Many people don't understand what a REALTOR does every day.  Many REALTORS don't understand it.  First, no two days are the same.  Parts of the day are spent marketing for new business.  Parts of the day are spent working with new clients.  Another piece of the day usually goes to following up with recent clients. Research can take up a great deal of the day.  There's showing property and counseling.  The most time consuming portion of our work is usually taking care of the business we already have.  In other words, getting the contract thru closing.

Yes, a REALTOR really earns their fee AFTER the offer is written.  A REALTOR negotiates on behalf of and with their client.  Once a sales contract is in place the REALTOR begins scheduling inspections, appraisals, escrow, closing and anything else required for this transaction.  In addition, the REALTOR works with each of these service providers on behalf of the client. Imagine that you are a service provider with the title company, appraisers office, etc.  Will you want to do well and work hard for someone who brings you multiple transactions throughout the year and understands the system?  Or, will you drop everything for the person who doesn't really understand the details and you probably won't see again for 3-7 years if at all?

As a buyer who purchases property on less than a daily basis, are you familiar with all of the lenders and the different loan programs offered by each?  Yes, different lenders can offer different types of loans.  Generally, their programs must fall within the federal guidelines.  If not, the lender won't be able to sell the note in the secondary market.

As a seller, wouldn't it be great if you had someone who knew these things to advise you on if the buyer might be able to perform under the conditions of the contract?  Do you know what to ask for?  Are you comfortable asking a stranger about their financial situation and credit history?  Will you believe what they tell you?

Obviously, not all REALTORS are created equally.  You should interview REALTORS that are recommended to you by people you trust.  Do business with someone who speaks to you respectfully and in terms that you understand.  Choosing a REALTOR is an important step.  Choose someone who you are comfortable with that has experience and knowledge in real estate.

Good luck!

Your business is growing.  Income seems steady.  You're at that point where you may need an assistant to get to the next level.  Plus, you're family misses you and the dog barks at you.  But, what if.......?

It's a tough decision.  Feels like you've just began to support yourself and now you must consider supporting an assistant.  Here are some things to consider:

•1.)     Am I working as efficiently as possible now?  If not, work on that before hiring someone.  Get some systems in place and get comfortable using them.  Having good systems for every little thing you do will make you work smarter not harder.  You'll be amazed at the difference it makes.

•2.)    Am I really a leader?  It's ok if you're not.  Some people just don't play well with others.  They want things done their way in their time in their world.  That's ok but it makes it hard to lead and grow staff.  If you're not a leader, learn to be one.  Take a class or seminar before you hire someone.  If you don't; you'll both end up disappointed.

•3.)    Who do you hire?  Before you place an ad or interview, create the job description.  Put it in writing.  Also, budget.  How much time do you need out of an assistant? 10 hours, 20, 40?  Figure it out.  The written job description should help.  Take the amount of money you can spend and divide it by the number of hours you need.  Is this a reasonable hourly rate for what you're asking of someone?  Again, work it out.  When you know what you need and what you can afford it is much easier to advertise for it and hire the right person.  Note*Tell your new hire what to expect.  If you are moody.  Let them know up front.  If you are a perfectionist, let them know.  If you fly by the seat of your pants, warn them.

•4.)    If you only need someone for a few hours a week you might consider ‘sharing' them with another agent in your office.  This is a great solution but it does require that you work out the details with the other agent (and put it in writing) before you begin looking for the assistant.  The assistant will then be required to keep detailed time sheets showing what they were doing and for whom.

These are just a few tips to get you on the right track.  I know it's scary to hire an assistant but you might consider how scary it will be if you don't.

Good luck and good selling!

I've heard REALTORS say it for years.  We all know it's true.  If business is slow, plan a trip.  Things are sure to pick up while you're trying to take time off.

It makes sense that what is really happening is that since you're busy trying to do something else, you notice each little thing more.  Maybe that's true.  However, it seems to me that the opportunities come knocking when I'm trying to get out of town or am already gone.  So what!  With technology today, I can still work whether I'm in the office or not.

