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Do you buy what you are selling?

By Alan Kirkpatrick

Real Estate Agent with Austin Texas Homes

January 26, 2008 04:06 AM

My first piece of real estate was a single wide trailer. It was about a 15 by 65 two bedroom one bath and a stackable washer and dryer unit in the bathroom. It was new in 1972, I bought it in 1984. It was in an aging Mobile home park but it was clean and safe. We bought it for 4500 dollars. We went to work on it and put new carpet in it updated what we could, put a new air conditioning unit on it. Re-coated the roof and did a little landscaping. Brought our first child into this home. We sold it for $6000 dollars a couple of years later.

How about you? Do you buy what you are selling? I am surprised at how many Realtors there are that do not own a single piece of real estate. Oh yes, I have heard the reasoning: when I get some money saved up I plan to buy a home, when I get my credit cleaned up, I am going to buy a condo...etc,,

I think owning real estate is more important for a Realtor than owning a fancy car. It was very scary at first for my wife and I. I have written checks for properties that did not have renters in them to help us pay the mortgage and that gets scary after 6 months.

If I can be of any encouragement or help, let me know. If you want to invest in a growing market check out Round Rock/Austin area. Where there is a will there is a way.

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Jason Crouch

Austin Texas Homes, LLC - Austin, TX

Broker - Austin Texas Real Estate (512-796-7653)

Alan - This is an excellent point. I know a few Realtors here in Austin who are still renting. Why?

Jan 26, 2008 04:11 AM

Chelle Gassan

RE/MAX Regency and Staged Homes VA - Bristow, VA

NOVA Realtor and Stager

I've been working with an agent for the last four years who has been a renter. It does not make any sense to me whatsoever. She can't convince her husband to buy...go figure.

Jan 26, 2008 04:33 AM

Matt Ratcliffe, REALTOR

Keller Williams Realty Brazos Valley - College Station, TX

Rent is not a bad thing...You never know what he agents personal situation might be. They could have had health or family situations that may be affecting them...Stay in curosity not judgement.

Jan 26, 2008 04:43 AM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Jason:

I just know that if I go into a car dealership and the salesman does not use the product (a car any car) or know much about it, I have a hard time buying from him.

Chelle:

I agree, I firmly believe that we should at least be buying owr own homes.

Matt:

You make a good observation. There could be circumstances that we do not understand. My point is that I have met quite a few agents who have license to sell something they do not own. It might be better to buy first even if we have to wait a few years to get our license. I believe it is so much easier to sell real estate when you have been through the process as a buyer and even a seller. Not a prerequsite of course but, it can make an agent a better agent.

Jan 26, 2008 05:18 AM

Chul KIM McGuire

CorpusTV.com - Corpus Christi, TX

Matt,

Most people should work towards owning real estate. It's still a great investment, especially a place that they can my "Home Sweet Home."

Yes, some Realtors still don't have their own place. They probably have their own personal reasoning.

2008 will be the year of tightening up the belt for nearly every American. I'll write a blog on that one.

Cheers, Mr. C. KIM McGuire. Your bud on Padre Island!

Jan 26, 2008 03:25 PM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Kim:

That should be a good blog. Every market has its challenges and oportunities.

Jan 26, 2008 03:52 PM

Karen Anne Stone

New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX

Fort Worth Real Estate

Hi Alan: I would think it would be either pretty silly or pretty unfortunate for a Realtor to not own real estate. Thanks for sharing.

Jan 26, 2008 04:39 PM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Karen:

Well said. my point exactly. Hope you have a great weekend.

Jan 26, 2008 05:09 PM

Chuck Willman

Chuck Willman - Alpine, UT

NewHouseUtah.com

I'm in a similar boat. It would be hard to sell to the investment-property-minded without have turned a few properties myself. At the same time- I've seen a few very successful agents jump into the field with little money and a whole lot of desire to succeed. By doing so they managed to own what they sell. Nice post- I hear Round Rock is great... I wish you great success; it appears obvious you enjoy what you do.

Jan 27, 2008 09:30 AM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Chuck:

Nothing wrong with someone getting licensed and building a good business so they can buy property. Thanks for your comments Chuck

Jan 27, 2008 11:11 AM

Ricki Eichler McCallum

CastNet Realty - Corpus Christi, TX

Broker,GRI,ABR, e-Pro, TAHS

Amazing to me to think that there are Realtors who don't own or have never owned real estate. I bought my first house when I was 16, so I don't understand that. But then again, I bought my first car at 14 and had my first job at 12. Guess I've always been grown up:) Actually, I buy constantly, never a year goes by I don't buy some kind of real estate. It's a great investment.

Jan 27, 2008 12:12 PM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Ricki:

Good to hear from you. I grew up much the same way. Had my frist job at age 11 and have worked ever since. Also enjoy buying real estate, the investment has been very good too us both in good and bad markets.

Jan 27, 2008 01:15 PM

Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional

Charles Rutenberg Realty - Clearwater, FL

Palm Harbor, Dunedin, Clearwater, Safety Harbor

Texas was on the news last night - seems it is the state to be in right now if you are in real estate!

Jan 28, 2008 05:39 AM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Barbara-Jo and Bill:

Thanks for the comments. I missed the special, where did it air? Take care.

Jan 28, 2008 06:21 AM

Joey Remondino

RE/MAX Preferred Properties - Vienna, VA

Broker, GRI, E-Pro

It is funny that so many agents do not own there own real estate, I really never thought about it until now. That should be a requirement for my agents.

Feb 12, 2008 05:19 AM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Joey:

I don't think it is impossible to do well as a Realtor and not own Real Estate but it may not be completely honest. We want people tp purchase a home or land. We tell them it is the best investment they will make. While material possessions lose value ie.. cars, clothes, flat screen tv. furniture etc...

If we believe that it is the best investment people can make, I think we shoud be vested in what we say.

Feb 12, 2008 10:21 AM

Ethan Dozeman

Realty Executives Platinum Group - Grand Rapids, MI

Real Estate in Grand Rapids

My wife and I bought our first house in 2002, we own 8 rentals and our primary house now. Real estate is a great investment vehicle for some people

Feb 12, 2008 12:45 PM

Alan Kirkpatrick

Austin Texas Homes - Round Rock, TX

Alan in Austin

Ethan:

Congratulations, sounds like you are on your way. Besides being a good investment, I think real estate is fun. We have a lot of fun buying, leasing and selling our properties. We enjoy adding value to them by sweat equity.

Feb 12, 2008 01:01 PM