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5 Brutal Truths about Being a Real Estate Pro

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Real Estate Technology with Zurple

Brutal Truths about Being Real Estate Agent

People outside of real estate think that being a real estate agent or real estate broker is a piece of cake and money just flows in. Nothing can be further from the truth.

Let’s uncover and present to the world 5 brutal truths about being a Real Estate Pro:

  1. Being a Real Estate Agent or Broker is expensive

    You need to look polished and professional and you need to have a sound infrastructure in place to keep your business running. It all costs money. Even in lean times, you need to spend money.

  2. Being sick or on vacation still means you’re working

    You continue working even if you are running fever or go on a beach getaway. Your clients expect you to show up for their showings and perform at your best. Not responding or showing up can cost you lost business. See Truth #1.

  3. You and your phone are inseparable

    Wherever you go and whatever you do, you and your mobile phone will always be together. Your phone is your best friend and worst enemy. There will be lots of calls, text messages and emails that you need to address – lots of them right away. If you want to become known for being responsive, you’ll be using your phone 24/7 to the chagrin of your family and friends.

  4. You conduct countless showings

    You have done many, many showings. Some of them were great and a few of them - not so much. There are many things that can go wrong before, during and after a showing: no lockbox, an aggressive and unexpected pet, creepy house vibes, clients that run fashionably late. Or even worse: you’re running late due to back-to-back appointments and heavy traffic.

  5. Some problems can cost lots of money and can’t fixed by apologizing

    There was at least one time in your professional life when you made a mistake that ended up costing you a lot of money. An apology didn’t make the cut and you had to pay up to address the issue. It hurt but was necessary.

Real estate business is not for the weak. Be confident and strong. Stay ahead of your competition. Establish yourself as a hyper-local agent in your area and real estate expert online and off. Be ready for surprises – good and bad. Above all, enjoy what you do or burnout is imminent. 

What other truths have we missed? Share in the comments below.

 Want to hear brutal and inspiring truths from shrewd business people? Check out the 25 page eBook with quotes from Shark Tank stars.

 

Comments (47)
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Geoff Grist
Mosman Neutral Bay Realty, Sydney Australia - Sydney, AU
Author of Sold Above Market book

Great Post and one that should be shared, as many have already said, anytone even thinking of becoming an agent should understand that its not an easy road to riches as so many believe.

Sep 21, 2015 02:19 PM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D

there is no aspect of real estate that is easy in this day and age.....it is anything but an easy industry

Sep 21, 2015 03:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

The "problem" with real estate is that it's any easy business to get into and a very hard one to stay in successfully! And the days of getting a license, affiliating with a good firm, getting some business cards and a desk and phone and making a go of it, are long gone.

Sep 21, 2015 11:10 PM
Irina Jordan
Zurple - San Diego, CA

Dan Derito - the rate of failure for new agents is dramatic: around 75% if not higher. This number is not very morale-boosting. People should give well-deserved respect to seasoned agents.

Sep 22, 2015 12:32 AM
Mark Artesani
Keller Williams Realty - Fountain Valley, CA
Huntington & Newport Beach, Fountain Valley Homes

Irina,

Thank God for back up battery charges. Solar panels are to big to carry around. Thanks for the post.

Sep 22, 2015 12:33 AM
Irina Jordan
Zurple - San Diego, CA

Mark Artesani  - you've made me laugh :).

Sep 22, 2015 12:35 AM
Tammy Adams ~ Realtor / Podcaster
Maricopa Real Estate Co - Maricopa, AZ
A Maricopa Agent who Works, Lives & Loves Maricopa

Great points. I can't tell you how many folks jump in without checking out what it will truly be like. A must read for folks

