Special offer

Why the Delight in Fewer REALTORS®?

By
Real Estate Agent with Dockside Realty VA 0225142975

As the market has become more challenging I am seeing more and more posts dealing with the diminishing number of REALTORS®.  I find it interesting that some of these seem to be grateful, in fact downright delighted, that some REALTORS® have had to leave the field.  Comments often reflect similar sentiments.

Why?

Please do not tell me it is because we are losing the "bad" agents.  Yes, I am sure we are losing some of them.  However, we are also losing others that are as good at the business as you and I believe we are.

Do you really delude yourself into believing that only losers lose?  No, unfortunately it does not work that way.  I have known some agents that have survived much more than this latest bump in the road.  Believe me, not all of them are agents I would want a family member to work with now or ever.

If we had a guarantee that only the ethical and competent agents remained following a shake-up I would do everything I could to create one.  It is not that simple.  Real estate is no different than any other field.  There are some in every field that hang on and on no matter how poorly they do their jobs.  Some are just better at faking it than others.

I have yet to see a study that showed of the REALTORS® that left the business 80% were lousy, worthless agents and only 20% were professional and well thought of by others in the industry.  (I'm using the proverbial 80-20 ratio which appears to be so popular in real estate for illustrative purposes only.)

So what if some people became REALTORS® when the market was hot?  They had a perfect right to do that.  The gates to real estate heaven did not close and only we were allowed to be there.  People have become REALTORS® every single year since this profession has been around.  Every one of us had our motives for becoming agents and that includes our timing as well.

The fact that there are agents that look at someone else's misfortune as good fortune for them should perhaps re-think their motives.  Yes, I understand that when I get a listing that someone else vied for, I have won and they have lost.  Revel in it?  No thanks!  I'm going to have my loses too.  Each and everyone of us does.

What is it that makes some agents appear fearful about competition?  I have never been concerned with the number of agents in my market area.  Sometimes I have been concerned with agents that "work" outside of their areas of expertise because they are chasing the money.  There are agents that take the time to find out as much as they can about another area, others just move blindly ahead.

Real estate is a competitive business.  We should not be in it if we worry about having to go up against others.  It is how we go about it that tells alotabout us.  Wishing to be rid of fellow REALTORS® just to make life a little easier for me is not how I run my real estate business.

If you are gloating at the fact that some very good agents may have to give up real estate because of this economy what does that say about you?

Posted by

 ©Copyright Kate Elim 2015

+++++++++++++++++++++++++++++++++++++++++++++++++++

GET MOVING WITH KATE!

540-226-1964 cell

lakeanna.kate@gmail.com

For easy property searches check out my web sites: katesellslakeanna.com

or

lakeannacountry.com

Comments (51)

Jim Dvorovy
Cutler Real Estate - Canton, OH
REALTOR - Canton Ohio Real Estate

Kate - I agree 100% with the way you feel. I've seen this same type of behavior in other employment sectors, so it is not unique to the real estate industry. I've always been sort of shocked to hear folks openly express those sentiments about others misfortunes.

Feb 23, 2009 10:59 PM
Mark MacKenzie
Phoenix, AZ

Kate,

I am glad you wrote this post, you make some very good points, and I agree with all of them.

The reality is that there are indeed too many agents in the business, it was unsustainable.

The people leaving the business are in most cases, I am sure, good people.

Unfortunately, there are also a lot of good people losing their jobs too.

I don't like to see people losing their jobs but sometimes it is unavoidable.

 

Feb 23, 2009 11:02 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Kathleen - Great post and a good reminder to everyone that is hard out there... really hard.  The economy is very difficult and a lot of people are struggling.  I think the folks that mention this as a benefit just need to remember that.  I would agree that yes, there is less competition for a Realtor to compete with and this is a great opportunity to increase market share, but I agree, gloating is bad karma.  ~ Chris

Feb 23, 2009 11:15 PM
Bud Hunsucker
Better Homes & Gardens MetroBrokers - Atlanta, GA
Bud Hunsucker

It's not the quantity that matters, it's the quality of the agent/broker pool.  Too many people assume that just because the quantity has decreased the overall quality has improved. 

Feb 23, 2009 11:16 PM
Robin Turner
Happy House Real Estate - Cocoa Beach, FL
Robin Turner

"Bad" agents is a strong term. It's more like people who just really need to be doing something else...

