This blog is so true. Not only do we have to have continuing education for our profession, but we also have to be legally responsible for the contracts and carrying out of said contracts. So, please don't compare us with used car salesmen!
Please go and leave your comments over on Peter and Linda's post - I'm sure they will appreciate it!
Please,..... Don't Compare Us Realtors With Car Salespeople!!!
While it's common to compare real estate agents to car salespeople, they really have very little to nothing in common at all.
Recently I went car shopping in Victoria BC, and as a long time car enthusiast, and relatively loyal customer, I started by visiting the dealership where we bought our most recent sister cars (Linda's white Chrysler Intrepid and My white Chrysler Concord). As they are getting on a bit, we have been thinking about replacing one or both over the next year or so.......
My Experience at the dealership we have bought a total of 6 or 7 cars over the past 20 some years, was so bad that with this experience in mind I was inspired to write this article and to compare Real Estate Agents and Car Salespeople......(no I won't name names, but call me and I will tell, maybe...;)
First and likely most significant difference is in the titles.......
Real Estate Agents act on behalf of his or her Principal (buyer or seller) as an extension of their principals (this is limited to some degree by laws in each state or province)
Sales People only work for their Employer/Contractor, and are not able to bind parties to contracts
While both Agents and Salespeople help out with a purchase and or sale of either home or vehicle, the education, accountability, motivations and expertise behind that help differs vastly.
In Victoria BC and most other Jurisdictions in North America, real estate agents are continually educated, are required to adhere to ethical and legal standards while looking to build a life-long successful real estate relationships with their clients.
In General Real Estate agents routinely get bashed by the general public for either being too pushy, or not pushy enough, and or out just for themselves and the almighty dollar.
In Reality however, when asking most recent home buyers or sellers, they will say that their agent made a huge difference in the the process of buying or selling and added substantial benefits to the experience and bottom line.
It is unfortunate to equate real estate agents with the persona of the car salesperson. You know the stereo type of the guy/gal who dresses a little too nice and talks a little too fast...all the while pushing you toward something you might not be able to afford or even like.
While there might be a small handful of real estate agents who fall under those descriptions (as there are in any profession), the majority of real estate agents are honest, hard-working professionals who live and breathe real estate, at least that has been our experience in Vancouver and Greater Victoria BC for the past 25+years.
Here are 5 additional reasons why a real estate agents should not be compared with a car salesperson in our opinion:
1 - Education. Real Estate Agents complete substantial education and pass one or more exams in order to become licensed.
This isn't a week's worth of "sales" training, in fact there is little if any sales training at all. A licensed real estate agent has to learn about the laws and procedures regarding the province or state in which he intends to list and or sell real estate.
A licensed real estate agent is then tested on that knowledge via an intensive provincial or state exam.
And the education is not over once the agent gets his license. Every province has renewal requirements, to complete continuing education classes ensuring that every agent is up to date on the latest news and policy in the real estate profession.
2 - Oversight. Real estate professionals are kept in check by their Licensing Councils.
Not only are there many license requirements that each province has but there are also disciplinary actions that can be implemented by each real estate licensing councils.
Real estate agents can get their licenses suspended or revoked by the provincial or state licensing council.
3 - Code of Ethics. Each and every Real Estate Professional is accountable to their local board's, their provincial or state as well as their National Code of Ethics.
CREA in Canada and NAR in the United States are some of the the largest professional organization in existence. Each and every real estate agent who joins their national association is obligated to adhere to this Code of Ethics, which is geared toward protecting consumers and ensuring that real estate professionals act within ethical standards.
Have you ever asked or expected similar accountability to a Code of Ethics from car salespeople?
4 - Requirement of Disclosure. A real estate agent must search, seek out and disclose all material facts known about any home and anything that may affect the purchase or sale of Real Estate.
An agent can't misrepresent a home to you, its condition, etc. in the hopes that you won't find out until it's too late (and you've rolled off the lot).
There is no crossing of fingers and hoping all works out because not only is the real estate agent's reputation on the line, but also his status as a licensed agent.
With every single real estate transaction, an agent is putting himself at risk of legal and financial consequences.
Why would any reputable agent risk losing his career and possibly a lot of money in court? He wouldn't. So the real estate agent will err on the side of caution and disclose everything he ethically and legally must disclose.
5 - A home is the single most important financial transaction of your life.
Professional Real Estate Agents understand this. They understand that there is no such thing as "one size fits all" when it comes to helping you purchase or sell your home. We fully understand that the property is part of a number of events and situations taking place in your life, and will seek out to address all or most in offering their expertise and experience
While a car salespeople might find out about your earnings and push/drive you to a vehicle at the edge of your afford ability (or beyond). Conversely your Pfanntastic real estate professional will also consult with you about, monthly expenses, interest rates, market conditions, return on investment, financial suiteability, to help you determine the best possible fit for your new home and financial situation.
From there, your real estate professional will encourage you to speak with a mortgage professional to obtain the most accurate picture of your financial ability to buy. Only then will the real estate agent start to narrow down your home search. Because the real estate agent understands that it's not only a financial issue. You have wants and needs that the real estate agent will evaluate in order to find you a home; you're not looking merely for a roof over your head.
Peter and Linda Pfann are very proud to be long time Real Estate Professionals in Greater Victoria BC, and with our recent experience at a local car dealership, we hope that you can understand that we really do not want to or feel we deserve to be compared with Car Salespeople.
Planning to buy, sell, upgrade, downsize, invest in real estate or relocate to Greater Victoria, and need information about your present or new area of choice?....... No Problem.
Peter and Linda Pfann now offer a FREE Pfanntastic Internet Service, keeping you informed about Greater Victoria Market Activity, including New Listings & Value Estimates, This absolutely Free no hassle service is completely customized to your specific requirements.
We call it: Victoria Homes Now, and this amazing little tool will ask you a few questions, and provides you with an updated snapshot of the property type(s), location (s) and real estate market activity as per your requirements.
The Pfanntastic Victoria Homes Now Service is Free, The Information is Invaluable,
Please let us know how we can be of Service to you.
Kind Regards, and Live a Pfanntastic Life
Peter & Linda Pfann,
MBA, ABR, SRES, E-Pro, CSA, Associate Broker & Realtors
"Pfanntastic Victoria Homes & Service, Since 1986."
Real Estate Consultants & Associate Broker at;
Cornerstone Properties Ltd.
# 106 - 1001 Cloverdale Ave.
Victoria BC, V8X 4C9
Direct: 1(250) 213 - 9490
Direct Fax: 1(250) 412 - 6530
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