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It's a Small Business. How Small?

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Education & Training with Advanced Realty Education HomeSmart Realty

I wonder how many agents would have ventured into real estate had we known all the things they didn't tell us before our  pre-license  classes?

One area I wish was stressed a lot more than it is, would be, "This is a small business."  The lesson would include all the expenses, time management, customer service, continuing education etc. that is necessary to insure success.

It seems that even the basics have been left out.  Those would include returning phone calls promptly.  The NAR has determined that communication is the number 1 complaint of clients about their agents.  This made perfect sense after hearing, once again, the following story.

A fellow agent friend and I were out previewing houses.  We came across a listing that was not in the mls and decided to call the listing agent to get information on the property.  We noticed one of those cheap, non-mls lock boxes on the front door as we stopped in front of the property.  When the phone went to voice mail he just hung up his phone and waived his hand in disgust.  Then he related how over the weekend he wanted to see a property that was in the mls and the listing agent requested a call or text in order to receive the (non mls) lock box code.  He jumped through those hoops and had yet to receive a call back on Monday afternoon.

As a real estate coach, trainer and mentor, I want my agents to understand this is a business. You and your business appear to be very small when the listing says call or text for lock box code and then you do not get back to those who do until 2 days later with the excuse that you were out with the scouts on a jamboree. 

Kudos for community involvement but I wonder how pleased your client is when their property had no showings??? 

Too cheap for an MLS lockbox that does so many wonderful things in the way of security for your clients property, tracking showings to determine marketing efforts and allow good follow up.  This is also a poor reflection on your business.

As a real estate agent looking to compete with a plethora of agents, I would encourage the public that before you list your most expensive investment with any agent, make a call on one of their current listings to see how timely a response they provide to agents that are trying to assist you in cashing out your investment.  I would also ask what type of lock box they will be using to insure you, your loved ones and investment are as safe as possible.

Professionalism means service to clients first.  Success will be evident when professionalism is in place.

Here's to your success.

Show All Comments Sort:
Allan Sanchez
Roseville CA & Rocklin CA Short Sale Agent - Roseville, CA
Rocklin & Roseville, Short Sale Agent

Professionalism is key!  CA licensing classes have ramped up a bit the last few years to include Real Estate Practice.  In addition, our MLS requires a Supra Lockbox on ALL listings!

Nov 02, 2010 04:11 AM
Lori Bowers
La Quinta, CA
The Lori Bowers Group

I feel the quality and professionalism of agents has really improved over the past 5 years and continues to improve

Nov 02, 2010 04:14 AM
Andrzej Niemyjski
Realty One Group - Sun City West, AZ

calling or texting for code is the worst.  One time when I called I was told that he cannot provide the code over a phone because he couldn't validate who I was because he wasn't next to his computer.

Nov 02, 2010 04:17 AM
Carol Letcher
Desert Properties Realty - Chandler, AZ
Owner/Broker

Hercel, you couldn't have said it any better..I too have been in this business for almost 20 years, most of it with Re/Max in your area  as well...do we just have more than our share of non professional agents? I run into the same problems with communication, lockbox issues, returning phone calls, ec...Aren't we supposed to try to increase the public's perception of us?  I still see REO's listings that are Fannie and Freddie with combo lockboxes..UGH!!!H!H!HH!

Nov 02, 2010 04:18 AM
Zorik Dadoyan
Keller Williams Realty - Sherman Oaks, CA
Residential and Commercial Real Estate

Hearing this story makes my stomach cringe!

Here's one that I never forget. 1st of all it is a business and you need to treat it like you would treat a retail store you opened acrossed the street. Be professional, show up on time, market for it etc.

#2 (my favroite) - If you had $20,000 what business can you startup?? 

Liquor store? Gas station? Mini Mart? Eatery? Ice Cream Shop? Tatoo Parlor? Hair Salon?

The Answer is NONE OF THE ABOVE!!!

Take $20,000 and put it into your real estate business, treat it like a business, and see what can happen in 12 months. You will change your life.

 

My friends and colleagues, do not take for granted how wonderful our business can be once treated like a real business.

 

To all REALTORS, Have a great day!

 

Zorik Dadoyan
www.housesinsfv.com

 

Ice Cream Shop. What are they doing that you're not?

Nov 02, 2010 04:37 AM
Hercel Spears
Advanced Realty Education HomeSmart Realty - Tempe, AZ

Allan, the newer lockboxes are the only way to go.  Thanks for the comment.

Lori, I am glad you are seeing an improvement.  What do you suppose has brought this improvement?

 Andrzei, I guess if you are going to skimp in one area you will likely skimp in another and the ones that suffer the most are his clients.

Carol, I am hoping this will be changing in our area.  If we can make the public aware of the difference in professional verses non-porfessional, maybe the weeding out process will begin.

Zorik,  It is a great business but as you so aptly point out, investing in it is KEY.

Nov 03, 2010 05:33 AM
Cara Marcelle Mancuso
Golden Girls with SW Desert Homes - Tucson, AZ
Call a Marana neighbor, I'm THERE!

I have a plethora of stories regarding the unavailability of  lock boxes and key codes and gate codes - I often feel that some of the REO listing agents in particular,  have too many on their plate to professionally handle.  I also learned from a new client this past week that as prospective buyers, they have called and received the codes from sellers' agents to enter the homes on their own! Hmmmm, isn't there a law somewhere?  When I signed them up as my new clients, I told them that under no circumstances would I ever let them have a code.  It was my job to open up that door for them, and as a seller's agent, I wouldn't allow a home code to be released, be it REO, short-sale, or client-owned, and open up that kind of potential for disaster.

Nov 04, 2010 03:41 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Hercel, Sad that many agents don't treat it as a business. Not returning phone calls and not including the correct info on MLS is what annoys us the most. The lockbox situation doesn't bother us as much. As least we know we can get into to see the property and not wait for unconcerned agents to accompany.

Nov 04, 2010 03:57 AM