Guest Blog from Matt Gouge - Matt the Mortgage Guy. Thanks for this fun little write up Matt. I hope our audience enjoys.
Thanks again Matt for your guest blog post.
Guest Blog from Matt Gouge - Matt the Mortgage Guy. Thanks for this fun little write up Matt. I hope our audience enjoys.
As a newbie myself (3 years in) I agree the occasional agent is not worth working with but here is MY dilema. While I want to be a full time agent as I love this job I have a wife that cant work due to health issues and 2 children to support so I am forced to have another job, this does not mean I shirk my Realtor duties in the least, I am constantly taking on-line as well as classroom courses to better myself in Real Estate as well as my day job allows me to perform my duties to my clients (researching homes etc via the internet ) so I feel I do not give any less of service that other agents in my office. I only wish I could do Real Estate every minute of the day but until I build up a good business I can not afford to give up guaranteed income and go at it full bore.
I know I will be a great agent and have a great business in the near future I just wish some agents would respect that not everyone can afford to go a month or two without any income to be a FULL TIME agent right out of school.
But this was a great article BTW.
Anna Hatridge
Farmington, MO
Diana Dahlberg
Pleasant Prairie, WI
Congratulations on your accomplishments to date! We all started as "new" at some point and have our own stories to tell about those days. Just keep learning and doing - before you know it, you'll be encouraging a new agent in your role as an experienced one. I don't know if it's possible in your office, but you might want to associate with an agent who can be full time... it could help you both. I've mentored a lot of new agents in my day and it's always turned into a mutual admiration society, not to mention how nice it is to reassure clients that they get two agents for the price of one.
I've helped my family with a number of real estate transactions and so glad it was me! Can't disagree with your scenario but in my case I'm the agent with thousands of transactions under my belt and my family made the right choice! But as a few of you have already said, with the right management/mentorship even a newby can do a fabulous job. To be honest, I've had more "issues" with "experienced" agents than with the newbies who were not too proud to ask questions and take advise. With every transaction we must vet the person we will do business with ... and when it comes to talking with a seller who is debating whether to use me or their family member who "just got their license" and afraid to offend them I respond by saying "This is a Business Decision ... if I don't do a good job, fire me. It's hard to fire a brother, sister, aunt, uncle or niece or nephew." Helps them put things in perspective.
Anna Hatridge
Farmington, MO
ah yes, how many times have we had to deal with the agent who is a relative of the other side!!!
Anna Hatridge
Farmington, MO
A good story. However, what if the brother-in-law had 5 or more years of experience. What say you?
Anna Hatridge
Farmington, MO
iI've just seen both sides. The selling agent of my home in Johnson City, TN was related to the buyers and it was a delightful transaction with everyone living happily ever after. (Thanks to Steven Seeley, Coldwell Banker) The sellng agent of our new home in in Roanoke, VA was my daughter, Carol Reavis of MKB Realtors, and after a very smooth transaction, we're very happy here. She's relatively new and doing great.
The service person who came yesterday has her card so she can list his and find him one, and our granddaughter is moving into her dream house in a couple of weeks, also under the wing of her relative. Using relatives can be great, if you evaluate them as you would any other agent.
Anna Hatridge
Farmington, MO
Margaret Woda
Crofton, MD
Good post. THe bottom line though isn't so much whether the agent is a relative but on whether they knowledgeable and passionate about their chosen profession.
Anna Hatridge
Farmington, MO
A professional is someone who is licensed or approved by a regulatory agency and is paid a fee for his services. Equating a surgeon's skill and service to a Realtors skill and service is incredulous, yet, simply because the brother-in-law does 3 deals a year or less doesn't indicate his lack of knowledge, confidence, competency or ability.
When other agents win an opportunity, regardless if they are related or not, has everything to do with their client's trust and confidence. Most transactions are not complicated and if so, the agents Broker is always there to complete the transaction effectively.
The issue of over priced listings isn't reserved for agents that are related to homeowners, yet, we see it everywhere and offered by full time professional real estate agents too, don't we? So, how do you describe those agents? Are they different from the agents described in your post?