Last week I was in Washington, D.C. with NAR.  I worked hard all week and most of my clients either didn't know I was out of town or just kept forgetting.  They were able to forget because I was able to take care of them.

So, the moral of the story....get out of here and have some fun!  Your business needs you to leave town!

Have a great time.

Hi Everyone!  I'm rushing around trying to get my business taken care of before I leave for D.C.  It's time for the NAR Hill Visits and I'll be there for a week.  So much to learn....so little time.  Anyway, I thought this week I would share a 'funny' with you from a couple of years ago.  I hope you enjoy it!

From March 9, 2006

Hi Everybody!

Many of you are aware that I've wanted to fly for some time.  I finally got the money together and figured out which school and then the weather has delayed me no less than five times.  Well, I took that first amazing flight today and if you're interested in how it went; I'm writing a short version and one with a little more detail.  If interested, just read on. 

Short Version:  I flew.  I puked.  We landed and I can't wait to go again.

 A little more detail:  When we called the weather phone, the winds were 11 knots.  We did the preflight check, which I find very calming.  I'll always do that.  We get in the plane and I taxi down the runway.  I'm a natural.  It wasn't perfect but I was really good.  Then, we did some more checks and I took off.  It was better than a roller coaster.  One of my biggest thrills ever!  At this point, we hear in our headphones that the wind has kicked up to 21 knots.  Things are a little bumpy but hey, I'm flying a plane!  It was all I could do to keep from giggling.  I learned to make a right turn.  It's easy!  I need to learn what all those knobs and buttons are for but I'm a natural.  Did I mention that I really loved it?  I do. By the way, we now hear that the wind is at 37 knots.  So, we hit a few bumps and bounce around like we're being dribbled.  Pretty soon I decide that I've shown off enough and the instructor can take over.  I'm feeling a little queezy.  Shortly thereafter, I ask if there's a bag.  He says "Sure" and starts searching.  Two minutes later I realize that from this point on Barf Bag will be added to my preflight checklist.  You don't want the details on the rest but we made it back to the airport and the instructor landed us safely.

He felt so bad about taking me up when it was too windy that I get to fly free next time.  There will be a next time.  Do you think that if I get sick again I'll get another free flight?

It may be that a blog is not the place to vent....but here I go.

It seems that lately every offer I present or receive has a combative agent on the other side.  I feel like Rodney King, "Can't we all just get along?"  Have these agents ever considered that often what is in the best interest of the client is for the REALTORS to work together towards a common goal?

I certainly do not advocate working against your client or leaving something 'on the table' that could be saved for the client.  However, I do not believe that in order to get the best deal possible for my client I have to treat the other agent as an adversary.  Isn't there a saying that goes "...more bees with honey...."?

It seems to me that no matter what kind of market you are in (up, down, seller's, buyer's, resort, land, development, etc.), having a good working relationship with the other party is a win-win.

So, here's the point...what do you think?  Is everybody experiencing this?  Is it nationwide or just a handful of agents that I've dealt with recently. Are new agents learning this behavior in school?  Is it a generational gap?  I suppose it could be me but, of course, I don't think so.

Please let me know what your thoughts are.

We certainly have a lot of conventions, meetings, classes and seminars.  With state, national and franchise conventions alone, a REALTOR could spend a great deal of money on travel, hotel and registration fees.  This also takes quite a bit of time when we could be out listing and selling.  Why are these events so popular?  Why would we spend that much money on a convention rather than advertising?

I've listed my top ten reason for attending. Be the way, I truly believe that every penny I have spent has come back to me.

10) Prizes:  At the expos, exhibitors give away some great prizes.  you could win cash, computers, trips, real estate classes or marketing materials.  many exhibitors also give away free stuff to everyone who comes by.

9)  Expo product pricing:  Many vendors offer reduced pricing for the duration of the convention.  Some of these are large discounts on minimum orders.

