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15 things I love and hate about the real estate business - part 1

Love & Hate Real Estate business

1) I love when a buyer finds their dream home.

I hate when a buyer is too picky to ever find their dream home.

2) I love when a seller receives a good purchase offer.

I hate when a seller rejects a good purchase offer out of emotion, spite or need for conflict.

3) I love when a buyer/seller chooses to work with me.

I hate when a prior client lists their home with a different Realtor.

4) I love when I have a closing and get a fat commission check.

I hate when I work with a seller/buyer for a long time and get jack sh*t.

5) I love when a prepared buyer flies into town and gets a home under contract within a few days.

I hate when a buyer flies into town and wants me to play tour guide of several Sarasota houses and does not buy - ever.

6) I love when a buyer comes to town to see if they like Sarasota before they look at property.

I hate when a buyer comes to town and wants to see houses prior to finding out if they like Sarasota.

7) I love when a seller is realistic about the value of their home.

I hate when a seller is unrealistic about the value of their home and ignores logic as to the reasons why.

8) I love when a seller realizes that open houses aren't that useful for selling homes.

I hate when a seller thinks an open house will somehow counteract their high asking price.

9) I love when a buyer doesn't spend too much time in a house they know they won't buy.

I hate when a buyers knows within the first few minutes of seeing a home that it won't work for them, however they spend the next 15 minutes visualizing placement of their furniture or critiquing the house.

10) I love when a buyer says, "I don't want to look at any short sales."

I hate when a buyer says, "I'm only interested in short sales."

11) I love when a seller thinks that a competing home for sale in their area is better than theirs when it really is.

I hate when a seller thinks they have the absolute best property for sale in the area when it isn't even close.

12) I love when a buyer prefers to see houses during the week so I can take weekends off with my family.

I hate when a buyer only wants to meet on weekends (nature of the business).

13) I love when buyers drive by homes and communities before making an appointment to see a home they viewed on the internet.

I hate when a buyer makes an appointment to see a home and afterwards says, "I would never buy in this neighborhood."

14) I love when a buyer pays cash.

I hate when a prospect asks about lease options or lease purchases because they don't have enough money for a downpayment.

15) I love being able to vent and share war stories on Activerain.

I hate the need to vent about the real estate business.

Read part 2 of the 15 things I love and hate about the real estate business.

Marc Rasmussen selling Sarasota real estate. Visit www.LuxurySarasotaRealEstate.com.

Posted by Marc Rasmussen - Sarasota Real Estate on 11/12/2009 05:29 AM

Comments (80)

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80 Comments on 15 things I love and hate about the real estate business - part 1

NOV

LOL we all need to vent somewhere and this list is one that we all can relate and share. I hate it when a buyer calls me to view homes and hasn't talked with a lender yet. I love it when they have.

I am not thrilled when buyes just want addresses to "drive by and see the neighborhood". Is is often a fact that, if they see something they like, they will call and must see it immediately. After all, they're parked in front of the house for sale.

If you're not immediately available, their next phone call is to the listing agent. Mmmmmmmm.

A BA Agreement won't protect an agent's commission if they send a buyer out to preview without the agent.

Your list is very complete. It is a challenging business. There are so many highs and lows. I am riding out a big customer right now. He sounds like he is ready to do big deals, but you never know until you walk away from the closing.

Plagiarism(LOL)...you read my my mind... Great post. Real Estate is a love..hate relationship.

good to see the good why we did get in this business. At the end of the day it is good to help folks get the things we want. As I've heard it is the only way to get the thing I want

good post

Tony

Are you in the car with me when I'm driving clients around? LOL

Laura - I agree. Pre-approved buyers show a level of seriousness.

Lenn - My website gives addresses of the homes for sale. I'd rather work with buyers who are loyal. Often times those buyers who run around calling the listing agents off the sign because they must see the home now generally aren't that great to work with.

Carol - I agree. Never count the money until you actually have it.

Mark - Thank you.

Marc:

This is a great list and one that I can certainly relate to,

I always advise my buyers to do drive-bys. Smart buyers want to do this because it avoids wasting their time and yours. By then, they have already signed my buyer agency agreement so it's not a problem. It just makes good sense.

It is good to be able to vent on Active Rain, isn't it?

I can't wait for part two. I guess there is more.

I love blogs like this.

I hate it when I get beaten to the punch!