Anna Hatridge
Farmington, MO
Fred Cope
Nashville, TN
Kimo, It appears to me that improperly priced properties do indicate the agent is lacking, but he/she may not necessarily be lacking in years of business. I would suggest, often it is lacking backbone--being pressured to over price the property. We dare not walk from a listing, even when that is exactly what the seller needs to see that we are prepared to do. I'm not talking a couple thousand dollars above, but 5% or more is a bit beyond reality. I've gone along for a couple weeks, as a pre-arranged agreement to let them try, but most lookers form an opinion on the first pass, and have no interest to take a second look. A true lover of the property would probably try running an offer by the seller. A large portion of the "We've got to get $XXX,XXX.xx because we have that much in it", comes from the spineless agent who does not challenge unreasonable and unrealistic calculations; nor help sellers understand that a sale comes through angreement between seller and buyer as to property value. It is not like TAXES, where the government say YOU MUST PAY WHAT WE SAY.
Great post and I agree you need to work with the person with the right skills for the job. When I started in real estate years ago I teamed up with an experienced full time agent and that definitely made a difference in jump starting my career. I think it all comes down to experience, knowledge and agent status (full time or part time). I have represented family a few times with the most recent being my daughter who was a first time home buyer. I felt very comfortable as after living here almost 30 years I know the market and of course I am a full time Realtor.
Anna Hatridge
Farmington, MO
I would have had no business at all the past 2 years (my first as a licensed agent) were it not for my family. Good thing they did not heed this advice! On the flip side, a client who is related may choose to do business with you because they feel they can wield control over you. The obstacle for us, as agents, is the client knows you personally and may have trouble seeing you in your professional role and trusting your expertise.
I have a similar analogy for FISBO's. Would you do your own brain surgery to save a couple dollars?
Anna Hatridge
Farmington, MO
Gene Riemenschneider
Brentwood, CA
Hello Gene. I was thinking of you earlier today. How is the family? Did you make your trip to Illinois?
I agree with Fred Cope when he says: "It takes more than a transaction quantity to make a top producer: it takes character, discipline, attention to detail, and a determination to get the deal done. "
But I completely agree with you. Family relationships are not the reason to hire (or not hire) a real estate agent - or anyone else. Their character, discipline, attention to detail, and determination to get the deal done are good reasons.
Anna Hatridge
Farmington, MO
Fred Cope
Nashville, TN
Thank you Marte. I have seen all shapes, sizes, ages, genders, time on the job, and relationships as listing agents and/or selling agents. In any category mentioned, you could run a 1-10 rating and find them from one end to the other. Like homemade Ice Cream, it is all good IF the one cranking knows how to keep cranking until the mix is frozen, and IF the ingredients are to proper proportions. Experience make such more likely.
Love this post! What a great analogy. Adding up the sales prices of that listing and what they'll be buying, that's a huge $ amount to be passing on to a new agent who happens to be a BIL. Selling homes is a key piece of a person's estate and should be given more scrutiny!
Anna Hatridge
Farmington, MO
Thanks Richie Alan Naggar I've always thought of you as family. :)
Anna Hatridge
Farmington, MO
Richie Alan Naggar
Riverside, CA
I am the one who thanks here....best to you Karen Fiddler, Broker/Owner
Anna Hatridge
Farmington, MO
If the brother-in-law happens to be an excellent full-time and local agent, go for it! Otherwise, NO! Pick someone who is skilled at what they do.
Anna Hatridge
Farmington, MO
As a rule, always go with your family and friends first. Give them first crack at it. If you like them and trust them, do it.
(Local agents also take overprice listings...me included.)
I represent tons of my relatives and have over the past 14 years...
The other flip of the coin- why would someone hire a burn and turn agent that spends thousands a month on advertising and never gets referrals. I have not advertised in over 10 years- word of mouth keeps me busy.
Anna Hatridge
Farmington, MO
I have represented some family members, but not until I was experienced. Most would not use me for their purchase or sale until I could answer all their real estate questions during Thanksgiving dinner. I always told them the truth and sometimes it was simply, "I don't know." This truthfulness has helped me develop a business relationship with them that is separate from our family relationship. Funny thing has happened, now they recommend me to their friends and business partners and always say "she will be honest, so be prepared".
You are exactly right that you should never hire your brother in law as realtor because these guys are tricky and pushy. Never trust your brother in law is a thumb rule.
One my brother in law gave my incorrect home buying house prices and I lost all my money due to him.
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