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Practicing or Performing Real Estate

I just read a blog post by Scott Daniels titled: You have to have the right tools in order to practice Real Estate.

He shared a story about a real estate agent who was trying to practice real estate without the proper tools. Besides noting how poorly their clients were probably being serviced; it made me think of another question. When taking on a client are you practicing real estate (I mean in the context of trial and error) or are you performing the business of real estate?

Many times we as professionals run across others in the industry that clearly does not have the tools to represent clients correctly. Many are simply learning the business on their client's dime?

Michael Jordan spent thousands of hours shooting free throws and practicing ball handling and shooting skills to prepare for the games. He did not practice them in the middle of an NBA Championship game.

So many new agents think it is OK to practice in the middle of a transaction. If you do not have the skills or tools to do the job, get them. This is not amateur night. You are dealing with huge transactions and they require a top professional. You can not ensure your client's rights are protected if you are simply practicing.

If you need to learn the business, find a broker who provides proper training. Team up with a top agent. Act as an apprentice or an assistant to better learn the business before trying it on your own. This is the best advice I can give anyone breaking in the business. This is a tough career. If done right it can be quite rewarding. If done wrong it can be a total disaster.

Clients are buying and selling the most expensive thing in their life. They need a professional in their corner who can protect their interests at all times. If you are new in the business, you are not it. Sorry but that is the truth.

We all have to start some place, but do it the right way. Would you want a doctor who is learning medicine or one who has already gotten their education?

In the last two weeks I have run into a couple of agents who really should consider other lines of work. I have also heard a few more horror stories from others including one this morning.

My advice to the public is check out any potential agent.

How long have they been in the business and how many homes have they sold?
Are they a full time professional or do they do this on the side.
If they are part time are they part of a team that can service you full time and in a professional manner.
Look for designations after their name.
That will give you a clue as to how serious they take their training.
What level of license do they hold?

The above list are a few items that may give you a hint as to how serious your potential agent is about their career and whether they perform or practice real estate.

Posted by Randy L. Prothero - Hawaii REALTOR® on 12/17/2007 04:21 PM

Comments (32)

real estate etchics, real estate, hawaii, century 21, real estate buyers, real estate sellers

Originally posted at: Hawaii Randy's Real Estate Opinions: Practicing or Performing Real Estate

This post has been included in Hawaii Information

32 Comments on Practicing or Performing Real Estate

DEC

2007

Great Blog. Agents are not perfect and are going to make mistakes because they are human. But if you don't know what you are doing, you are going to hurt your client. They are the people who keep you in business.

It always reminds me of those Holiday Inn Express commercials...."No, I'm not a heart surgeon, but I did spend a night at a Holiday Inn Express!"

We all where new once. The newer agent needs to be paid as well. How did you get your start? I agree that a new agent should watch out and ask many questions. But all in all you learn as you go in this line of work...Sharon

Happily most of the novice realtors, have given up in the trying times here in Florida, which is a good thing overall. Nothing is more frustrating than the other agent not having a clue as to how the process needs to be completed and what their duties are. Good post-great read!

Randy I agree with the point that you are trying to make, but part of being a professional is having the ability to switch gears when you run into obstacles and knowing the business well enough to get creative if you have to. That comes with knowledge and confidence. Michael Jordon did not practice dribbling and shooting during the game, but how he put those two things together were often created on the court. We have to know our craft in the same way so that we can execute those skills when the time comes.

I would always encourage a consumer to go with a true professional. The pros will be able to mitigate the land-mines and negotiate thousands of dollars in the consumer's favor.

Excellent tips Randy! Training is so important...it can make or break you.

Happy Holidays

I try to attend all of the training my company offers. However, this doesn't give me those designations you mentioned. I totally agree with your Dr.'s analogy. I don't want to deal with anyone who isn't qualified so I will continue to work towards being the expert in my field. Great post.

Oooohhhh....you know my horror story over the weekend. Some clearly need more experience and when in doubt....or even they "think" they are not in doubt.....ASK anyway!

Randy-I remember my first contract...I was scared "shi....ss" that I would mess up, and I did !!! This was after I had spent months working with another Agent, and asking a gazillion questions, reading everything that wasn't nailed down, watching and listening......and I still messed up. But I learned, and immediately corrected the error with the client. Now, I am a stickler for getting the contract, negotiations, etc. right.....and so much of it is what we take the time to learn......

Good Post again :)

Randy,

Another......Right On!

Are you having an AR get together at the CRS Salebration?

