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The post that just kept growing and growing and growing...

photo courtesy of Alex Barth

A post in reply to a post in reply to a post in reply to a post.

Every so often on ActiveRain, a single post becomes larger than life and spawns new posts that feed off of each other. I love the idea of these posts taking on new life and expanding the topic deeper and wider each time. This post is no exception.

It all started when...

Carol Culkin posted "Get A Job? - Realtors Who Have To Do, What They Have To Do..." dealing with the idea of agents having to moonlight or take part time jobs to carry on and keep themselves alive in tough times.

Lenn Harley replied with "THERE IS DIGNITY IN ALL HONEST WORK." In her post, Lenn brings up the fact that the "system" uses up many agents, bleeds them dry, and then leaves them with nothing.

Steve Shatsky followed up with "Are New REALTORS® Prepared for the Realities that Face Them?" which expanded upon Lenn's idea that new agents are left with little other than an empty bank account and a stack of business cards, because no one taught them how to be a business.

My side of the story.

As a new agent (well, I'm not as new as I used to be), I agree with Steve. What are we teaching new agents as they step into the big world of real estate that will help them stay in the business and (hopefully) thrive in the business? If we don't help them (and me!), we can say goodbye to innovation and fresh, new outlooks on our industry.

Which brings me to our various state associations and our very own National Association of Realtors®. In a recent email exchange with someone I respect very much in our industry (I leave their name out of this as they do not need to be thrown into the fray without their consent). In this exchange I opined whether it benefited the associations to help guide people to be successful and use their resources on them or just let them drop off like flies (there will always be more to replace them) after collecting a few rounds of fees to them. Think about it for a moment. Who benefits most from agents constantly coming and going?

The answer is the people who collect their money while they're still in the business. This isn't a jab at the associations, but a simple fact. There will always be someone new to take their place, so why not just collect until the money runs out and move on to the next willing sucker agent. With little or no effort, money can be generated. Much like the brokerage business models that reward based on how many butts are in a chair, not how successful the agents are, the associations need warm bodies to continue their machines into the future. They make no more from a multi-million dollar producer than they do from someone who's ink hasn't dried on their license. So what's in it for them to push the new agent to succeed?

It's a numbers game, plain and simple. But what if we concentrated our efforts on Steve's idea of "So you want to be a Realtor®?" style classes (and I feel they should be mandatory, not voluntary) and produced better prepared agents who were ready to tackle the business aspect of real estate, because they actually understood what that was in the first place? The associations wouldn't benefit much more than through image makeover. A well trained and talented association of agents looks better to the public. That's the only gain I can see for them (and maybe a few more political lobbying dollars, because successful agents have more money to reinvest into their industry). Agents would get a clear benefit. Not having to deal with agents who don't care or don't get it would be an immediate boost to all of us. Who really wins? The consumer. A stable base of qualified agents with a desire (and the skills to back it up) to succeed. A knowledgeable, more professional group of experts who are here to stay. A group that cares about their clients more, because they're not trying to dig up their next paycheck to survive. A group that doesn't have to look to McDonald's for their next paycheck, because they knew how to build up reserves and knew how to get into the business without faltering in the first year.

How I learned the business aspect of real estate.

I got lucky when I got into real estate. I had a real thirst for knowledge and wanted to understand as much as I could right away. I started as things got slow. I had time on my hands to build and learn. I asked questions at every turn. I read so many real estate related sites that I think my eyes are permanently crossed. I spent time chatting with the agents who were doing business and trying to understand what made them tick. I had time to kill, so I killed with information. Not everyone has a chance like that. I also had a decent cash reserve and knew that it would be awhile before I saw the commission checks start to flow. They still don't flow nearly as regularly as I wish they would, but I'm getting there.

If you're out there and thinking about getting your real estate license, talk to some agents. Find a few in your town and take them out for a cup of coffee. Find out what works and doesn't work for them. Don't just talk to the broker, talk to the agents. Brokers need you to survive, so they have a vested interest in getting you to join up. Other agents don't.

