Arnie Stein talks about some of the pluses and minuses of being part of a team and the state of real estate.<!--more-->
Dan: Today we are talking with Arnie Stein, Broker Associate with Fuller Sothebys International Realty and head of the Stein team, welcome Arnie.
Arnie Stein: Hey Dan how are you, thank you for having me.
Dan: Good to having you here. I said you are the head of the Stein team, we see teams in real estate quite a bit now, talk a little bit about being part of a team, the pluses, the minus the challenges.
Arnie Stein: Right well from my perspective there are no negatives.
Dan: Okay.
Arnie Stein: You know, the challenges I think is the keep everyone on the same page and to keep everyone focused on what the team score really is.
Dan: I am a part of a team as you know, and I think for me if somebody asks me I would say communication.
Arnie Stein: Right.
Dan: Really trying to make sure that we are communicating everything to the entire team thats been set by the buyers and sellers, are you in that same kind of...?
Arnie Stein: Well absolutely, and I think you know part of the communication process and one of the things that I think all of us can do in the business that are, thats absolutely essential is the feedback part of our business.
Dan: Yeah, talk a little bit about that, I mean what do you do to collect your feedback?
Arnie Stein: Of course we, you know we use the internet to receive our automatic feedback, but you know the best was is actually to call the broker and one of the biggest problems with the feedback part our industry is that we are not placing enough emphasis on really getting quality feedback because if we get the right information we will be able to communicate that to the seller and sell the property faster.
Dan: I am in total agreement. I just read a newspaper article about that. So personally how long do you wait after the showing before you pick up the phone, I mean this is everybody has their own you know, different agenda of how they do it, but for you what do you do?
Arnie Stein: The best thing to do is to call immediately.
Dan: Okay.
Arnie Stein: So that means the same day, could be the same afternoon, the same morning, whatever, if the showing at 10, at 11 oclock you should be on the phone.
Dan: Well that was another question I was going to bring up because some people would say well I dont know should you make these calls during business hours and these e-mails to business hours, or should you wait till later in the evening or what, is there a specific time to tear or does it matter?
Arnie Stein: Waiting doesnt help anyone I think you know, as brokers we see enough properties out there. Sometimes some of the information may slip away from us if we dont speak to someone about it immediately; therefore I think immediate feedback is absolutely essential.
Dan: All right obviously challenging times for sellers and opportunity for buyers, challenging times for realtors. If a realtor came up to you and said "Arnie what do I have to do to be successful in todays economy?" what would you say?
Arnie Stein: I would say to perform a business properly which includes being accurate with your listings, that means communicating the information very accurately, that means taking a lot of pictures using the new MLS to enhance 25 pictures with caption, and working your tail off I guess.
Dan: Yeah thats really networking, networking, networking.
Arnie Stain: It really is.
Dan: And you have heard realtors over the last several months say "Well I am working twice as hard or three times as hard for the same amount of money", is that just symptomatic of whats going on now in the business?
Arnie Stein: It seems to be, but you know the other part of this is that some of our business is getting lost on the weekends, and by that I mean that you know real estate is a seven day a week business, that doesnt mean you have to work seven days, doesnt mean you can take off a day, but I think it means that you cannot abandon the business on the seventh day or at least have someone covered for at least six days. So if you are doing REOs for example and those are perhaps one of my pep eves that often times its impossible to reach an REO agent over the weekend. We know the banks dont...
Dan: Participate.
Arnie Stein: Yeah participate, and you cant make an offer on the weekend, but you can have an offer presented on the weekend, but the point is that someone needs to be available to answer some questions because we are out with people that maybe need to make a decision that weekend.
Dan: Yeah, banks need to know that people make decisions on off hours.
Arnie Stein: Right, well the brokers do, thanks Dan I appreciate that.
Dan: All right thanks for being here.
Arnie Stein: Sure my pleasure.
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