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Here are a few facts to help you decide.  We'll start off with some consumers who see a Realtor as the big bad wolf just waiting to take all the change out of their pockets.

No matter how you view it, the facts are:  Realtors do not get paid until the transaction goes to settlement.  The commission stays the same no matter how many hours, negotiations, paperwork, calls, e-mail, setbacks, advertising, hand holding and sweating the Realtor does.

Hours:    For one client alone, the hours begin with the first meeting and signing the appropriate forms.     

This can sometimes take two hours after explaining the paperwork, and if a buyer is the client -- there is the building of rapport and also some idea of what the buyers needs are.  Arriving at whether or not they are pre-approved and if not, do they need help with a lender.  Then comes the task of assigning the right lender and if they have funds for a conventional loan or do they need FHA assistance.  Hours are assigned to searches for homes that will interest the buyer.

If the client is a Seller, the Realtor may be going through an interview.  This is the same as positioning for employment.  Because of the internet, many consumers are aware they have the right to examine more than one agent's credentials.  The agent has to show that he can meet the needs of the client with the products that he presents.  The marketing plans are an essential part of that presentation.  Here again there is a time for building rapport and if the agent is engaged, more forms will be completed.

Calls:       These are made when certain issues arise and whether or not they can be resolved.

E-Mails:  To keep the client abreast of progress on the sale of a home or finding a home suitable for the client's needs.

Negotiations:    This is the one where the Realtor is worth his or her salt.  A lot goes into that word; it is not limited to the strategy used by an attorney in winning a case.  So many issues can arise when initiating a contract that they would be too mumerous to mention here.  When the client walks away happy, the Realtor has successfully completed the terms.

Advertising:     Your Realtor has to spend the time to make sure a home has the exposure neccessary to get sold.  For the buyer, the Realtor scans every option out there and this means the Ads that come through e-mail and other sources that will give his client the best choice possible.

As far as handholding goes, this is the great relationship that develops between the Realtor and the client.  In the end, the client truly realizes what he paid for and does not have any further doubts.

                                           

 

37 Comments on DOUBTS ABOUT HIRING A REALTOR?

JUL
23
2010
124,865 Points 1 Featured Post Attended Rain Camp Called Shot Master

Thanks for this great blog Ann.  I re-blogged it to my clients.  Much appreciated!

9:48am • #1
1 Featured Post Outside Blog

Hi Michael, that's a great compliment.  I could have added more but, I didn't want it to be too lengthy.

Ann

12:45pm • #2
JUL
25
2010
573,692 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Ann, knowing what I know, I would not even consider buying or even selling my own home without the help of a Realtor. 

10:15am • #3
JUL
26
2010
415,730 Points 29 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Well said Ann. Much of the difficulty we face is that so much of what our new prospects "know" ain't so. We have to educate them  out of misinformation.

11:00am • #4
JUL
28
2010

Steve and Jan thank you for your comment.  I thought this just went out to space.  Seriously, I agree with you entirely.

Silvia, you're a darling to say that, these days realtors take so much heat.  Have a good one

Ann

8:47am • #5
AUG
08
2010
687,906 Points 83 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yes, the time adds up.  But the clock (for me anyway) starts to tick the minute I read an email of inquiry into my services, or the phone call.  Then, when preparing for a meeting, it's on the clock.  I can meet a potential client, and have already put 1-2 hours into it!!

12:48pm • #6
421,594 Points 76 Featured Posts Called Shot Master

Ann -  And take it from someone on the other side of the transaction, "I ALWAYS use a Realtor when I'm buying or selling property.  As a former homebuilder, I was happy to pay the commission; it meant I had sold another home!  And when I purchase property, I want an "expert" on my team, helping me make certain I have all MY bases covered.

8:54pm • #7
106,055 Points 3 Featured Posts Localism Sponsor Attended Rain Camp

Ann,

The hours are countless.   It's almost a 24 x 7 job.  Kudos for writing about this. 

10:13pm • #8
440,708 Points 7 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The amount of hours put into any transaction are probably going to be more than anybody really thinks.