Matt Stigliano, Realtor® | RE/MAX Access | (210) 646-HOME | www.RErockstar.com

"Your all access pass to San Antonio real estate."

Connect with me on Twitter and Facebook.

Posted by Matt Stigliano on 06/07/2009 12:47 PM

Comments (47)

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47 Comments on The post that just kept growing and growing and growing...

JUN

great post. i wish you the best. Have a great day.

Matt, I have read all of these posts and One Posts by Alan May just this morning with the same subject matter. The simple answer is people (Realtor's included) will do what is necessary to survive and that is our nature. I'm not into a lot of mandated classes after licensing, we require 12 hours every two years that is enough. But we also require 40 hours in pre-licensing..it may be appropriate to include this discussion in the pre-licensing classes.

I'm sorry that I missed the posts you outline. I'll go back and check them out. My 3 1/2 years in the business have been tough, but it's been tough for everyone. I have learned a great deal in that time and I continue to learn, too. I talk with and listen to realtors that are successful. I am taking from those conversations things that work for them and integrating those things that fit my personality into my business. It has up'ed my transaction closure rate!

I did not get lucky to get in to real estate...I am such a genius I jumped in back in 1989 at the height of the S&L Crisis. My wife...well and me too, thought maybe I should change from construction to something a little safer. My first year I made $9,000 and was so irritated by that I figured the business owed me at least 40,000 for that year alone. I was making about that in construction so I stuck with it. I am fairly successful these days but there have been lean times off and on through the years. I think the key is to approach this trade as a BUSINESS, get up and go to work and get something accomplished...Hmmm..I am starting to sound like Grandpa Clockwinder but there really is something to say for working smart and hard! Good post my friend and thanks for the links!

Matt I have been following the posts unfold (maybe I should write one too - lol). Anyway, I feel the other beneficiaries are the schools. It is easy enough and cheap enough the have a large number of student - constant flow of money. Many will not make it, some will. How many would decide to take on real estate if the schooling was longer and more expensive? The numbers of students would drop. But I bet the quality would be soaring.How I survived when I started? I immediately know I had to learn from somebody that knew what they were doing and doing it well. I sought out the top producer of the company and learned all I could (I became a sponge). I had ideas of my own and business sense and otherwise strong survival instincts LOL so here I am. We are pushing through and are busier than ever. ~Rita

Having been actively selling for over 20 years I've seen a lot of people come and go. It's hard to know who will make it and who will not, I have found. Some of the least likely have flourished, and some who seem to have it all flounder. it takes treating this like a business, being willing to learn, and to ask questions, as you've said. It also takes tremendous self confidence that you can make it through the lean times, self control, and self discipline to stick to the basics. And treat it like a job. Show up. Don't lie to yourself that water cooler talk in the office is work. Ya gotta work.

Wonderful follow up Matt ...I too have been following the posts and yes, we do need to educate new agents on how to start their own business....but also to always remember where we all came from...before Real Estate. I humble myself everytime I read where hard times came upon some of us and they had to go and get an hourly job. I'm happy there was one to be had for them.

Excellent. We have a series going. I'll add these links to my post.

Russell brings up the fact that those of us who survived the S&L crisis always knew it could happen and made sure to save for a bad market. Not that anyone expected it to be this bad.

Rita and Brian show how we are literally milked for cash to support the infrastracture of the real estate industry. That very industry that is under seige by every entity that wants to gut our infrastructure for their own benefit. Sadly, if they succeed, the consumer will be the loser and they won't even know what happened.

Many of us have changed our business model, focused on different market niches and generlly adapted to the market.

The market is what it is. We cna't change it. We can just learn to work it. Then work it a bit harder.

My first time around (1991) I made $15,000 which wasn't bad for a kid out of high school BUT I quit. I didn't have any $ & was very concerned about when I was going to get my next paycheck so I got a job that gave me a regular paycheck & went back to shool. I wasn't mentally prepared back then to handle all that Real Estate involved & all the fees. Having had that experience prepared me for when I got back into Real Estate. Folks need to experience it for themselves & determine if it is for them or not.

