Friday, July 9, 2010

His "Real" Job

I bring up that I am a real estate broker to as many people as I can during random conversations. Well I was waiting on line at the grocery store, and struck up a conversation with the guy in front of me. When it came around to what I did for a living, he said, "Oh do you know so and so?" I said I had heard of him, perhaps seen his listing(s). He says, yeah he sells real estate too, well his real job is...

His "real" job? The median price of a home in Sullivan County right now is down quite a bit, I believe it is around $150,000. The average real estate commission is six percent. So an average commission is nine thousand dollars. Attorneys who sue people for a living would have to settle a forty thousand dollar law suit to collect that same amount of money. A dentist would have to do extensive work, implants or intricate bridgework, to charge that. Even though we have insurance, I saw the hospital bill, my wife's doctor's fee was around that for her cesarean. We could go on and on.

And yet, with real estate, people are ok with a part time, minimally educated agent who knows little about the market, and less about how to make a deal work. It continues to boggle my mind. How many times have you heard, "Oh cousin Jack has his license, so we listed the house with him."

I do think that obtaining a real estate license is too easy, so it is partially the state's fault, but sellers need to be smarter, and do a little legwork. Cousin Jack will cost you a lot of money.

I guess this post is turning into another complain-fest, but the reason I bring it up, is anytime I have to deal with these weekend warrior agents, it drives me crazy, because it makes my job so much harder. One of my shortcomings is that I do not suffer fools gladly. I know..attract more flies with honey and all that crap, but I have a real hard time being patient and hand holding. These are the agents who over show a house, who must be present for all showings, who call incessantly for feedback, who get indignant if your buyer does not see the "gem" of a house they same way they do.

A buyer may not know for sure he is going to buy a house right away, but on a house he doesn't like, he knows right away. There is no reason to be polite, and follow the listing agent around and oohh and aahh over closet space etc., and to take that personal if I cut a showing short? Well sorry.

I've had it happen to me, and the very next person who looked at the house bought it. I didn't design the house. Doesn't hurt my feelings.

I guess I can just make this a word to the wise. Hire a professional full-time agent with experience. Anytime I do a referral, I call the office, and ask for the top producing agent. That way you are getting the best.

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