10:21pm • #9
103,403 Points

Thanks for the post!  You hit the high spots and we all know it takes a lot of effort and time. 

10:48pm • #11
173,423 Points 15 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great post!   So many people think this is an easy job and it rarely is.  Yes there are a few bones thrown our way here and there, but most of the time it is a constant nearly 24/7 job.  If we are not literally out showing or selling, we are carrying the weight of the responsibility we shoulder.   I wake up in the middle of the night thinking about transactions - that is why we earn our commission.   It never ends, we don't get to "clock out" or "leave it at the office", we ARE the office.

11:01pm • #12
116,215 Points 3 Featured Posts

Ann,

Prospective clients do not always look at the total package that a Realtor brings to the table.  They are only concerned about money.   You highlight key points that should be emphasized to clients.

11:05pm • #13
546,419 Points 11 Featured Posts

Hi Ann -- You are so right, some consumers have no idea about the complexities that can go into a real estate transaction, and how an exceptional agent can ensure their client's interests are well protected.

11:21pm • #14

This is so true to so many professions!  The more I work with realtors the more I learn as to how much time and money you guya put into a listing.  I work 24/7 also as a business owner and Interior Designer and often times no one realizes how hard we work either.  Clients need to know what professionals are doing with their time and money so that they can better appreciate the efforts being made on their behalf.  I have a whole new respect for what you realtors do now that I work hand in hand with some of you staging homes for faster and better resale.  Ann, good job showing how hard you work for your clients! 

Lisa Huddleston
11:23pm • #15
1 Featured Post Outside Blog Called Shot Master

This is a wonderful outline and of course helpful to a new agent as well. Sometimes we (I) can forget what is expected of a 'good' agent.

Thanks

11:42pm • #16

Lest See, Largest Purchase most people make, buying without any professional help makes sense, NO!!!  Great Post, I will recommend.

11:53pm • #17
577,905 Points 15 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

This was so good, I may reblog to pass along to all of my current clients as well as prospective clients.

11:56pm • #18
579,208 Points 61 Featured Posts Localism Sponsor Outside Blog Called Shot Master

This is an excellent post and worthy of a reblog. So many just see us as big bags of money that do nothing but open doors and stick signs in the ground.

11:57pm • #19
AUG
09
2010
368,020 Points 5 Featured Posts Outside Blog Called Shot Master

And all the hours put in, Ann, don’t guarantee the sale will happen… which means no commission check.

12:51am • #21
165,580 Points 6 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I love the fact that we only get paid when the home is sold!  Think about our doctors:  If they only got paid if they healed someone, Doctors might do a better job.  Or, teachers only got paid when students learned something, or ???????????  

2:36am • #22
1 Featured Post Outside Blog

To Sylvia - July 25th --  Your just what every realtor should have as a testimonial.  Thank you.

6:26am • #23
1 Featured Post Outside Blog

Steve and Jan Bachman -- July 26th -- I can't tell you how many times I have done this.  Especially when someone says, "My brother-in-law sold his house without an agent."  I laugh and reply, "Oh is he a salesman?"  Fact is I let them know we are not just selling one home.  That puts a plug in it.  Thank you Steve and Jan for your response.

 

6:30am • #24
1 Featured Post Outside Blog

Carla Muss - Aug. 8 --  You are right on the money Carla, every action in this profession counts. Nice to hear from you. 

 

6:35am • #25
1 Featured Post Outside Blog

Good morning John, I am so pleased to hear this that I'm going to use it if you don't mind to let the client know that other professionals out there respect and support us.  Thank you John.

6:44am • #26
1 Featured Post Outside Blog

Susan, thank you for giving me a lift up and I also back your statement 100 percent.

Eileen, I was overwhelmed when I started this new career and realized the time involved.

Jerry, more than ever I salute my fellow agents because I know the time each one has put into a transaction.

Carol, I love your analagy, we are the office.  I think I'll put that on a plaque somewhere.

Nick,  these items never leave my head.  As carol pointed out above, we are the office.

Chris, nice going.  "Exceptional agent."  That's a term we have to incorporate into our marketing.