Hi Matt... thanks for the "shout out" and welcome to the circuit! :) I have some additional thoughts on this (sort of an extension on your points) that I have been working on since yesterday. Watch for my next post later today! :)

Matt, great thoughts on this topic and this post to post to post (Carol even had a part 2) is amazing as they all kept getting features. Must be THE topic of choice by the AR gods here lately. I agree with Lenn, it is the rookie Realtor series now.

This has been a good series to follow. I know how hard it is for new agents and when I've spoken with them, I tried to make sure they understood how long it was going to be before they would see a check. I wanted to make sure they could afford to live and market themselves without any money coming in.

As you state about talking to the agents, I believe in this. I, as a broker, can only tell you so much...it is always best to talk to the agents of a company, it is the best way to learn about a company and see if it is the right for you.

You know in Georgia anyone who had their license prior to Jan. 1 1980 has to have NO continuing education. So the MOST experienced agents CAN be the least educated on the subject matter at hand. Now don't get me wrong, there are those who still DO take CE courses even though not required by the state. I've seen a lot of rule changes in my 17 years in the business.

I think a fundamental problem we have in my state, and probably many others, is we take a 90 hour class that prepares us to take a test that doesnt have anything to do with actually selling real estate. I think as long as agents are independent contractors most brokers arent going to spend the time and money to train them, so you better be independently motivated. This is also why one of the most important decisions you make as a new agent is who you decide to work for.

One of these days I'm going to blast away about my experiences being a rookier realtor, albiet with years of RE paralegal background. First, however, I need to think of something nice to say. ;-)

Well..Right ON! I am so glad this was featured. You raise the level of discourse exponentially when ever you post!

And Lenn is so right about saving for a rainy day, no one imagined it could ever get this bad!

Congrats and Thank you!!

Lots of great comments and posts to posts. Unfortunately I don't believe a lot of BIC's are honest with their new recruits. Matt your advise to not only interview the broker but the other agents as well is good strong recommendations for all!

I love the post because you used the word opined. When Oklahoma and Texas went down the tubes in 1982, many people who existed and profited off the huge boom, became a huge bust. Oilmen who understood business cycles, cash flow analysis, need for reserves, and patience in wealth building took advantage of the bust and were buying leases and rigs at 10C on the dollar. The oil and gas business re-emerged stronger, more coporate, more business like and unrecognizible from the late 70's and early 80's and we are glad for that. The same oportunity lies in front of us. The question is how will we handle it. I believe that if it is business as usual, our industry may be diminished beyond repair. I am not against young, bright, and internet savvy people entering the business, in fact we need them. Let's make sure we give them the business tools to thrive, and let's figure out a way to make this great industry that I love, better. From this and the other post, i know you do too.

Hi Matt~ I think that your suggestion of the new agent speaking with other agents, not just the managing brokers, is a great idea. It is a good way for them to get a well rounder perspective of life in the real world of real estate. It is not as rosy as it seems! A Broker's perspective can be totally different from agent's perspectives.

Hi Matt, One thing I would like to contribute is that your business is a living, breathing entity and should be treated as such. It deserves and needs a pay to survive. Not only obtaining information from others be willing to give information. We come from many different backgrounds everyone has something to offer. I think we all could learn that working with each other should be more than on a certain sale or transaction. Lastly learn how to listen. I mean really listen. Others can see areas of your business that need to or could be improved. This is the most difficult because we all think we do everything right. I have seen people in business for many years struggling when all they need to do is make a few adjustments. This goes for all businesses not just Real Estate. I have a business background and let me tell you that I have more respect for business owners than I have ever had. It is not easy but anything worth while isn't. Well I guess I had more than one thing to contribute. Somehow I think this post is going to grow again.

People may be dropping like flies but the schools are spitting out as many as quit with the promise of riches beyond their belief.

Their should (in my humble opinion) be a national brokers license that crosses all states. A newly licensed agent should have to work x amount of years before they can set for the brokers exam. The schools should have to take some responsibility for the students in the first year.

