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It's Easy to Criticize Our Industry When You Don't Understand It - Motley Fool Lives Up to Its Name

Reblogger
Real Estate Agent with SHAHAR Management

This is a post written by JASON CROUCH in response to an article posted in "Motley Fool" this week.  I have been hearing about this article in different venues for the past week but had shrugged it off.

Now that I see this article continues to get attention it bothers me as it does Jason.  It is clearly written by someone who has had a bad experience of some sort with the real estate profession. 

For those of us who work hard every day (and I mean every single day some weeks) yes, when you work you like to get paid as does everyone else with a job.  However I work to the best of my ability for my clients and for what is best for them according to their wants and needs.  I have a library full of testimonials to that effect - and I know there are thousands of Realtors out there that can say the same. 

Are there a few bad eggs here and there?  Of course!  Who hasn't had a bad experience with a Dr.?  An Accountant?  A Car Repair Place? 

But for crying out loud don't lump Realtors into one pile and say THEY are all "in it for the money" because YOU had one bad experience.

 

 

 

Original content by Jason Crouch 453249

With a post this past week entitled, "It's Official: Real Estate Agents Are In It For the Money", Motley Fool has joined the ranks of those who feel compelled and qualified to criticize our industry, which is one of the few bright spots in our economy in recent years.

The article was written by Amanda Alix, who is an apparent "expert" because she owns a duplex, according to her profile on the Fool's site.

I have two responses, one which is a point-by-point rebuttal to the aforementioned asinine article (see below), and one which is quite a bit shorter:

Duh.

 

Now for the longer, more eloquent response.

 

Let's start with the headline itself, which implies that we are not in it to provide any decent, reputable service, but merely to profit off of others. This is an absurd assertion. Frankly, I can't name any single profession that wouldn't fall into this broad, undefined category of "doing it for the money", unless you are a volunteer.

 

The first line: "Do you think of realtors as chummy, altruistic home-buying experts whose main goal is to find the perfect house for you and your family to cocoon and live the American Dream? If so, think again."

 

This comes across as someone with an ax to grind because she was burned by someone claiming to be a friend, but who knows? The jist of her post stems from the fact that there was a real estate training manual "discovered" in a New York apartment that teaches agents how to close sales. 

 

Wow. Who knew that agents wanted to have leads and sales, or wanted to get clients to meet in person to have a better shot at gaining that business?

 

Ms. Alix mentions that "a new category of real estate professional, the 'buyer's agent', has emerged". Well, if by "new", you mean, roughly 30 years ago, then I suppose it's new. I have been selling homes full-time for over 17 years, and there was never a time in my career when buyer's agency didn't exist, at least in my own state. 

Do your research, please.

 

This next paragraph can stand alone as one of the most basic, pendantic commentaries on the real estate industry that I have witnessed:

 

"Despite the fact that real estate brokers are generally not required by law in order to sell or purchase property, the industry has created a niche for itself, and many sellers and buyers consult agents to complete their real estate transactions. Like many other kinds of sales jobs, however, these brokers are working for a commission. Their job is to represent the client during the sales process, but ultimately, they are in the business to earn a living."

 

Way to go, Captain Obvious. We have created a niche that has existed for far longer than any of us has been alive. The National Association of Realtors was founded in 1908, and the Code of Ethics turned 100 years old last year. No, it isn't required by law to have a real estate broker, but I assure you that it makes things a whole lot easier. And yes, I am in this business to earn a living, but NOT at the expense of my clients' needs. Most of us take the Code of Ethics seriously. If we're good at what we do, this career can be lucrative. However, I would rather talk a client out of a purchase than make a quick buck. Like most sales, our industry is relationship-based. I like to say that I am in the friend-making business.

 

Ms. Alix goes on to use an incredibly small subset of agents to make a point about transparency - "celebrity agents". Namely, she uses an interview with ONE agent, who is on TV. I find it unfortunate that Ryan from "Million Dollar Listing Agent" has somehow gained credibility as our industry spokesperson/insider, but there you have it. Needless to say (or I would have thought it was needless until seeing this tripe), Ryan is not speaking for the huge legion of agents who are reputable and decent, hardworking and honest.

 

The final section of the post is basically a throwaway, which says that maybe we aren't all that bad, but to be careful. Caveat emptor.

 

It's my sincere hope that anyone who stumbles across this nonsense article isn't swayed by it too much. Of course, there are dishonest Realtors out there. There are also Realtors who genuinely care for their clients and the needs of those clients. If you like, I can put you in touch with a few hundred of my own past clients and you can ask them directly about their experience.

 

To sum things up, I am in this business for the money. It's not a hobby for me, or a part-time gig. I feed my family of six from my income selling homes, which enables my wife to stay home and educate and care for our children. I also run a ministry for homeless and needy families, which is sometimes another full-time job (and no, I don't get paid for that). Making money isn't inherenly evil or problematic. I sleep well at night because I don't lie or cheat to make sales. 