8)  Deductible Vacation:  These trips are business. Don't fool yourself; you will work.  But talk to your accountant about what makes the trip deductible.  Many REALTORS find that they can deduct a good percentage of the entire bill.

7)  Networking:  I am surprised at how often I have a question about real estate in other cities and states.  Also, occasionally I have a question that I don't want to ask the competition in my area.  I've built a database of REALTORS in every state and hundreds throughout Texas.

6)  FREE education that you can't get locally:  Conventions oftne offer short MCE courses.

5)  Influencing Policy and Actions:  When attending conventions, you're there with the REALTORS who have come to sit on committees, boards and in other leadership roles.  It is a great opportunity to share ideas and suggestions.

4)  Referrals:  Every national convention I have attended has paid for itself through a referral fee or a referral commission.  Connections I've made at the state convention have also paid off.

3)  National and Designation Courses:  Many national and designation courses that are rarely offered in my market are offered at conventions.  These are great classes that will sometimes count toward multiple designations.

2)  Knowledge about NAR and information about statewide and national issues facing Homeowners and REALTORS:  You will know more than most about what's going on at the associations and in the industry.  Your peers will respect you and look to you for information.  Your clients will also.

1)  Industry Involvement:  This is our industry and to be successful, we must immerse ourselves in it and its culture.  Any real estate course, state meeting, national meeting, committee, board, convention or organization that you can participate in will give back to you more than you put in.  Real estate takes care of me and my family and I intend to take care of it as well.

There is no doubt that you will become a better REALTOR because of your involvement.  With every meeting, your knowledge will expand and you will improve your abilities.  Your clients benefit from this and so will you.

You obviously can't attend everything, but do what you can. The majority of people you will meet at these gatherings are top producers, high earners and generally happy people.  You'll find the people in this crowd to be independent, intelligent, self-motivated, reliable, honest and educated.  If you hang around these REALTORS for a bit, you may start to emulate them.  You know what they say:  Birds of a feather flock together.

I'd like to hang around with you. I hope to meet you in a committee meeting, real estate class, or convention soon.

Everybody who's been in the business any length of time has worked ‘FSBO's' at some point.  Most of us hate it.  Mainly because we don't understand them.  I mean really, are they just stupid?  I always wondered why they would risk that much to save a few bucks right now.  Don't they know how much it will cost them in the end?

                You know what... They don't know.  Part of our job is to tell them without sounding like we're trying to scare them or threaten them into something. The best way to do that is to give them the facts.

                As REALTORS® we have branded the For Sale By Owner.  Think about it.  When anyone hears the phrase "For Sale by Owner" or "Fizbo" (FSBO), they think of people selling their homes without an agent.  It's probably as recognizable as "You can't eat just one."  We've done this to ourselves.  So, let's quit it.

                After reading an article in REALTOR® Magazine a couple of years ago I realized the error of my ways.  Since reading the article I never say "FSBO".  I always refer to them as Unrepresented Sellers.  It's amazing the difference.  They get it.  You can tell by the look on their faces.  I'm happy to say that this works.  It's the easiest thing I've ever done and has worked better than anything else.  Just those two words....Unrepresented Seller.

                When a seller hears these words, they stop and consider exactly what they are doing.  You don't need to be pushy.  They will start to ask questions which you will answer honestly.  You will share with them that most buyers are represented.  Even the buyers who aren't have a mortgage company that is making sure they don't pay too much for the property or any fees that they could possibly push off on the seller.

                Now that we've brought it up; does the unrepresented seller really know how to handle the buyer's mortgage company?  Do they know what they have to share by law and what they don't?  Do they know what is customary for them to pay and why that is important?

                As a professional, you know all of this and more.  I encourage you to go make a "FSBO" call today.  Just change your language.  Use your script.  Whatever works for you but add in the term "Unrepresented Seller" and take out the brand of For Sale By Owner.

                Good luck and let me know what happens.

                                                Leigh@LeighYork.com