I'm coming back to finish reading this later - but your first few sentences sum up the beauty of blogging - when a few good minds come together it is truly nothing short of amazing what can really be accomplished. It is awesome. And I commented on Lenn's post - I have great respect for those agents who get another job to make ends meet. As far as I am concerned they will lieky "get the job done" because that is exactly what they are doing in their personal life. I'll be back ...

Brother Matt...

You are really wound up about this. I think that a lot of the problem also lies with the new agents and an unwillingness to learn to do things the right way. I have had more than a few tell me that they wanted to do it their way.

Matt - I have been following the 'series', too. The comments are as interesting as the posts. I was lucky to have a working husband through my toughest year, 2007, I wouldn't have made it.

Talking to agents about what to expect is a great idea for new agents, or even when thinking of a move to another office. I started in California and didn't even realize that the office would charge me for copies, phone calls, cards, desk, - it was a real shock.

It's funny, I am always speaking with the other agents in my office, and they are always giving me helpful hints and tips on how to survive in this market. They have, with their years of experience, even let on that they too have to "go back to basics" - i.e. cold calling, to generate business. One thing I am learning now is to shift my priorities in trying to generate business -don't spend money on lead generation, use the most cost-effective means.

Evening Matt, terrific flow of energy and ideas here. Until the licensing process includes a very strong sales component and a basic business mgmt component the newer agents will be used as chum for the industry.

OMG...bully for you! This is a wonderful post with great tips and ideas for all. Thank you so much for getting it out on AR!

Patricia Aulson/Portsmouth NH Real Estate

Hi Matt ~ I think you hit on a great point - new agents should seek out as much training and advice as possible. And you're right - slower times mean greater opportunities to spend some time learning and planning. More than once I've been impressed with agents who have MBAs- they really approach their business like a business - and get great results.

Like you I sought out as much advice and knowledge as possible. Sometimes our colleagues (of the brick and mortar or I guess it's flesh and blood variety not AR colleagues) aren't keen to share their tips and secrets. One of the things I did was to start buying Howard Brinton's Star Power tape sets on ebay. Each month he interviews a super star agent. The older sets in particular are really really great - there's lots of info about how they got started, how they built their business etc. I highly recommend them.

Liz

It helps having a mentor or two. I am fortunate that I have many mentors who have helped me and who help me. I am also fortunate that one of my best friends was an agent before I decided to take the plunge so with respect to what you mentioned about asking agents... I agree. It may help.

I especially like my broker who is professional and has business savvy. I think a lot has to do with the individual. Some people think the information will come through osmosis but in my experience one has to research, read, rinse... and repeat.

This is a tough market one that nobody has seen before. It takes a whole different breed to adapt to the changes in the market. It doesn't matter whether you are good or bad or once great. You have to bee good now.

Matt - A great thought-provoking post ! And a nice add-on to the others ! You raise some good points for discussion. I think there should be higher barriers of entry for agents to enter and greater training at the broker level as well or additional education classes required by local associations. Still, at the end of the day, I do believe that it is up to each individual new agent to be proactive and driven to succeed in their own market. It is not easy out there and like any other business, it requires a tremendous amount of spirit and drive. If NAR and local associations benefit from a new agent paying dues, so be it. I do not know the numbers, but I would think that many many Realtors are leaving the industry thus bringing down the number or folks paying dues. Without being an expert, it does seem like NAR as well as our local agency provides tremendous resources to agents - both old and new. I just do not know how many people actually tap into them. Will see what other people have to say as I am sure this topic will be a hot one for a long period to come ! ~ Chris

there are days that I think if I knew then what I know now, I would have spent the money building a Jeep instead... and then hit myself over the head with a piece of steel for a while to imitate the frustration...

If I do get around to building a brokerage, it will be for agents that perform, not that just hang a license... And there are a lot of days that I feel like one of those agents that just hangs a license.