 

I am tired of the media trying to pretend that they understand what it's like to be a real estate agent. Part of our gig sometimes spending hours (or days or weeks) with no compensation whatsoever. I tell my own agents that we can do our jobs 100% perfectly, and still not get paid, because there are a lot of moving parts in a transaction, including the mortgage, title company, appraisal, other agents, parents and friends who offer their often-misguided advice, and more. It's a bit of a minefield, but this is the career I chose at age 26. 

 

I could go on, but I probably already sound like a grizzled old man.

 

Thanks for reading! 

 

Image source: Flickr.com via Creative Commons license, from https://www.flickr.com/photos/celestinechua/ 

If you're looking for a home in the Austin area, you can also visit my primary website at www.austintexashomes.com.  Thanks!

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Comments (20)

Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Thanks for re-blogging this post of mine. I don't often feel strongly enough to write a rebuttal when I disagree with someone, but this one was so far off the mark that I couldn't help myself.  :)

Aug 03, 2014 01:06 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

The Motley Fool proved one thing.

Stick to what you know.

Clearly they don't have an understanding of the real estate market.

Aug 03, 2014 01:15 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

I love Jason's post and agree 100% with it.  Bottom line is most people working are working for the money!  Not a bad thing at all, and it certainly doesn't mean you aren't also doing what you are doing because you want to help others!  They can both go hand in hand!

Aug 03, 2014 01:19 AM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Jason - No problem...I felt pretty strongly myself.

Lenn- Glad to see you are back - I hope you have a wonderful summer!

Sharon - You are so right!

Aug 03, 2014 01:26 AM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Thanks for the info on the article and thank you for the response.

 

Aug 03, 2014 01:30 AM
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Debra, well said and this is a GREAT re-blog by Jason!  Perhaps Ms. Alix should do a story on those  stock brokers and stock brokerage firms who get paid regardless if their client makes money or LOSES money!

Aug 03, 2014 01:39 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Debbie: Clearly, Ms. Alix considers herself a savvy investor that needs no one other than herself and does not comprehend the risk she will be taking going into a real estate transaction without the fiduciary relationship and representation that we, as Realtors® are required to convey to our principals. All I can say is 'Caveat Emptor' and once she is 'burned' she might just decide to extend her hate to the entire world. Knowing her attitude, I would refuse to work for her. You're on yer own KID!

Aug 03, 2014 01:49 AM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Bruce...lets not encourage....

Thanks Elite!!

Aug 03, 2014 01:50 AM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Norman thanks for commenting!

Aug 03, 2014 01:51 AM
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Debbie - great reblog.  It's amazing how people allow one bad experience to skew their view of an industry as a whole. Your response is well-stated and speaks volumes. Thank you for sharing!

Aug 03, 2014 06:51 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Debbie, I read Jason's to that article yesterday.  What I left him with I'll repeat here:  Those that know the least seem to know it the loudest!  

Aug 03, 2014 07:35 AM
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

Nick that is a phrase I am going to reuse ! Spot on !  Jason, I missed this earlier thanks for sharing...I think ! This type of human exists to be negative and arrogant. Dont think theres anyone on the planet able to educate someone that knows it all.

Aug 03, 2014 08:08 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Debbie. Great choice for a re-blog. I can certainly understand you comment, added to his post. I don't know how you can lump everyone together, but am not surprised when I see this done.

Make it a great week!

Aug 03, 2014 08:28 PM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi Debbie: I commend Jason for taking his time for this rebuttal as Amanda Alix does not have the authority to evaluate the professionals collectively just because of one bad experience or her ardent following of the reality show.

Aug 03, 2014 11:15 PM
Suzanne De Vita
RISMedia
Online Associate Editor

Debbie, thank you for sharing this. I read Debbie Reynolds' response to this last week and read the article from there. Unfortunately, it doesn't do the industry any favors.

Aug 04, 2014 12:21 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Debbie missed this post and glad to read it here. So glad Jason wrote a rebuttal as I agree.  I've been working one year...yes one year this month on a contract for my sister (who is legally blind). It is a $54,000 house and she is using USDA.  It has been just soooooo slow working with the RUral development.  So, I can definitely say I earn every bit of my commission, which I will be giving to my sister. 

Aug 04, 2014 02:55 AM
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Great reblog!   I caught this when Jason posted it, but glad to have the second read.  I loved following the comments above - thanks!

Aug 06, 2014 10:53 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Generalizing, in any case that I can think of, only leads to falsities...well said!

Aug 08, 2014 12:08 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Debbie

I enjoyed read your re-post . . . .  and the points have a lot to say.

Good luck and success.

Lou Ludwig

Aug 09, 2014 01:03 PM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Thank you to everyone who commented...I read them all and appreciate all who took the time.  Ours is a very tough and time consuming business.  To be lumped in a group as people who don't care and just breeze through collecting checks really burns me and apparently everyone else who really takes the time to do their job well

Aug 13, 2014 05:40 AM