We Tell it Like It Is

Ok, I've had it. Do people not take this job seriously? I've sold homes from $70,000-$500,000. That's a lot of $ and it involves life-changing experiences for people. Buying/selling a house is a big deal for people. THERE ARE SOME REAL ESTATE AGENTS THAT NEED TO GET OUT OF THIS BUSINESS. Here are the 2 groups that need to hang it up (of course, there are exceptions, but this is geared toward the majority of these 2 groups):

1) Agents over the age of 55. Yep, I am prejudice. Ageism. Call it what you want. I worked in the senior housing industry for 6 years prior to being in real estate and I love older adults and I get along with this population better than I do my own age group. But, its like that infamous debacle adult children go through when its time to talk to mom or dad about taking away their driver's license. The same conversation needs to take place with other licenses as well...specifically real estate. You can't mess around and "think" you are doing things the right way with this job. You have to KNOW you are doing things the right way. Not knowing the ins & outs of TODAY'S industry (but knowing how things were back in 1980) is doing an incredible disservice to your clients and to others involved.

Exhibit A:  I closed on a transaction where I was representing a buyer. The listing agent for the property my client was purchasing was an "old school" agent who sounds like she spends more time in Florida nowadays than she does working the MN real estate market. My co-worker remembers her from 25 years ago. When we had initially submitted our offer to purchase her listing, she saw that my buyer was using an FHA loan (which right now is used on 85%+ of purchases) and admitted she "hasn't dealt with FHA in years". She was appalled at how much we stated we needed in closing costs (which I have seen similar amounts in every FHA transaction I've done within the past year). I told her this was normal. She was convinced we were trying to "pull something" by asking for thousands of dollars more in closing costs than what we really needed. This information was relayed to her clients --who didn't know any better and trusted her-- and her clients were understandably apprehensive about working with us. Luckily, the agent ended up consulting w/another person in her office to find out that what we were asking for is indeed normal in today's market and we were able to follow through with the purchase. However, her clients could've lost out because of her lack of needed knowledge & skill.

Exhibit B: I was representing a buyer on a purchase of a home 3 yrs ago. The listing agent for this home was one that's been in the business for many years and markets himself as a very experienced listing agent. Throughout the transaction, he consistently confused me with another agent from another property he was selling. I had to keep reminding him of what property we were discussing and what the details of the purchase were. It became quite exhausting. He negotiated some terms for his clients that he later forgot about; when I reminded him of it & asked him to put it in writing, he denied saying those things...and those things are what got my clients to agree to the purchase. It became a mess!

Side note: Pete recently called an older agent to schedule a showing on his property. 10 minutes after Pete spoke w/him, something came up and he called the agent back to see if he could change the day. The agent had no idea who Pete was and no recollection of their conversation 10 minutes prior.

Exhibit C:  I have a few clients that started out with a different agent; one that their parents recommended because he/she was a family friend or family realtor from years ago. These clients ended up purchasing w/me because their former agent caused them to lose out on properties because they weren't fast enough at getting offers in, fast enough at being able to get them out to see homes or fast enough at returning phone calls.

Exhibit D:  I have attended numerous classes/conventions where older realtors have complained about today's technology. Some do not know how to check voicemails on their cell phones, send or open email messages, or even scan the MLS for listings for their clients.

To these older agents: Ok you either need to get out of 1985 and into 2009 or hang it up people. I respect my elders and respect the hard work you have done in the past. However, we are in a different time now and you must roll with it. Get educated. I am tired of babysitting other agents and inadvertently protecting their clients in addition to my own. Your lack of modern skill and education is dangerous.

Stay tuned for the next blog that discusses the 2nd group of agents that need to shape up or ship out.