Matt: When things were hot, I think people were rushing to get their license and start selling and Brokerages were just as anxious to have them to add to the office income. Of course that was a bad idea and it would seem that now Brokers are insisting on hiring agents with loads of experience since a newbie would potentially be a drain.

I remember when NAR was pushing the million Realtor® membership story like it was the news of the century and all I could think was; wow, it's nothing but a numbers game and what happens when we start moving in reverse. Well, I do think we're moving in reverse and I have not heard NAR make any statement in a long time about our membership numbers and quite frankly, who cares?

We are in a market correction in many different areas and not only the real estate market but the agent and mortgage broker market as well. I see this as a good thing personally and I am extremely happy you have found your place in the market and I hope blessings continue to come your way.

I'll share this final thought with you. With me it has never, ever been about the money. To be honest, if my Broker did not keep me advised of my sales stats, I would never know how many and how much I have sold. I know money is important to a lot of people but not to me. If I do what I am supposed to do and do it in the most ethical and moral way possible, then I will be blessed countless times over. And we should never forget to share those blessings with those in need because I do believe that the Good Lord blesses you double in return for the good we do and it goes on and on like that. I hope as you are blessed that you will find time to give back to the community that has given you/us so much and you seem like the kind of guy that will.

Best of luck to you!

Hi Matt, Excellent, thought-provoking series! For me, if and when I turn my business model into a brokerage model, I will definitely seek agents with a performing record--I think the numbers game is better than just hiring warm bodies!

Matt, I enjoyed your post and you present a very intriguing argument. I know I relied on my first brokerage to teach me many of these topics, but of course, I had to pay for the course...Maybe what we all need to do is get involved within our own organization to try to change the direction and emphasis...I know that is what I am doing with my own local Association of Realtors. I am getting involved at a grass roots level and hope to make the board this year. Then I'll work my way up the ladder (hopefully) and then have a way to voice some of these things at national meetings.

Hi Matt -- There are so many people who either don't want to share, feel threatened by sharing, or think they know it all, that there is a very tiny minority who are competent and willing to share. I think it's hard for a new agent to find those agents, I know it was when I started.

JUN

Everyone - I just finished up my last post for the day and unfortunately it took me awhile, so I wasn't able to reply back to most of these comments. I have read them all though. I will be back tomorrow, but just took a look at my "to do" list and wonder if I'll really be able to devote the proper amount of time to replying. With that in mind, I don't promise I'll get back to do it all, but I do enjoy the comments and will try and reply to as many as I can.

One quick reply...

Chris Olsen - I thought it would be too, but I got luck with finding agents who more or less took me under their wing in many different aspects. I truly feel as if I've been trained by some of the best and the brightest (especially when it comes to the RE.net world). In my latest post, I talk about the fact that the great thing about the RE.net is that it allows an agent to speak to others who aren't competing with them in their local area, so trade secrets have a tendency to be passed around a lot easier. I'm lucky though as San Antonio has some very forward thinking agents who are willing to share ideas, because we know that there's plenty of business for us all if we work (at different companies no less) "together" towards making San Antonio real estate a better experience for all involved.

Christianne - You might enjoy this recent post of mine - "Texas Realtors® - I Am Asking For Your Assistance." It's about my desire at the state and local levels and asking for the help of my fellow Texans in making it happen.

The best thing about this "series" is that none of us sat down and said "hey, let's write a series together." It happened naturally and I think the results speak for themselves. I think it may be time to bring back "The Great ActiveRain Interactive Experiment."

Matt,

I agree with Aaron. That was exactly my impression when I myself studied for the test. It is a test to get the license, and unfortunately it has very little to do with the business of real estate.

I had my broker license when my wife was preparing for her salesperson license. She was stunned that when she would ask me a question, I would say that I did not know.

But that;s true, You pass it, you forget it. take best (most successful) 25 brokers, and make them do a state exam, and see how many would pass. Do the same with top producers, and you may get the same result

"If you're out there and thinking about getting your real estate license, talk to some agents. Find a few in your town and take them out for a cup of coffee. Find out what works and doesn't work for them. Don't just talk to the broker, talk to the agents. "

Good advice Matt.

