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I recently came across a post from a realtor on another website who was very upset about some posts that she had read that was very derogatory towards realtors. She believed herself to be very professional, ethical, and caring about her client's best interests. I am directing this post mostly to realtors and I would appreciate any responses you might have. If non-realtors wish to reply please do.
Below was my response to Sherry and I would be interested in feedback and specifics regarding agreement or disagreement:
Sherry,
I agree with you that there are many good to excellent realtors who take their profession seriously, are ethical, and work very hard to satisfy their clients and to always keep their client's best interests as their top priority. However, the reality is that there are many agents who have no business being in the real estate business and bring down the reputation of realtors as a whole. According to data presented by NAR, realtors rank very low on the reputation scale(bottom 20%) and barely above used car salesmen reputations. This is one of the reasons for NAR's national ad campaign focusing on realtors and their Code of Ethics. Additionally, according to the NAR, there is approximately an 80% turnover in real estate agents every two years. To many people get into the business for the wrong reasons. They think they can make a quick buck and only need to take a sixty to ninety hour course in most states to get licensed. They don't realize that being a realtor is hard work and that it is a very complex field. Many people get into real estate on a part time basis while they hold down another job and in most instances, real estate is not their priority. Many don't take their profession seriously and do the minimum as far as education. You state that the "vast majority of realtors do care about our clients and will go out of our way to make our clients happy". I would ask as to where did you get the data for this statement because it doesn't seem to be born out by information I have received in ABR classes and GRI classes.
I am in no way questionning you as a professional and caring realtor. I too feel angry when I read posts on websites that blast realtors. But I have learned that my anger was originally directed at the poster and not where it should have been directed. When I now read an angry post from someone my anger is now directed at the real estate agent who was not professional and competent that worked with them, because that is where their anger comes from in most instances. To not pay any attention to negative comments on these posts is almost like burying our head in the sand in hopes that they will go away. I prefer to go to those websites and read what is being said and respond in a professional manner in hopes of swaying some of the negative opinion out there.
I hope my comments are taken in the manner in which they were intended. There are many good and professional realtors out there. There are also many that are not. I believe real estate is a good and honourable profession. I understand that the public perception of realtors is very low. I also believe that the good and professional realtors must take an active role in helping weed out the unprofessional ones. This active role can be in many forms. I think we should push for stricter requirements before a person can become licensed. I believe that our continuing education requirements should be stricter and more focused. I believe that we should report incompetent, negligent, and unprofessional real estate agents to the state board responsible for taking corrective action. In my opinion, until the good and professional realtors take a more active role in this not much will change, except for the worse. And I say worse because the Department of Justice is now involved with making changes to the real estate industry. I believe one of the main reasons for their involvement is because of the unprofessional realtors/agents.
You have made some interesting points...I think all of us licensees would agree to having higher standards. The state's real estate commissions do not want to create unnecessary barriers to enter the field.
Since it is each state that decides what education is required to be and stay licensed and the state enforces their own laws (investigates/has hearings/fines/suspends/disciplines/educates) - I do not think that is why the DOJ is "looking into" real estate sales.
I think the whole thing is way more sinister. Real Estate is a multi billion dollar industry. What would happen if: the Feds ran the licensees? - and had a federal buyer/seller transfer tax? - took power away from the states, made licensing national?
I think it's all about the money. Have you ever seen a federal intervention in an industry that saved you (the people) money?
I also think that the ranking of professionals is biased. People move an average of every seven years - these ratings are done yearly. So chances are that if you were surveyed - you would not have had any personal dealing with a Realtor...but you have probably heard three or four stories from your friends about Realtors (unproven) - 'cause people love to spread rumors, gossip, and half-truths...
In my select circle - we talk about the dirty-rotten things that happen during a transaction, weekly. We don't want our brokers being blindsided by recent trends that could harm our client or our brokers. I believe it's important to share, because you don't know what you don't know.
I have to agree with gbone that some real estate agents bring the rest down. One agent aquaintance with 20 years experience says he is happy about the slowdown because he believes it will clear out the deadwood. And that would be a really good thing.
One other problem is the fact that the MLS system is closed. People feel that they are FORCED to use real estate agents which means that thay aren't necessarily open to what extra value they may bring to the table. Add in to that the fact that RE agents are salespeople and the general public has an aversion to salespeople anyway (ever run away from the sales guy in a furniture store?) and the cards are stacked.
