500-800K agents that do zero to three transactions a year and may even mispronounce the name. I would happily double or triple the price of membership it took the bottom half of agents out of the Realtor brand. This is a common feeling among top producing agents that do distinguish themselves by from the less qualified real estate agents that don’t use the Realtor brand properly in their business
Tale of 2 markets
I work in two markets. One that follows the law, and board rules, and the other that many of the agents are disengenuous, and have illegal behaviour (refusing agents with buyers access into advertised apartments etc). Which gets the higher prices, the faster times to contract, and the smoother deals? The one that follows the law/rules. In the other, it is clearly apparent that majority of the advertised listings not on the MLS are owned by agents that are trying to get both sides of the deal by avoiding any buyers with agents, or are utilizing bait and switch tactics to acquire buyers. So, I welcome Zillow’s change. It indeed will cut down on the 25-30% of the Zillow listings that I would call fake (really fake, in-contract or sold) that they list as active for bait and switch purposes, although it will hurt my conversion tactic of explaining this to buyers who call me looking for an honest agent!
Proud to be a ‘reeltah’
Realtor, is made up from the word realty and or, not “tor”. Realtor like Grantor or Mortgagor are all folks that give something up to make something happen this is the “or” part. I have been all over this country and Marc you are right everyone bastardizes the word but so what, they get it. If you all want to give it up cool, I would like sole and exclusive use because the folks I deal with still understand what ethics mean and they value it. Proud to be a reeltah and always will be!
The ‘surprise’ house
Part of the buyer’s consultation at my office is an exercise we do w/clients to discover the emotional benefits they are looking for in a home. It’s not the typical interview on what you are looking for in terms of number of bedrooms, baths, amenities, etc. I warn my clients that it may feel more like a therapy session than a typical real estate consultation and ask permission before I continue. Getting at the emotional benefits they are looking for helps me zero in on what they will actually fall in love with. When setting up a tour of showings, I will almost always add in what I call a ‘surprise’… something that doesn’t meet what they say they want when it comes down to what you can search for in MLS. But, meets or exceeds the emotional benefits they are looking for. And, then, once again, ask their permission as to whether or not they actually want to see it. I’m proud when my ‘surprise’ ends up being the property they actually fall in love with and want to make an offer on. It means I’ve really connected with what will make them happy. I can’t take credit for this alone. I have a great managing broker who taught me this technique. But, ultimately, the value is not in selling more, but making my clients happy. And, tapping into what is human.
‘Shocked of the demands of her time’
Thank you Stacie — spot on as usual. Real Estate essentially is a service based business, in service of our clients, their investment and their futures. Not something to dabble in during our spare time, if someone gets that impression not only will her clients be unhappy but the “little woman” that keeps this profession on the “back burner” will be shocked of the demands of her time.
People expect ethics, whether you’re in a club or not
Clasen Real Estate Advisors · Commented on The case for killing the term ‘Realtor’
Wrote an offer on a new construction plat. One spouse signed it but before the other one signed, the couple re-visited the plat and the “Realtor” site agent told them he was friends with the builder and could give them all the time they needed to sell their current house (which I’d done a CMA on). They went for it and I was out time and 20k in commission. After checking the “code” it appeared without a buyer agency agreement I had no case. So much for a higher standard, the “code”, and paying dues. If my agency didn’t force me to be a member. I wouldn’t be.
People expect high standards and ethics whether you’re in a club or not.
Productive, or permanently distracted?
I stumbled across this article and really liked it. Then I noticed a link to a “Related Article” and went there and read some more about being more productive, and that is where I found another compelling headline, and then…
ROFL – the labrinth of the web. You’re cracking me up!
Smarter, not harder
I’m 55 and I have a 5 year old. I look after him 3 days a week until noon. I have 2 other children who get off the bus at 2:37 and 2:47. My wife works as a teacher. My mother in law is 82 bless her heart and helps out tremendously. I work from home and balance quite well. I have made 6 figures over the last several years by working smarter not harder. It’s not easy but I can be done.
A profession not a hobby
This article is the poster child for what’s wrong with this “profession”; it’s not a profession with this approach, it’s a hobby. You’re endorsing a woman (not a man) to represent a client in one of the largest – if not largest – financial transaction they will be involved in – even it’s just once a year.
I get the gist of the post and of course self sufficiency is it but you also perfectly illustrated why professional agents that are true pros can never out run the clown show public image. Done correctly, this is a profession, not a one off hobby.
A better standing with the public
Good article Laura. If the majority of agents took the advise you point out here, our industry would definately have a better standing with the public. Taking a client who has unrealistic ideas about the listing price is always going to be a top issue with agents and every listing agent runs up against it frequently. The seller is adement that you try their higher list price thinking that they can always come down in price later, ignoring all comps about a realistic market value. The agent agrees to their higher price thinking that maybe he or she will be able to negotiate a lower list price at a later date. Of course this is the worst strategey for both the seller and the listing agent because the market at large will pass over the property and dismiss it from their selection process altogether. I have a much better way to present a winning strategy for both the seller and the listing agent that works in situations like this.
Top comments are compiled by Inman’s editorial staff in no particular order.
The views and opinions of authors expressed in this publication do not necessarily state or reflect those of WFG National Title, its affiliated companies, or their respective management or personnel.