Special offer

Everyone Wants One...A Real Estate License

By
Real Estate Broker/Owner with MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living 272617

Ok Boys and Girls...or Ladies and Gentlemen.....I've entered the Sandbox.....I've got my shovel, a Tonka Dump Truck and I'm ready to play Blogging....so here it goes......... 

I attended a networking function last night. I learned about it on-line, in fact it's called NetParty. I've attended three of them, last night's being the lowest attendance I have seen. (Rain will do amazing things to attendance!) I enjoy networking events for several reasons....meeting new people, learning about other careers/businesses and of course hoping to find that potential Buyer or Seller Client that I can begin to develop a relationship with.

And of course....they are everywhere....Us...real estate agents! At last night's event, I only met one other agent (always makes me happy...more for me!) But then I met this girl. She's in the financial services industry (health, life insurance, etc.) I'm not so sure how serious she is...she drove a long way to the event (I don't attend a networking event that is way outside my area where I work) and her business card was certainly a "home-made" one. She asked me if I had a license (duh....how else would I sell real estate?) and I said yes, I'm a broker. She then proceeded to tell me she wants to get her real estate license, but does not want to sell. She just wants to be able to meet people that want to buy or sell, and REFER them to another agent to do the work...and she can collect a referral fee!  Now, I'm really on the fence with her concept.

True, agents cannot pay a referral fee to anyone who is not a licensed agent. So I understand what she's trying to do. But, here's my problem. She's going to go to school for 60-75 hours, get a real estate license, hang it with a broker that does not charge any fees, and then go around saying she's a real estate agent. But is she? What does she really know about real estate? And what image will that give to those of us that make this our full-time career/business? Hmmmmm....  Here's how I imagine this conversation going....she introduces herself as a real estate agent. The person she is talking to starts to tell her they want to ________(insert buy, sell, rent) a home in such and such a part of town. Maybe she takes notes, maybe she has a good memory. Then, suddenly she says to this person, "Well, I don't actually sell real estate. But I will refer you to someone who does and they can help you." What does that say to this person about our industry/business? Gosh, anyone can have a real estate license, but are they really a REAL agent?

I take what  I do VERY seriously. I pride myself in being ethical, honest, and work for my clients best interests. I work long hours (till I get my business built to the level I want it) and like the rewards of my work when I see a Buyer walk into their new home, or a Seller take the last box to the car as they leave their home.

I'm not saying her idea is right or wrong. It just kinda makes me feel like I now want to say to anyone I meet, "I'm a REAL real estate agent (Or REALTOR in this case.)

Comments (13)

Toby Lorenc
Rocky Mountain Realtors® - Colorado Springs, CO
Make your next move your BEST move
what I don't understand is how people can do this "part-time" ... I don't think I could do it. It's a full time + job.
Aug 25, 2007 03:33 PM
Lori Lincoln And Associates
Top Agent Serving Dighton Taunton, Rehoboth and more! - Taunton, MA
Top Agent Taunton,Dighton Rehoboth &more

Thom,

I wasn't full time in the days of "order taking", but I do know that this shifting market takes skill. I also understand that many in this business are leaving.  Newly licensed agents in this market must have the proper training to be successful, and yes, some just want to get referral fees. I take the leads all day long! Let her give them to you and pay her for them, you have nothing to lose!

 

Aug 25, 2007 03:34 PM
Nora Adkins
Realty Executives - Tucson, AZ
I've met several people who basically do just that.  They refer and sit and collect money.  The difference is the ones I know used to be "real" agents.  I'm not sure, how I feel about the girl in your situation.
Aug 25, 2007 03:41 PM
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker
I think that I'm with Nora.  It's one thing for an agent who is maybe moving towards retirement or just cutting back on the workload to refer more clients than they service, but how do you call yourself a real estate agent when you never help a single person buy/sell/rent/invest?  sounds to me like she's one of those people that think we all make a million bucks and she wants to ride the gravy train without making the roux first
Aug 25, 2007 03:46 PM
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Toby....AMEN....I've been at my computer ALL day working on various projects!

