Confessions of a Part-Time Real Estate Agent

The first thing that grabbed my attention this morning on my MSN home page (and unfortunately, before a cup of coffee) was the headline Deal breaker 6 signs of a crummy real estate agent. Turns out I agreed with 5 of the 6, but just can't go along wholeheartedly with #4:

 4. Part-time gig. Just because a real-estate agent has a license doesn't mean it's his or her full-time job. And while some part-time agents are certainly capable, "when you put food on the table for your family selling real estate, you approach things differently," says Mike Sannes of Keller Williams-Big Bear Real Estate in Big Bear Lake, Calif. "If your real-estate agent is actually a waiter, waitress or [another profession], then you are probably not going to be happy with where their priorities are."

The author acknowledges that some part-timers can be capable, but pretty much lumps the majority together as not having their priorities in order. Priorities is the key word for me. I am a part-time agent and the top priority in my real estate business is to not take on more business than I can handle comfortably, so that I can give each client full value of my time.

I do have the luxury of an established software support business that I handle strictly over the phone and internet. I'm on call 40 hrs per week, but most projects are scheduled so I can block out my time accordingly. The "hotline" calls generally last no more than 15 minutes; many days I get no calls. So this business gave me the opportunity to find something new to do that I find interesting and satisfying - real estate fit the bill and offered self control over hours spent working.

I have 9 listings right now; 4 of them are vacant land so they often "get shown" without me ever knowing about it. I'm actively working with 4 buyers, but they're all from out of the area, so when they plan to look at places, I'm warned well in advance for scheduling. I have a good number of clients/customers getting automatic notifications from my MLS database when listings pop up meeting their criteria. Most of my clients are aware of my other business; I usually mention it sometime in getting to know one another process. So I have a part-time income from part-time hours and that's just fine for now. My clients are pretty happy, based on the feedback and referrals I've gotten!

The author of the article claims an agent approaches business differently when "putting food on the table." Perhaps so, but the question that popped into my mind when I first read it was what kind of service is provided to clients if an agent is worried about putting food on the table? As a buyer or seller, do I get a feeling of panic from my agent, a sense of worry over the commission, the impression of being pushed to make a decision to "settle?" If I am that buyer or seller, then I'd choose to have a part-time agent dedicated to helping only a few clients than a full-time agent scrambing to to make ends meet.  

Snow Country Real Estate Produces Top 10 Producers!

Snow Country Real Estate proving 2008 a better year than 2007!

A quick look at the statistical reporting the WUPMLS provides us shows that Snow Country Real Estate has sold $3.5 million, keeping us 3rd in sales volume within our board. It's a big increase over $2.3 million in sales at this time last year. We still have 3 agents in the Top 10 Producers list too!

All Western UP offices combined show $20.3 million in sales with average sales amount of $65,000 - compare that to last year sales of $16.7 million and an average amount of $60,000.

Who says the real estate market is down?! In Gogebic County and Hurley, WI we're selling more and the average unit price is up. Not to say some properties aren't having to be marked down in our neighborhoods, but well-maintained homes are holding their own. We're off to a good start in the 2nd half of 2008.

Finding a Voice in Real Estate and Blogging

Just a quick Blog to let you know I'm taking a class regarding Blogging! I'm a real estate agent with a "techie" background so anything I can do to reach more out-of-town buyers via the internet the more I'm interested in learning about it.

I've done simple web site development for a number of years and try to use all the (free) tricks available to make sure my web site gets decent placement in the search engines and adding a blog is one way to do that. I started this blog last winter, mostly writing about infrastructure improvements in Ironwood and about Snow Country Real Estate and the "state of real estate" right now in the Upper Peninsula. I've kept it pretty impersonal, only did one personal blog about my frozen pipes in January.

The class I'm taking (4 weeks down and 4 to go) offers a lot of helpful hints on creating a blog, making it interesting, finding your "writing voice" and gearing it towards your readers. Hopefully, by the time the course is done, I'll be starting to write more entertaining information about Ironwood, Hurley and the surrounding area. My goal is to provide as much info as possible to people looking to retire here, relocate, or buy a vacation place, but I also want my blog to be a quick resource for local people to use to get info about area activities or web links and most certainly, for real estate needs!

No "Big Bubble" in Ironwood means no "Bubble Burst"

Half of 2008 is gone already - - - Snow Country Real Estate is #2 in sales out of the 8 agencies in our area! Total sales are just under $18 million, well above the $14 million mark of 2007.

Most out of town buyers I receive calls from mention how bad the real estate market is whereever they live and assume the same up in this area. I always have to tell them that we never experienced the "big bubble" like so much of the country and so we never got hit with the "bubble burst" either. The sales numbers do support my comments.

