I Really Don't Want To Waste Your Time...

Real Estate Agent with Associate Broker, Momentum Realty
It is time to start looking for that new house. You have a Realtor picked out, but they are really good at what they do and you don't want to waste their time while you try to figure out what you want. You think you will use someone less experienced to help you look around.

Chris Ann Cleland wrote a blog about this last week, You Aren't Saving Your Buyer's Agent Anything By Calling the Listing Agent Directly . I re-blogged it because I think there is a big misconception about how our industry works, but a conversation I had with another Realtor friend this morning made me think it was worth addressing again with a slightly different angle.

My Realtor friend's sister called her yesterday. The sister is currently renting a property carand has a 2 year lease that continues for another 14 months.  She is hoping to buy at the end of her lease period and called to let her sister know this. She also let her know that because my friend, a professional Realtor, mind you, is so busy, she would look around for the next 14 months or so with a friend who just got their license. Not cool! Let me explain why...

Realtors are 1099 employees. We don't receive a salary. We are not reimbursed for expenses, including gas. Every expense we incur, with rare exceptions, is paid out-of-pocket with the hopes of future earnings. Yes, sometimes we waste significant time and resources on people who don't buy from us, for whatever reason.  We take on new clients in good faith.  A client who uses us to look at property and then writes a contract with someone else is treating us unfairly. In the end, we receive nothing for the time we have spent and have to claim our expenses on our taxes against earned income.

Unfortunately, I don't think the public really understands how we work and how we earn our income.  I know that if they understood, they would make sure to call the right person at the right time for help.

If you are considering the purchase of a new home, select your Realtor and then ask them for help. As Chris Ann said in her blog, we like to earn our commissions!
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 Momentum Realty

A GREAT Real Estate  experience.

If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

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Merv Edinger & Associates
Remax Nova - Halifax, NS

Great blog!

Feb 22, 2012 11:55 PM #1
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Holly....this can not be said often enough because you are right, the public does not understand how we get paid.

Feb 23, 2012 12:33 AM #2
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Good point - I hope your friend set her sister straight! But I have to ask - how can clients NOT know how we get paid? It's part of my listing presentation and it's part of my conversation with buyers.

Feb 23, 2012 12:56 AM #3
Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

Thanks for your comments. I think people only listen to what pertains to them at that exact moment. There will be people who read this blog and then completely forget how we get paid...unless it directly impacts the, it is just extraneous information.

Yes, my friend set her sister straight. As she said, the new agent doesn't need experience opening lockboxes and driving from house to house, they need experience writing contracts!

Feb 23, 2012 01:07 AM #4
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

This post should be required reading for anyone considering buying a home. The public, for the most part, is unaware of how we actually EARN our living.

Feb 23, 2012 01:35 AM #5
MaryKay Shumway
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

I agree with Craig--this SHOULD be required reading.  Great post!

Feb 23, 2012 04:21 AM #6
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

We can be our own worst enemy though, when we steal each others clients, down play the role the realtor they were working with. I had a call last night and the guy said he was working with an agent but wanted to know if I could run over and show him the home since his agent was out of town.

I know agents would have jumped at the chance in the name of oweing it to their sellers and or worse would not have taken the time to explain how  we work. I did and told him how his agent gets worked and ask him how he would feel after working six weeks and being told he wouldn't get paid for the worked he had done.

Feb 23, 2012 08:43 PM #7
Susan Mangigian
RE/MAX Preferred, West Chester, PA, RS152252A - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

This is an excellent post.  I'm sure most people do not know how we work.  Thanks for the great comments on two of my posts.  Enjoy our weekend!

Feb 25, 2012 02:22 AM #8
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Love, Love, Love this.  Suggested.  And, since you dug deeper, I am subscribing so I can dig deeper, too.  So far, I love what I have seen.  Thanks. Holly.

Feb 25, 2012 11:04 AM #9
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A Great Real Estate Experience
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