 Lori.....sure I would take a referral from someone...but when it's someone who's really not SELLING real estate, I think it just kinda gives those of us working this full time a bad rap...

Nora: Like Lisa says....if an agent is trying to cut back, or will only work with their own referrals, then it makes sense...hope she has a good daytime job....I'm doing this full-time and still only getting a few referrals from all the networking and sales I have done!

Lisa....I think her gravy train is going to be really thin.....LOL!

Aug 26, 2007 03:07 PM
Julie Neerings~Lifting Hearts ♥ Building Dreams~
Agent Referral - Salt Lake City, UT

Thom-I'll warn you, you'll get me going on this one.  I'm a Mom, a Wife and a Realtor.  All 3 of these titles are taken very seriously by me and I refuse to ever go half way in any of them.  As a Realtor, being very full-time, it takes a lot of commitment, passion, knowledge, drive, extra hours, honesty, integrity, and so much more.  I don't get the part timer attitude.  Most that I have come across in the past year don't even go half way.  They miss deadlines, returning phone calls, signatures, initials, etc.  Bad experiences with 3 just in the past 2 weeks.

1 . Buyer agent with client under contract on one of my listings. Decided to have clients back out of contract due to having a preliminary appraisal done and it not coming in at value.  This isn't an appraisal.  That's where the agent should have run comps on the house and fully disclosed to his clients that the offer they were making was higher than value and if it didn't meet appraisal, then they could back out. He didn't do anything other than send me a release of earnest money agreement, indicating an appraisal was done and it didn't meet appraisal. When I confronted him, he played the "oh I didn't know that game".  Part-timer. 

2. Agent doesn't have time to be an agent.  Will only take listings and refers out buyers.  He gave me a referral and checks on a daily basis to see what is going on.  He seems to no trust my integrity.  He has time to double check me for his referral fee, but not time to service the client.

3. Agent misses deadlines for buyers.  Doesn't call, doesn't fax anything, email.  Works another job full-time, so he's very difficult to get a hold of.  

Sorry to attack your blog this way, but I don't know that it's ok. We're here to service people in the best way possible.  

Aug 27, 2007 03:48 PM
Victoria Small
Keller Williams Realty Chesterfield - Saint Louis, MO
Remember Small is the name...not the SERVICE!
Some of us are in the business to work it and others are in it for the easy buck.
Aug 30, 2007 04:33 PM
Jo-Anne Smith
Oakville, ON

Thom,

She wouldn't be able to do that here in Ontario without getting a written agreement from the client agreeing that the agent who she is giving the referral to can pay her a referral fee of 25 % or whatever. How many people that have just met her are going to agree to that? They'll just go out and get their own agent.

Well, the business clearly still needs a lot of cleaning up...

Jo 

Sep 11, 2007 01:33 PM
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale
Jo...we do referral agreements here as well....I don't really think someone would take someone seriously in this case....I know I would not, but it does not paint a good picture for the rest of us who take our businesses seriously!!!  Thanks!
Sep 11, 2007 03:52 PM
Julie Neerings~Lifting Hearts ♥ Building Dreams~
Agent Referral - Salt Lake City, UT
Thom-I went back and reread your post here.  Boy I took it in such a different way initially.  It must have been all those PT's I was working with at the time. As far as answering the real question you have here, yes people can refer out business all they want. I don't know that it's right or not.  Somebody holding a real estate license, giving people the impression they are practicing real estate, but never actually closing a file?  I would think that should be controlled a bit. 
Sep 12, 2007 01:01 AM
Andrew Haslett
Van Warren Home Inspections, NAHI CRI - Fort Knox, KY
Heartland of Kentuckynulls, Best Home Inspector

OK Thom, we are two years out.

Did she get her license and apply her strategy? Or, did she change her strategy, if she went through all the education?

Jun 07, 2009 03:05 PM
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

I have no idea...I never kept up with her!

Jun 07, 2009 03:13 PM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Thom,

Loved what you said.  "I'm a REAL real estate agent (or REALTOR in this case.)"

Stopped by here since I was interested in reading your first post. 

Have a happy day - 
Lynn

May 27, 2013 07:06 AM