Realtors - Doctor or a Car Salesman?

Pop-Tart realtor? What an apt phrase.  Having clients come to your office is part of a professional attitude, so is charging a retainer for your services.

Linda Metallo, Re/max Impact, Lockport, Il.

Good points made here in this post today.  I have always thought a "retainer" would be a good thing. Who else do you know professionally speaking DOESN't get a retainer.  We pay for a consultation with a doctor don't we?! If we chose to go to another doctor the first one got his time covered.  We work for free.  It's crazy when you think about it.

Patricia

We need to support each other-- so many agents try to snag people who have a good relationship with a REALTOR(R) already. Let's all blow the whistle and agree that Buyers must go under contract univerally.  If there's no wiggle room for buyers... and we all stand united.... then we all benefit.

We have gone out of our way to give out our information to any and all takers and technology makes it available to them in their cars while they are driving around, therefore we have created the need for us to be pop tart agents on our own. 

There is also good apples and bad apples in every proffession, even with Dr.'s and lawyers.  I've had a doctor or two that ordered every test they could, had way too many office visits just because we had good insurance.  I've also had good car salesman and bad.  If you know a home is priced correctly and it is in good shape (update and maintenance wise) then you better get those callers in it as soon as possible or someone else will.  That first meeting is meant to make a good impression and I can do the qualifying then and there, if they are tire kickers then you can slow the process down.  Most buyers are watching the internet and know what they are looking for ahead of time and they just might have been waiting for that particular neighborhood to produce them a listing.  Like a few of the previous post stated, I'll be writing them an offer while others are scheduling future qualifying meetings. Too many homes priced correctly have multiple offers the first day on the market!

Those are all interesting points that can generate all sorts of discussion  Kaaren

I have worked with companies that charge a retainer and those that don't and see the benefits with both ways. I presently choose to work without charging one.

I don't remember where...and this is a little off-topic...but I once read that people surveyed said they would rather deal with a prostitute than a car salesman.  Just popped in my head when I read your post.

Those are very interesting points to think about it.

It all has to start at the beginning.  I couldn't agree more with Marco when he says, "Until the educational standards are raised significantly and the barrier to licensing increased we will always suffer from this perception."

The licensing requirements in most states are a joke!

I am sorry to say this, but I find a lot of people are in this business because they couldn't succeed at anything else.

Love Pop Tart Realtor...

I see your point about the retainer but I think in practice it would be tough unless there were so few good agents in your area that folks were lining up to work with you. You would have to charge it to everyone (applied toward your fee at closing as Jason said) but if you really want their business and they balk, as soon as you say "OK I'll waive it" you've created an issue for yourself.

I also don't see states requiring more stringent licensing than they do now. Many states get a lot of revenue from the license to practice they issue us and I'm not thinking  toomany states want to cut any revenue sources these days.

Always good to think about how we can elevate our reputations though!

That is a challenge right now is keeping the buyers loyal...they get on the internet and before you know it they have 5 agents working for them...I would love to charge a retainer fee!...Great Blog

Get where I am going with this?  I will say it again, it is time to Raise the Standards in our Industry and make this paradigm shift. 

I agree with you 100%!!!  There are too many realtors who do act like used car salesmen and don't put a value on what a realtor can do.  For me, I know that if a client wants to make a LOT of money I can help them do that - Me, a Realtor - I can help a client create lifelong wealth.  If I don't share that with them, how will they know what to make of me? 

I like to hear about other jobs and what makes people good at what they do.  That is how I select the professionals that I work with.  I definitely deserve the same!

I'm proud to say the realtors I know are doctors. They are painstaking in their approach and truly care about the client's welfare first. If they didn't, I'm not sure I would have them as a part of my network. Thanks for the post!

Damon & Malisa-- You made some very good points. It's very important to pre-qualify your buyers. I like yourself value my time. I personally cannot and will not allow my time to be wasted working with prospective buyers who have no intention of buying a home through me. Nor do I want to waste my time showing homes to someone that does not have the courtesy to tell me they are working with another agent. I know that might seem harsh. However, there are many buyers that will not hesitate to utilize your time with nothing in return if you let them. That does not make a successful business. You cannot pay the bills and provide for your family by just showing homes. I'm sure many of the other professionals above have dealt with these and many other issues. Pre-qualifying buyers will protect you and your time.

It was mentioned in an earlier post that "when Realtors have to go to school for 8 years, then you can compare them to doctors." However, 8 years of schooling does not make a  doctor more professional. Nor does it make a Realtor less of a professional for going to school for 1 to 3 months. The truth is to be a successful Realtor, Doctor, or Businessman it takes committment and hard work. It takes a constant, never ending effort on your part to continually improve yourself and your business services. I believe that a serious, qualified prospective buyer will not pass on an agents services simply because the agent will not grab their keys and run out the door. Infact, buyers will appreciate that you took the time to pre-qualify them to determine what they can afford and what exactly they are looking for in a new home. It will end up saving time and money for both you and your prespective buyer(s).

I have tried pounding this into my agents heads for years.  VERY good point!

Nice debate. How can we support each other as Barb mentioned, if many of us are not able to answer or return the phone call. 

Well education means a lot as Erica points out, but still some well educated do not show that.

Some Realtors are working as Doctors and some will never change. Hopefully the bar could be or stay in the middle.

I think that as the number of agents declines, the percentage of agents that are worth a retainer will rise and the practice will become more prevalent and accepted by the public.

I am all for charging a retainer and even refunding it at closing.  Serious Realtors need to get serious about their business and find proactive ways to work with serious buyers.  But if charging a retainer fee isn't a standard practiced by all agents, then it makes it all too easy for the customer to go to another agent.