Feb 23, 2009 11:17 PM
Susan Mangigian
RE/MAX Preferred - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

Kate, I feel like you do about this.  Good people don't always come out on top, that is just life.  There is an agent in my area who is very successful. Every time she sees me she asks me how my boys are.  Very friendly, smiles all the time.  She knowingly took a buyer that I had already shown a new construction development to, back to the development, acknowledged to the site agent that she realized they had been there with me and would work it out with me.  Went to settlement, got paid and never said a word to me.  I had gotten suspicious that this had happened, although I wasn't sure who the agent was.  The site agent was uncooperative.  I finally stopped in the new construction site after settlement and the assistant was there.  I asked her to look in the file and tell me who sold the home. I was flabbergasted.  I called the agent and told her that I expected 100% of the commission by that Friday, or I would take her to our board of Realtors.  I ended the call with "how much is enough?".  This agent out earned me by probably at least $100,000 ever year.  Top, top agent in the area.  How much is enough.  Sadly, she is still in the business.  Many agents that I really like are not.  I did get paid, and she still smiles at me and asks how my sons are. 

Feb 23, 2009 11:23 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Susan...You gave a very moving example of what I was trying to say.  There are some agents that have survived and survived and I would not trust them for a minute.

For some, mentoring will not do a thing.  They know the right thing to do but continually skirt the line and so they hang in.  They maybe very "successful" in a monetary way but often do not have the respect of fellow agents. 

Thank you for sharing your experience with us. 

By the way, how are your sons?

Kate

Feb 23, 2009 11:35 PM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Kate,  Yes, this is happening in all industries.  And it is just a sign of our economic times.  I had to re-read your post and adjust my comment.  You are right about the fact that we should not worry about the competition.  I just read that in a book recently.   

On another note:  Bravo to you for the comment you left on Richards blog yesterday.  I removed my own because it got ignored in all of the ugliness there and I decided I did not want to be a part of it. 

Feb 24, 2009 12:42 AM
Steve Hoffacker
Steve Hoffacker LLC - West Palm Beach, FL
Certified Aging In Place Specialist-Instructor

Kate,

I don't think any of the really good agents are leaving. If they are that good, they are reinventing themselves. It's the people that just jumped in because it seemed like the thing to do that won't be missed. :)

Steve

Feb 24, 2009 12:48 AM
Everard Korthals
---Preferred Lifestyle Advisors--- - Lancaster, PA
Mountain Realty

The good agents aren't leaving yet, but they are hurting financially as they usually have the most listings to advertise. So cutting back on print advertising seems to be their avenue. There will always be some good and bad realtors coming and going in this industry. It's more important however, to keep an eye on your own goals and to focus on what is best for you and your own real estate practice. Don't be a follower. Steve said it well above, when he mentioned that the good realtors are reinventing themselves as most of them have been through the washer several times in the 90's and perhaps before in 1980. Tax Month will invariably make or break some, but there will always be radio advertisements advising newcomers that now is the time to get into real estate. Those are starting to air in our market already. This coupled with the fact that NAR continues to simplify the process to get in. For those on the brink, hang on if you can't, if not, it's not the end of the world as opportunity always awaits around every corner. Keep hope.

btw: Congratulations on the feature Kathleen. Great article!

Feb 24, 2009 01:16 AM
Ricardo Cobos
SunTrust Mortgage - Raleigh, NC

"Do you really delude yourself into believing that only losers lose?" I hope you meant that as an oxymoron.

Feb 24, 2009 01:23 AM
David Slavin
Keller Williams Premier - Katy, TX
CDPE, ABR, SRES Keller Williams Premier

Every industry goes through growing pains and capitulation.  Right now we (some agents) are capitulating.

Feb 24, 2009 01:35 AM
Kimberly Dotseth
Blend Real Estate, broker/owner - San Diego, CA
Try Our "Cancel Anytime" Listing!

Working in a commission only environment is not for the faint of heart. I don't care whether it's 1991, 1996, 2001, 2004 or 2007-2009.  Those years covered both valleys and peaks in San Diego real estate. The agents I prefer to work with have survived one or more market crisis. The rest? I wish them well in their next career.  This is NOT an easy business. If someone got into it because they thought it was easy money, they should be gone. And I wish they'd take some of the current REO listing brokers with them!  We are having a bad behavior epidemic in San Diego real estate. It's a war zone.  This too shall pass, I suppose. 

Feb 24, 2009 05:20 AM
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Kate,
I agree with you and others here that some very professional and hardworking agents have had to leave the business and it is heartbreaking.  Competition is good in good times and bad.  Your post is very well written and your points well stated.

