Special offer

PART TIME Real Estate Professionals....Either Get In or Get Out!

By
Mortgage and Lending with Prospect Mortgage

As the month of August ends I regroup and think of what could I have done to improve my business and the communication with my clients? It then dawned on me that this was an unusual month. I was working with three buyers and no matter how much I encouraged them to work with agents that I knew was competent and proficient at their job, the buyers went with a family friend. I knew this was going to be trouble, not only was this dealing with family in the 2 out of 3 cases, all three of them worked full time jobs!

In this day and age, the business is far too complicated and forever changing that to do this job part time is an injustice for not only the buyer but everyone working with them. I can handle new agents who are putting 120% effort toward learning and executing but not part time agents or professionals who want the mad money of real estate and the stability of their jobs.

All three transactions were a mess, unorganized and because none of them had experience with FHA & VA loans did not know what to do. They took the most of my time, I remember conversations with a Realtor that lasted 1.5 hours trying to go over inspection items because she didn't know what would and would not be a problem with the FHA appraiser....even after I sent her the link. Not to mention, I got that 7-9pm call from one of them every night to go over the file because they were at work all day.

2 out of the 3 buyers were extremely dissatisfied; with one buyer it cost them an additional $300 for a survey that was not needed because agent didn't pay attention to the title commitment. 2 out of the 3 buyers have already sent me an e-mail on how they would never do this again, with family or a part time agent and why. I'm going to frame it and next time a buyer says "I want to use a friend of the family's that is also a part time agent" I'm going to have them call these very disappointed buyers or read the letters.

I read a great saying today that says "IF YOU DON'T RISK ANYTHING, YOU RISK EVEN MORE!" Erica Jong. It is so relevant here!

Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

I just posted to someone else.  Part time realtor = full time headache for the clients.  "Everyone's a realtor."  But get someone who depends on success in that industry to make a living.  Otherwise, bring your tylenol and your checkbook.

Aug 31, 2009 01:56 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

People confuse good friends with competence....and that can be an expensive mistake. They are afraid if they work with someone else, it will forever ruin the relationship....and the chances are with a part timer, that will happen anyway...point well taken.

Aug 31, 2009 02:02 AM
Lina Robertson
AMAX Real Estate - Springfield, MO
REALTORĀ® Serving Springfield, Nixa and Ozark, MO

I understand family loyalty, but I have never understood why someone would entrust the largest purchase of their lives and risk losing so much money for family loyalty. 

Aug 31, 2009 02:02 AM
Catherine Eusea
Prospect Mortgage - Fort Collins, CO
Mortgage Lender

I took a chance writing this and thought that I would get hate comments from "part time" agents or professionals but so far so good! Lina, I love your point....I think I might bring that up. People won't even deal with a part time hair dresser but they will when it comes to real estate!

Aug 31, 2009 02:19 AM
Bart Whitmore
Keller Williams- Louisville - Louisville, KY
Real Estate Agent

Part time or full time lets face it there are incompetent agents in this business, one of the worst I have worked with was a full time agent with over 20 yrs experience.Another one that was diffacult was the vice president of a company, I have also worked with some great part time agents.I have had full time agents who cant even get the paperwork correct or return phone calls, send faxes ect.As far as people listing with family I am with you on that, but I have listed or been the selling agent on several friends and family and have sold them all, but some families may not have a great agent like me working for them----Bart

Aug 31, 2009 03:17 AM