Show Them the Money!

By
Real Estate Agent with Coldwell Banker Burnet

Well, its the end of the year and all those Broker, MLS and NAR fees are filling up my email account.  It's my first year in real estate and I knew to expect some expenses, but wow, my credit card is taking a hit, especially during this time a year.


I must admit that most of my blogs are about local events, current market trends and I try to always through in some useful tips, so this is a first for me...I'm finally speaking freely!!! 

Many say that your first year you either sink or swim...I was born a Floater!!! neither sinking or swimming at this point (it's only been 4 months).

I'm really trying to stay positive at this point, but I will admit its kind of hard sometimes.  I don't want money to be an issue, but thats kind of hard, especially when there are a lot of holiday parties coming up around the corner. 

 

Thanks for listening...

If you feel my pain, please speak freely!

If you got any advice or words of encouragement please share! 

 

tyghre.com

 

 

Comments (16)

Melissa Wagner
Leo Parker Real Estate & Auction - Woodbury, TN
Tyghre- I feel your pain!! I am in my 6th month and thank goodness I have some closings scheduled or I would be like a floater being tugged on, trying not to drown... Up until this month, I had been working my butt off wondering if I would ever get to the point where I didn't feel like I was working not only for free, but paying for the priviledge of working in this wonderful industry for no pay. :) The fees are hefty, aren't they?
Dec 05, 2007 10:46 AM
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

All of us feel your pain, the mls fees are higher than ever, yet less is done.  The fees that are now charged for continuing education, well, they used to be included in our membership.  The newspapers have raised their ad fees. I think these folks haven't reconciled their budgets for the changed market.  It can be overwhelming and, so true, at this time of year.  Be sure you have paid the IRS.  That is one bill you never want to forget. Oh, and let us not forget about the price of gas!

Dec 05, 2007 11:14 AM
Dan Gobis
Re/Max Newport Realty Corp. - Racine, WI

Tyghre, With the challenge most Markets, and agents, are facing in 2008, experienced agents are looking at 2008 goal-setting and business projections like never before. 

Whether you have 30 days or 30 years in the business, you are aware your livelihood has a new challenge, again.

If I was relatively new in the business, and knew I truly brought something to the table, I would find the top 10 agents in my market, and offer to work for one of them, starting with #1 of course, either as a Buyer Agent, Marketing Agent for Buyers and Listings, Personal Assistant, or any other capacity they may need. Compensation/Commission based on results, a small hourly wage would probably be nice for gas and lunch.

You will more than likely be required to sign a 1 year (or more) contract or non-compete clause. If the terms are right, it could be well worth it.

Just a thought.

 

Dec 05, 2007 11:20 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County
I am there too! In my 5th year and this market is making it a challenge...hang in there!
Dec 05, 2007 11:26 AM
Colleen Fischesser Northwest Property Shop
RE/MAX Advantage | Managing Broker - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

Tyghre,

Colleen FischesserAs a self-employed business person, this is likely something you will struggle with for many years to come. Even when the money is flowing and you know it's just a business expense and goes with the territory, there will always be slower, "drier" times. I know where you're coming from and can only say hang in there, it will get easier.

Colleen "Fish"

www.ColleenFish.com       www.MapleValleyRealEstate.com

Serving Seattle/South King County for 18 years

Dec 05, 2007 11:39 AM
Jennifer Esposito
JenRan Realty, LLC - Woodstock, CT
In the long run, surviving the tough times will strengthen you as an agent.  So many people thought they could 'get rich quick' at the peak of the hot market they got their license and didn't last...You will learn much from the difficult times, just make sure to always save for a rainy day.  
Dec 05, 2007 11:44 AM
Gayle Balaban
The Best Spot Realty/Waterfront Real Estate/Ooltewah Real E - Chattanooga, TN
E. TN Waterfront Real Estate
I am an experienced Broker and I too am not used to scrambling to survive.  I also am battling a health crisis so that adds more stress and less time.  If you can hang in for at least two years and fell successful, you will make it long term.
Dec 05, 2007 11:48 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Been there.  Hang in there.  Things get better and easier and you will start making money and not have to be concerned with whether or not you have enough to pay dues.  It takes time but you will get there.
Dec 05, 2007 11:50 AM
Joe Spake
InCity Realty - Memphis, TN
Midtown, Downtown, East Memphis Specialist
Tyghre, They told me when I started 11 years ago it would be feast or famine.  The feasts have been good and the famines have always made me stronger and a better agent.  Like so many other things in life, its about attitude!  Make some goals for yourself and stick with them.  It looks like 2008 may start kind of slow, but remember the market may be slow, but there IS a MARKET.  Go out and get your piece of it.
Dec 05, 2007 01:31 PM
Brian Hoots
Real Living Speckman Realty, Inc. - Bourbonnais, IL
Tyghre, hang in there, I am new to real estate also, but hopefully you will be swimming soon.  You're website looks great, it has a simple and clean look but full of info. 
Dec 05, 2007 01:34 PM
BILL CHERRY
Bill Cherry, Realtor - Dallas, TX
Broker & Wealth Coach

I'm not the least bit happy about the costs of association and MLS memberships.  They have gotten totally out of hand, especially when they are continually dinging members for more money.  It is outrageous that continuing education has become an add on.

In reality, if the MLS were to go it on its own, I believe associations would collapse and go out of business by the bucketsfull.

 

Dec 05, 2007 02:02 PM
Frank Jewett
tech4REpros - San Jose, CA

Take it out in trade.  Too many agents pay the fees and ignore the services.  Take advantage of NAR's affinity programs to save money on computers, rental cars, office equipment, and insurance.  Make NAR send Lowe's coupons (do they have Lowe's up your way?) to all your clients just in time for your spring series of "spruce up for spring" home improvement blog posts.  You can probably recoup the cost of your statewide dues by taking advantage of the MN REALTORS® Technology Helpline instead of calling Geek Squad (do they have Geeks up your way?).

Thanks!

Frank

Dec 05, 2007 07:34 PM
Tyghre Collentine
Coldwell Banker Burnet - Minneapolis, MN
I love to hear that many of you feel the same way.  And thanks Frank, I really do try to take advantage of NAR'S program.
Dec 06, 2007 08:28 AM
Dale Campbell
Virginia Real Estate - Mechanicsville, VA
Tyghre - I do feel your pain, but hang in there.  It is but a cost of business, and you will have no problem making much, much more than that in the long run.
Dec 07, 2007 08:10 AM
Danielle Lussier
Shorewest - Milwaukee, WI

Tyghre:

I definately know how you feel, I paid my fees trying to avoid the additional fees that are tacked on each month. I know that when I finish my business plan for next year I will be very disappointed on how much I've spent in advertising and fees this year-Gosh I hope I break even! I've been told that this market will weed out the agetns and only the strong will survive. KEEP TREDDING WATER! It will get better!

 Danielle

Dec 11, 2007 08:39 AM
Gayle Balaban
The Best Spot Realty/Waterfront Real Estate/Ooltewah Real E - Chattanooga, TN
E. TN Waterfront Real Estate
You are experiencing what is the hardest obstacle to overcome for new agents.  They all seem to come due at the same time too.
Jan 09, 2008 11:04 AM