Ken's Pet Peeve

Part time real estate associates, or Ken's pet peeve

 

I read a statistic the other day that said one out of every eighty five (85) people have a real estate license. That's not quite accurate but real estate associates are on the rise. Throughout the U.S., the number of real-estate agents is on the rise. The National Association of Realtors (NAR) reported membership has climbed 44 percent since 2003, from 876,195 to 1.26 million now. Many of these "professionals" are part time novices, who view our industry as a way to make some extra cash. No other profession, with so much at stake, allows part time people to ply their trade. Can you imagine having heart surgery performed by a part time heart surgeon? Would you hire a part time plastic surgeon? Would you hire a part time attorney even if he was a brother-in-law? Are you aware that many attorneys hire full time real estate associates to represent them in procuring and selling real estate. I represent several attorneys who buy and sell real estate. I list homes for REO companies, and represent buyers sent to me by human resource directors. Attorneys, Banks, REO companies and Human Resource Directors of large companies do not seek out or hire part time real estate practitioners. Why should you? Nevertheless, countless home buyers and sellers are represented in the marketing, negotiations, and closing process, by part time real estate novices who are the friends, relatives and neighbors of the home buyers and sellers. Buyers and Sellers who out of a misplaced sense of loyalty, have entrusted the marketing and sale of one of their most valuable assets to a part time real estate associate. When hiring a part time associate it is wise to insist that an experienced associate be involved as well. Many large companies have mentoring programs designed not only to educate the novices but to diminish the legal liability these novices create by their inexperience. You do not want to play Russian Roulette with your hard earned dollars. In Oklahoma a home seller can be held liable for the statements their associate makes if the Brokerage's representation of the Seller is a single party representation. I recently was on the opposite side of a transaction with a part time real estate associate whose primary job prohibited them from presenting the offer until they were off work. They could not attend inspections for their client and all communication was delayed as we worked around the part timers schedule. The Seller was frustrated and the Buyer was frustrated. I was frustrated. Part time associates add stress to every level of the home buying and selling process. Inexperience can be costly in many ways: Misjudging the market might mean you will sell your home below the market or if priced above the market an increased market time will decrease your equity as additional house payments accrue. Full time real estate professionals will: 1. provide a less stressful enviorment in a potentially stressful process. 2. will maximize your dollars 3. will minimize your exposure to potential legal liabilities. When hiring a real estate professional insist on a resume. Experienced seasoned agents typically have a number of designations after their name on their business card. These assosiates have taken the time to further their education within their profession. Ask how long the associates has been in business and how many transactions they do each year. You do not want an associate with 20 years in the business with one sale per year. Before you decide to buy or sell your home give me a call. Let me show you the value of my years of experience! I am a knowledgeable dedicated full time real estate professional. Real Estate is my only business. I have advanced real estate education and am well versed in all facets of real estate. KenSellshomes@aol.com KenSellsHomes Certified Residential Specialist (CRS) Graduate Realtor Institute (GRI)