Did you know that Rob will be there?

Tell him "hi" for me!

Take care,

Lucky :)

Right on point. I will say that agents have to start somewhere. Thus the bullet on "how many houses have they sold" wil hurt if someone doesn't give the new guy a shot. In the slower market, new agents bring new ideas to the table. Details can be worked out with good broker coverage. But fresh minds bring a new way of getting to the goal - selling the house.

Good article.

Zen - They will definitely hurt their clients if they do not know what they are doing.

Rich - LOL

Sharon - I also worked many years back assisting in developing and managing about 100 units for the owner. I also had about 25 years of sales experience and was licensed in the past. Even with that back ground I took a lot of education classes and worked closely with my brokers and another experienced agent. I did not learn by trial and error on a clients transaction.

Allison - It is more than annoying for me to deal with an inexperienced agent on the other side. I feel real bad for some of their clients.

George - That is true. The skills need to be developed before tackling the transaction.

Chris - That is a good point. Who do you want negotiation on your behalf?

Monika - I agree completely. I have a lot more training than most and I still attend regular classes.

Latonia - When I took the ABR course earlier in the year the instructor made a comment that stuck with me. When he needed oral surgery; his surgeon had several designations after his name. Even though he did not know what they meant, he knew he needed a surgeon with them.

Sally - The situation you are mentioning is a perfect example of an inexperienced agent not knowing what they don't know and charging forward.

Kathy - Can you imagine doing it on your own without the months you put in before that? I see inexperienced agents trying it that way frequently. I think some of their brokers should be held responsible a little more also.

Lucky - We are having a gathering. Sally and I are having a little trouble deciding on a location. We will nail it down in the next week or so. I look forward to seeing Rob.

Scott - The new guy can always team up with an older guy to get the needed experience. When talking about the biggest dollar item a family owns, giving a new agent a chance may not be a great idea. That new agent needs to finds a way to earn that.

DEC

2007

Randy,

I'm not the biggest advocate for all these extra classes on RE education but I believe you need a small foundation from that...most of my experience comes from street smarts.Interacting with real people in the public is where I see the most experience.... Practice makes perfect.

Randy - Practice does make perfect or near perfect. But.... I have met a few "professionals" with lots of designations who I doubt could walk a dog without screwing up!

Neal - I do not know many who have a broker's license and several designations who take their career less than serious.

Gary - That must be a local phenomena. All of the real estate agents I know with a broker's license and professional designations, especially CRS are professionals. Haven't met a CRS in my area that is not good.

Randy - A newer agent asked me to team with her on new construction. I told her that I hadn't done new construction before and encouraged her to team with someone who has. Taking on something new isn't a problem, but not having the proper support as you begin working with a client in a new area is a problem.

Gail - That is an important point. Even if you are an experienced agent you should not go outside you area of expertise.

Real Estate is a team kind of thing regarrdless of everything else! Yesterday one of our agents, faced with a real gnatty problem was sitting with her client, and with her were three other agents there to help sort thru the thistles. Her winning was a real team effort! You hit the nail on the head, a person needs all the tools, and then sometimes, they need support from their "family". Jerry

jerry - You are so right. Having strong support at the office and at home are so important.

DEC

2007

Randy, times like this makes me feel the Christmas Spirit! This is an absolutely great BLOG! But then, you do some fantastic BLOGS. No wonder you are the Featured Blogger of the Century!. Jerry

DEC

2007

Jerry - Thank you.

Randy,

Thank You so much for the mention.

Scott - You are most welcome. Your posts are thought provoking.

DEC

2007

Randy, I am motivated! Good to be working with you. By the way, I opened your web page today from your links. You have done a great job with it. I hope others will take a look as well. Jerry

Jerry - Thank you. During the holidays, I am hoping to take a few hours and upgrade them.

Randy, truly an outstanding post! Should be required reading.

Randy,

I teach real estate in Arizona and your words tell the tale. So many people don't understand that our business is not the key to Ft. Knox, that the journey is a difficult one. We know what it's like to miss a speciial event because a client needs us. We know about working on holidays. We know about the pain of not qualifying for a loan. We know about negotiating inspection repairs. But we also know that those same lows turn into incredible highs when we close an escrow and the buyer turns to us and says, "Thanks. We couldn't have done it without you."

I'll keep reading your posts. You speak common sense and show your professionalsim. Good luck.

Kathy Howe

http://how2educate.com http://how2sedona.com

David - Thank you

Kathy - You are so right. I see it everyday.

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