Talk to the agents, the top producers and the new ones that just joined.

Listen and learn.

That was a good group of posts.

I have been following all the posts and comments. A great read and enjoy the different perspectives.

Matt,

Real estate, like all businesses with low barriers to entry, is an industry in which a low percentage of dedicated professionals take most of the cake. That is not to disparage anyone else--many don't even work RE full time, some just have licenses to avoid fees on property investments, etc. I've only studied the Texas RE test material, but I have the same sense of others on here, that the material is oriented toward rule and regulations, as opposed to industry success. Maybe it should be this way. I can't really think of another licensing process that is about succeeding in a given industry rather than abiding by industry-specific rules. Great post, Matt. Got me thinking...

Alright everyone, here goes...my attempt to write the longest comment in history.

Kevin - Thanks.

Steve - I agree that it should be pre-licensing. There are plenty of opportunities for MCE classes that help you grow your business and tackle the issues of being a business owner as you move through the years. Much like I think high schools should teach real life accounting and tax classes, I think we would all benefit from having more knowledge coming into the world of real estate. I am a backer of the "more required education to get a license" school of thought in general, but I think that getting a least a few good pointers on what you're about to get yourself into could save a lot of agents from falling by the wayside.

Marianne - Perhaps the phrase of real estate should be "When the going gets tough, the tough start learning more."

Russell - As we've discussed my pre-real estate career, I think you understand that I gave up a pretty decent life. I made money last year without even touring (unfortunately I saw none of it as it was used to pay back a debt to the band). I earned a ton in the good times and enough in the bad times with rock and roll. It wasn't about the money though, it was about what I wanted and needed in my life.

Rita - The school I took all my classes at in now gone. They couldn't stay afloat as the number of incoming agents began to drop. It's a shame, because the owners really cared about their students and some of the teachers were top notch. I agree that if schooling were longer (and therefore more expensive), it would be hard to justify for some people looking to enter the business. I took all my classes in a row, but there were people in my classes who had been at it for two years...saving up enough money each time to take the next class.

Sally Dunbar - What's this "work" stuff you speak of? It's true, some people you think would make it will fail and some you think will fail will succeed. I think real estate takes a certain amount of stubbornness to make it work. Those first years are tough, but refusing to quit is part of it.

Sally Cheeseman - I know plenty of agents who have gone out and sought work. I don't look down on them, I sympathize. What I do hate to see is someone who steps into the business and expects to "make it" instantly and in a few months is working somewhere else, because it just "didn't work out" for them. Imagine having worked to pass your licensing test only to walk away from it. Goes back what I said about "stubbornness" to Sally Dunbar up above.

Lenn - This series has given me more ideas than I could have imagined. I've been writing about my trials and tribulations as a new agent at AgentGenius for longer than I have been blogging and I just came up with a post thanks to you. I'll let you know when it goes up.

Kristin - Well, San Antonio has certainly benefited from you not giving up. And I have too. Thanks!

Steve - Wow, the posts are flying. I'm glad I got to be apart of the "roundtable" posts.

Gary - I am thrilled to be a part of the "series" as well as see it being so interconnected. One of my favorite aspects of blogging is taking what others do and adding more to it or a different spin on it. I think we learn a lot from other bloggers about how to be a better blogger.

Cris - Brokers are important, but when you talk to an agent you get the take on it from someone working under a broker. Much like if you talked to NAR and then to someone who is a member of NAR, you get a totally different viewpoint.

Tammy - That's kind of sad. Although I see the benefit of their years of experience, I would like to think that the CE part of our careers is there to help us, not make things more difficult.

Aaron - Its great to learn the "nuts and bolts" of real estate theory and law, but I have to agree that we need to also teach the "how to be an agent" classes alongside them.

Susie - I would love to you and anyone else with experience really get into the meat of how it was for you as a new agent. It might just encourage some new agents to really look at what they're about to do.

