Real Estate Is A Bit Like a Game of Poker! ”It takes minutes to learn the game and a lifetime to master it.”

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

                                     High Poker Hand

Real Estate Is A Bit Like a Game of Poker!  ”It takes minutes to learn the game and a lifetime to master it.”  It's true of poker, and I think it is also true of real estate. It takes a very short time to take the real estate class and pass the exam. Yes, you are an agent but how long does it take you to learn the profession?

                                                      944 HomeRome

Many  buyers and sellers decide to go into real estate after their own transaction. They think 'So much money for doing so little'. I  have been asked for help with mentoring, leads, coaching, technology tips, what classes to take and what tools to use.  I give this advice freely. An agent today asked how to get a broker's license..he wants to run his business like me. Dozens of clients  have gotten their real estate licenses because I make it look so easy.

 

                                                                           Margaret Rome speaking

Many times I meet these agents in classes where I am speaking or attending. They are surprised. Why is an established agent still going to these seminars?  Too often, they just don't get it.   Making it look "easy" takes years of practice and experience along with continual learning.

How many of these former clients have made a success in real estate? How many have even made it through the first year? How many have had to sell the house that I helped them buy within that first year? How many have gone back to their "real" jobs?  How many have blamed the economy and the declining market? How many have said this was the wrong time to start real estate?    I think you can guess.

These new agents take the classes, pass the exam, get a business card, sign up with an agency, get a custom logo, have a website designed, make up  a catchy email address and even get that latest smart phone. They may even pick a special number. They do all the things an agent "should" do!

But no matter what 'golly gee' technology or sure-fire lead system is implemented,  there is  nothing like good old, roll up your sleeves experience. It takes time and effort to acquire the skills, techniques and knowledge. 

Keep doing the right thing, taking care of your buyer or your seller one deal at a time.  Learn from each transaction and you will  see dividends in loyal clients, respect from your peers, repeat business,  a waiting List and income that reflects all that hard work.

Real Estate Is A Bit Like a Game of Poker!  ”It takes minutes to learn the game and a lifetime to master it.”

                                                                          410-530-2400

 

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Rainmaker
3,768,308
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Margaret....what a great post.....I really enjoyed reading it..... and you must know I love playing polka!!!  experienced agents always make this business look easy.... the more relaxed one is, the more easy it appears.....but it's anything but easy for a novice agent.... it takes time and alot of practice.

Feb 10, 2012 05:24 AM #45
Rainmaker
390,346
Alan Gross
PrimeLending, A PlainsCapital Company - Bethesda, MD
Loan Consultant

There is no substitution as good as experience as a teacher.

Then you have to keep up to date. I take a class every Friday and recently began offering a class every Tuesday for real estate agents.

Both these classes are on the web so they can be done at home of wherever you are.

 

 

Feb 10, 2012 06:12 AM #46
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
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Wayne and Jean, So much to learn and have fun in the process!

Randy, If you are in the busy long enough..you may get a royal flush now and then!

Janis, We learn with each transaction and even more sometimes with those that don't make it.

Gita, A little luck never hurts...but it just can't sustain you forever.

Fernando, I was thinking about that for a title..Know when to hold em....

Richard and Jean, There are moving parts to keep it together.

Erika, Learning each and every day...you understand.

Richard, Not enough time to "catch up" we have to "stay up".

Charles, Continuous learning is the key.

Michael, You can bluff in real estate but the outcome is not pretty!

Cheryl, When I first got into the business..it was "fake it til you make it."

Jimmy, Love seeing you on my posts!

Mike, Technology can make things easier but it cannot do the selling, handholding, negotiating etc.

Wendy, You have that right.

Richie, I like your analogy..making coal into a diamond.

Thanks Heather.

Jon, Taking classes, being around others who are willing to share their experience and making deals happen is how to stay on top of this game.

Clara, You are so right. And the real estate course teaches you how to pass the exam...not how to sell houses.

Gene, Thank you.

Bill, Not sure if 'they' would get it by reading a post.

Ellie, Real Estate not poker. Too much at stake.

Donna, The grass is greener until you start to mow it.

Paige, It is interesting to hear others who feel that way.

Kat, So much to learn and it is fun to do.

Cynthia, We are always striving to master and always learning more.

Paula, The main reason for being on AR...learning.

Barbara Jo, Knew it as soon as I hit that nail.

Carie, We will never stop learning.

Debbie, Past real estate agents are a wonderful referral source. Happy Valentine's Day to you.

Benjamin, Thanks,

Barbara, Do you dance or play poker. Anytime you are in Baltimore..there is a game at my house on Monday nights.

Feb 10, 2012 06:21 AM #47
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Alan, I would love to take one of your classes. Tell us more!

Feb 10, 2012 06:22 AM #48
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Margaret, 60 hours of class, 1 hour to take the exam and after 8 years in the business every day is a new adventure in learning. And with the CE requirements,  we get to continualy stay in classes and seminars while trying to make sure our clients after properly serviced.

