Extreme Markets Produce Extreme Reactions

By
Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

Arizona just passed 90,000 real estate licensees.  It's almost as if new Arizona residents are getting a real estate license at the same time they get their new drivers license!  

 

But seriously, the real estate schools are filled with new agents and so is the marketplace.  With the sheer number of contracts being produced, being busy is an understatement. 

 

Some of the biggest complaints from agents include non-responses to offers.  It's critical to respond to every offer with a rejection of some sort.   

 

Take the time to formally present every offer to a home seller and formally reject any offer that is not accepted.  If someone files a complaint, that's the first thing your broker is expected to produce - a signed rejection.  The Department of Real Estate requires it!

 

Maintaining ethical business practices is more important than ever with the high expectations that exist in the current marketplace. So be diligent when working with buyers and sellers in the real estate transaction! 

 

 

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Comments (11)

Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Jan- this is a good reminder for all agents. Even with the kind of market that most of the country is experiencing now, that's not an excuse to forget good professional practices. 

Aug 11, 2021 05:36 PM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Jan I taught a contract law class recently and many of the newer agents wanted to stay about 30 minutes after the class officially ended to learn more on how to handle this hot market.  It was so good to see they want to learn and figure it out.  New agents are going to have a tough time competing in this market unless they have a top notch mentor or broker (s).

Aug 11, 2021 06:33 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Jan! It would be nice if real estate licenses were were challenging to achieve. I believe my state just increased education by 30 hours and still it should be more (judging from what I see)

Aug 12, 2021 12:06 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Jan - like life itself, any trend in real estate, is constantly changing.  And when it changes, there is some kind of twist makes it both somewhat familiar but unique as well.  

Aug 12, 2021 04:02 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Jan,
Unless the training and mentorship trend changes for new agents it's going to be a tough time for newbies to become successful. They'll find out it's more than having fun looking at houses.  🤪

Aug 12, 2021 05:57 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

So true Kathy Streib  and we need to encourage that attitude as experienced agents!

And with the now 90,000+ licensees in AZ and full classrooms, it's a learning curve for a lot of agents.  Good for you for teaching Anna Banana Kruchten CRS, CRB, Phoenix Broker !  They are lucky to have you as an instructor!

Very true Rocky Dickerson !  There should be more scenarios and ethics taught to new agents so they know how best to handle situations in contracts !

Indeed Michael Jacobs !  Have you ever taught real estate?

 

Aug 12, 2021 11:09 AM
Michael Jacobs

I have taught some classes but not real estate.  

Aug 12, 2021 11:53 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Carol Williams spot on!  I think every office should have mentors to help new agents in contract writing, etc.  I know our office has mentors!

Aug 12, 2021 11:11 AM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

I believe the requirements should be a bit more stringent in becoming a Realtor.  Many above feel the same.  Not because I already have a license but more because I feel the public should be better represented that what is many times seen.  Unfortunately that same experience can be delivered by seasoned agents as well.  Make it a great weekend ahead and keep your clients safe.  Mark

Aug 12, 2021 06:04 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We are having a tough time keeping up with all the new names of agents we are seeing this year. So interesting to me...and yes, many are very green. I've been working with a co-op agent who is very new, but she is very honest about her lack of experience. With that said, I've been doing some of her due diligence because she doesn't know how. For example, she didn't know the importance of checking well reports and septic records for rural properties. Are her buyers getting the best respresentation? I honestly don't think so. 

Aug 14, 2021 07:07 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

You're right Mark Don McInnes, Sandpoint !  It would be great if more time were spent on real list transactions in school.   For something to be remembered it must be repeated, a bunch, for it to be saved in memory!

Aug 14, 2021 10:33 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

That's always scarey Debb Janes EcoBroker and Bernie Stea JD .  There's so much to know that I think it would be wise for it to be a requirement that a new agent must team up with a mentor at whichever company they choose.  Whether they split commissions between both, or whatever it takes for an agent to be trained.  Thank you for commenting!

Aug 14, 2021 10:35 AM