6:56am • #27
680,298 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I have been wondering lately how many hours go in to a transaction if you actually kept logs like some professionals. My wild guess is 150. I think it is way over 100.

7:01am • #28
144,518 Points 2 Featured Posts Outside Blog

The belief that REALTORs do not work for their paycheck, which only comes if we succeed at doing the job, is an unfortunate situation. It is important that as a group we show our clients the number of hours and amount of money we spend on their property so they see the value.

7:36am • #29

  You are right in so many ways. That building rapport with a buyer can really be a challenge since they may be calling from far away and don't know me from Adam.  They often request that we start sending them information regarding what we have in our area to look at before they actually show up in person.  There isn't much way to get paid for all that time if they are just "kicking tires"....until time passes, and we find out.

7:53am • #30
211,857 Points 3 Featured Posts Outside Blog

Maybe "this" should be sent out to the FSBO's around town so they can see the value they get in a realtor...if it's someone who actually does "all that."  Sadly...that's a topic for a rant that I don't even want to get started on!  GO GIRL!

8:28am • #31
540,237 Points 12 Featured Posts Outside Blog Called Shot Master

Ann, I recently did a consulting job for a client and was paid for the hours worked. I kept track and documented every minute. The hours added up quickly. If you took the hours involved in a real estate transaction and divided it by the compensation received, you may find the hourly pay to be very little.

9:48am • #32
271,655 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

The issue with the hours put into any listing is that if you average out the hours put into the listings that never sale with the ones that do, the amount of time can be daunting.

11:13am • #33
117,564 Points 4 Featured Posts Outside Blog Called Shot Master

Ann,

Thank you for your posts. I'de be willing to bet that mobody could put together a comprehensive list of all of the time consuming things that Realtor(R)s are asked to do. The ones that "get my goat" are the ones that KNOW they are simply using you to open the door with no intentions of being a client. (I know.... shame on me).

11:36am • #34

I appreciate both Realtors and their Brokerage firm. I was amazed how long it took to find "the house" after a long journey that took many months of searching with my wonderful and patient Realtors Ted and Kerry Morrison, of Majestic Realty here in Las Vegas, NV.

I didn't have that much of a criteria, just a small house that was centrally located not far from where I lived in Henderson. We didn't think it would be that difficult, however, I couldn't afford anything over 125K, and as the house prices were falling, the investors were seeking cash purchases, and therefore making it more difficult for me with FHA financing. We ended up having to look in Las Vegas instead of Henderson and Ted and Kerry worked diligently and I know in the long run, didn't make much if you tallied the time, gas and energy involved. They never gave up and finally found "the house" to which I closed in December. I am so thankful to have had such wonderful R.E. agents, and I know that most agents out there are just like Ted and Kerry and work very hard and long hours for their clients. They certainly deserve the commission they receive.

 

 

 

1:39pm • #35
1 Featured Post Outside Blog

very nice post....

thanks for the info and reminders

good job

vjmc

2:31pm • #36
1 Featured Post Outside Blog

Dear Lisa, bless you for your support, it is much appreciated.

Roseann, thank you much.

And thank you number 17.

Bill, that is a very high compliment, my humble thanks.

Ruthmarie, go for it.  We need to keep reminding.  Thank you.

Ed your a peach for saying so.  I truly appreciate it.

Bill #21  you're right on.

Catherine I wish that were the case. Ha Ha

Cheryl I can tell you a few stories; maybe will save for another blog.

4:14pm • #37
1 Featured Post Outside Blog

I want to thank you all for the wonderful responses you gave my post.  I also want to say how proud I am to be associated, even if only by blog to the dedicated Realtors in the AR community. 

 

4:21pm • #38
AUG
11
2010
214,759 Points 2 Featured Posts Localism Sponsor Called Shot Master

Ann, you wrote a great post for sellers to realize the value of a realtor.  Thanks

12:23am • #39

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Ann Gravel

Plaistow, NH

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Pat Bennett Realty

Address: 3 C Garden Road, Plaistow, NH, 03865

Office Phone: (603) 382-4545

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