Feb 10, 2012 07:37 AM #49
Rainer
200,990
Jark Krysinski *PREC (Personal Real Estate Corporation)
REMAX CREST REALTY WESTSIDE - Vancouver, BC
TeamYVR Team Leader, BA,ABR,IRES,IMSD,LLB

Hi Margaret, I couldn't agree you more! You tell the truth. As a realtor, me, I think we are not only should have a lot of knowledge in the book and also social experience. As a realtor, my friend, told me that sometimes he feel so stressful. In my opinion, stress sometimes can make life successful, proper stress is necessary and as long as you can get rid of it or overcome it.

Thank you for sharing with us this excellent post!

Have a great day!

Feb 10, 2012 07:50 AM #50
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Tammie White
Franklin Homes Realty LLC - Franklin, TN
www.FranklinHomesRealty.com or (615) 495-0752

Too often people get into this business thinking they'll make a quick buck. It might seem easy to learn but tough to master.

Feb 10, 2012 10:07 AM #51
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Margaret, you hit it out of the park with this post! You can't replace experience and education is an on going process!

Feb 10, 2012 10:53 AM #52
Rainmaker
2,474,735
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

When you have done it long enough and well enough....it looks easy to those who are less experienced...wait for the phone to ring and shuffle paper..right ?:)

Feb 10, 2012 11:09 AM #53
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Margaret, After reading your post, I immediately remember what Karen Kruschka says in her blog signature.

"Experience Isn't Expensive, It's Priceless", It does take years to Master your skills too. We can't get it all in one teaching either.

Feb 10, 2012 04:41 PM #54
Rainmaker
315,851
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

Love the analogy! And after you learn it all, there's a new deal and you have to work with the new hand you have been dealt. Great post.

Feb 10, 2012 06:53 PM #55
Rainer
50,029
Barbara Bartell-Kamp
Keller Williams NY Realty - White Plains, NY
Westchester County NY Rentals, Condos, Coops, Home

I LOVE THIS ARTICLE.  Especially the line about new agents taking the coursework and exam, getting the biz cards, website and technology...and then realizing...NOW WHAT?  It takes tons of networking, being visible, reminders to friends/family/ex business associates that you are here and actually can offer something better than the 5,000 other real estate agents they know!  Then, its really staying on top of the buyers on a daily basis to make sure that their loyalty is in your corner so you don't loose the deal at the end, or keeping your sellers happy to they don't go elsewhere on Expired day!  Of course, there is the most important part..making sure that deal goes through! Every day is a poker game...different hands are drawn each day, and you hope yours is the one that wins!

Feb 11, 2012 05:56 AM #56
Rainmaker
912,382
June Piper-Brandon
Remax New Beginnings - Baltimore, MD
Piecing Dreams One Home at a Time

Margaret, Oh how true it is.  A few years ago when the market was better than it is, I was trying to encourage my broker to open a new office in Baltimore County or closer to the City.  In the meantime I started taking the broker's class.  I had an opportunity to take over an office in Glen Burnie so I finished up my Broker's license and became a broker owner of an office.  My hair got grayer, my blood pressure higher and my pocket book thinner.  I have never been happier to be back home at Century 21.  I think I should have done my homework better before jumping in to something at the word of a former friend.  Being a Broker isn't for the faint of heart and you really do have to do your homework.  Perhaps if I worked for just myself and didn't have to supervise agents and take over someone else's kingdom it might have been easier and better.  But, hindsight is 50/50 and real estate, especially now, is not easy.  It's hard work and a lot of hours. 

Feb 11, 2012 10:17 AM #57
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William Johnson
RE/MAX Associates - La Jolla, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

Hi Margaret, A bit late to the party. As I begain reading this, it occured to me that this has to be featured. I made way down and saw that it was not only featured but already had almost 60  comments. Well done,  the analogy is wonderful.

Feb 11, 2012 01:48 PM #58
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Ed, Every day is a new adventure. Just keep enjoying them.

Tammie, But it looks so easy...just go show pretty houses.

Jark, Thanks for taking time to stop by.

Connie, It is indeed.

Sally, Piece of cake...nothing to it.

Jerry, That is a good quote from Karen.

Sandy, Always new hands and others with card up their sleeves.

Barbara, Very thoughtful comment..like June you could make your own post.

June, You comment would make an excellent post. So glad that you are at the right place for you.

William, Thank you! Always good to see you!

Feb 11, 2012 02:19 PM #59
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Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Margaret - This is so true.  I've been licensed for over a dozen years, and I still have so much more to learn.  Thank you for taking the time to add to my knowledge this last week.

Feb 11, 2012 02:37 PM #60
Rainmaker
288,001
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

I watch the new agents come and go every year...it always amazes me how they spend the money and time on the license without ever asking the right questions. Then, a year later, they fade away...

Feb 12, 2012 08:56 AM #61
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Christine, That is why you are such a good broker...always learning. Enjoyed our conversation last week. Maybe we could brainstorm on a regular basis.

Tim, These agents who fade away are a good source of leads. Stay in touch with them.

 

Feb 12, 2012 02:40 PM #62
Rainmaker
288,001
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

That's a great idea, Margaret. I'll start adding them to the drip list.

Feb 13, 2012 01:09 AM #63
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Tim, Those former agents will remember how you treated them while in the office.

They really are a good for leads.

Margaret

Feb 13, 2012 05:37 AM #64
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