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Realtors and GOLD MINERS?

By
Real Estate Agent with Adventure Realty

The gold miners sometimes struck it rich. Most often they made many others rich. It is well known that in many cases the people who made the money, were not the miners but those who sold them stuff. Such as the Booze, Brothels, stores selling shovels and picks, Levis etc. From the start they paid someone for supplies and transportation to the gold fields. Once there, they paid for the above mentioned supplies and entertainment. In the end many paid most of what they were able to make to vendors, and left broke.

How does that compare to being a Realtor? When we decide to go into Real Estate. We think we will sell Real Estate and get paid a commission. We soon discover that there are many cost involved before we can even begin. The List Below is just a short list of the ways we pay vendors a great deal of our income and who ends up with the money.

Initial Education Costs- Real Estate Schools

Real Estate Department Fees for our license and office- The General Fund

Realtor Association Fees, National, State, Local

MLS Fees- Local Board- MLS providers

Lock Box Fees, yearly and monthly- Vendors

Continuing Education- Real Estate Schools/Instructors (usually rehashed information you learned in initial classes).

Designation's - NRA, Real Estate Instructors and schools

Signs- Sign Shops

Advertising to include, Web Site, Phone Books, Real Estate Magazines, Promotional Items,

Computer Programs- Vendors

Office Space

Phones

Utilities

On top of this very short list of people making money from your efforts are the daily email advertisments, many being the flavor of the day "SHORT SALE TRAINING"  which may or may not give good information. The last one I attended was an infomercial for what they really wanted to sell us, a $500.00 package for some more initials on our card. Or a Webinar promising to increase your production if you buy the product offered in the switch after you took the bait. No doubt there are offers out there having real value, but how many frogs do you kiss before you find one, and how much money will you waste. How about the vendors who offer this great product to your Board for free, but you soon find out you must pay for and upgrade to get the good stuff. Is that not the same things the internet marketers do that make us all cuss, when we are 7 pages deep only to discover once again free is always a lie.

I would love to hear comments on the things the readers have paid for in the past, that in the end did not help their production. How about your "what a waste of time and money" comments. Love to hear about what you think was sold to you that ended up having no redeeming value to your business.

Most people will tell you they really benefited from a short sale class or a certian designation, but who with a Realtors self confidence or should I say ego, is going to admit they have initials on their cards that are good for nothing and they paid good money for them? In 14 years I have never had someone come into my office and ask for an agent with a GRI or any other designation ( I actually did like many of the GRI classes). And yes I have one so I'm still waiting for that flood of people seeking the great GRI guy. I'm beginning to think Raising The Bar is code for somebody has something they want help selling. WE SHOULD KEEP A CLOSE EYE ON WHO"S HOLDING THE BAR, WHO GAVE IT TO THEM AND WHO REALLY BENIFITS YOUR CLIENTS OR THE VENDORS? 

 

 

 

 

Diana Turnbloom
Escrowcoord.com - Martinez, CA
The Leading Expert in TC Services & Education

Hey Joel,

It's always important to get educated, but it's easy for agents to overkill especially when the instructors at the classes are insisting you need $1000 product to make a guaranteed million. My hubby Steve who's a broker and I made a deal years ago after finding unopened software he purchase years ago in his office. "Don't buy it if you won't use it within the next 72 hours"

Great post! "Welcome to My World!"

Jun 25, 2010 11:00 AM
Laurie Mindnich
Centennial, CO

The gold mining analogy puts all of the predatory real estate "incidentals" into perspective. The difference is a person really did need a shovel- not so much, the courses, fees, "lead" generators, web site add-ons that are "must have", etc. etc. ETC! Great analogy/post.

Jun 25, 2010 12:28 PM
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

I came over from the comment you made on somebody's post.  I think what you say is very true.  I have tried to resist these organizations.

Jun 27, 2010 04:50 PM
Anonymous
Joel Lawson

Hi Diana Mike and Lauri

Thanks for the comments. I was away from the computer this weekend but I wanted to thank you for your comments. And Laurie the point about really needing a shovel is a great point.

 

 

Jun 28, 2010 05:34 AM
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