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January 2009
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Ever wish there were ‘three strikes and you’re out’ in real estate? I have. This week, I heard, saw or observed three different strikes, with three different agents, and they all made me say: “Get Serious—or Get Out of the Way!”
Agent #1 is a selling agent. She had buyers who wanted to go back through a house for the third time before making a decision. The listing agent knew this, and anxiously called for a report. The reply: “I waited five minutes—they were late—they’ve seen that house; if they want to buy it, they will.” Anyone out there want a buyer badly enough to wait for more than five minutes? I thought so!
Agent #2 is a listing agent. His MLS sheet states: “Deed restrictions; on file in office.” Selling agent asked for them last week, then again early this week, then again mid-week. Selling agent explained to listing agent that his buyers are very interested but want to review these documents before signing a contract. The property has been on the market 180+ days. I’ll bet the sellers want to sell it. The last word the selling agent heard, from a secretary in the listing office was: “Oh, I have to stop by the courthouse and pick those up for him. We don’t have them yet.” So….the documents that were on file in office were apparently on file—in the recorder’s office. Sloppy real estate! Anyone out there want a saleable listing badly enough to do your homework and know what you are selling? I thought so!
Agent #3 is a listing agent. First of all, the selling agent called her and said the buyers are ready to go on a $300,000+ sale that has been pending since early December. She didn’t think they could close that quickly; she thought the seller needed ‘more time’ to get her stuff out (the seller moved last fall and took most of her stuff). Then, the listing agent asked about fuel oil proration. The selling agent said: “Read the contract, which my client’s attorney prepared and you reviewed with your client. It does not call for fuel oil proration.” The listing agent’s reply: “Oh, that’s my fault, I must not have gone over that with my seller. She’s going to be really mad.” Anyone out there who thinks that part of your job—a big part of your job, in fact, is reviewing contracts with your clients before they sign them? I thought so!
In all three situations, if and when a contract goes to closing, half the agents received compensation will have not really earned their keep. They will have done less than they should have, and in some cases, the sale will never happen, due to incompetence, laziness, or a combination of the two.
Here’s my point, folks: it’s an ugly market out there, but those of us determined to sell real estate have an uphill battle, not with sellers and buyers, or lenders and title companies—but with our colleagues. If you are in real estate, do your job, do it well, and treat every buyer or seller like they are the most important client you have. Because they are. And if you are not willing to do your job, get out of the business and let those of us who are willing to do the job have the business. Work hard, work competently, do your job—and you will prosper.
Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com
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It's the New Year (actually January is coming to a close) and we see the usual changes in real estate this time of year. Across the country, if dues are assessed on an annual basis, many agents are hanging it up. It was fun while it lasted (2000 through 2005), but lately, it's been too much like work. My take: I'm the airline attendant to these folks: "Bye-Bye". I've always said our business is no place for sissies. Yes, we had some easy times in the early part of the century, but it's more like real estate as I've known it for 30 plus years now-it's a great business, but the only place success comes before work is in the dictionary.
Along with the agents leaving the industry, we have musical chairs within the industry. This one is opening his own office; this one has left to manage a branch office, that one is changing brokers (again!). Some of this movement is healthy. Some of it is overdue. I just observed an agent make a move that will, in my opinion, better her career-wise and reputation-wise, and all I could think was: "What took you so long?" The former broker this agent worked for did not enjoy a great reputation with everyone, and she had gone as far as she could go in that company.
Another agent I know struck out on his own. I admire that, even though my experience tells me a good agent can make more money when he doesn't have to be bogged down by the day to day obligations of running a company. On the other hand, this agent was at a family-owned business, and he wasn't family. They don't say blood is thicker than water just because it's a catchy expression.
Then, there's an agent I know who has now moved to the seventh office in ten years. No matter what, no matter where, it doesn't work out for her. Personality conflicts; the broker is unfair; the advertising policies aren't right; the other agents steal her customers, etc. etc. etc. Her belief that a new office will solve all her problems is as silly as the seventh broker hiring her….or the fourth, fifth or sixth. Maybe even the third. She's the Liz Taylor of real estate offices, and she's being enabled by brokers who don't stop to ask themselves: "What do I do here at my company that is that different from the last nine companies, and will keep her happy?" Anyone can see that a new agent can make a mistake, and pick the wrong company. But to pick the wrong company six times?
The merry-go-round just keeps spinning, though. By spring, we will have more
agents who have left the business, plus a fresh crop of newly licensed agents
certain that being in the million dollar club means you are a millionaire. The agents
that you don't always notice in this business are the consistent ones. They are the
ones who list and sell, and list and sell, and keep plugging away at it. They try new
things. Sometimes their brokers really annoy them, and most of the time, they roll
with it. They are the backbone of many real estate offices because they aren't
divas and they aren't flashes in the pan. If you are new to our business, here's my
advice: find one of these agents-and emulate them! And if you are a broker,
appreciate them. They don't throw tantrums, like the divas; they don't suck you dry
and then leave you for your competition, like some; and they don't take an
inordinate amount of time learning the business, only to decide it is way too much
like work and they are going back to a 'real job'. Cherish those agents-they are
your treasure!
Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com
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