Russell - It's always an honor to be featured and you know me, I love discourse (and a little dissent from time to time too). And once again, the meat of the post is in the comments section. That's one of the things I love about a featured post - it brings out the opinions of all sorts of different people, so you really get a good look at what's on the mind of agents everywhere.

Lee & Pamela - I was lied to by several brokers that came to school for recruiting. Maybe not lied, but I always felt brokers were dodging my questions and telling me what I wanted to hear. When I interviewed with my broker, I felt I was getting an honest look at his business and how it would work for me there. It didn't take me long to see I had found one I could work with and who would help me get better as I went.

Joe - One of my loftiest goals in this business is to see it change for the better. I was one of those consumers who thought all agents were scumbags after having one bad experience. I know how they feel when something goes wrong. Sometimes they may be quick to judge, but the fact is that real estate is very emotional for those involved and a little problem can turn into a major catastrophe in mere seconds for the consumer. We have a lot of years of distrust working against us and sometimes that distrust only goes deeper because of some tiny thing.

Vickie - And I suggest talking to agents both within and outside of that brokerage. I learned a lot from agents all over the country just by being an active participant at AgentGenius.

Lisa - One word in your post stands out. Listen. Learning to listen and apply other's knowledge to your situation is critical.

Charles - Texas requires two years as an agent and 270 hours of classroom education (including a 30 hour course on Real Estate Brokerage) which I think is a good basis. I have never taken the Real Estate Brokerage course, but I may just to see what they teach in it.

Steve - It is interesting to note that taking another job to "do what you have to do" is frowned upon, yet "doing what you have to do" to make a transaction stay together isn't. I understand people's perceptions of part time agents, but if you work hard and really strive to keep both sides alive, I think it can be done. At the end of the day, family comes first.

Brother Richard - I admit I can be a little quick to say "oh, that wouldn't work for me," when talking about how to do things. I think one of the keys is finding the methodology that makes you feel confident and comfortable. Cold calling would never work for me. Why? Because I know what goes through my head when someone calls me. There are so many options out there on how to build a business and all of them work for different reasons for different people. The trick is to find one and find it fast...and to always be willing to add or subtract as necessary to keep yourself going.

Virginia - According to the 2009 NAR Member Profile less than "50% of Realtors surveyed noted real estate is their primary source of household income." That means we either all have spouses with better paying jobs or we all hit the lottery recently. I'm hoping for the latter.

William - Seeking out the most cost-effective and productive means will always win out over the latest and greatest gizmos and gadgets. If it works, do it.

Bill - Ouch I don't like the thought of being used as chum. So instead, I'll continue learning all I can and see if I can't succeed without being fed to the sharks!

Patricia - One of the great things about any community is the free-flow exchange of ideas. There are times when we disagree, but the conversation is important regardless of how we feel about the individual issue at hand.

Elizabeth - I was told in school how close-guarded agents were with their tips and tricks. I have found it to be the exact opposite. There are so many agents willing to give advice, both in person locally and at large on the internet, and I have found a million terrific resources for myself. Each one of them provides me with a different viewpoint which allows me to filter through them all and try to make the best plan for me.

Lana - I recently told a friend that the franchise/independent office didn't matter one bit. What mattered was the broker. I work for Exit, but that doesn't mean all Exit offices are brilliant. If the broker is a moron, the company won't be much better.

Russ - "It doesn't matter whether you are good or bad or once great." Nothing separates the wheat from the chaff like hard times. Those that hang onto "I was producer of the year in 2000," but aren't adapting and changing will suffer the most. Unless of course they saved their pennies and can wait things out until a better day arrives.

Christopher and Stephanie - "Still, at the end of the day, I do believe that it is up to each individual new agent to be proactive and driven to succeed in their own market." Couldn't agree more. If you're not willing to work at it, it certainly shouldn't be handed to you. The idea of a "level playing field" sometimes bugs me, because it's often used an excuse for "you're better than me because you work harder...but I deserve what you have."

