According to the one million-plus-member National Association of Realtors, 86% of new real estate licensees exit the business within a year. And only 7% go on to their first license renewal.Obviously, the high turnover rate has negative consequences for consumers as well as for practitioners…. This in turn has lead to negative stereotypes, and a general sense, as evidenced by the growth of discount brokerages, that we get paid more than we are worth. Link.Without higher standards for entry, my chosen profession will continue to be an avenue for experimentation by amateurs with little desire to be true professionals.
Browsing Category Public Perception
Morning reading
So you want to be a landlord?One aspect of being a landlord that is often forgotten (especially in this exuberant market) – Expect routine cash outlays. Rental properties aren’t all about money coming in. You’ll probably need to paint apartments (or offices) between tenants and every few years for remaining tenants…. If you want to attract and keep tenants, your property should look clean and decent.
Realtors – V- DOJA Justice Department antitrust suit against the National Association of Realtors raises a tricky legal question: Who controls information about homes listed by brokers as available for sale?EditorialAnd yet we have to admit the Realtors have a legitimate claim that they created and own the local MLS database of homes for sale…. The Justice Department’s lawsuit would require that all homes be listed on the MLS even if home sellers don’t want them to be.There are alternative business models and multiple websites for searching for homes, that are privately held as well.
Why not all agents are rich
Slate’s take.With all these new agents swarming onto the scene, the price they charge may remain constant, but the number of houses each sells will not. The zero-profit condition predicts that, in locales where housing prices rise, the number of agents will also rise, and acquiring new clients will become that much more difficult. The occasional star agent will always make a bundle. But the theory suggests that the average agent won’t make much more in places where house prices have risen than in places where they haven’t.’Nuff said.
What do you want in a Realtor?
Integrity, prompt response time and commitment are among the most important factors consumers consider when choosing a real estate agent, according to a new survey.It’s a darn shame that integrity is something that is such a rarity, rather than a simple expectation. Maybe if the market slows a hair, some of those Realtors lacking integrity may choose another profession.Most survey participants agreed that the integrity of an agent is the single-most important factor in their choice.
The worst-written ad I have ever seen. Period.
The public remarks – A HANDY MAN SPECIALIF THERE EVER WAS ONE, 200 AMP SERVICE, HEAT PUMP COMPRESSOR AND DYCT WIRK IN PLACE FOR THE BEGINNING OF REHAB, CHECK THE TARPOLIANS ON THE FOOF, SEPTIC FOR 2 BY HOME IN 1959 AND OUT RIGHT FRONT TO REAR OF HOUSE IN WOODS, BOARED WELL? VACENT GO SEE ANYTIME.As Realtors, we have a responsibility to present the best we have to offer each and every day. Examples like this, while rare, are examples of either an illiterate Realtor or a prime example why there should be higher standards of entry to this profession. He misspelled “vacant,” for goodness sakes!
Bubble discussion
From the HousingBubble – What are your thoughts as to whether there is a “bubble” in Central VA? Is our market different? How? How not?
Loyalty
Several times this year, I have experienced or heard first-hand stories about Buyers who will initiate a relationship with a Realtor to search for a home, and ultimately not worth with that (or any) Realtor for representation. I have seen it written that Realtors give away much of their expertise for free in the hopes that some business will be generated…. Having grown up in the business, I knew that this was a cutthroat career; I was prepared more for the competition from fellow Realtors more than anything else.Perhaps I am a bit of an ideologist and expect a modicum of candor and openness from those with whom I work.