Next summer I will celebrate my fiftieth year of continued service as a licensed Texas real estate broker. And in the main, it is how I've earned the major part of my living, and still do, now as a Keller Williams agent in Dallas.
It's interesting how real estate brokerage has allowed itself to be watered down during those years. And like a string on an in-tune piano, it was probably creeping toward flat from the very beginning.
Yard signs, for an example, used to have only the listing agency's name, address and phone number on them; and, of course, that the property was for sale or for lease.
There were no riders telling who the listing agent was or how to get in touch with them.
If you were driving by and were interested in knowing more about the listing, you called the real estate office, That gave the agent who had agreed to take calls the opportunity to pick up a client, but more importantly, it gave a new agent the chance to get both experience and a pay check.
But somehow name riders crept in. They told who listed the property, and they gave someone interested a name to ask for when he or she called the agency's number.
Of course, if the agent wasn't there when the phone rang, it was an unwritten rule that the agent taking calls would, and again, maybe pick up a client and a pay check.
That lasted for a few years, and then lo and behold, the listing agent's phone number got added. which began as the home phone number, but with new technology, worked its way into being the agent's cell number.
Direct calls from the public's inquirers dramatically diminished. New agents manning the office phone and hoping for a productive day, found themselves with few calls, sometimes no calls throughout their phone shift.
A lot of new agents who would have been outstanding, began leaving their new profession because they didn't have the capital or didn't want to take the risk that they could or would survive.
Law suits about representation began to emerge for those agents who were both the listing agent and the selling agent, so the conventional wisdom was that it was best for the listing agent and the selling agent to not be the same person. Dual agency, that practice is called.
So exactly how does a rider giving the name and phone number of the listing agent serve the guy whose hired him or her to sell his home?
Keller Williams, Dallas Premier