I'll add that on this board I have seen some realtors that appear to be exemplary - such as GretchenB, and others (on the Jersey board) who I have seen outright lie to people asking questions, especially if they are from out of the country and are an easy target.
Location: Official Missourian-Pray for the Natives
382 posts, read 1,068,833 times
Reputation: 381
Just my humble input
Unfortunately, most consumers think of realtors as a necessary evil, just like car salesmen. I say unfortunately because good agents are "guilty by association".
I can share a couple of experiences I have witnessed which should further explain why people are so distrustful.
A friend had a FSBO and was approached by a realtor, with clients sitting in his car, asking if he would consider working with a buyer's agent. The agent said his clients were looking to purchase at a price $15K below the FSBO price. At that time, he was not in a financial position to do so and explained to the agent - 1. he could not entertain an offer that low as his selling price was already low, and 2. factoring in the buyer's agent fee would decrease even further what he would clear on the sell.
Several months later, the same agent returned with clients in tow and made the exact offer again. Again my friend told the agent he could not drop any lower in his price and could not afford the buyer's agent fees either. The agent left his card and asked him to call if he should change his mind.
Several months later, my friend's financial situation picked up and he could consider lowering his sell price a tad and pay a buyer's agent fee. He contacted the agent who seemed excited to be doing business with him. The agent told my friend he would go to his office, review the comps, get with his clients who had expressed interest in the home and call him back. However, the agent never, EVER, returned a call to my friend to say definitely yea or nay, and that has been over a month ago.
Another friend of mine, a realtor, asked another agent to show a house she had listed. The other agent said, "No way, not at 2.5%." My friend was in total shock as this was suppose to be one of her friends and she had helped her friend out many times especially when dealing with clients on restricted budgets.
Another realtor friend, met with a friend of mine who was juggling the FSBO vs Realtor. My realtor friend told him she could list with MLS and it would help him sell faster but only if he paid the full commission. My friend stated he could also get MLS service after paying a certain fee to a particular company. My realtor friend screamed "you better not being getting MLS listing for that amount from that company, not at what I have to spend for MLS listings." She said she would report the company, grabbed her stuff and stormed out of his home.
A realtor friend told me if a client is interested in a FSBO home and inquires of an agent about the home, most agents will say "I have talked with them and they are not willing to negoiate at all. You will be wasting your time." In fact, they know nothing of what the seller would do because there has been no contact at all. Realtors discourage any contact with FSBOs giving the impression they know what is really going on and they are the only ones who can help or care about buyers.
I can offer stories concerning buyers as well but too many to share.
Now who is the loser? The consumer, of course, along with reputable agents.
On the flip side, so many good realtors, who genuinely want to help and truly care about their clients, have been forced from the business because they tend to take the flack for the bad apples. Even dastardly things happen to realtors. For instance when a female agent had an appointment to meet the husband for a showing around dusk. The agent was brutally beaten and raped. (True story, happened in a community near mine.) By the way, the guy was not a husband, just a plain, old, everyday lowlife looking for an easy victim.
It is hard to find middle ground where everyone would benefit. When abuses occur, many times the government must intervene, then we all suffer.
P.S. and BTW -
Just wanted to personally commend all agents in this forum. You are participating in a much needed capacity AND on your own time without monetary reward for your efforts. Hopefully, you all will be able to change the concept of realtors and run the bad ones off with their crooked little tails tucked between their legs whilst heading for the high ground.
Last edited by SassyGirl2; 11-05-2007 at 05:45 PM..
Reason: Forgot the kudos
That was a very logical letter you wrote gbone. I have been in the business since 1989.
I have seen the ups and downs. When it was busy,those agents that come out of nowhere and they really don't know what they are saying,they are not professional,some would wear very low cuts and did things very un-professional.All they did is made a lot of trouble for the other ones like us.Just talking about paperwork and not having knowledge made me mad.Because of that the commission was cut very low.So that they could get what they wanted. It made our work really hard.
Now,all those disappeared.So when I go visit a homeowner,they are surprised to see me.Because they didn't think I would come anymore. Some would call me and say" how come I haven't seen you for so long,come and visit me" That makes me so happy that they still think about you.You know,good knowledge and great customer service is still going strong.So don't give up,my friends!
Yes, true, and I think some are not -- although I could be wrong. I recently tried to access an MLS in FL and couldn't get in through the MLS site (it asked for realtor log on, etc.). I visited a realtor's website and it said I could get in through them, but it brought me to realtor.com
Like I said, I am not sure, but I think some are not open.
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Just my humble input
