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My point is anyone capable of passing a real estate license exam (albeit very easy) is capable of joining a big brokerage and plugging into the system their listing, letting the technology do the work and then screen some calls. I understand different properties need different marketing strategies (luxury, mobile home, etc) but once again it seems the technology does all the heavy lifting. Technology is the only leverage agents are clinging on to.. but the free market will evolve and as good technology becomes more pervasive for everyone, agents will in the future have a harder time justifying their commissions.
That statement alone shows your ignorance to the industry. (not using the term ignorance as 'dumb' or anything, don't get offended.) About 70% of agents crash n burn in the first 1-2 years.
If your statement was true, so many wouldn't be dropping like flies.
Its a very tough business and technology has done nothing but help the good agents and help remove the bad ones. Don't forget, the internet was supposed to end realtors..then Zillow..then Redfin...now what's the next thing? Flat fee brokers? --Yawn
Passing the exam has nothing to do with being a Real Estate professional either, that's just a requirement.
Just because you got a permit to open a restaurant, doesn't mean you know how to cook right?
You always have good info. Unfortunately, finding an agent like you is hard and rare. I have dealt a few times with agents that are as outlined in other posts. Get the listing and move in. This happens in spite of their marketing stories. They believe their own lies.way too many in the game. I still get a kick out of agent’s photos on their advertising of today that must have been taken when Regan has his first term aa President.
No doubt, that's why people like me have been so successful over the years and survived as long as we have.
Which disputes the post below yours of 'we need 2nd jobs because R.E doesn't pay enough' . Couldn't be further from the truth. R.E is unlimited income potential. Most of my colleagues are 6 figure earners. and 6 figure R.E earners don't have time for a 2nd job! They barely have time for the spouse/kids/family unfortunately. (which is part of what I teach, a life balance)
Show me another industry besides Tech where you can jump in and make 6 figures within 1-2 years..perhaps car sales? But even then, your income is capped.
"Real estate is the highest income, hardest job you'll ever have and the easiest, lowest paying job you'll ever have as well. " - what other industry offers that? If you don't sell cars, they fire you. And you can't make millions selling cars unless you own the dealership. Same for yacht sales, timeshare sales, phone sales, etc.
To your point about photos, my favorite are the 'realtor in the bathroom mirror with no shirt on ones'..have you followed the BadRealEstatePics account on Instagram??
No doubt, that's why people like me have been so successful over the years and survived as long as we have.
Which disputes the post below yours of 'we need 2nd jobs because R.E doesn't pay enough' . Couldn't be further from the truth. R.E is unlimited income potential. Most of my colleagues are 6 figure earners. and 6 figure R.E earners don't have time for a 2nd job! They barely have time for the spouse/kids/family unfortunately. (which is part of what I teach, a life balance)
Show me another industry besides Tech where you can jump in and make 6 figures within 1-2 years..perhaps car sales? But even then, your income is capped.
"Real estate is the highest income, hardest job you'll ever have and the easiest, lowest paying job you'll ever have as well. " - what other industry offers that? If you don't sell cars, they fire you. And you can't make millions selling cars unless you own the dealership. Same for yacht sales, timeshare sales, phone sales, etc.
To your point about photos, my favorite are the 'realtor in the bathroom mirror with no shirt on ones'..have you followed the BadRealEstatePics account on Instagram??
Its just the 1% like you are not like the other 99% which drags the reputation down big time
Agency owners just keep throwing the 99% out there and hope the 1% that survive can carry the day.
There should be stricter qualifications to be in and remain in the business IMHO
Licensing alone is too low a bar IMHO
Just like Carvana, TrueCar, Costco in auto sales, the Purple Bricks outfits are out there and will make greater inroads over time
That statement alone shows your ignorance to the industry. (not using the term ignorance as 'dumb' or anything, don't get offended.) About 70% of agents crash n burn in the first 1-2 years.
If your statement was true, so many wouldn't be dropping like flies.
Its a very tough business and technology has done nothing but help the good agents and help remove the bad ones. Don't forget, the internet was supposed to end realtors..then Zillow..then Redfin...now what's the next thing? Flat fee brokers? --Yawn
Passing the exam has nothing to do with being a Real Estate professional either, that's just a requirement.
Just because you got a permit to open a restaurant, doesn't mean you know how to cook right?
I’ve studied and looked at the real industry from a number of different perspectives and I just can’t wrap my head around this all to be honest.
I’ll admit Marc I’m conflicted inside my head in a lot of ways when it comes to being a realtor or not. Part of me would like to, but then part of me doesn’t feel like it’s my true calling or that I’m even needed in the market place.. I guess we are all replaceable in the bigger picture and no one is TRULY needed. Maybe I’m just not ready to be committed to one path, maybe I lack internal confidence that I can’t, or maybe intuitively being a realtor doesn’t truly resonate with me.
If I’m going to do something I’m going to be one of the best or just not do it at all... it is crowded here at the bottom, very crowded, and when I had coffee with an agent last week who has already sold 80 million this year in sales, I thought what the hell, he doesn’t out class me one bit or even seem smarter..... maybe a little better dressed...yet he’s sold 80 million and I’ve sold zero! It was humbling....but also important not to compare for we are all on different life paths...