Lane - I think we will see brokers in the near future that are agents now and they will come at it from a different perspective. One of quality and growth over quantity and fees. I know if I were to ever open a brokerage, I wouldn't want 1,000 agents that did little business. I would want 10 agents that worked and wanted to know more.

Russell - When I took my classes my Real Estate Principles class had 8 people in it. The instructor told us that five months before that he was teaching to crowds of 100. I found that very telling and I loved it. I picked my time to enter real estate very carefully. I was hoping that some of the yahoos who were just looking to become overnight millionaires would have walked by the time I entered the industry. I was right.

Debe - I honestly can't imagine you doing it any different than that. I think you should always be willing to take chances with new agents, but much like hiring a new fry cook at McDonald's, you should always be looking for the one who is willing to move up in life and learn more.

Christianne and Chris - I already replied to you, but didn't want you to feel left out in this string of comments.

Jon - While I did my best to learn the concepts of real estate while in school, I did find that real world experiences and one on one training worked ten times better. One of the things I think should be on new agents' minds is whether or not the broker is there for them to answer questions when they don't have the answer. My broker loves to explain theory and practice, so he's excited when I stop in his office for a moment to question something I don't have a full grasp on.

Missy - Although I did it post-license, I have done it with you a million times over. You're one of my go-to agents when I need to understand. Sometimes just by coming through your posts, sometimes by asking you directly. One of the best phone calls I've ever had in real estate as well - I think we solved most of the world's problems that day.

Mark - There's a lot of great ideas, thoughts, and information in the posts and the comments. My head is swimming (and I've written about 15 posts in my head just while commenting back to everyone).

Ian - I think the theory and practice part of the learning is important, but I think in order to avoid some of the attrition rate, we could focus a bit on business. No 30 hour course will teach you everything, but if you start with the basic building blocks at least you've got something to build upon.

Matt-

I am a rookie agent that "passed the test" Oct. 2008. Family and friends thought I was nuts: new REALTOR, in a NEW TOWN, in a NEW STATE!! I'm just glad I didn't read the statistics! Like you, I spent every minute I could (& still do) educating myself on how to sell, business models, tweaking and updating-you name it. Results: I'm in the top 25 of my local association. Making big bucks-not yet, but when things turn around, I'll still be here, still learning every chance I get, and still making my clients best interests my top priority. Great post-keep it up!

Kathy - I read the statistics and said "Stats be damned!" Haha. It sounds like you've got the vision to succeed and I sure hope you do.

New Hamphire Association of Realtors began a quick start program for newbies several years ago! I would recommend that other local associations look into this as well. There is a cost and maybe some the the brokerage firms can subsidize the newbies...

Joan - That's a great idea and I'd love to see it implemented more at state and local levels. A sort of brief introduction and how to for new agents. We had an orientation, but most of it consisted of people distracting me every five minutes as they handed me yet another flyer for their product or service.

JUN

Matt:

1) Great post, and a great "chain" on an important subject.

2) Congrats on replying to everyone! That took some serious work in and of itself!

I agree about licensing and running a business. I took 75 hours of class to pass a test, not to learn how to sell real estate. I'm thankful I chose the first brokerage I did..as they had tons and tons of training. Their post license training (required here in GA) was great and actually taught us about listing appointments, doing CMA's and filling out contracts. When I got my Broker's license, I had 200+ hours of CE credits...thanks to that company.

Now, the Broker's license! I was amazed....it was a repeat of Pre-license! Hardly anything about how to recruit agents, set up accounting, reviewing contracts, etc. I just could not believe it. There was a comment here or one of the other blogs about a guy and his wife...he being a Broker while she was getting her license, and he could not answer her questions! That's just how I feel, and what keeps me from heading off into the wild blue yonder on my own. (That and the current state of the real estate market!)

Thanks for all your insights on this topic. It was informative and helpful all at the same time!

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Matt Stigliano

San Antonio, TX

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RE/MAX Access - San Antonio Real Estate Rockstar

Address: 19115 FM 2252, Suite 7, Garden Ridge, TX, 78266

Office Phone: (210) 646-4663

Cell Phone: (210) 240-6222

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