Feb 24, 2009 05:36 AM
Pat Fenn
Marketing Specialist for CJ Realty Group/Cindy Jones Broker - Springfield, VA

Kate-I agree with you.  Anytime someone does a dance of joy over declining numbers in our business they need to look over their shoulder.  Are they so sure that their brokerage is sound, do they have their pipeline full of buyers, is their bank account full and is their retirement guarenteed?  No one should be happy that anyone in their same profession has failed. 

Feb 24, 2009 01:03 PM
Raine Carraway (Michelle Carraway)
EXP Realty - Lenoir, NC

Kate,

I just wanted to let you know I appreciate this post. I came very close to being one of those who gave up and left, and i guess I still have one foot out the proverbial door. I got into real estate right when the market started hurting bad around here in November of 2007. By last autumn, I was considering getting out of the business, and picked up another full-time job becuase my husband was laid off and we needed health insurance and a more predictable income. My office shut down and I was just going to call it quits then, rather than investing in all new advertising and marketing materials during hard times. Thankfully, I had the opportunity to keep my license active as a referral agent, and I did stay in the business long enough to realize some of the things I need to work harder on next go around. I guess this is a long comment to say encourage those who do have to look elsewhere, but who really enjoy the real estate business, to look for ways to stay involved, and to remind them that it is possible to re-start a career with a better plan and more economical business model and still find sucess. At least, that's what I'm hoping for this time around.

Feb 24, 2009 02:29 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Raine...All I can say is, I would be so proud to work side by side with you.

With the attitude you have and your commitment to make real estate a viable career there is no doubt in my mind that you will succeed.

I encourage you to post your comment but please leave it here too.  (You could call it, The Other Side of the Story.)

It deserves to stand alone as a separate post.  You deliver your message better than I can.

You have no idea how much I appreciate your input.  You are exactly the type of fellow agent that I hate to see us lose and there are others like you.  I've been in the business since 1986, through a number of ups and downs.  I know it is a mix of agents that come and go in good times and bad.

It is so easy to think that when we succeed it is only through our individual efforts.  Hasn't anyone heard of Luck

There are two kinds, good and bad.  Some of us get more of one than the other at different times in our lives.  The fact that your husband lost his job has no bearing on your value as a REALTOR but it certainly did require you to consider the need for a steady income and health insurance.   Many of us might have had to make a similar choice if something like this happened to us when we were not quite as established in our field and had family responsibilities.

Wishing you and your family nothing but good days ahead.

Take care.

Kate

 

Feb 25, 2009 01:06 AM
Paul Slaybaugh
Homesmart - Scottsdale, AZ
Scottsdale, AZ Real Estate

You are a gem, Kate.  I will not feign innocence, I have been somewhat relieved that the competition has been diminished.  For a while, it seemed that every other person I met had a license or was in the process of getting one.  I felt marginalized, not by lack of skills, but lack of new opportunities to ply them.  When the renewals started drying up, I let out a sigh of relief.  I'm not proud of it, but I did.  Like any breadwinner, I welcome the ability to provide for my family in a less crowded room.  That said, it does not diminish the truth of your post.  I know too many good, solid professionals who are amongst the recently departed in our industry.  We all like to pretend that only the bad apples get bounced from the cart, but that bit of self-deceit is far too naive for any of us to really believe.  Unfortunately, there may be fewer total poor excuses for professional agents in our ranks now, but I would wager that the actual ratio of unethical to ethical may be higher than ever.  The cunning ones are survivors, if nothing else.  While many who comport themselves with dignity and integrity have boundaries that they honor, thus being forced out of the business altogether beore bending their standards to scrape by, the unscrupulous have long since mastered the art of self preservation.  Our numbers are down, but only a fool would believe that all of the "right" agents have been purged. I shed no tears for some, but feel genuine empathy for many others.

And yet, I am human.  I welcome the increased opportunities that the current market provides.  Not sure what that says about me, but my boys depend on me.

Feb 25, 2009 03:43 PM
Kelly Sibilsky
Licensed Through Referral Connection, LTD. - Lake Zurich, IL

I, for one, know quite a few agents that were thrilled when I left the business...because, quite simply, I was their competition! The bottom line is that I did not get into the business because I thought it would be easy money, and I did not leave because I couldn't hack it. Of course, you know all that! :)

Mar 01, 2009 11:09 AM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

While many competent agents have indeed left  the business, I believe many MORE unprofessional Realtors have thrown-in the towel.  It is still far too easy for one to obtain a real estate license and consequently there are thousands and thousands of incompetent agents around the country who frankly damage our profession.  We need to lose them while we also tighten licensing requirements.

Mar 04, 2009 06:56 AM