You sound like a good agent, even if you are biased which you are, you’re sold on your service and it seems to be working out fine for you.. you aren’t putting guns to anyone’s head demanding your commissions so you obviously are earning what you make. I appreciate letting me play devil’s advocate a little and you can tell your rebuttals are well thought out from first hand experience.
I appreciate letting me play devil’s advocate a little and you can tell your rebuttals are well thought out from first hand experience.
Its great practice for me, I like to be challenged
But I'm like you, I'm not going to waste my talents or time on this earth. So If I thought selling homes wasn't worth my time or that my commission wasn't justified, I'd do something else too.
And Yes I believe in it, and I believe in it 100x more than ever since I left my company and joined a big brand.
One thing i see you struggling with is us being replaced..trust me, once you've done this for a few years, You'll see that the average person has NO BUSINESS selling their own house and need someone to hold their hand through the whole process. I meet people on a daily basis that I wonder how they get through the day, let alone own a $400k house. Then you have the busy people that have ZERO time for selling their most expensive asset of their life. They need a professional and you can't put a price on that. They put their trust me and are literally hoping for the best. Its a lot of pressure on us mentally, another reason why some people leave the industry.
Good luck to you man, sounds like this isn't for you. This job isn't for most people actually and I make that clear in week 1 of my trainings. My quote is "If I can't make you money in this class, I will save you money" - the saving money part is getting out NOW before you make $0 in 6 months and run up credit card debt
Its great practice for me, I like to be challenged
But I'm like you, I'm not going to waste my talents or time on this earth. So If I thought selling homes wasn't worth my time or that my commission wasn't justified, I'd do something else too.
And Yes I believe in it, and I believe in it 100x more than ever since I left my company and joined a big brand.
One thing i see you struggling with is us being replaced..trust me, once you've done this for a few years, You'll see that the average person has NO BUSINESS selling their own house and need someone to hold their hand through the whole process. I meet people on a daily basis that I wonder how they get through the day, let alone own a $400k house. Then you have the busy people that have ZERO time for selling their most expensive asset of their life. They need a professional and you can't put a price on that. They put their trust me and are literally hoping for the best. Its a lot of pressure on us mentally, another reason why some people leave the industry.
Good luck to you man, sounds like this isn't for you. This job isn't for most people actually and I make that clear in week 1 of my trainings. My quote is "If I can't make you money in this class, I will save you money" - the saving money part is getting out NOW before you make $0 in 6 months and run up credit card debt
Correct. “Unlimited Income Potential” employments are really just for the very few. Those that make it do great.
It would be interesting to see what the churn rate is with RE agents compared with the 1% that make it.
Frustrating thing in selling is to find a truthful agent with proven creed. They all brag but I would like to see independent verification. Just so hard to find that needle in a haystack in the current situation.
Frustrating thing in selling is to find a truthful agent with proven creed. They all brag but I would like to see independent verification. Just so hard to find that needle in a haystack in the current situation.
I agree. I know INMAN or REAL TRENDS does their best, as does FORBES (For the major agents like Ryan Serhant on Million Dollar Listing or the Jills in Miami Beach), but I wish there was something that actually tracked ALL Agents.
One thing that NY requires to get a broker's license is proven volume. In Florida, its just 2 years of licensure with no sales requirements. I took my broker's class and we had agents in there who had 1 or ZERO transactions, asking ridiculous questions....and these people are opening a company and hiring agents?? No wonder we have the issues that we do.
But then again, NY has tons of shady people as well, so no state is perfect by any means.
But a non-partisan, 3 rd party rating system would be helpful and would cause agents to do more transactions than they normally would to get a higher rating (thus causing them to worker harder, causing them to make more money, causing them to focus on it full time, etc etc. the cycle continues).
I also think if you don't have a sale by the time your renewal is due, you should not be allowed to renew. That gives you 18-24 months (depending on when your date is up) to get a closed transaction. Just simple steps like that would eliminate all these 'referral agents'.
But the state needs their LICENSE Fees and the schools need their CE $ so 1 hand washes the other
I agree. I know INMAN or REAL TRENDS does their best, as does FORBES (For the major agents like Ryan Serhant on Million Dollar Listing or the Jills in Miami Beach), but I wish there was something that actually tracked ALL Agents.
One thing that NY requires to get a broker's license is proven volume. In Florida, its just 2 years of licensure with no sales requirements. I took my broker's class and we had agents in there who had 1 or ZERO transactions, asking ridiculous questions....and these people are opening a company and hiring agents?? No wonder we have the issues that we do.
But then again, NY has tons of shady people as well, so no state is perfect by any means.
But a non-partisan, 3 rd party rating system would be helpful and would cause agents to do more transactions than they normally would to get a higher rating (thus causing them to worker harder, causing them to make more money, causing them to focus on it full time, etc etc. the cycle continues).
I also think if you don't have a sale by the time your renewal is due, you should not be allowed to renew. That gives you 18-24 months (depending on when your date is up) to get a closed transaction. Just simple steps like that would eliminate all these 'referral agents'.
But the state needs their LICENSE Fees and the schools need their CE $ so 1 hand washes the other
Interesting insight... yea the broker qualification here in FL doesn’t make much sense... then again our whole economy and world doesn’t make much sense to me right now lol... deep down no one really knows what the hell is going on and we are all winging it... trends, correlation, statistics, etc give us a sense of control but it’s an illusion. World isn’t fair that’s a fact. Enjoy it while you can anyways.
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