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Realtor

How to Pick a REALTOR

With all the REALTORS running around these days it’s hard for a consumer to decide which one is best….and who all these companies are. Used to be we knew who the major players were in the real estate market:

1. RE/MAX: known for top producing agents that paid a fee for their office space and got 100 percent of their commissions.

2. Coldwell Banker: Good Training for their agents and have a good reputation.

3. Century 21: Good training for their agents and have a good reputation.

4. Sotherby Realtors: every major city had at least one office and the agents in those offices tended to sell the higher priced properties.

Now we have almost 14,000 agents in the San Antonio area attached to companies we’ve never even heard of. And the latest? The new MLM agent….your Realtor might not be just selling real estate…it’s like AVON….the more agents they recruit, the more money they make. Do you want an agent that sells houses or an agent that recruits other agents?

So…how do you pick your real estate agent when their are 14,000 of them and almost as many companies?

Ask these questions:

1. Are you fulltime? Do you work nights and weekends?

I promise you….about 10,000 of these agents aren’t available 100 percent of the time to manage you or your house. When you have an offer come in….do you want to wait until Monday morning to find out about it? In today’s busy market…that buyer may get anxious and have moved on if they wrote the offer on your house on Friday night and had to wait until Monday to find out if the offer was accepted. If you’re the buyer…do you want to wait 3 days to find out if your offer was accepted? If they work at a fulltime job during the week….how can they negotiate the offer that comes in before their shift starts? I’ve met REALTORS that are also UBER drivers….do you think that REALTOR can negotiate while driving to the airport with people in the backseat? And….do you want the people in the backseat knowing about your personal business?

2. How many people are on your team?

If they are on a “team” you get them right now…and then another person takes over for inspections, and then a third person might take over for the closing process…..do you really want to work with someone you don’t know on the most important purchase of your life or the largest sale of your life? Be sure to ask about the transfer process and confirm they are still available 100 percent of the time for ALL your questions.

3. Tell me about your office…..this might be a really great question. If the office just opened up and has 2 people in it or if the office has been in business for 25 years….I can promise you that the office that has been in business for 25 years has probably done a lot of great things to stay in business that long. How does their office operate? An office that recruits for a percentage of stocks might not be the right fit for you if your house sale isn’t as important as the next recruiting session or training of their agents.

4. How long have you been in the business? With 30,000 sales a year in San Antonio and almost 14,000 agents…..the only agents that have been in the business for 10 years or more are agents that sold more than 2 houses a year. Currently 5,000 agents wash out and leave real estate within their first 3 years….and that’s been happening for over a century in San Antonio.

Make sure who you choose to represent you is one of the agents that has been around a while…in an office that has been around a while who job is to sell real estate…..lots of real estate!

The odds are in your favor for a favorable closing when you stack the odds in YOUR favor!

Wanna be a Realtor?

A few times a week I get told from someone new that they want to be a Realtor.

I hear:

“I want to have free time with my kids”

I think I can make a whole bunch of money part time”

“I love looking at new houses”

“I love watching Property Brothers”

I’ve always been great in sales”

So…if you really think you want to be a Realtor….let me tell you a few things to help you with your decision.

Free Time?  You work when someone calls you.  That could mean Monday through Friday from 8 to 5….AND Saturday and Sunday….AND nights and weekends.  Because you have to be available when your prospective buyer or seller is available.  If you aren’t available, someone else is.  If you list a house…..when you get an offer (you are going to sell the house, right?) you have to respond immediately.  If the buyer has to wait until you are back in town from the beach they may change their mind and move on to the next house.  If you have a buyer….the minute you get on a plane is when the new house that is perfect for them pops up on their iphone…..and if they don’t go look immediately, it’s already gone when you return.  So plan on being available from about 8 in the morning until 9 at night….I have been known to work as late as midnight negotiating offers.  It’s a fact.  And if you have another job….I hope they don’t mind if you are missing for several hours in the middle of your shift.  We work 7 days a week…..nights and weekends and holidays (or should I say especially holidays).  It’s NOT a part time job.

Money:  Half of the Realtors make zero.  That’s a fact and a national statistic.  The agents that net over $40,000 spend over $40,000 to make it.  If you don’t have a bankroll to start your business you probably aren’t going to make it.   Every 3 years thousands of Realtors don’t renew their licenses.  San Antonio has almost 15,000 agents….and last year approximately 30,000 homes were sold.  Half the agents  didn’t even sell ONE house.  Plan on spending money your first year and maybe…not making a profit.  95% of all the real estate sold is sold by 5% of the Realtors.

Property Brothers:  being a Realtor is NOTHING like the shows on TV.  We have to be computer literate (actually it’s better if you are a computer guru), good salespeople, friendly, good listeners, maids (I swept the floors in one of my vacant houses yesterday…..the seller doesn’t live here so SOMEONE has to), home stagers (more money to buy things you move from house to house and store when you sell the house), furniture movers (remember you stage houses….those of you with weak backs?  Forget it), photographers (and own a $3,500 camera or pay someone $300 to $400 every time you list a house to take photos you hope you love and you hope the seller loves because if the photographer has to come back its more money), familiar with home repairs so you can negotiate money or repairs when the home inspector gives a list to the buyer, know a lot of good contractors, have a nice car (preferably a luxury car) with a big trunk for your signs and plenty of room to take smaller items to and from houses and own a truck so you can move your staging items from house to house, be VERY familiar with neighborhoods, have additional insurance on your car for your errors and omissions insurance (in case you get sued….but then add another $5,000 for the deductible if you do get sued), buy your own health insurance at a ridiculous price since you are self employed (mine costs almost $1200 a month and it is basically catastrophic insurance as it doesn’t cover much and has a $15,000 deductible),  buy lots of candles and plug ins for empty houses so they smell good when they get shown,  have no retirement benefits unless you save the money yourself,  have no vacation days off and also be VERY careful when you buy your own investment properties as the seller may have seller’s remorse later and decide you took advantage of him or her and should have paid them more.   Opening houses is just a small part of what a Realtor does.

These are the things most people won’t tell you about….but the more you know about a prospective job the greater chance you have of being successful at it.

If you’ve read all the above and still are interested give me a call.  I might want you on my team!

 

 

 

 

 

 

 

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