So true, why do we keep doing this? Must be love.

Great post - I can definitely relate :)

LOL! Very true. I am glad we are all on the same page.

Life is great. No matter what we do there is always two sides.

When we are doing what you love the negatives don't seem be as big deal and are much easy to work through.

Good points. There are many small successes each day which make this a rather rewarding business. If it's not "fun" then you're in the wrong business.

Very true post. There are both positives and negatives in our industry. We need to accept it and promote the positives.

Marc, that about sums it up.

This would be a great post for new agents. In fact, I am going to forward it to a new team member who was just licensed.

Memories.....you just brought back a few! Great post and well written.

I can relate to many of these!

I love your loves and I hate your hates....hhhmmmm

It is a love hate business. I LOVE a commission check, I HATE not getting paid for all my time.

I love #15 the best!!!

15) I love being able to vent and share war stories on Activerain. I hate the need to vent about the real estate business.

As Annie Lennox sang, "it's a thin line between love and hate".

Exacty!

And, I love that song Joe.

Thank you Marc - for such an entertaining post. Looking forward to the next part!

I hate it when you explain in minute details why buyer representation would be in a buyers favor, explain to them what you can/can't and will/won't do if they don't choose buyers agency. They refuse representation yet expect you to jump through hoops for them and be at their complete beck and call.

I love it when those folks find another agent!

I love writing good blogs,

I hate that someone else came up with the idea first.

Nice Job!

You spelled out the duality pretty well . . . I have been fortunate with #12 my clients want my assistance during the week for the most part. Thanks for a great post.

I don't think I've ever had a buyer say, "I'm only interested in short sales." I do hate it when they say, "I'm only interested in foreclosures" however. I'll add one, I love it when a buyer want's to make an offer on a house in a multiple offer situation and they actually listen to my advice on how they can be the winner. Great post.

Marc, those are great. I think everyone can relat.

Very clever...I love #8...Hello we aren't selling during the 80's...and the gated communities don't scream come on in!

I love that you wrote this.

I hate that you are so right! Some get to me more than others, they are my pet peeves, my skin is getting thicker by the year!

I also love when buyers want to see home during the day on week days...thats my favorite.

What I love about your post is that there is always a positive side to every type of situation.

What I hate is just about everything you hate! Great Post!

I love reading posts like this...I hate the same stuff as you!!! Love the format...it's like Good News, Bad News! LOL! Thanks for sharing!

Just the following alone and your list is complete:

7) I love when a seller is realistic about the value of their home.I hate when a seller is unrealistic about the value of their home and ignores logic as to the reasons why.

8) I love when a seller realizes that open houses aren't that useful for selling homes. I hate when a seller thinks an open house will somehow counteract their high asking price.

I just blogged about being a glorified tour guide!!! Me thinks your the proof that my story is not an urban legend. lol

5) I love when a prepared buyer flies into town and gets a home under contract within a few days. I hate when a buyer flies into town and wants me to play tour guide of several Sarasota houses and does not buy - ever.-----

This was only Part I, I can't wait to see the rest!

Hi Marc, Great list - although I will respectfully disagree on the value of open houses !

Haha. LOL Thanks for sharing. I love real estate... glad to see you do too!

Marc - I think you, perhaps inadvertently, hit on a everyday truth - no matter how much you love something, there is always the flip side that well, just isn't so loveable.

Michae in Alexandria

I love it when: my buyers are a few days from closing, and I have to drop by the new house for some reason, and none of the neighbors catch me while I am there.

I hate it when: Still a few days from closing, I am not able to get away fast enough and one of the neighborhood story tellers stops me and says, "So did your buyers know there is a drug dealer on the other side of them, and the kids across the street will probably steal their hubcaps, and their house is on an ancient burial site, and I saw someone fall through their roof last year when they hired a crew of rejects to work on it...."

Grrrrrrrrrrrrrr.

Awesome Post!!! Aren't they all so true!!! I love your loves, and hate your hates!!! LOL

Have a great day!!!

Cheers,

Kim

Cute post, I enjoyed it. Thanks I think I'll reblog it.

Patricia/Seacoast NH

Points..well taken !!!

