What you THINK you know about REALTORS

There is no question that REALTORS get a "bad rap."  As in every profession, those who behave badly are remembered and those who do not ride quietly onto the next transaction. I do think however, that there are some misconceptions about REALTORs that I would like to address.

  1. We are all rich.  Like the rest of you, we are just trying to earn a living.  Unlike (most of) the rest of you, our pay is 100% commission.  We don't receive a salary, we don't get bonuses, and to top it all off, we pay ALL of our own expenses and taxes (nothing withheld, stroke a check).  If we have a nice car, we have to pay for it. If we have a nice office, we  pay for it.  If we take you to lunch, we pay for it. If you spend a week looking for a house and then buy it from someone else, we have just spent one week of time UNPAID, but with expenses, trying to find you a home.  We also missed out on working with another client or doing marketing for future clients.
  2. REALTORs are people who cannot do anything else. Most successful REALTORS spend a significant amount of time on education.  We come from all types of backgrounds.  Many of us are former corporate-types who just want to do something different.  Despite what you might think, many of us have a PASSION for Real Estate. Believe me, there are easier ways to earn a living!
  3. It is easy work. This is almost a universal belief, and one that is completely untrue!  I have not had a vacation in several years where I did not work a good bit of the time.  Consumers who want to "sell it themselves,"  are often disdainful of the work that we do. I encourage them to try it...it takes a lot of time, effort, research, paperwork and organziation.  If it was so easy, why would anyone pay me?
  4. We are all 'hustlers.' I can't tell you how many people back away when I tell them I am a REALTOR.  What do you think I am going to do?  Put the hard sell on you to buy or sell a house?  FYI, our role is really more as a facilitator than salesperson; no one can be talked into buying or selling a house unless they are ready to.  When I need to work hard on your behalf, you will see me 'hustle.'  I 'hustle' to keep my marketing consistent and timely.  Another way of saying this is that I am a hard worker.
  5. Commissions are too high...we are all greedy. Each Firm sets it's commission rate.  Different Firms give different degrees of flexibility to agents to negotiate this rate. One thing holds true for every agent and every firm; part of every commission goes to the Firm.  The amount that goes to the firm varies from agent to agent, but rarely/never does an agent receive all of the commission.  Further, they must pay all of their own expenses, licensing fees, education, office fees and supplies out of the remainder.  So after they pay their broker, their expenses and their taxes, the balance is their take home pay.  It is not nearly as lucrative as it sounds!

I will concede that there are reasons for these sterotypes, but I would contend that you will find incompetence in every profession.  For the most part, I have found that REALTORs are a professional group of individuals who care deeply for their communities and the standard of living of their clients.  I have had the pleasure of working with many agents for whom I have admiration and respect for their approach to business. Each of us does it for a different reason, but I think you will find that most REALTORs take great pride in the level of service they provide.

 

 

 

If you like what you've read, please consider subscribing to my blog by clicking on the Orange RSS button and following the instructions. Thanks!

 Momentum Realty

A GREAT Real Estate  experience.

If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

 

 

Save

Comment balloon 1 commentHolly Weatherwax • August 26 2007 01:01PM
What you THINK you know about REALTORS
share
There is no question that REALTORS get a "bad rap. " As in every profession, those who behave badly are remembered and those who do not ride quietly onto the next transaction. I do think however, that there are some misconceptions about… more
A "Buyer's" Market…
share
I am working with a client in Northern Virginia who has recently moved here from out of state. She is in a great position to buy, but has a very specific idea of the type of home she would like, the area in which she would like to live, and the… more
Getting Your House Ready to Sell Series: Home Maintenance is Key!
share
There is little doubt that we are in a tricky market if you are a seller. In a market where buyers are calling the shots, it is critical that your home be in top-notch condition BEFORE it is listed. I used to have sellers who would say to me, "… more
The Spring Market
share
I am interested to hear how everyone feels about the so-called "Spring Market. " I have been so busy I can barely keep up. Interestingly, however, I am seeing this activity in pockets. I have several listings which have virtually no… more
Buyers, Time to Get off the Fence!
share
For the past year and a half I have had a number of clients who have been unable to move forward in their home purchasing. Many of these clients are in very comfortable rental situations. In the past couple of years, the rental market has been a… more
Virtual Tours on Websites
share
I am interested in hearing about the responses you have had to different marketing ideas, specifically posting of virtual tours on video posting sites (I am not sure if I can say specific websites due to the copyright rules). I saw a story on the… more
ActiveRain Brings a Referral…
share
I just thought I would share that one of my former clients found me through the ActiveRain Network (Hi Kim! ). I have been very pleased with the extra visibility that particpating on the site has brought me in web searches, but did not know how much… more
The Question
share
I probably spend more time answering the question, "what is going on with the Real Estate market? " than any other question. I own a small brokerage, so I am constantly looking for my own sources so that I am prepared each time this… more
Day 2… A bit Obsessive
share
It is pretty funny how quickly you can become addicted to something like this. The whole concept of points and our natural competitive instincts feed off of each other and before I know it, I have been playing around on ActiveRain for an hour! We… more
Growing Up in Reston, VA
share
I confess; I grew up in Reston and I still live here!!!! Okay, now that I have made my confession, I have to admit that I think living in Reston is fantastic. I moved here as a kid and participated in all that Reston had to offer at the time: camps,… more