Sep 22, 2015 03:56 AM
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"
5 of those 5 truths are what I call "self-inflicted". Yes, it is expensive to be "in business" the issue is not many Realtors/Agents think they ARE in business.  If you have a viable business then you should have all these other's covered. Being sick or on vacation DOES NOT have to mean you are working! As a matter of fact going on vacation and staying on the job is very sad.
  You and your phone are inseparable--really? Seriously, you allow your clients to call you 24/7? I was at a KW mega camp event where a panel of 5 Realtors had the topic--"How to sell a 100 homes a year from 9 to 5". Responsive and a "slave" to your phone and clients is a whole different matter.
  You do "Countless showings"--have you sat down and asked your clients what it is they are looking for? Do you ever ask them to buy? We have a KW agent, ala Craig Proctor, who works nothing but buyers. Every buyer works under a buyer broker agreement and he tells his agents, "If I see you in a car with a buyer you are fired!".
  Yes, some mistakes will cost you money--but that's also why we have E&O insurance. 38 years in the business and  paid $5,000 one time to settle a possible law suit.
  I think your post should be renamed: "5 Brutal Mistakes Agents Make"!! 
 
Sep 22, 2015 04:05 AM
Irina Jordan
Zurple - San Diego, CA

Mike Kelly  - spoken like a seasoned pro! You have mastered your work-life balance and how to set proper expectations for your clients. Most of agents struggle with that, esp. the ones who are starting out. This is a disclaimer blog post for those who haven't achieved your level of mastery.

Sep 22, 2015 04:24 AM
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

We're underpaid!  Should we go on strike for sick and vacation pay?

Sep 22, 2015 04:30 AM
Marilyn O'Donoghue
Long & Foster Avalon - Avalon, NJ

Thanks for the post.  It is nice to know I am not alone in this wonderful buisness!

Sep 22, 2015 06:10 AM
Irina Jordan
Zurple - San Diego, CA

Lloyd Binen - you may want to approach the issue in a more peaceful manner :).

Sep 22, 2015 06:11 AM
Irina Jordan
Zurple - San Diego, CA

Marilyn O'Donoghue  - of course, you're not! You're part of this wonderful hard-working professional community whose members share your heartaches and victories.

Sep 22, 2015 06:12 AM
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

I think many of us look around and say to ourselves, "I could NEVER do that!" That's too pushy, so sales talk. Last time I looked, on my license form the greatest state of California it says after "type" --salesperson. When Gary Keller wrote the "Millionaire Real Estate Agent" it wasn't just about KW agents being successful but those who have "mastered" throughout the nation. I'm so far away from true mastery but I'm always "learning based". Yes, I was snarky with my comments Irina--but Geez--it really doesn't have to be that way!

Sep 22, 2015 07:36 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

What you mean we don't just sit by the pool and make millions? Huh...bummer.

Sep 22, 2015 10:51 AM
Anita S. Zahn
Advantage Realty 863-840-1420 - Sebring, FL
Highlands County Real Estate Source! I work 4 U!

We aren't respected as professionals.  Buyers and Sellers think we are waiting for there call and are ready at a drop of a hat to run out the door.  We have no life.  They don't get it when we ask to please call in advance so I know what your looking for and have time to set up appointments for showings or have sometime to gather some information on sales in your area.  They call the doctor, dentist, even make time to set up lunch with friends put will not call ahead for an apppointment.

Sep 23, 2015 01:53 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

And sometimes what you do right does not make any difference.  Being honest can cost you money.  (I still advocate being honest).  And the dishonest sometimes seem to prosper (in the short run).

Sep 23, 2015 02:57 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Irina,

It sure is not easy to do this by yourself. Good to have a supportive office & nice colleagues, who cover for you in a pinch. Of course you have to reciprocate, but it is better for all involved. Everyone needs to recharge their batteries at some point.

Sep 27, 2015 01:48 PM
Ernest Villafranca
Better Homes and Gardens Real Estate - Oakland, CA
3923 Grand Ave. Oakland CA, 510-418-9443

6. You work and don't get paid...because you work on contingency, that is, you only get paid if you actually sell something.

Oct 05, 2015 11:51 PM
Irina Jordan
Zurple - San Diego, CA

Ernest Villafranca  - so true!

Oct 05, 2015 11:52 PM
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