Gary DiGiorgio

The DiGiorgio Group

9035 Wadsworth pkwy 2000

Westminster.Co 80021

Direct 303 898 4279

Office 303 422 5200 fx 303 467 0211

Gary@Di-DenverRealty.com

I love this post! #4 is my favorite

Thank you all for the great comments! ;-)

I love selling houses.

I hate that I can't just sell the SAME house over and over and still get paid ;-)

I love #9! I had a friend that would do this...pull up to the house and he would just say, "no"....I get ready to pull off and then he would say, "well, since we are here let's look" and 30 minutes later...we would leave and he would dislike it even more.

Your book reminds me of a book I had when I was a child - "Fortunately, Unfortunately."

It is amusing and valid.

Marc, Very well said. You've exposed many truism of the industry. I can relate to every one of those points. This is a wacky field were in.

NOV

Your experience is showing! There's an upside and downside to most aspects of real estate.

This is a nice list to read daily. I usually do not think of negatives in the converse context. They remind me of a Groucho Marx quote. He said, "the convesre is also true." In your post I assume some of the dislikes may be likes of another agent.

This was great to read this morning I think of Real Estate as a roller coater ride. There are always ups and downs

Dead on! Every one of those items! Thanks!

You did a great job of expressing my frustrations and the of this roller coaster ride we call real estate.

Sometimes I feel like it was too easy and I made a lot. The times that I worked my butt off and made little to nothing over ride that sentiment.

It's up to us to find the balance. I think we do, but it is still challenging! Joy

Got a good laugh from this to start my day & forwarded to some friends! nicely written.

Haha. Funny stuff--yet very true. It sounds like we are all in the same boat when it comes to the joys and frustrations of this business. Thanks for the laugh.

Looking forward to Part 2!

I think I have the same list......probably exactly. And you haven't even touched on escrow or appraisals or lenders or agents....you have a large volume here you can write.

I sat here nodding my head reading the whole post! Laughed out loud about jack sh*t! You nailed it for sure. It's a hard business!

Great list--fun to read--waiting for Part II. Thanks!

Marc- Love the post! Looking forward to part 2

hear hear!

and in the end the loves outweigh the hates and we all saddle up and do it for the loves!

That is the best post I have ever seen

I love it when a client listens to my advice and respects me as a professional.

I hate it when a client listens to the advice of his friends and co-workers and values it above my advice.

Enjoyed your post.

John Juarez, REALTOR

Windermere Properties of the East Bay

John@CarlMedford.com

510-673-0686

I think we all have our loves and hates in this business. There are a lot of great people and sometimes there are difficult ones.

Marc

I used to have lots of hair when I started in this business. I don't know which part of the 15 hates caused the loss!

Great Post, the love/haet relationship will always exist!

A sense of humor helps a lot to get through the bad days, thank you for the smile.

I love that my daughers are both Realtors and my husband was a Realtor...lots of people to vent or listen to. Your list pretty much covers it. After 15 years I love real estate...most days.

Nice list, its like the old quote, "Nothing is either good or bad, but thinking makes it so."

NOV

I chuckled at your item #1...

When I was selling I had a prospective buyer named Craig who was a really nice guy - I liked him in spite of his lists. Yes, he had a notebook with lists of everything a house must have and all the things he needed to check out. (Tough to really know how much insulation is in those walls, but he tried!)

He would go on a "looking spree" about twice a year. Eventually he started bringing his future wife along on our outings... a very nice lady.

Then, after their first child was born, she came along too. Then later their son joined us. Sometimes Craig would talk about houses they should have chosen and bemoan the rising prices. But still, they couldn't find a house that was "just right."

A month or so ago I ran into his wife at the grocery store - she had just picked the kids up from school. And guess what? They're still living in that rental they moved into after the wedding.

Had he gone ahead and bought a house - any house - when we first started looking, right now he'd be sitting pretty, with low payments and equity of more than the original price.

Poor Craig - he was just too picky.

Just when you think that the crazy stuff is only happening to you in this biz, you read something on Activerain that gives you a little boost that confirms you are not in this alone! Love the post, as if I wrote it from my own experiences.

Probably about the same for all of us.

I love when a buyer needs to buy a house for the family....

I hate when a buyer needs to buy a house for their dining room hutch/entertainment system______(fill in the blank)!

I LOVE your post! And, like many others, I hate that I didn't get there first, LOL! I am so looking forward to Part 2, Part 3, Part 4....however many parts you want to come up with. I'll be reading them all!