2008 has been a good year for not only the company, but individual agents. We have 5 agents in the top 20 producers (3 in the top 10), a definite improvement over last year. I have a closing scheduled for later in July and another couple of buyers who are close to making decisions, plus a few others who are just starting to look, so I hope to improve my own standing dramatically by the end of the year!

Local Real Estate Sales are Climbing

Snow Country Real Estate still ahead of 2007 sales!

Reports from the Western Upper Peninsula MLS Board show total sales dollars for this year in our region is over $10.6 million with SCRE 3rd in sales volume. The region, as a whole, is ahead of 2007 by $3.1 million!

We have 3 agents in the firm in the TOP 10....and the file cabinet in the office which contains "to be closed" transactions is still looking very full.  

Spring is generally the season when people get serious about selling or buying, so I've talked to quite a number of people in the past month. The comment I hear most often is "the real estate market is really down" and fortunately, I've been able to honestly answer that our local market is stable and rising. I always give specific examples of what I'm working on or have just closed and also mention what's going on with the other agents in my office. Everyone reacts with surprise to that info, but are usually pleased. Real estate may be bad news in the national media, but "real estate is local" and the Ironwood, MI and Hurley, WI area is definitely holding its own!

Retirees Like Ironwood & Keep Sales$ Up in the UP!

Learning Helps Earnings - ABR (Accredited Buyer Representative) Designation

A Little Brag
I received the ABR (Accredited Buyer Representative) designation on March 11, 2008 and now join my Broker, Arlene Schneller and fellow agent, Karen Gullan as the 3rd agent in our Snow Country Real Estate office to earn the ABR designation. I took the 2 day course in December 2006 which also required an elective course to accompany it. Because my background was in software and computer technology, I took the e-PRO course and completed that in July 2007. Additional requirements for ABR were to complete 5 transactions where I acted as a Buyer Representative. My 5th transaction just closed on March 5th and I had the paperwork all ready to send in! 

• Evaluate the needs and wants of the buyer and locate properties that fit those specification.
• Assist the buyer in determining the amount they can afford and show properties in that price range.
• Assist in viewing properties - accompany the buyer on showings or preview properties to be sure it meets the specified needs and wants.
• Research selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase.
• Advise the buyer on structuring an appropriate offer to purchase the selected property.
• Present the offer to the Seller's Agent and the Seller on the Buyer's behalf.
• Negotiate on behalf of the buyer to help obtain the identified property - keeping the buyer's best interests in mind.
• Assist in securing appropriate financing for the property.
• Provide a list of potential qualified vendors (movers, attorneys, home inspectors, plumbers, etc.) if any of those services are needed.
• Most importantly, fully represent the buyer throughout the entire real estate transaction.

Why you should use an Accredited Buyer's Representative (ABR)  
Why should you look for the ABR designation before looking for a home? These three letters after a REALTOR's name tell you that you will be working with buyer representative who is committed to your best interests.  The ABR Designation is awarded to those REALTORS who have met the specific educational and experiential criteria needed to provide the high level quality service required by REBAC (Real Estate BUYER'S AGENT Council).

Regional Sales Picking up Speed in 2008

We've only passed the 2nd month of 2008 and Snow Country Real Estate is up over 30% in sales during the 1st quarter of 2007! Our average per transaction is $119000 for '08 vs. $46000 for '07.

On top of that encouraging news, 4 out of our 6 agents are in the Top 10 for sales volume. Sad to say that I'm not one of those 4, but I do have several transactions "in the works" and I plan to join the ranks of my top producing associates as soon as possible!

A very positive piece of real estate news is that our entire Western Upper Peninsula MLS board has sold over $6 million dollars in the first 2 months of the year. Last year, the first 2 months saw only $2.5 million in sales. Some of the large increase can be attributed to commercial sales this year, which just means more jobs in our area and that brings the potential for more residential sales.

In talking to the various out of town buyers I've worked with in the past several months and in reading lots of publications and blogs, I understand that real estate does seem to be depressed in many areas of the country. However, Gogebic County, MI and Iron County, WI do seem to be holding their own, if not outright picking up speed.

I plan to analyze our sales statistics - for our company and for our entire board - on a monthly basis and will post what I find early each month.

Sales Standing - Performance Counts!

Snow Country Real Estate finished 2007 as #3 in sales volume in our MLS, but our average sales dollars were higher than anyone else within our Western Upper Peninsula board: $103,000 vs $66,000.

We are currently #2 in sales for 2008 and we're gunning for #1 by the end of the year. What's remarkable about our standing? Again, it's the average sales dollar we've generated! Our sales are averaging $142,000 vs. $54,000 within the WUPEN board.

Two of our agents (unfortunately, not me......yet!) are in the top 10 producers for the 2008. Granted, it's early in the year, but we've had a couple of record-breaking years and this just motivates us to continue the trend.